Legalize Sports Betting
It has become almost second nature to me that when I’m at a sporting event, or watching one of my favorite teams on television, I almost instinctively open a sports betting app to look at the odds – and maybe even place a bet. While this is not legal in my home state of Texas or my state of residency, South Carolina, there are still workarounds to bet, albeit inconvenient, but more on that later.
Let’s get something straight before we start: gambling is addictive and can ruin lives. If it is so bad, why should we legalize it at all? The reality is that sports betting is going to happen either way, so why not have it all be “above the table” where it can be regulated? Let’s take a look at major benefits of the legalization of sports betting: 33 states and Washington D.C. have legalized sports betting and these four have it on the way.
California
Florida
Maine
Nebraska
Tax Revenue
All of the states that have not legalized sports betting are just leaving money on the table. In legalized states, sports betting generated approximately $54.9 billion in revenue in 2022, long before the surge in gambling activity during the pandemic. In 2022, Americans illegally wagered a figure up to $500 billion on sports, which could have been taxed at 2.5%, like most U.S. states. That money could close lots of budget deficits and support funding for infrastructure, education, and other local facilities and programs.
Employment
This goes without saying, but legalized sports betting would create more jobs that would create more taxable income for governments.
Protecting the Integrity of Games
Arguably the most famous example of athletes fixing games is the 1919 Chicago White Sox, known in history as the Black Sox. The Chicago players threw the World Series against the Cincinnati Reds in exchange for large payouts from the local mob. All of the players were banned from Major League Baseball following the scandal, and the integrity of the league was called into question. More recently, a conspiracy has been circulating that the NFL was fixing games for TV revenue and sportsbook revenue, given the recent “too good to be true” outcomes of games during the 2023 playoffs. While this is likely untrue, NFL players like Calvin Ridley have been suspended for several games, often up to a whole season, for betting on the NFL legally.
Ensuring Responsible Gambling Behavior
In 2014, in a New York Times op-ed by NBA commissioner Adam Silver endorsed the legalization because of its power to provide control over the experience, citing its success in foreign markets. However, he did have a set of stipulations, stating: “mandatory monitoring and reporting of unusual betting-line movements; a licensing protocol to ensure betting operators are legitimate; minimum-age verification measures; geo-blocking technology to ensure betting is available only where it is legal; mechanisms to identify and exclude people with gambling problems; and education about responsible gaming.” Since its publication, all of these requirements have been effectively met. Although not implemented yet, suggestions have circulated state legislations about imposing limits and screenings for problem gambling. In addition, more PSA’s about gambling addiction could encourage those to get help via popups on online gambling sites.
More Exciting Games
Lastly, this benefits the fans and the leagues because it makes sports more enjoyable to watch. Putting money on the line gives you a stake in the game, which enhances your viewing experience. Whether it be the Super Bowl or Indonesian Cricket, every sport is more interesting with money on the line. It benefits the leagues because they are receiving more advertising revenue as people are inclined to tune in longer with money at stake.
The person who got me into sports betting is my cousin, Emmett Sweeney, a diehard New York sports fan since he was born. We have been going to sporting events together since we could both walk, and have developed a love for sports over the last 20 years. That’s us to the right at the Fertitta Center in Houston, Texas after my SMU Mustangs lost to the Houston Cougars. Thanks to this experience and interest in sports, he has gotten very good at sports betting, to the point of where it has sustained his spending money throughout college. His in-depth intricate knowledge about leagues like the NFL, NBA, and MLB have helped him place smart bets that usually cash. Since last year, he is up $9,000. When I asked him why sports betting should go above board, he claims, “Why should I not be rewarded for my extensive knowledge sports?”
We both use the same betting app, Bovada, which claims to be based in Las Vegas, Nevada but provides no proof. Bovada thrives because it does not geo-locked and can have funds anonymously deposited and withdrawn through cryptocurrency which cannot be traced to specific names.
While we both like Bovada, more established, regulated players like FanDuel and Caesar’s Sportsbook provide promotions which can give experienced sports betters discounts on wagers. We both agree that if Texas ever legalizes sports betting, then we will certainly move to a different platform. More to the point, legalization provides competition, as now several sportsbooks have to compete over a single individual’s wager, providing more competitive pricing and odds for the better.
So why has sports betting not been legalized everywhere? The fear of gambling addiction. If measures could be put in place to ensure that safe, smart betting is always taking place, it would be a no-brainer to legalize. The most interesting part is that the political climate does not affect the legalization, but rather the economic situation of the state. States like Texas, Florida, and California have yet to legalize because they are the strongest economies in the nation. Aside from this, all sports enthusiasts everywhere can do is hope that legalization is on its way at a federal level.
