The Downside of Sports Betting
With so many people wagering on sporting events, it has become quite common to see more TV broadcasts about these events. Many bettors will watch the game and bet only on a few factors, not the game itself. Some of the most common sports bets include the outcome of a single game, a fight, corner kicks, number of goals scored, and final score. But there is a big downside as well.
Legalization of sports betting in the U.S.
Prohibition of sports betting is counterproductive, and it creates criminals out of otherwise law-abiding citizens. In fact, many law-abiding citizens are unaware that sports betting is illegal in their area. In fact, only 38 percent of adults in the United States are aware of whether sports betting is legal where they live. But if they knew, they would probably support legalization of sports betting.
As of August 2018, only Delaware has legalized sports betting. Unlike its larger counterparts, Delaware is the least populous state in the United States. It has been working towards legalization of sports betting for two years and expects to legalize mobile wagering by September 2021. But this is not an easy task for states, and it could take some time before the federal government grants permission to all states to legalize sports betting.
Impact of legalization on TV ratings
The legalization of sports betting has a number of implications for television ratings. It could result in a spike in the number of viewers watching particular sporting events. The NFL, for example, has seen a 5% increase in its average viewership this year compared to last year. Before the big court ruled, the NFL had seen a similar increase. However, the NBA has yet to see such a spike in viewership.
In the long run, legalized sports betting will likely boost TV ratings, although the immediate benefit won’t be felt. As more states adopt this policy, the number of people betting will grow. Currently, less than 2% of Pennsylvania adults bet on sports. Legalized sports betting may help the NFL earn more money through TV rights. But this increase won’t be due to gambling. It will likely be due to the increased interest in the sport.
Problems with legalizing sports betting in the U.S.
With 21 states having legalized sports betting, the industry is ripe for growth. In addition, six more will likely approve legislation this year, and fourteen are working towards legalization by 2022. The problem is that a majority of the population does not live in a state that allows sports betting. This could lead to a 90 million population growth. Let’s examine the problems with legalizing sports betting in the U.S.
The federal government is attempting to secure a broader, national agreement on sports betting. A federal framework would protect public welfare and generate tax revenue, while leagues would prefer regulation similar to that of the Nevada State Gaming Commission. However, the situation is fluid and will change rapidly depending on which outcome is reached. Currently, four major sports leagues have opposed legalized sports betting and are actively lobbying the Supreme Court to maintain the ban. But they aren’t the only ones opposed to legalizing sports betting. TV broadcasts show odds for games.