With the US Supreme Court ‘s federal legalization of sports betting in the United States, the floodgates have officially opened on a new era in sports. Although sports betting has received a stamp of approval in the courtroom, the topic is still controversial. It’s time for change, like drinking alcohol, gambling on sports is a socially acceptable behaviour in moderation and can be a revenue source for metropolis.
The Rollout Won’t happen overnight
With the Supreme Court decision in-hand, each state must now legalize and roll out sports betting and related services. This state-level sanctioning will occur at varying speeds with experts predicting that it will take three to five years to reach a majority.
Digital Platforms Are Looking at the Opportunity
The sports industry is excited. Networks likes of Netflix, YouTube, Amazon, Facebook, Apple and Twitch are too. The digital platforms have a definite advantage to enhance the sports betting experience and live viewing experience with their built in social experience. Companies who lead the charge in this arena will have a competitive advantage in the long run.
Sports Leagues Will Profit Directly from Legal Sports Betting Activities
The majority of pro leagues are favouring online sports betting and are beginning to understand ways to increase profits. League officials have already partnered with gambling firms and data companies to create opportunities to maximize the profits.
Legal Betting Boom
The American Gaming Association has estimated that $150 billion is bet annually on sports. However, analysts don’t think that those who bet illegally will become legal overnight. There may be an opportunity for a nimble competitor to overtake the bigger companies and run a sports book across a number of regional casinos, who would cash in buy leasing space out to the bookies and speaking about casinos there is rush bet promotions live right now so if you are interested in it go and crab it.
NBA Names Its Price, Other Leagues Coy
Meanwhile the NBA has been criticized for seeking an “integrity fee,” which would levy a proposed 1% of every placed wager if legalization is approved. The league argues the money-spinning move is necessary. As per NBA spokesman Mike Bass he quote “Our games would serve as the foundation for legalized sports betting, providing casinos the ability to earn revenue off our games while we bear all of the risk, and would incur additional expenses for compliance and enforcement”.
Major League Baseball’s Stance
MLB Commissioner Rob Manfred has previously advocated the league change its opposition, though the league has yet to officially change its stance. He quote “While we have no position on whether states should allow sports betting, we are talking to stakeholders in every state considering the issue we have an obligation to our fans and our sport to help ensure the integrity of our games is protected, which can be done through a strong law requiring airtight coordination between the state, the casino operators and the sports leagues to closely monitor wagers.”
Sports TV Already Comfortable With Betting
As for broadcast, I believe it will start to align with the opportunity. Prominent networks such as ESPN, Fox Sports and others such are already looking into producing sports betting shows to air in the coming months.