In many parts of the world, a sport betting is considered illegal and most of these sports betting sites whether it is on land or in the internet operates under the radar but with the ruling of the United States (US) Supreme Court’s lifting of the ban on sports gambling earlier this month, it may create chain reaction across the globe.
The United States alone has a massive and thriving sports betting and gambling industry amounting to $150-billion dollars and with the ruling of the U.S Supreme Court, majority of the states would likely follow the new rule which was voted, 6-3, in favor of the State of New Jersey which challenged the law which allowed sports betting and sports gambling to legally happen in Nevada, particularly in the Sin City, Las Vegas and three other states.
The U.S Supreme Court found out that the 1992 Professional and Amateur Sports Protection Act of 1992 has discrepancies and was found to be unconstitutional.
In this article, let us discuss the impact this law will make in both the gambling and sports industries in the United States and how it will create an impression on a global scale.
When it comes to the impact it will create in the gambling industry, for sure it will generate more income and the projected amount of this industry before it was legalized was already $150-billion dollars and many sports book operators and online sports betting sites projected that it will double in the next few years.
According to dewatogel, a Singapore based sportsbook that the legalization will benefit not just both industries but also the viewership that is provided by media companies and television networks as well as the consumption of sports contents such as magazines, blog posts, reports and the overall interest of people into sports because money is already involved even more than before.
However, professional leagues in the United States already want a slice of the pie in sports betting by requesting lawmakers to pass a law to tax sports books and online betting sites which they bill as “Integrity Tax” wherein they will receive a percentage of the states that allows sports betting and sports gambling’s’ taxes regularly. The reason for this is that these professional leagues and competitions want to utilize the funds for security purposes and to police their ranks for game fixing and other forms of cheating which is the result of the legalization of sports betting.
As we all know, the legalization of sports betting could be used for criminal activities and could be taken advantage of underground mafias by ensuing game fixing and other forms of cheating that favors their side that is why these professional sports leagues are pushing for “Integrity Tax”. Professional leagues such as the National Basketball Association (NBA), National Football League (NFL), and combat sports such as boxing and Mixed Martial Arts (MMA) want 20-percent of the entirety of the income of the state that legalizes sports betting to serve as its income to be used as funds for its integrity tax.
The legalization of sports betting and sports gambling in the United States will forever change the face of sports and gambling but with uncertainties that will come along the way.