Is Sports Betting the next gaming revenue stream?

Adam Silver, the Commissioner of the NBA has come out with a stance that the public has been waiting for. He stated in an open letter to the New York Times that it was time to embrace sports betting and change the laws that prohibit Americans from doing so. The social acceptance of gaming  has prompted this position. A poll conducted by the Seton Hall Sports Poll on Legalizing Sports Betting  concluding on Wednesday Nov. 19, cites that the vast majority, 72%-20%, agreed with him that gambling has become a popular form of entertainment.

This come at a time when states are in dire need of revenue. For instance, at least 44 states and the District of Columbia have reduced overall wages paid to state workers by laying off workers, requiring them to take unpaid leaves, freezing new hires, or similar actions. State and local governments have eliminated over 380,000 jobs since August 2008, federal data show. Such measures are reducing not only the quality of services available to state residents but also the purchasing power of workers’ families, which in turn affects local businesses and slows recovery.

 

Sports betting is an activity that is being conducted on line in homes throughout the country illegally. If not electronically, then via telephone or face to face with a bookmaker.  The above mention activities do not generate any tax revenue. They are not secure either. A site could conveniently close on you while they owe you money. The bookie could discontinue taking your action. But if I wager with an established betting parlor, I am guaranteed to get my money . The rules of accountability apply to everyone. The league gains due to the increase interest in the game.

Halftime,in game wagers and prop bets would raise NBA toward NFL popularity. Okay, I am excited  but you get my point. Creating interest in the game makes people watch. If you have a wager you will tune in. The wider the fan base, the larger the audience. Marketing and advertisements increase their spend.

 

2015 Attendance		Home				Road			Overall
RK	TEAM	GMS	TOTAL	AVG	PCT	GMS	AVG	PCT	GMS	AVG	PCT

22	Pacers	9	143,502	15,944	87.8	11	18,379	94.9	20	17,283	91.8
23	Suns	10	157,663	15,766	85.6	11	17,293	89.1	21	16,566	87.5
24	Hawks	11	173,054	15,732	84.0	8	18,229	93.6	19	16,783	88.1
25	Pelicans	7	109,558	15,651	91.1	12	18,034	93.6	19	17,156	92.7
26	Nuggets	9	136,622	15,180	79.2	11	17,479	91.0	20	16,444	85.7
27	Timberwolves	9	134,831	14,981	77.4	10	18,013	95.5	19	16,577	86.8
28	Bucks	10	145,767	14,576	77.9	12	17,289	87.5	22	16,056	83.3
29	76ers	11	157,467	14,315	70.4	9	17,607	91.2	20	15,796	79.5
30	Pistons	12	166,126	13,843	62.7	9	17,182	89.9	21	15,274	73.4

The fans may decide to go to more games and attendance goes up.

All from the possibility of making a bet on a game. It's being done in Europe without any problems. It's done in Nevada without difficulty. Read David Weinberg's article in the Press of Atlantic City. I love his analogy comparing wagering in two casinos. So why not here?

Silver said he plans to speak to Congress. Are they prepared to listen?
 
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