NCAA and the big four sports federations are feeling restricted on legalisation gambling on their games due to strict legal guidelines and oppositions. According to the studies of American Gaming Association (AGA), bettors actually wagered almost around $139 billion on sports betting in the previous year. In fact, in the month of March only, the amount reached to $9 billion. Furthermore, the industry observers believe that the amount has actually reached $400 billion. In addition to this, The Fantasy Sports Trade Association (FSTA) mentioned that the bettors spent $15 billion in the previous year.
Although fantasy sports is usually not considered as betting, it is something that is going to define the sports market in the coming days. FanDuel and DraftKings have become the most favourite choice of the bettors and it is getting more popular day by day. It is true that with the advent of technology, gaming applications have become like an appetizer for the people. Recently, DraftKings advertised and ensured people saw what they have to offer-$1 million in payoffs are guaranteed, with first place taking home a cool $100,000! No doubt, these sites are doing practically everything to attract the attention of players. On the other hand, FanDuel has promised its fans $2 billion in payoffs this year.
Adam Silver’s Take on Gambling
Adam Silver, the commissioner of NBA has made it clear that NBA will be all proud to be the first American pro sport to permit legalised betting. It will be glad to allow government controlled betting and offer something great to the punters. In an interview with NY Times, he remarked that it is very necessary to bring changes to the status of sports betting in the US. He acknowledged the illegal amount being wagered on sports until now and believes that things can turn better with strict federal control laws. This statement has stirred the headquarters of NHL, NFL, Major League Baseball and NCAA. In fact, it will not be a surprise to see all of these walking right behind NBA when it comes to legalising sports betting.
The commissioner also mentions that Grizzlies organisation can be termed as the best since there were no other sports books in Tunica. He unfolded the fact that the money that Grizzlies produced for sponsorship, advertising and ticket sales was from the Tunica casinos. This revenue filled a gap that was based on lack of other industries. Since more and more states are getting worried with their dwindling tax revenues, it is expected that college and pro sports will face challenges.
While talking about NFL, it has been operating legally since 1961, as the betting shops were legalised in England this year. The company is lucky enough to enjoy the partnerships with FanDuel and DraftKings. It has played various games at Wembley Stadium and it is expected that NFL is soon going to locate an expansion team in London or it may totally move its present franchise there.