Major League Baseball signed a partnership with DraftKings, the outstanding fantasy sports provider. This multiannual contract will have huge benefits for both signees. But what could that possibly mean for the States?
Sports Betting in the US
States, casinos, as well as sports teams and fans all over the U.S. are looking forward to the Supreme Court finally legalizing sports gambling. So far, only six states have officially approved sports gambling, while thirteen more are in the process. It is expected that by 2024, forty U.S. states will have authorized sports betting.
In the long run, the benefits of sports gambling are multiple not only for the betting operators but also for the states. Perhaps the most significant one is the brand-new source of income. Namely, two years ago, the U.S. residents spent a whopping $150 on sports betting. Unfortunately, out of the total sum, just $4.9 billion was legal. These figures imply that the U.S. is losing enormous amounts of revenue that could be utilized for improving specific services.
With the new states passing bills for legalizing sports gambling, it is estimated that it will initiate an almost brand-new industry. Its revenue will amount to $400 billion. But until the majority of the states legalize sports betting, gamblers have slots and table games at their disposal. Have a go and visit this site for some of the best slot games.
The Partnership Details
The contract signed between DraftKings and MLB might be a giant step for the realm of sports gambling. Besides being highly profitable for both parties, it will promote and popularize sports betting, especially fantasy sports. The contract enables DraftKings to advance its betting offers. Besides MLB’s logos and markings, the fantasy sports provider will get the opportunity to utilize official Major League Baseball data for their gambling products.
Furthermore, since the popularity of live and real-time gambling is rising among U.S. gamers, the growing betting potentials are being focused on in-game, as well as live alternatives. Commenting on the deal, DraftKings has stated that it illustrates MLB’s design to influence the capacities for integrating formal information and technologies in sports.
Back in May, an article published on Sports Handle alleged that both MLB and NBA employed Sportradar U.S., their formal information supplier, to incite operators regarding integrity commission. The article explained that numerous operators that had bought Betradar, the Sportradar official information feed, were proposed new conditions prior to the NBA playoffs. Accordingly, sportsbooks were notified that they ought to pay a 0.25% royalty fee on bets placed on MLB competitions in order to approach the league’s official information. What about the NHL?
DraftKings was invited to comment on the alleged integrity fees. Chief Business Officer, Ezra Kurcharz, explained that the contract they had signed with MLB expressed the operator’s commitment to their clients, as well as similar sports leagues. At the same time, they were granting the most secure and enjoyable U.S. sportsbooks.
Kenny Gersh, the Executive VP of MLB, stated that it was the overall engagement to implement some novelties in the U.S. sports gambling marketplace that had encouraged them to grant all tools to DraftKings. Those tools, which include quick, abundant, and stable information feeds, along with MLB logos and markings, will be crucial for designing mighty new methods to relate and consume the sport.
Why Legalize Sports Gambling?
Politicians adore income harvested from so-called “sin taxes” — drinking, smoking, and, eventually, gambling, as they are not obligatory. Furthermore, the leagues consider gambling as a means of infusing interest in their games. If a game becomes unfair or biased, common fans may simply leave the playground earlier or switch the channel. Gamblers, on the other hand, remain on their spots, longing to see whether they will win or lose their bets.
Peter Guber, the owner of the Golden State Warriors, has alleged that he wants all fans to participate in the game not just to watch it. NHL chief revenue officer, Keith Wachtel, has stated that gambling income is, in fact, a reconsideration for owners. According to him, persuading fans to be even more immersed is “the holy grail” of sports gambling.
The increase of legalized betting implies the rise of gambling addiction as well. In fact, researchers estimate that even 2% of adults are prone to compulsive gambling. Arnie Wexler, an advocate of compulsive gambling, explains that legal sports gambling might incite an eruption of gaming addiction in the U.S. The issue may become even worse in case that sportsbooks include promotional bets in their offers.
Therefore, the issue must be approached very seriously. In fact, certain initiatives should be started to prevent addiction and promote responsible gaming. Sadly, not all states have enough funds nor donations for such initiatives. So far, the National Council on Problem Gambling from Washington D.C. has been cooperating not only with the state but also with the country’s officials to come up with programs which will deal with the issue of addiction and compulsive gambling.
Nevertheless, the advantages of legalized sports betting are numerous and obvious. Not only is there a rising demand for the industry, but people are also willing to invest in it and gain profit. This profit will further create numerous job position and advance the U.S. economy.