Are Professional Sports Teams Drooling Over Sports Gambling Money?
I offer a rhetorical question to start this story: Are you interested in the possibilities Sports Gambling will provide you?
Though to be perfectly honest, it probably doesn't matter what you--or I think about it because if you run a Professional Sports Franchise--you're undoubtedly excited.
Why? Two Words: Revenue Stream
Yes, believe it or not, the decision to allow Sports Gambling to happen will mean at least Professionally there will be yet another way for the teams to make more money.
Potentially a lot more.....
Think about it. You decide to go to your local Major League Baseball park to take in a game. Imagine walking through the concourse and next to the Concession Stands and Team Shops is a stand offering the latest bets on who will win, by how much and prop bets on any number of potential things that could happen over the course of a game.
You wander in and drop $5 or $10 on your favorite team to win. Maybe you drop an extra $5 on how long the starting pitcher will last. All of that on top of your ticket, your $12 beer and $6 hot dog.
Who's going to get the money you dropped on the bets? The Sports Book? Yeah, they'll get some of it.
Who will profit the most? The home team.
Think about it. A Sports Book pays the team to lease space in the stadium. As part of the lease, they're required to give the team a cut. The Book may not be thrilled about sharing profits, but hey, they are buying exposure to a potential 30-40,000 people they used to not have access to.
Which is my point.....
I personally am not a fan of Sports Gambling. In MY opinion, Pro Sports Gambling is not a big deal, it is the College Part of it that concerns me. It is easier for Pro Teams to regulate and control who is betting on their games, College, not so much.
There are a litany of stories about College kids who burn through Mom and Dad's credit card gambling. If you don't think it is a problem, you haven't been around College Kids. Yeah, sure, Power 5 schools will make a shit-ton of money too by adopting a similar model as the pros.
And while Professional and College teams are and will have to be ungodly vigilant about game fixing and play fixing, the idea of allowing a Sports Book is and was inevitable.
For all the harrumphing the NFL, NBA, Major League Baseball, The NHL and MLS will do about trying to regulate and control the myriad of problems this could cause, they'll do it. There is talk they'll require the Sports Book pay them a form of a tax .5 percent or something like that to go towards enforcement.
Even if they have to pay a monitoring company $10 million a year to keep an eye on dramatic betting swings and other clues there may be a fix in play, it is pocket change compared to the profit they'll draw from this. Profits that will only be a small percentage of what is wagered. Profits that will line their pockets and maybe....just maybe will keep them from continuing to jack up the prices of tickets and concessions at your favorite ballpark.