The Future of Sports Betting in the US
Legalizing sports betting has become increasingly popular since 2010, and there are bills being introduced in states all over the country. Some would establish sports betting markets similar to New Jersey, while others would regulate it differently, such as Mississippi. These bills would determine tax rates and models for the number of sportsbooks. One thing is certain, however: sports betting is here to stay in the United States. Online sports betting is becoming increasingly popular as well. In this article, we’ll cover some of the most important issues related to the legality of sports betting, including the impact on viewers.
Legalization of sports betting
Sports betting in the US has been on a dual track for years, and in recent months, more states have enacted legislation allowing for the activity. New Jersey, for example, is likely to begin legalizing the practice in June 2018. The NFL and NBA have also asked for federal legislation to standardize regulation of sports betting. In addition to the Supreme Court, other states have also considered legalizing sports betting. The future of sports betting in the US is now in your hands, so how do you become a part of it?
Types of bets
If you have a favorite team and are planning to bet on it, you need to know the different types of bets you can place. For example, you could bet on the New York Yankees to win and lose. You could also bet on a point spread if you think the Yankees will beat the team that is listed as the underdog. In baseball, the favorite team is usually designated as the team with a minus symbol, while the underdog team is usually marked with a plus symbol. In hockey, you can bet on the total goals scored, which is a popular bet in the league.
Safety of funds in sportsbooks
While online sportsbooks are generally safe, you should be wary of illegitimate operations. Illegitimate sportsbooks often skirt around the use of SSL, the standard encryption method for web sites. They may also lack a customer verification process and don’t care about their reputation or legal compliance. Instead, they care about the money. A safe sportsbook will offer standard forms of funding and avoid the “charity” ploy.
Impact on viewership
One study suggests that the increased popularity of sports betting may have a negative effect on television viewership. While sports betting does increase viewership, it can also diminish engagement. While people who never bet on sports tend to watch fewer hours on TV, those who wager more than once per week watch nearly double the amount of time. The relationship between sports betting and viewership appears to be highly linear. Regardless of the reasons for this phenomenon, there are important factors to consider.
Impact on advertising
At a recent conference in New Jersey, leaders of the American Gaming Association discussed the impact of sports betting advertising on consumers. The study showed that aggregate exposure to wagering inducements was related to higher odds of betting and greater spend when participants made bets. Aggregate advertising was positively related to betting even when the individuals were not intending to make bets. However, direct messaging was not associated with betting intentions. While the effects of advertising on sports betting have been studied, it appears that some companies will fall into bankruptcy if they do not moderate their marketing.