When the Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992 in 2018 as unconstitutional, a whole new era of possibilities was opened for sports betting.
Now, operators can offer sports betting opportunities online or in-person through state-level licensing, meaning what was once a niche pastime is becoming more widespread across the United States.
This cultural phenomenon is evolving and growing, as new players come to join their friends and bet on the results of events from the NFL, NHL and NBA, to horse racing, European and English football, and even on election results.
What does this mean for America and American culture? Changing views on what gambling is and what sports betting is in relation to perhaps more conservative mindsets has seen a greater loosening of sports betting legislation – making it easier for supporters to back their teams in the Super Bowl or guess who will go. To win the Premier League this year.
What is sports betting?
Basically, sports betting is betting on the outcome of a sporting event. Some basic sports bets might be about who will win a football match, or which horse will come first in a race. More experienced sports bettors might bet on the point spread in a hockey game, or who will score the first hoop in basketball, for example.
Sports betting depends on a combination of luck and analysis; Figure out the “look” of the team/horse/person you think will come first and use that information to bet (and then hope luck is on your side with the outcome).
Sports betting used to be something that only really happened at sports bars or in sports arenas, but now you can open a sports betting account online and bet on all kinds of different sporting events (and other things too) – all for the experience of making some money and making some profit.
Why is it important?
For some, gambling on the outcome of a sports match is about showing support for your team. It's almost a rite of passage for fans, showing faith through the good old dollar.
Sports betting involves the risks and rewards of supporting a team and bringing people together to root for their team to win – increasing camaraderie among the group. It's a social ritual that can become part of the overall experience of watching the match, in person at the venue, at home on TV, or with your friends in the pub.
Some people view gambling as a vice, while others view it as a normal part of their sport – and this dichotomy is imitated in popular culture. You will see two main types of people who gamble in movies and TV shows; There will be the charismatic con man who wins against all odds, or the morally bankrupt villain who uses gambling as a weapon of control.
What is the impact of sports betting?
Economically, allowing sports betting is a great way for a state to increase its tax income. Some states tax the gains, while others impose a hefty tax burden on internet operators — but either way, it fills state coffers.
Additionally, local sports betting providers provide jobs, which is always a boon for the economy.
Providing a regulated and legal option for sports betting removes the criminal element from gambling – which in turn reduces social, emotional and economic harm. Responsible operators ensure that punters do not spend more than they can afford, and that they can get help if they need it. In a safe place, sports fans can put their money where their mouth is and put hard money on their team moving forward, increasing interest and excitement.
From a team's perspective, sports betting increases fan engagement. More fans will watch the games they are betting on, which means more ad revenue, more money, better TV deals and therefore better performance – so everyone wins when fans are more involved.
Sports betting is a lucrative business, with over a trillion dollars estimated to be wagered annually. With so much money at stake, sports betting must be strictly regulated, making it safe for everyone.
Is it positive?
When sports betting is done in a legal, regulated and safe way – using a licensed provider, and with support for those who might be harmed – it increases the excitement and overall experience.
Fans can come together in a way that goes beyond mere support when they have money riding on the result, and nothing builds camaraderie like a shared passion for a team, especially when they are performing well.
The general feeling, then, is that sports betting has a positive cultural impact.
