The Benefits of The Benefits of Legalizing Sports Betting
Joe Johnson
|
The move by the Supreme Court in America to slate the controversial PASPA law as unconstitutional back in May of 2018 was considered a landmark moment for the sports betting industry. Thanks to the ruling, each individual state is allowed to choose for itself whether or not to allow the practice.
How Could It Be Beneficial To Legalize The Practice?
Let’s be realistic here, those who wanted to bet on games were able to find ways to do so even while it was illegal. By legalizing the practice, the states stand to gain a lot. You can check out the infographic that we’ve designed at the end of the post for exact figures, but we’re talking a multi-billion-dollar industry here.
And with the industry being legal, both the state and the federal government will be getting their cut. That’s a good few billion in extra tax revenue, and the creation of thousands of jobs as well. Legalizing the industry could be a shrewd business move for the state concerned.
The Sports Industry Benefits As Well
The sports industry can use betting as a new way to earn revenue by monetizing their teams’ results. This could lead to data collection being seen in a new light. Who knows what kind of statistics teams will start monitoring as a result?
Sports leagues have also made a case for a cut of the action. They’ve requested a 1% integrity fee to monitor the betting and ensure the matches are not rigged.
The Punters Benefit
Sports fans are the ones who possibly stand to benefit the most. There’s no more need to find some back-alley bookie that you have no legal recourse against. Wheeling and dealing is still bound to carry on, but at least now the punter will be able to take their complaints to the law in need.
Sports fans will also benefit because they’re likely to have a wider range of stats to draw on. Sure, they might need to pay for the privilege, but that’s hardly likely to deter a determined fan. Also, with the monetization of data, sports teams should have more money to upgrade facilities, pay for better players, etc.
It’s not all sunshine and roses – gambling is addictive and there is that aspect to consider as well.