Leagues want a piece of legalized sports betting
In terms of the five major sports bet on in the United States (NBA, MLB, NFL, CFB and CBB) there is simply no way of knowing the actual size of the market. What we do know is a vast majority of the money being wagered is either offshore and or offscreen (i.e. local bookmakers). Various sports leagues appear to be gearing up for some sort of regulation and of course, they want a piece. The NBA says it wants 1 percent of every bet made
. That's a fine idea but 1% of every bet made at U.S. regulated sportsbooks would be peanuts compared to what has and will continue to be wagered on offshore. Under the proposed format (increased juice, limits, credit cards and the potential to be taxed), there is simply no reason to think serious bettors, who account for a vast majority of the world wide handle, are going to play at an U.S. regulated online sportsbook. Maybe the leagues already understand that. But we can’t help but get the feeling that this projected “explosion” of sports betting, should it be legalized, is not going to be the cash cow some folks are banking on.
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