The Score on Legal Sports Betting

The impact of sports betting on fans and leagues in 2024

As sports betting moves out of the shadows, what’s the impact for fans and leagues?

The stadium erupts in a roar as the basketball swishes through the net at the buzzer. The home team has covered the spread – and fans who wagered on them are collecting their winnings.

Sports and betting have always gone hand-in-hand, whether legally or otherwise. But in recent years, legal sports betting sites like Ladbrokes Australia have exploded in popularity as more states enact laws to regulate and tax it.

This growth has implications across the sports world. How will expand legal wagering impact the games themselves? What does it mean for devoted fans seeking action on their favorite teams? And how are pro sports leagues reacting?

Let’s break down the wide-reaching effects of the sports betting boom.

A Long Time Coming

Gambling and sports have had a clandestine relationship for decades in America. The Professional and Amateur Sports Protection Act of 1992 (PASPA) largely outlawed sports wagering nationwide. But it remained popular on the black market, with an estimated $150 billion illegally wagered on sports every year.

With PASPA overturned in 2018, individual states can now legalize and regulate sports betting as they see fit. And many are moving quickly to do just that.

As of 2022, around 30 states offer legal sports wagering in some form – whether at casinos, racetracks, or online. That number is only expected to grow in coming years as more states join the action.

Bringing Betting Into the Light

What changed to make legal sports betting gain momentum? Public opinion, for starters.

One 2021 survey showed 55% of US adults approve of legal sports gambling. Voters want the choice to engage in – and tax revenue from – an activity they’re doing anyway through offshore sites.

But beyond public pressure, there’s serious money now aligned behind legal wagering. Media companies like FOX Bet and ESPN have launched sportsbook operations as the stigma around sports gambling fades.

The professional leagues themselves have evolved to embrace betting as a driver of fan engagement with their sports. The days when the NFL banned teams from running Las Vegas hotels due to gambling fears seem quaint now.

Follow the Money

So what do the numbers around legal betting actually look like? They’re eye-popping.

• $57 billion was wagered legally on sports in 2021 across 23 states that allowed it at the time. 
• Sports betting makes up an incredible 75-80% of gambling revenue in states where it’s operational. 
• Around 20 million Americans are expected to place a sports wager this year with the expanded market.

And this is just the beginning. One projection has the total handle for legal sports betting reaching $149 billion annually by 2025.

With so much money flowing into the sports gambling economy, where is it coming from?

Betting By the Numbers  

While images of packed sportsbooks and betting slips come to mind, most sports wagering happens online. Up to 95% of total handles are digital bets in states with mature markets like New Jersey and Pennsylvania.

This has accelerated a transformation in sports gambling demographics and behaviors. No longer the domain of smoky rooms and bookies, legal betting lets entire fan bases casually wager from their phones – whether at the stadium or on the couch.  

But mobile access comes with responsibility. Problem gambling continues to impact certain vulnerable groups. Resources should expand to identify and help at-risk bettors as legal wagering grows nationwide.

What’s at Stake for Sports Fans?

For devoted fans, the expansion of regulated sports betting removes friction from putting some skin in the game. No more shady offshore sites or risky local bookies.

Apps from household names like FanDuel and DraftKings make real-time wagering seamless. Payments are secure, winnings are reliable, and data is transparent. 

The sense of investment in a favorite team or player goes deeper when fans can legally back them too. This drives engagement and viewership – two metrics sports executives desperately want to maintain in a crowded entertainment market.

Leagues Shift Their Stance  

Speaking of sports executives, how do they view this betting boom changing their games?

After decades warning of integrity threats from gambling, most leagues now fully embrace increased fan engagement – and the corresponding revenue – associated with sports betting.

The NBA led the charge by partnering with bookmakers and data providers back in 2014. The NFL, MLB, NHL, and others soon followed.

Deals for direct data supply, sportsbook sponsorships, and gambling-focused telecasts all help leagues monetize sports betting while keeping tight controls in place.

Oversight protocols around game officiating and betting integrity remain paramount as more money flows through legal markets. But framed properly, leagues now regard increased regulated sports gambling as a rising tide that lifts all ships.

What’s the Outcome for Bettors?

For fans and casual bettors, the era of legal access to sports wagering has mostly upside. No longer limited to shadowy corners of the sports world, regulated platforms encourage transparency, safety, and responsible gambling behaviors.

The stigma around sports betting fades more each year as well-known brands market it just like other fantasy sports and games. While problem gambling continues for some, the overwhelming majority of fans can now wager modestly for fun without judgement.

For the sports industry, increased engagement and viewership drives higher value media rights and sponsorships. And from state budgets bursting with new tax revenues to economic impacts for local businesses, the economic influence of legal sports betting means more winners all around.

Sure, games may move a touch slower with more replays and booth reviews to get calls right. But the trade-off for fans is being free to bet on the action however they choose.

That’s a victory worth celebrating no matter which way the odds move.

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