The world of sports and gambling took a huge whirl wind on Monday May 14th, 2018 as the supreme court decision favored sports betting. Now as fans of sports as well as fans of sports gambling, this ruling is exciting delivering many key benefits for sports fans or sports bettors, as well as for many of the leagues and teams.
Not everyone is on board with the idea of sports betting being legal in every state, as many expect this to cause issues with addiction. The question we would like to ask is, how many people currently bet on sports contests today around the United States despite it being illegal?
According to statistics in 2015, Americans bet nearly $95 billion dollars on just sports bets for the NFL and NCAA football seasons. Of that amount, only approximately $2 million dollars were bets placed in the Nevada sports books. When you look at those numbers, how can’t we be in favor of legalizing it? Here are a few of the key reasons why legalizing sports betting is a positive thing.
Top Reasons Why Legalizing Sports Betting is a Plus
Additional Job Opportunities: If you have ever been to a casino or sportsbook you will notice the extra attendants on hand to help you place your wagers. That said, legalizing sportsbooks allows for local casinos across the United States, horse racing tracks as well as other creative locations such as sports bars and convenience stores to attract additional customers. Those extra customers would mean an increase in the number of employees needed.
Cash Impact on the State: Why not allow sports gambling to be legal, opening the door for it to be taxed much like the state lottery. That said, it will be key for the states to look at this approach differently than allowing casinos in some states, as promises were made allocating money to schools. Some states and county schools have not seen the added cash that was promised. If this cash is used wisely, it will have a huge impact.
Entertainment Opportunities: With the way most Americans gamble on sports, now they can place a bet through a bookie and typically stay at home. While it allows them to save money themselves, it also limits a chance to get out and be entertained. Legalizing sports betting would allow local establishments to change the way they market themselves while opening the door for a night out to have fun with your friends.
Additional Revenue for the Professional Sports Leagues: As the leagues expect to be included in the next phase of sports betting, the supreme court vote could mean they will not see any cash from the direct bets. That said, each league could allow for sports books to be added to their stadiums with the possibility of making them more like sports bars. This would open up the door for jobs but more importantly now fans would have a reason to go to the game if they like to bet on sports.
In the end sports betting delivers both consequences and benefits, but as it currently sits, if someone wants to bet they will find a way to do it whether it is legal or not.