Minnesota needs to get onboard with Sports Betting, here’s why…
Regardless of whether or not you reside in a state that (currently) allows (legal) sports betting, it is safe to say that the sports betting landscape is changing across the United States. We here at UFFda! Sports wear many hats, covering breaking news (in multiple formats), having deep think pieces/analytical breakdowns, reactions to other people’s takes, etc.
Because of that, we’ve wondered how to cover and integrate sports betting into our network as we only have one site (our brand new NFL site, FranchiseTagged.com) that isn’t focused on the goings on in the state of Minnesota (where sports betting is yet to be legalized for a multitude of reasons).
However, since the landmark decision in 2018 by the Supreme Court to allow states to set their own rules on sports betting (and other forms of gambling), various jurisdictions are opening up sports betting laws, or at least having serious discussions to do so. With COVID also creating gigantic revenue issues for each state, some say that it’s only a matter of time until the Northern most (contingent) state joins states like Iowa in allowing online sports betting.
Aside from millions more Americans being legally allowed to place a bet in their home states, there are other, perhaps unforeseen, consequences to the changes in the law.
For example, most Americans are conditioned to believe that Las Vegas is the center of the sports betting universe. But this is not necessarily true, particularly when it comes to online betting. Then again, most Minnesotans forget Iowa exists unless they drive by a pork rendering plant, so you can’t really blame us.
Many European online betting and gaming companies are investing massive resources into the newly-opened American market; billions of dollars are being spent to establish these brands in the States. And, you have to remember that they will have had a head start over most American startup brands due to the more open sports betting laws in the United States.
So, let’s take a second to analyze the sports betting landscape as it currently exists, where it may be going, and what it means for the average sports fan in and around Minnesota as the landscape is changing day by day and our representatives in St. Paul may want to pay attention before the opportunity passes them, and subsequently us, by.
America may face a more globalized market
The point we are trying to make is that America will become a globalized gambling market, instead of one with pockets of influence coming from places like Nevada and New Jersey. As such, the trends of betting, and even the language surrounding it, will change over time.
Of course, you might argue that these behemoth European companies (and some of them are massive corporations) will adapt to American betting culture. And they will, up to a point. But it’s also inevitable that they, in turn, change elements of American betting culture. Not just in sportsbooks, but through the reporting and other media surrounding sports betting.
For example, the term “props” doesn’t really exist outside of American betting culture. Props bets are available in other markets, but they simply don’t call it that. In fact, they don’t really have a name for that type of bet at all.
Other differences in terms include “the spread”, which Europeans usually refer to as “handicap”, and “parlay”, which is termed an “accumulator”.
But when it comes to the quoting of odds, there is arguably the chance for confusion. Most American betting companies use the +/- format. For example, the Vikings are currently quoted at +5000 to win Super Bowl.
Europeans would scratch their heads at that, with the average UK bettor being more comfortable with the fractional format of 50/1. Continental Europeans, meanwhile, would say 51.
Implied probability can be a useful tool
888sport has a comprehensive guide on the use of betting odds. It’s useful not only because it explains the difference between decimal and fractional, but because it looks at other areas like implied probability and other areas of terminology.
Using probabilities is a particularly handy tool for punters who engage in stats-based betting as it can give a clearer indication if you are getting value for money.
Beyond the odds format, it’s very possible that the European influence leaves its mark on some betting patterns. The use of “bet builders” is very common in soccer matches. This does exist in the United States, but not to the same extent. If you have seen the Adam Sandler movie Uncut Gems, where the climax of the movie involves a bet on Kevin Garnett and the Boston Celtics, it’s a good example.
The bet involves Garnett getting more than 18 points and 8 rebounds combined, the Celtics winning the game and the Celtics winning the opening tip. Most online betting sites now have the function to do that, and it’s been hugely popular in Europe, even if it does seem a little convoluted.
In NFL terms, you might use a bet builder to bet on the Vikings to win by the game 10 or more points, Kirk Cousins to throw 2+ touchdown passes and Harrison Smith to make at least one interception.
Of course, none of this is meant to say that American sports betting culture is markedly different from the rest of the world. Like everything else in modern culture, the US has had an outsized impact on other countries when it comes to betting. But, as we said, the opening up of the sports betting market across the country will inevitable mean it becomes more globalized. Change might come slowly, but it will come.
That leaves where things currently sit in Minnesota. There has been legislation introduced in recent years to legalize sports betting in Minnesota, and while the DFL hasn’t shown much interest, there has been bi-partisan support (technically).
The sticking points have been an anti-gambling bent by many in power as well as the fact that the Native American tribes in Minnesota who currently are the only gambling option in town vehemently dislike the idea of sports betting, especially internet/mobile sports betting.
Per Minnpost.com
Another year, another Legislature that’s unlikely to legalize sports betting in Minnesota | MinnPost
“The members of the Minnesota Indian Gaming Association remain opposed to any and all expansion of off-reservation gambling,” John McCarthy, Executive Director of the association, said in a statement.
There have been attempts to compromise, as Minnpost points out:
“[The Bill]. Garofalo proposed last year, and is planning to re-introduce this year, would allow only tribal casinos to offer sports betting. There would also be no online or mobile betting, at least initially.”
His thinking is varied and not, at least solely, revenue driven. Minnpost explains:
“[The] isn’t financial, as some have suggested. The revenue to the state from taxation of sports betting would be measured in the tens of millions, not hundreds of millions. Instead, Garofalo sees it as part consumer protections, part closing off markets to black-market gambling and part letting Minnesotans do something they enjoy.”
The point I most agree with, though is:
“I love Minnesota. I’ve lived here my whole life. I just don’t know why we have to be the 45th or 46th state to do everything,”
And…
“Our government can’t do anything quickly. We couldn’t get rid of regulation for 3.2 beer. We just recently allowed Sunday liquor sales. It’s a perpetual unwillingness to let adults act like adults.”
Most sports fans agree. While the revenues from sports betting haven’t been what was promised, the fact remains that this seems like an inevitability that Minnesota seems to be blocking for the same reasons alcohol was prohibited over 100 years ago.
With the European companies floodings into state after state, Minnesota could end up in a too little, too late situation if and when they get onboard with the rest of the country. These revenues look small now, but as sports betting becomes more and more globally intertwined, the potential for revenues leads this non-punter to believe that we’re only scratching the surface of the potential that is people betting on the length of the National Anthem.
Stay tuned to UFFda! Sports for all your sports betting updates and news. Cause not everyone reading this lives in Minnesota. Unfortunately.