Until May 2018, the United States had no way of allowing people to place a wager on sports. This changed after the U.S. Supreme Court struck down a ban on sports betting known as PASPA. This occasioned unprecedented growth in sports betting activities with over 12 states quickly opening for business.
First, there was talk for royalty fees. All major leagues in the United States, including the MLB, NFL and NBA said that they would expect betting operators to pay them a royalty fee to help the leagues prevent corruption and match-rigging.
Many great betting agencies, including https://hockeygamebets.com have shared their concerns that these fees wouldn’t help the game be fairer in any way. When you bet on hockey online, you have no way of knowing whether a game has been fixed, other trusting the NFL and the hockey bookmaker that they have checked potential frauds.
Hockey bets are placed in relative security, however, and there is nothing concerning about this specific segment. More importantly, no royalty fee has helped the NFL keep its league free of any attempts to cheat.
After a while, most leagues came around and they started dropping their requests for royalty fees. It was at that point that the true benefits of sports betting have been seen. Sports betting agencies are contributing around 5% of their gross gaming revenue to sports and youth activities in various states across the United States.
In the United Kingdom, for example, horse racing is largely subsidized by the same race books that offer bets on the outcome of horse races in the first place. It’s an interesting balance that has been achieved after years of concentrated effort.
Yet, the upside is quite positive. Sports tend to grow out of sports betting activities. This means better care for athletes, the public and youths. In horse racing, once a horse retires, the funds from sports betting agencies are used to guarantee the animals a better retirement scheme.
While many argue that sports betting has only downsides, this is not quite true. There have been many opposite effects as well, including a growth in viewership for most sporting events. This is all thanks to man’s love to play with the fates.