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US Sports Leagues Discovers a New Way to Monetize Sports Betting

US Sports Leagues Discovers a New Way to Monetize Sports Betting

US sports bettors are taking their business offshore due to the veritable ban on sports betting activities across the US. Federal intervention, however, has restricted the ability of the government to regulate the sports betting industry and benefit from substantial tax revenues. New Jersey claimed that PSPA infringed upon the rights of the state to offer legal sports betting. The Supreme Court of the United States approved, and legislation has been passed in several states, including Mississippi, Pennsylvania, Delaware, and West Virginia.

Regulated sports betting is a topic that has gained both supporters and opponents. Sheldon Adelson, a casino mogul, as opposed to online gambling activities, is worried that his casino resorts in the United States are going to suffer if lobbying groups cannot petition legislators against online gambling. Play-by-play gambling activity is taking place in the United States, which indicates that professional sports leagues are interested in sports betting.

The NBA, for instance, has always supported legalized betting in the United States. The main concern for professional sports leagues in the country is how to maintain the sport’s integrity when betting is allowed. The NBA has also expressed interest in being a beneficiary of the activity. There are proposals about commissions of more than 1% being paid to the NBA. The proposal is also called an integrity fee and would be paid to the league and the teams separately.

Sports betting activity affects NASCAR as well. Brendan Gaughan said that betting on sport could bring more attention to NASCAR and that would be beneficial for the industry. NASCAR, however, is more interested in encouraging the crowd to support the sport and attend NASCAR races. In-race betting opportunities may gain the fans’ support over time.

The NFL has also been quite reluctant to support legalized sports betting, but some franchise owners are actively participating in daily fantasy sports betting. The league is interested in increasing its revenues through sports betting by earning from the wagers placed. The NFL Commissioner aims to maintain the NFL’s integrity once sports betting activities become popular.

A report about regulated sports was conducted on 886 Americans and discovered that some 75% of respondents are supportive of legal online sports betting. 65% of these participants agree that legalized sports betting would support states with extra revenues. 81% of participants favor online sports betting over in-person sports betting. The decision of the Supreme Court of the United States to overturn PASPA bodes well for supporters of regulated sports betting.

Supporters believe that the industry would go underground and earn $150 billion a year if the federal government bans all sports betting. Most bettors in the United States also favor regulated betting over unregulated betting. Although the NFL and the NBA may be all for a 1% commission to support regulated sports betting fully, there’s no ideal no ideal framework planned by professional sports associations and leagues. It will take time to design a nationwide framework that convinces everyone to support regulated sports betting.

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