How Betting Will Change the Sports Media Business
While some expansion of sports betting will happen soon — brand-new Jersey, the state at the center of the Supreme Court case, could be ready to take bets in weeks, along that has a handful of additional states have recently passed sports betting laws — a full build-out won’t be immediate. Betting could eventually be legal nationwide, yet there is actually a legal morass to navigate before that will happens.
Both the N.B.A. along with N.F.L. have called upon Congress to pass federal legislation to regulate sports betting, rather than having a patchwork of 50 state laws, along with Senator Orrin G. Hatch of Utah has said he intends to do so. Sports leagues, unions representing players, casino companies along with Native American tribes are jockeying to shape the laws that will will regulate sports betting to make sure they get a big cut of the action.
After Monday’s ruling, the major sport leagues were careful to focus on the need for consistent regulation along with measures to maintain the integrity of their competition, rather than any potential windfalls via increased interest along with sponsorships.
“Congress has long recognized the potential harms posed by sports betting to the integrity of sporting contests along with the public confidence in these events,” the N.F.L. said in a statement released Monday. “Given that will history, we intend to call on Congress again, that will time to enact a core regulatory framework for legalized sports betting.”
Beyond the impact on media rights, the court ruling is actually poised to change everything about the way Americans consume sports. Imagine betting windows inside of stadiums; casino advertisements everywhere the eye can see, as they are in Britain’s soccer stadiums; in-game betting on your phone while sitting inside an arena (or while sitting at dinner with your family); along that has a crop of brand-new shows on ESPN along with additional sports networks dedicated to betting lines.
Daily fantasy has always been a hair’s width away via sports betting, along with the companies involved have a couple of big advantages in becoming bookmakers. The two largest of the daily fantasy companies, DraftKings along with FanDuel, announced on Monday they intend to do. DraftKings says that will has 10 million registered users, while FanDuel has 6 million, all with credit card numbers already on file. Both companies say they wish to be up along with running when the N.F.L. season starts in September.
If they can follow-through on that will commitment, that will may give the N.F.L. a better chance of reversing two years of declining television ratings than any marketing campaign that will emerges via the league’s Park Avenue headquarters.