The decision of the U.S. Supreme Court to lift the ban on sports betting last week is a huge step for the sports betting industry. This is because it will change the way sports betting is viewed and bring a new era to the U.S. Needless to say, the Benefits of Legalized Sports Betting will bring many rewards for the fans, leagues and the media.
Now that the states have the power to make sports betting legal, the next step is to make it legal. However, this will mean that people will need to realize the benefits of legalized sports betting. In addition, it will mean that each state will have to create laws to regulate and license gambling organizations.
As each state is considering making sports gambling legal, they will need to look at the many Benefits of Legalized Sports Betting. The most obvious one is from a taxation point which will mean more income for the state. However, the other question remains, what does everyone else get from legalized sports betting?
The Big Winners from Legalized Sports Betting
The Sports Fans
We all know that the fans are what make sports such a lucrative business. From a sports fan point of view, legalized sports betting will bring more excitement to the game. In addition, it will make betting much easier and safer for fans looking to bet on their favorite team.
This is because they will no longer have to go thru their local bookie or an offshore sportsbook. They will simply need to go to a legal sports betting website or location and place their bets. Furthermore, Sportsbook Pay Per Head Service Providers foresee that sports venues will begin to have designated gambling areas as well.
The Sports Clubs
Even though sports leagues do not get a share of the gambling profits, legalized sports betting is to their advantage. This is because Sports Betting does increase the base audience for each event. In addition, sports bettors are more likely to watch the game on TV thus raising the TV rating each game.
Furthermore, if we take a look at the European model, teams will get additional revenue from sportsbooks and casino companies.
The Gambling Industry
This is already a given but yes, the Gambling Industry will profit from legalized sports betting in the U.S. First off, licensed sportsbooks will now be able to operate to a new crowd thus generating more revenue. In addition, they will now be able acquire customers who currently used an offshore sportsbook to place their bets.
The Bookie Pay Per Head industry will also cone out a winner because they will now be able to offer their services to a larger number of businesses.
The Media Industry
On a smaller scale, more radio and TV personalities that specialize in gambling will have stronger positions. In addition, more sports handicappers on TV and radio shows as the public will be looking to them for betting advice.
The big revenue maker for the media will be in the form of advertisement from sports betting companies. This is because on average, “sports bettors usually watch 19 more games per season then the ones that do not bet”.
Thus, they the sports television ratings will go up bringing more commercial value to advertisers. Specifically, they will be able to charge a lot of money for gambling companies to advertise during game time.