US Supreme Court Gambles on The States: Sports Betting Open For Business
If you are a fan of sports, a little gambling here and there, and a more laissez-faire economy, Monday, May 14, 2018 was a monumental day. The Supreme Court ruled that the federal law banning sports betting is unconstitutional. In effect, states now have the power on their own & have the long-awaited opportunity to legalize betting on sports.
There are pros & cons about everything in life so there is much to be determined, but let’s analyze what this means across the country and the parties this ruling will affect. Ultimately, as a professional handicapper, I look forward to providing my sports pick service even more-so as the sort of stigma of betting will certainly dissipate over the next few years.
Sit-down Ban: Professional & Amateur Sports Act Strikes Out
According to a recent USA Today article, the American Gaming Association estimates that, “at least $150 billion a year is wagered on sports, 97% of which is bet illegally…” Well, with the ruling to legalize sports betting, these statistics will change drastically as the entire market will continue to grow with legal wagers becoming the norm.
With the Professional and Amateur Sports Protection Act of 1992 taking a seat, states that are looking to offer legal sports betting to their population can now allow it. New Jersey will be the first state to take advantage of this and it is estimated that over 30 states will follow suit over the next couple years.
At the macro-level, this ruling has now provided the gaming industry a huge win. We can also assume that states will generate more revenue through enacting taxes. When digging deeper though, casinos, regulated websites, and viable betting operations are certainly immediate winners.
Other parties that will more than likely prosper from this decision are sports teams, media, and marketing businesses. With betting now becoming legal, people will be more likely to watch sports and have the need of researching so they can place educated bets.
With the need of more information & interest to see if your bets pay off, expect to see higher TV Ratings & possibly higher attendance at actual events depending on how teams work this into the game-day experience. We also expect to see more money being spent to market betting services and look for more clicks across the web. Another major win to keep your eyes on are how sports betting apps & technology grow based on consumer interest.
With all of this being said, some immediate aspects to keep in mind will be the growing pains of how the culture of betting will affect our big sports leagues, organizations, athletes, and of course amateur athletes. States will need to figure out how to maintain the integrity and honor of the games.
Watch carefully to see how sports leagues & the NCAA will receive their cut of all this new legal money being passed around. We also need to see how states become more socially aware of gambling addiction and/or side effects of sports gambling now that the U.S. Supreme Court has struck down the federal law prohibiting states from authorizing or licensing sports betting.
Oskeim Sports Picks: Honorable & Professional Handicapping, Always
As a professional sports handicapper, this is an exciting time for the sports picking industry. Oskeim’s expertise in basketball, football, hockey, and more sports picks is not changing, and our integrity & professionalism is certainly not going anywhere. The future looks bright and Oskeim Sports will carry itself with continued transparency, reliability, and dedication to provide you the most accurate sports picks
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