US Sports Betting Scene Keeps Evolving
Industry insiders firmly believe that the world of US sports changed forever when the Supreme Court abolished a law that prevented states from deciding whether or not to legalize sports betting between their borders.
Before the ruling, only Nevada was allowed to offer this form of betting to its players. Some folks are pleased with the new regulation of the gambling pastime, while others are understandably a little more hesitant. However, no matter how the public feels, sports gaming still seems to be on its way to change the quintessential fan experience forever.
Some experts are of the opinion that people won’t consider sports betting to be on the same plane as casino gambling in the future. It is expected to be viewed as a completely different concept, and one that may look more like a Wall Street-type punting experience than a table-based one. Punters will be allowed to wager on the same team as often as once a week in the long-term, or they could even act like day traders, taking huge risks for equally monumental payoffs.
A More Relaxed Approach to Bets
As the 21st century wears on, players have adopted a far more relaxed approach to gambling, seeing it more as a form of entertainment than a vice or a danger. In the long run, this means that the public might be much more willing to incorporate bets into their entertainment schedule while enjoying live sports.
Before the Supreme Court’s decision in May, sports betting was confined mainly to underground markets, illicit offices, and dodgy land-based bookies. However, a new surge in technology has seen the entire industry beginning to shift online, enabling punters to place bets in more ways than one. Economists believe that before sportsbooks were legalized, over $100 million was staked illegally on sports each year.
The number of US states that are choosing to legalize the practice is also growing. This, in turn, has created an opportunity for the industry to go mainstream, with initial legalization estimates suggesting that market revenues could reach $20 billion just a few years after regulation. Naturally, this figure will also rise considerably as more and more states hop onto the regulatory bandwagon.
All-Day Entertainment for Fans
When looking at the future of sports gaming in America, economists view it as entertainment more than gambling. They have envisioned sporting entertainment complexes and flashy new stadiums with room for restaurants, bars, arcades and other great facilities – much like traditional casino resorts. There would also be plenty of room for gaming at these complexes, along with food, refreshments, and much more.
Some have dismissed these suggestions, saying that gambling does not need to be intrinsically tied to sports events. However, European markets have already launched the concept with great success, with their teams currently having gaming sponsors and in-arena wagering opportunities. Essentially, the US sports industry could very well end up resembling any other business, offering an enriching all-day entertainment experience for local fans.