Sports betting for US economy is becoming increasingly important!

  • Copy URLURL kopiert!
  • Share on Facebook
  • Share on Twitter
Maximilian Deininger July 4, 2019

The sports betting industry is changing – for legal! A study from 2014 could still find that around 80 percent of global sports betting is given on the black market, but a lot has happened since then. In many countries, the state has given up its monopoly position and sports betting is now very often offered legally by private providers. The example of the United States is impressive what economic effects this can have.

The legalization of sports betting is immensely important for the United States, special for the economy. (©Pixabay)

A billion market opens in the United States

Year after year, sports betting in the USA was given in billions. According to estimates, the Sales figures between $ 50 and 150 billion annually! this is quite impressive, considering that for a long time it was actually only approved in the state of nevada to legally offer sports betting. there, the annual turnover due to sports betting was “only” to just under $ 5 billion. in the usa, the sports betting business consequently ruled the black market for a long time. with the Legalization of sports betting, We already reported about itthe sales figures may still rise a little. However, a large part of the turnover also does not apply to the so-called fantasy sport, which is almost unknown in Europe. This can be legally offered in the United States because bets are not placed through bookmakers, but the “opponents” are only other people. Good to know: according to estimates, around 56 million americans play Fantasy Sport. Depending on the sport, your own teams are put together with personal favorite players. Depending on the performance, points are awarded to the players after each matchday. At the end of a season, the team wins with the most points – and their owner or founder has – depending on the provider and commitment – the chance of gaining a million.

For the United States and especially the individual states, the legalization of the sports betting market should definitely be worth it financially. the American Gaming Association calculated that after legalization Tax revenues of around $ 8 billion would be incurred – and that for every state. In addition, GDP would increase by $ 20 billion and hundreds of thousands of new jobs would be created. However, there are also clear guidelines that are currently missing.

“A tax of 6.5 percent is currently being charged in Nevada, a tax of 34 percent in Pennsylvania. In New Jersey, sports betting in casinos and on race tracks with 8 percent and online sports betting are to be taxed with 12 percent. The states also have to determine where they allow gambling and whether they allow online bets. ”

Numerous US companies want to pay with sports betting cash register

According to the recent changes in the law, it did not take too long for the first US companies to formulate their own plans on how they could participate in the new legal billion dollar market. In addition to numerous sports betting providers from numerous countries and the US sports clubs themselves, for example, many also deal with many Social-Media platform now with sports betting, including big names such as , or . above all, however, it is still unclear how the Cooperation between sports betting providers and sports clubs should run. unlike in many other countries, the large sports clubs from the nba or mlb do not want to leave the entire market so easily to private gambling companies. there is currently talk that so -called “integrity fees” are to be collected by the respective sports clubs. since sports betting arises from the club games in the first place, the sports clubs also have a claim to the profit sharing. how high this fee should and will be in the end cannot yet be said. in general, there is talk of the us sports clubs at least one percent of the income want to get. However, this proposal encounters plenty of resistance. The casino lobby in particular does not seem to be ready to pay this sum. The core argument is that the entire US sports industry already benefits through the legalization of private sports betting.

Do sports clubs actually benefit automatically?

So how should the US sport benefit from sports betting legalization? This should be done above all about advertising. Statistics show the background: a fan of the National Football League (NFL) on average around 16 games live on tv per year or season. however, this applies only to spectators who do not give sports betting. for football fans, who also regularly bet on nfl games, the average number of games that are followed live on television increases to up to 50 games. after the legalization of sports betting, the Extracting ratings extremely, which in turn could be sold more expensive and the clubs would collect higher tv money. apart from that, there are of course other profiteers. because of course, new ones would also Start-ups Whether in the betting industry or elsewhere, listed companies would probably experience enormous increases in value, etc. In the end, sports betting, despite many reservations, would have a positive effect on many different areas, people and companies, at least from an economic perspective.