Finance

Sports gambling to provide windfall for sports leagues

windfall concept

As the USA continues to legalise sports betting across numerous states, professional sports leagues appear to also be changing their opinion on the matter.

Initially those leagues poured scorn on the idea of opening up their sports to gambling without what was described as an “integrity fee” but now they have found other ways to make betting on their products just as much of a money-spinner.

The National Basketball Association (NBA), National Football League (NFL) and the Champions League have already started making sponsorship deals that make them huge amounts of cash.  Meanwhile the National Hockey League (NHL) has already been in the vanguard when it comes to such deal-making.

The NHL has shown the way after signing up for several gambling-related companies.  Casinos, fantasy sports leagues and sportsbooks are all in league with the NHL as official partners meaning they are pumping money back into a league that provides them with revenue via betting.

The NHL are doing the right thing in seeing things very simply; if teams profit from sponsorship deals, then everyone will profit.  America has been losing billions of dollars in tax revenue and sponsorship having kept sports betting illegal as patrons in most states have not held back on their penchant for having a bet.

Those bets therefore have been placed “under the counter” or via websites based overseas and that means lost tax revenue and no opportunity for the leagues to cash-in legally.

The NHL’s revenue increase is expected to be up to $216 million which can lead to more profits for the league and higher salaries for those working and playing within it.

Sports betting is here to stay in the States and it seems its high time the NBA and the NFL jumped on the bandwagon before too much more is lost.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The Latest

To Top