Legalized Sports Betting Could Change the Game

Sports betting

It’s Happened, Now, What Will Happen

So if one is positive the Washington Nationals will repeat as World Series Champions in 2020 and wants to place a bet on it, there are ways to go about it without breaking the law or waiting for legalized sports betting.  

Someday, waiting will not be an option. Sports betting will be legal in the United States. The NBA wants it to happen. The NHL has a franchises in Las Vegas and the NFL has one relocating there. This signals that they are not afraid of being close to legalized gambling.

Also, the President of the United States, Donald Trump, a former casino owner, is open to the idea of legalizing it. Casino owners would seem to be the ones most opposed to the idea. Some states have already legalized the practice.

What should be known to place bets? 

First, it should be known that sports bets can be legally placed online now. Online sports betting is legal when the website is in another country. There are many sports betting sites where Americans can place bets. For this one would need a credit card that accepts foreign transactions. 

Some of the most popular online betting sites are Bovada, William Hill, Intertops, and Bet365. All of these take bets on all the most popular sports such as football, soccer, baseball, hockey, basketball, as well as auto racing, golf, and others. Fans can log in anytime and get the latest lines. 

Legalizing the practice will make it easier to place bets. If it becomes legal, some people will be sure to put up stores where customers can walk in and place a bet, much like going to the store and buying a lottery ticket.

Then there will also be cell phone apps where bettors can go and place a bet with his/her smartphone. Imagine being able to wait right up until kickoff, then pulling out a smartphone and placing a bet.  For prop bets it will be even better. They can be placed on what the next play call will be and the results of the play.

For this to be legal though, there will need to be a repeal of the Wire Act of 1961, which made betting over phone illegal. This was to protect the interests of the Las Vegas sports betting operators. But Vegas will surely figure out a way to get in on the action should the law be changed. However, in the meantime one would still have to take a trip to Las Vegas if you want to place a bet with them if they do not live in a state that has legalized it. 

The Prospect of Legalized Sports Betting Across America

Once it does become legal in every state, expect a booming business to take place. There will be many opportunities to get in on the action. There will be government job openings to enforce regulations and tax collections, retail job openings, tech job openings (designing phone apps, computer sites, etc.). 

It will start slowly. Think about when the lottery first became legal. Look at the lottery now. There are more games now than people have time to play. One day legalized online sports betting will be that way across America. Much like Daily Fantasy Sports is now, there will be everything from head to head games to games with large groups of people with a big payout to the winner.

Sports betting may actually replace the lottery for those looking for that huge jackpot. Think about what might have been had sports betting been easy a couple of years ago. Someone could have placed a $10.00 bet on Leicester City to win the Premier League before the season began just for laughs. Had that happened, that person would likely be retiring today. 

The odds on Leicester City at the start of the season were 5000-1. A $10 bet would have cashed out at $50,000. These opportunities do not come around often, but the odds of winning it big on the lottery are much worse. 

Outlook For Sports Betting

One thing that will be interesting though is how easy betting on smartphones will affect the odds. Point Spreads move up and down based on the betting on each team. This could effect lines by making them more volatile, ir it could have the opposite effect and be more accurate. Someone will create an app that will send alerts to the phone every time the spread changes on the games the user is interested in placing a bet. 

While sports betting is legal in some states, it is only a matter of time before it becomes legal in every state.

Main Photo: Embed from Getty Images


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