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Supreme Court Ruling on Sports Betting
The Supreme Court officially ruled to reverse the ban on sports betting in the United States, effectively allowing for individual states to create their own laws or alternatively a pathway to federal regulation across the entire country. This ruling could provide a financial opportunity to several key parties that are involved with this issue. The sports leagues themselves could find themselves charging fees to sports betting websites in order to ‘protect’ the integrity of their competitive sports product in nationwide markets. This could potentially allow for sports team owners, sports leagues, and even individual players on sports teams to collect a percentage of these fees, should they ever be put in place.
Daily Fantasy Sports Websites Could Win BIG!
There are even more financial opportunities for the daily fantasy sports websites that wish to adopt the chance to provide a sports book in an American jurisdiction. Sites like DraftKings and FanDuel would reap massive financial gains if they managed to control a majority of this market. These websites would be the ‘big winners’ if nationwide, or even state-by-state regulation took place across the country.
States Could Boost Tax Revenue
It is no secret that most Americans that want to place bets on various sports elect to do so on various off-shore websites that provide no regulation and could be considered sketchy in many cases. The states that choose to officially regulate this potential market could find themselves in a gold mine, potentially boosting their tax revenue from legal sports betting markets within their jurisdiction.
The Supreme Court ruling provides the opportunity for several different parties to take advantage of the future of this market. Sports betting will inevitably be regulated in several states, if not federally, however the states that jump on this market in the early stages will likely find larger financial gains before the advantage fades away as more states embrace the sports betting industry.