If you were a betting person, you would probably think that sports betting in the “Land of the Free” would be legal. A few short months ago, that would have been a bet you would have lost. Thanks to the Professional and Amateur Sports Protection Act of 1992, sports betting was illegal in most states.
This act has since been declared unconstitutional thanks to a recent ruling handed down by the Supreme Court.
What Are The Implications Of Legalization?
The implication for the main part is that each state will have to decide for itself whether to abide by PASPA or not. For a complete rundown of all the implications, have a look at the infographic below. The team behind NJGames has done a great job of summarizing all the facts you need to know.
The basics are simple, though. Legalizing betting means that the government will benefit through increased tax revenue, job creation, and the boosting of the economy.
Punters will benefit through tighter regulation of the industry. Legalizing the industry means that punters will not have to rely on back alley bookies as much. They will have recourse against unfair practices that does not exist now.
The sports industry should get a boost as well – with increased betting comes a renewed interest in matches. Sports teams and franchises can also potentially monetize the data relating to their players and matches. In fact, NBA and MLB are asking for an “integrity fee to ensure that the industry is properly policed.
There are, naturally, some concerns over the potential downside of introducing another legal form of gambling. Gambling addiction is something that needs to be considered. But, in all fairness, those that want to gamble will find some way to accomplish their goal, no matter what laws are enacted.
There is also a concern that the increased attention could lead to more tampering with the outcome of matches. Again, in all fairness, those that would indulge in this kind of illegal behavior would find a way to do it anyway.
So, overall, it seems there are more pros than cons, but it is something that everyone will have to decide for themselves.