Sports Betting News In America
As the ongoing coronavirus pandemic continues to cause widespread effects throughout the sports world, I know what you’re all thinking, how will sports betting boom amidst the coronavirus when there is no sport?
Well, as the President and Governors start to ignite a way to revive the economy it is becoming apparent that Sports is on the agenda in the near future. Optimistically June at worst potentially July/August. There will be no crowds present and from a betting aspect very speculative as to how the games and seasons will commence. How would the NBA react if Lebron James was to test positive to coronavirus in game 3 of the Conference finals? Would the Lakers be suspended from play or would each individual just be tested? Although we don’t know many of the factors as of yet, it does appear the President and States are on the same page in restarting Sport as a sign of life back to normal and belief within America.
How does this impact the Sports Betting industry?
No fans at games is a huge dampener on the competition, from the players reactions, to loss of income, to loss of jobs and the overall atmosphere of the stadium.
Put quite simply what this does mean for Sports Betting is increased online activity and fan liquidity. If fans can’t buy $15 beers and pay $250 a seat at the stadium there is an increased chance they are to enhance their matchday engagement via online sports betting. Fans at stadiums are engaged in the arena itself, the live entertainment. But a fan sitting on his couch is usually surfing the internet at the same time, which boosts the sports betting industries opportunity to acquire players and boost engagement.
Then there is the opportunity for the States and economy themselves. Major US economies are struggling with record number or job losses due to the coronavirus pandemic. How do States raise taxes and revenue to survive the pandemic and bolster funds for much needed industries? The legalization of Sports Betting! The Sports Betting industry can not only provide major job numbers but help raise revenue and tax dollars for States in much need of funding to restart the economy on a State by State scale.
What Companies could have major benefits of States rushing the ballot to legalize Sports Betting?
MGM Resorts
Penn Gaming
The Stars Group
ASX – Pointsbet – PBH
Future betting the NBA, MLB, NFL,
The answer has to be a clear NO. Future betting cant be trusted as long as the virus is present. We do not know if sports will be shut down again, how officials and franchises will react to 1 player on a team coming down with covid19? Imagine the NBA finals Milwaukee Vs Los Angeles and Giannis Antemnountkop could not play and tested positive after game 1? Sports back is a great result, we have to understand that we must adapt and that it won’t be business as usual until we have a vaccine.
Nearly two years after the US Supreme Court struck down the federal ban on legal sports betting, nearly 75% of US states have either legalized sports wagering or introduced legislation to do so. The appetite is there, amongst the madness and uncertain times of this pandemic this could present a boom season for States to legalize and regulate online sports betting in America.
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