However, it does go a long way toward proving my point. I applaud the most recent comments of Adam Silver, the commissioner of the NBA and the legislative efforts of Chris Christie of New Jersey.
Perhaps the most troubling part is the negative spin often associated with sports betting. They both require the responsible management of risk capital and making the best possible investment decisions after a thorough analysis of the information. This magical interaction now intensifies, bringing a deeper quality to the game. The NFL needs the gamblers just as much as the gamblers need the NFL. Everything suddenly matters more, every call and every play. All of us have felt the adrenaline surge for a must-have fourth down conversion or seen the handy camera work pan to a fan, whose eyes are closed, and is in solemn prayer. The days of offering game odds driven by rumor and “on the ground” contacts are over. I would also venture to say that more than fifty percent of those UK fans have laid a bet with one of the publicly traded companies licensed to accept wagers. She told him they had won, and he erupted with absolute glee. If morality is truly the reason, can you imagine a scenario where the NFL questions fans before allowing entrance to the stadium, and then denies entrance to the gambler and issues a refund? No chance of that. They are riding a roller coaster during a speculative course of events, and it’s those crucial actions on the field that manifest themselves on both the physical (a racing heart) and spiritual (praying to the Football Gods) plane. I continue to draw comparisons to any financial market that entertains a speculative investment. I’m going to use the NFL as my example because of its universal appeal and because football betting drives the largest number of bets here in America. With such a big secret one would think the message would be broadcasted across the wire, but instead sports betting continues to channel in a gigantic whisper.
Consider that the base, and now let’s spike that unquantifiable interest with a financial stake in the game. Do I think Ben loves sports? Without question. At seven years old, and to his frustration, his bedtime curfew cannot embrace the whole game. She asked him, “Ben, why are you so happy about that?” and he replied with a smile, “My friend owes me a dollar today.” Obviously, I do not condone elementary betting, but I’ll chalk this up to kids having fun. It’s directly related to the profitability of every professional league, but to acknowledge its importance and interdependence would grate against history. The NFL has never been more successful than it is today. The days of back-room alleys and street bookies are largely over, as even they have moved to the Internet, though they are still breaking federal law. Right now, the offshore bookmakers and the underground world are hoping things continue unchanged while they happily siphon millions of dollars each year catering to the voracious betting appetites of the American public.
I must assume the NFL throws the public red flag on grounds of morality, though it’s completely disingenuous. Sports betting is the most taboo yet pervasive activity among sports fans and grows in popularity exponentially. It would be foolish to think otherwise. In today’s fantasy crazed-society, the stats and information available are at worst equal to, but in my opinion better than, information one could obtain before purchasing stock of a company. The games are now broadcasted up to three times a week, and the viewership of these games allows the league to command enormous sums of money for the privilege of advertising to its fan base. Sports betting is the secret love that everyone in the room is sharing, and it has never been bigger in the United States than it is today. Fans are “active viewers” and are engaged on a second-to-second level.
Blayne Davis, Author of Wild Game, an international legal thriller about a sports betting hedge fund.
This Blogger’s Books and Other Items from…
For millions of Americans, the mere mention of football season triggers sweaty palms and stomach churning. She told me the first thing Ben wanted to know when he woke up was if the Cowboys beat the Bears. Those responsible for setting the Vegas line are surrounded by banks of computers running calculations and formulas as complex as those used by hedge funds on Wall Street.
Fortuitously, when I started to the write this article, my wife relayed to me a funny story about our son. Simply put, the advertising pays the multi-million dollar player contracts and justifies the billion-dollar stadium. They openly recognize the existence and the economics behind creating a regulatory framework. Delving into the hot demand for the NFL product, we must move into some basic psychology behind watching a game versus watching a sitcom. All of these factors create the level of drama and excitement that we all secretly desire in our lives. Yelling at the big screen at a dropped pass (that we could’ve caught, right?) or a questionable penalty, (the conspiratorial referee, right?). Do I think he will ever place action again in his lifetime? I’m betting that he will.
. There has always been, and there will continue to be, an intrinsic relationship between sports and betting. Eyeballs drive this marketing monster — the larger the viewership, the more money media outlets can demand from their advertising partners.
The undeniable truth remains that regardless of the public message put out by the league, if miraculously all betting stopped there would be a dramatic decline in revenue and the financial repercussions would rock the league. It’s awesome.
Let me explain the correlation of sports and gambling from a superficial economic standpoint. We want this action; we need it.
But let’s go back to those initial viewership numbers and exactly why they are so great in the first place. As the NFL continues its Read more