Earlier this year the legalisation of sports betting caused quite a stir. While many sports teams were against the idea, many states are welcoming it as the economy starts to see a huge boost.
The market will be worth billions of dollars, with the likes of Nevada, New Jersey, Delaware, Mississippi and West Virginia already having passed bills to allow sports betting.
That’s seeing sites such as Gambler Saloon thrive, with online sports betting having quickly become part of the norm. Which may certainly turn the heads of those sports teams who were originally against the idea.
It’s anticipated that ice hockey team the New Jersey Devils will boost their income by $5million, while you only need to look at sports outside the country to see how much money they’re now benefiting from.
Most Premier League soccer teams in the UK are affiliated with betting companies today. In fact, almost half of top flight teams have betting companies as shirt sponsors, while 17 of 24 teams in the league below are the same.
In Italy it’s a similar story, with around $140million going to the 50% of teams that have betting sponsorships.
More and more partnerships are now starting to emerge. The Devils are keen to make the most of being in New Jersey, while the NBA agreed a landmark deal with MGM, with the world famous casino brand becoming the official gaming partner.
Adam Silver, the NBA commissioner said, “As the landscape for sports betting in the U.S. continues to evolve at a rapid pace, MGM Resorts is a proven gaming leader for us to work with on this groundbreaking partnership.”
What it will do is set a precedent and begin a wave that will see many leagues and franchises partner with casinos and betting firms.
The NFL have allowed franchises in the league to partner with betting companies if they so wish, while that will almost definitely also push into the NHL and Major League Baseball too.
It’s going to earn franchises billions, and those in states which already have had laws passed are certainly at an advantage. It’s a game changer alright and it’ll be interesting to see who it also affects on field matters.
The Premier League and other sports leagues across the world have become super powers with the help of it. Will it help further in the globalisation of US sports and franchises?