What is the Future of Sports Betting?
Kennedy Dunning
Kennedy Dunning
Sports betting is an activity of predicting outcomes of sports games and placing wagers on the results. The history of sports betting is extensively layered and the future of it is nothing but controversial.
In the United States, sports betting became popular in the mid-20th-century but never reach a national level do strict gambling regulations and local anti-gambling laws. In a nutshell, American citizens and the government have had a rough tug-o-war between gambling laws and those who want to enjoy the activity. When organized crime began to grow in the 1960s, criminals started finding loopholes by using sports books, the U.S. Congress passed several laws banning gambling completely.
Since then, there has not been many changes. Americans still crave betting and the government is still cautious with setting laws. However, it seems like the government is more open to the deregulation now. Sports betting is now permitted in five states: Nevada, New Jersey, Mississippi, West Virginia, and Delaware. These states have benefited from allowing sports betting within their borders. Sports betting brings in a multitude of taxes that contributes to the states economy. This has helped West Virginia especially, being one of the USA's poorest states. The money put into the casinos, companies and workforce is more money circulating in the U.S. economy. Within five years, this market could generate $3.1 billion to $5.2 billion a year in annual revenue, according to one projection from Sports Interaction This compares to the viewpoint of Benjamin Phillips, amautuer gambler, who described the activity as “ eventually contributing more than a couple bucks.”
The exact locations where such betting may occur, and the types of bets allowed, will be worked out, state by state, in the coming months and years. First with their lobbyists of the casinos, who are aiming to limit sports betting to their facilities so they can keep all the winnings. Behind them are the professional sports leagues, who argue they need a cut of the action, a so-called “integrity fee”, to have the resources to keep gamblers from compromising the results of games. Keith Willis, an amautuer sports gambler, states that when done “appropriately and in moderation”, sport betting can “really unite a fan base.”
Several states, more than ever, are considering legalizing sports betting. This includes states like Colorado and Rhode Island earlier this year in May. These state’s governments understand the economical benefits of sports betting but also see it as a way of raising their state pride. People from Colorado, who are pro-betting, call this "nation building for the public good.” Healthy, entertaining competition like betting is said to reflect an area's culture. This could help strengthen communities and promote tourism through classic Americana.
In the United States, sports betting became popular in the mid-20th-century but never reach a national level do strict gambling regulations and local anti-gambling laws. In a nutshell, American citizens and the government have had a rough tug-o-war between gambling laws and those who want to enjoy the activity. When organized crime began to grow in the 1960s, criminals started finding loopholes by using sports books, the U.S. Congress passed several laws banning gambling completely.
Since then, there has not been many changes. Americans still crave betting and the government is still cautious with setting laws. However, it seems like the government is more open to the deregulation now. Sports betting is now permitted in five states: Nevada, New Jersey, Mississippi, West Virginia, and Delaware. These states have benefited from allowing sports betting within their borders. Sports betting brings in a multitude of taxes that contributes to the states economy. This has helped West Virginia especially, being one of the USA's poorest states. The money put into the casinos, companies and workforce is more money circulating in the U.S. economy. Within five years, this market could generate $3.1 billion to $5.2 billion a year in annual revenue, according to one projection from Sports Interaction This compares to the viewpoint of Benjamin Phillips, amautuer gambler, who described the activity as “ eventually contributing more than a couple bucks.”
The exact locations where such betting may occur, and the types of bets allowed, will be worked out, state by state, in the coming months and years. First with their lobbyists of the casinos, who are aiming to limit sports betting to their facilities so they can keep all the winnings. Behind them are the professional sports leagues, who argue they need a cut of the action, a so-called “integrity fee”, to have the resources to keep gamblers from compromising the results of games. Keith Willis, an amautuer sports gambler, states that when done “appropriately and in moderation”, sport betting can “really unite a fan base.”
Several states, more than ever, are considering legalizing sports betting. This includes states like Colorado and Rhode Island earlier this year in May. These state’s governments understand the economical benefits of sports betting but also see it as a way of raising their state pride. People from Colorado, who are pro-betting, call this "nation building for the public good.” Healthy, entertaining competition like betting is said to reflect an area's culture. This could help strengthen communities and promote tourism through classic Americana.