The Undeniable Truth About Sports Betting
In 2018, the Supreme Court ruled that the Professional and Amateur Sports Protection Act of 1992 violated the Constitution, ultimately overturning the federal ban on sports betting.
People residing in the United States can now bet legally on a state-by-state basis. Since 2018, 38 states have chosen to allow legal sports betting, and many laws and regulations have also been implemented to ensure a safe betting environment.
The Supreme Court’s judgment to overturn the federal ban on sports betting has shown positive effects from many different angles; not only do the 38 states that participate in legal sports betting get benefits from that, but they also provide a layer of safety for sports fans worldwide. Ultimately, this decision is extremely reasonable, and there is not only a large percentage of the U.S. population to back it up but also legitimate statistics to showcase the positive effects.
Betting on sports dates to the ancient Olympic games around 700 to 800 BC, but gambling, in general, has been around for much longer. The Business of Sports Betting by Becky Harris, John T. Holden, and Gil Fried outlines how lotteries helped pay for many of America’s first public buildings; in fact, the Revolutionary War was funded in part by a lottery authorized by the First Continental Congress in 1776.
When sports betting was deemed illegal in 1992, it flourished regardless of its legality. An article from The Perspective talks about how illegal sports betting was already a multi-billion-dollar industry. Therefore, anyone who wanted to place a bet could do so very easily. In 2018, estimates were up to $150 billion for the illegal sports betting industry.
Due to this constant demand from sports betters, states deserve to benefit from the betting happening within them. Since making sports betting legal, it has opened so many new opportunities from the economic perspective, such as better tax revenues and an estimated potential for 100,000 new jobs. The regulated industry grew from $38 million in revenue in 2018 to more than $1 billion in 2022.
Some question the authenticity of the game, with sports betting legal through unfair cheating and manipulation by athletes. However, the government holds key roles within the sports betting industry. Along with this, many states have raised the age limit from 18 to 21 so that people can legally bet. Putting parameters on this hobby as well as legalizing it allows for easy access to desired betters on how to safely and properly sports bet.
However, some people suspect athletes are throwing games to help hit bets. These statements are not only offensive to the hard work and dedication these athletes put into their sports but they have also been proven incorrect by regulations. Most organizations, such as the NBA and NFL, prohibit their athletes from betting in their league; it goes so far as an NBA player cannot bet on the WNBA.
Sports betting doesn’t change the world of athletics; it just provides an extra layer of excitement that is voluntary, so if you don’t like it, you don’t pay attention to it. Michael Ricciardelli & Marty Appel did a study to see what percentage of the U.S. population believes sports betting should be legal, and the findings are clear cut. The article “Poll: More Than 50 Percent of U.S. Say Sports Betting Should Be Legal” lays out that within the general population, 54 percent believe sports betting should be legal, with just 22 percent opposed.
For people who consider themselves sports fans, the number rose to 62 percent (20 percent opposed), and people who consider themselves avid fans are at 74 percent and 15 percent opposed. The Supreme Court and the majority of the U.S. population agree that sports betting should be and stay legal, and in return, we will continue to see the positive outcomes from this decision.