Now that the stigma of sports betting is beginning to evaporate, there’s still a lot to do in the coming years.
Outside of the areas already with sports betting, don’t expect to start wagering in many places for the upcoming NFL season.
According to research, 32 states will likely have sports betting in the coming five years. What will it look like when that happens? New Jersey will likely be the pacesetter.
All eyes on New Jersey
New Jersey is the reason why the U.S. Supreme Court even listened to arguments about sports betting in America, so it only makes sense that the state will be the first to launch betting after the ruling.
It appears Memorial Day is the likely date for sports betting to be unveiled in New Jersey. There’s still a lot to do in the interim, with New Jersey basically having a law in place without regulations.
That will change in the coming weeks, and it will be a trend-setter for the remaining states that have their eyes on sports betting.
Integrity fee will be pushed
Now that the Supreme Court has reversed the Professional and Amateur Sports Protection Act, the professional and collegiate leagues are going to push for a fee to be paid to each league.
In New Jersey, that’s not happening, especially since the leagues were ardently against the state for pursuing this measure through the court system. Because of the leagues pushing against the New Jersey legislation, costing the state millions of dollars in the process, don’t expect any favors from those legislators.
However, other states may be more receptive, causing a dent in the profits to be realized by not only the casinos in charge of sports betting, but the states’ too. Sports betting is not near as lucrative as slots, with casinos raking in about 5 percent win percentage in Las Vegas on sports betting, while slots can earn up to 10 percent in win percentage in casinos.
The collegiate and professional leagues will now employ several lobbyists in America to persuade legislators on the integrity fee, but Las Vegas has operated for decades without such a measure, and sports’ integrity hasn’t been compromised for the most part.
The leagues don’t have much leverage, other than to black-ball states that don’t have an integrity fee with not awarding major sporting events. Think of the Super Bowl. If Florida enacts an integrity fee and Arizona does not, the NFL could wield its power by never granting Arizona another Super Bowl.
Mobile betting creates more questions
Sports betting attracts younger people. So that obviously means mobile betting, which is widely used in other countries, will have to be included in state’s legislation.
New Jersey is enacting a mobile component, so it will be closely watched how that is delivered. Keeping that revenue in the state and making sure the users are 21 are obviously some hurdles to overcome.
Also, who is running the mobile sites creates some headaches, and whether the professional leagues will tap into the mobile craze like European soccer matches (where you can bet at the stadium) is still up in the air.
The sky is not falling
Obviously I’m a proponent for legalized sports betting. I treat this activity like an entertainment vehicle. Instead of going to a particular event, where I may drop $50 to $100, I choose to bet on sports as entertainment.
Just because I believe in the legality of sports betting, doesn’t mean I can’t see the potential pitfalls. Gambling addiction is a real thing. People can’t overcome that thrill of winning, and try to double-down on losses with money that should be spent on groceries and house payments, instead of sporting events.
Will the legalization open up more troubles? Maybe, but I don’t believe it’s as bad as many believe. People who have wanted to bet on sports in the past have done it, either through online mechanisms or a local bookie. Those who didn’t want to bet aren’t suddenly going to be regular gamblers, and may just put some money on March Madness and the Super Bowl, which is a regular time for non-gamblers to wager on sporting events.
There should be some concern, but there are already many options for gambling in America, so this is just another layer to that existence.
