If you read enough about sports betting, youll hear this number repeated often: 52.4% of sports betting happens on the Internet. But this isnt quite accurate. Its more like 50% if youre comparing bookmakers.
In 2012, most of the revenue from online sports wagering came from poker and blackjack, but now a days there are many more options that can be found in websites like FanDuel.
The other big revenue stream is sports wagering on the radio and television. The big leagues have TV contracts that cover the vast majority of the sporting events.
For instance, just the NFL broadcast network produces about 14,000 hours of coverage of NFL games each year, and each hour of games has around $1 million in revenue. For all the networks, this is a huge amount of money.
Poker is similar. Paddy Power puts the number at 13 million hours per year, and some of that is on the TV, but a great deal more is on the Internet.
Online sports betting accounts for about half the revenue of all the online gambling. Online gambling has become a $90 billion business.
So I have been doing research into this, and the answer is, yes, if they have such an arrangement, then they get to do it. However, there is an issue with it. First, if it is all online, why do the sports leagues need their own TV channels? Well, the answer is, it’s the pay-per-view, where the sports leagues, once they’ve sold tickets, get the money. With online gambling, they don’t sell tickets, they don’t get a dime. They get a rake, so it’s not a way to sell tickets to fans.
But even if it’s all online, why do they need a TV network? Well, because if they sold tickets, they would be losing money. They would lose money if the bettor didn’t show up. So they need TV in order to make that money back. Now, online betting is not illegal, but it’s not legal either. That’s why the networks have made it illegal.
Gotta Love The Sports Betting Bill!
So we’ve established gambling is legal, but it’s illegal. What about the sports betting bill? Well, it’s a lot more complicated than just say “legal, illegal, legal”.
Legislators from all over the place, in both the House and the Senate, have been drafting and debating this bill. A lot of it has been focused on the question, “Will betting make America better?” The answer is no, but sports betting is more popular, and there are more people who care about it, and more who want to get involved. The argument for legalizing sports betting is simple: It’s a way for people to be more connected to sports, to be more involved in their favorite sports. It’s important because sports betting has proven to have more positive impacts than negative ones, especially in the areas of health, education, and community