Gambling and pro sports: a marriage made in heaven
It’s been a big week for gambling. The expansion Vegas Golden Knights – the home of the Las Vegas sports books – continued hitting blackjack on their way to the Stanley Cup Final.
And, in a U.S. Supreme Court ruling, the ban on sports wagering outside Nevada was struck down. Now states can allow legal sports betting at licensed outlets. (How much online betting will follow is still up for debate.) It’s a one-two punch with the anticipated legalization of marijuana that bankrupt governments hope will replenish their coffers.
There’s considerable excitement in the gambling community and plenty of questions about how this will affect the North American pro sports leagues upon which they rely. Much of the speculation centres on how the leagues – now freed from their puritan stance on the billions in illegal U.S. gambling that always existed – can monetize the tsunami of cash expected to roll in.
A brief glance at Britain shows how seamless the marriage between gambling and pro sports has become. Premier League football (soccer) teams prominently feature their sponsors in the gambling industry on their jerseys. Sideline and end-zone bet-shop advertising are ubiquitous. The TV networks’ broadcasts of the games are dominated by the gambling message.