Gambling is a form of entertainment. I mean, have you ever played those shiny new slot machines before? They are extremely addicting and a cause for a good time. Gambling is a legitimate source of recreation that is completely for adults. Well, I guess the legitimate aspect could be argued. However, I have a question to those who are feeling argumentative... why is sport gambling so successful?
Seriously, look at all of that FUN.
Engaging in this playful
form of entertainment benefits not only the individual but the economy as well.
The New Yorker recently reported that The
National Gambling Impact Study Commission estimates over $300 billion are
gambled on sporting events annually. Now just imagine if gambling was properly
regulated and legalized in all 50 states… the potential revenue generation
would be enormous. In a sinking economy any avenue in which to generate revenue
has to be considered, right? There are 1.6 billion people who participate in
gambling per year.
One thing we can count on
is that everyone seems to have an opinion about whether or not sport gambling
should be legislated. Just think about the last time you were caught an
in-depth conversation about how the sporting world changed. This conversation
has the potential to go on forever as the sporting world is ever changing. It
is evolving on a daily basis as society and culture continues to shape
everything that is happening in the United States. These conversations occur
between friends, family, coworkers, colleagues, and in classrooms. The one
aspect of these conversations is that they tend to skew in a negative direction
towards sports. Sports have a tendency to be remembered better “back in the
day” than they are now. An argument can be made that players have lost sight of
love for the game and that they are all about the money. I am sure you may have
heard this before.
Even the shorts are different... Thank God.
What I am going to say next
should come as no surprise to you but when we converse and debate about sport,
analyze who was the best, and who would win in today’s game there is one thing
that remains true… no one has the answer to these questions! People can, and
do, complain about this topic for hours, but have no solution as to how the
world of sport needs to change.
I bring up the great sport
debate because it shows how we often argue about these sport topics that are
irrelevant outside of that individual discussion. We devote countless hours on
these hypotheticals. However, conversations on sport gambling are relevant. In
a time when so many people seem to be against sport gambling, a great many people
partake in the activity... again, nothing changes. Why not legalize it? An argument
for the legalization of sport gambling is that it popularizes sport, stimulates
growth of the economy, and that the financial benefits outweigh the (potential)
social cost.
The biggest game of the
year is creeping upon us and you better believe that Las Vegas is busy, busy,
busy. 2014 was a record-breaking year for gambling on the Super Bowl. Over
$119.4 million was wagered with a $19.7 million profit (way to go, Seattle)! Some
believe that the brilliant season that Peyton Manning was having helped spur on
those bets, but something is telling me that he may not be the factor this time
around. Last season saw a game between New England and those same Seattle
Seahawks come down to the last second with the Vegas line hanging in the
balance.
Congratulations to those who bet on Seattle.
Gambling may also have a positive
impact in keeping certain sports alive. How many of us watch horse races? I do
not just mean the Kentucky Derby. Gambling helped make horse racing one of the
most popular sports in the mid-20th century. With large taxes being placed upon
these bets being made, it represented a significant amount of income for the
state, and also boosted the popularity of the sport. Horse racing actually
brings in about $3.25 billion per year.
Another sport that has
suffered greatly from a decline in popularity is boxing. Yes, the sport that
boasts Floyd "Money" Mayweather is not as popular today as it was
even ten years ago. I think you may be able to guess why. Think back to that
fight between Mayweather and Pacquaio... I know it was not everything everyone
thought it was going to be. Obviously no one was expecting that boring of a
fight yet the fight still generated millions of dollars in wagers. Although it
has been replaced by MMA in terms of popularity, boxing was once the pinnacle
of sport entertainment in the United States and gambling was a large reason why.
"Hugging" because... They just made millions of
dollars.
Here is another reason why
gambling should be legalized… more betting means more casinos and more casinos
means more jobs. In 2012, the U.S. commercial casinos employed 332,075 people
and paid wages of $13.2 billion. This is a hot button issue during this
presidential election season. Creating more jobs is something we want in the
U.S., correct? The job creation established from legalized gambling would
provide employment to many.
Honestly, sport gambling is
comparable to prohibition. It is so universal and it is nearly impossible to
police. It is something that will happen regardless of whether it is considered
illegal and generates money for the economy. Adam Silver, the Commissioner of the
NBA, is quite the advocate for gambling. He has stated that it is good for business
and he would not shy away from it. Silver knows that a sport betting is going
to happen regardless of what the league does, so it only makes sense to
legalize it and be able to control and monitor it. As a Commissioner, Silver
wants to protect the integrity of the game. Being able to obtain all of the
information, monitoring it all becomes the key to success.
Anyone down for a trip to Vegas tomorrow?
Even though there are four
states with legalized sport gambling, only 1% of sports betting is legal. This
means that the other 99% of the total profit is done illegally and not being
taxed or monitored.
Some argue that placing
bets on sports will tarnish the integrity of the game. I cannot argue
definitively whether it would or would not. We are spectators of sport and Adam
Silver is the Commissioner of the National Basketball Association. He obtains
all in-depth knowledge and wants to be able to protect the integrity of the
game. The sports that we consume on a daily basis are social constructions that
are extremely beneficial.
Seriously. Just look at how
much we, as a society, depend on sport. I do not know about you, but there are
days where sports are considered therapy. Plain and simple, sport provides
people a form of escapism. If we need someone to police integrity… well,
let’s leave that to commissioners like Adam Silver.
Adam Silver, Commission of the NBA
As long as the professional
athletes, managers, owners, and organizational personnel do not partake in the
gambling activities, the world of sport will be protected. Professional
athletes are likely unaware of the bets that we may place each week… except if you are Floyd Mayweather. That dude is known to make bets on anything. Athletes
have their job to do, likely love their job, have a passion for sport, and pay
no mind to the betting lines and wagers.
The world of sports is not
perfect, but no one is quick to jump the gun and figure out ways to
"fix" it because it is fine just the way it is. After all, people
around the world are tuning in each and every week/weekend to many of these
games. What harm could gambling REALLY do? I believe that Cam and Peyton will be running out onto Levi's Stadium
on Sunday playing their hearts out regardless of the point spread and the money
that has been gambled.
... Now that is something I
would be willing to bet on!
Enjoy the game, folks.
American Gaming Association. (2013). Sports wagering. Retrieved
from http://www.americangaming.org/industry-resources/research/fact-sheets/sports-wagering
American Gaming Association. (2013). State of the states: The AGA
survey of casino entertainment. Retrieved from
http://www.americangaming.org/sites/default/files/uploads/docs/aga_sos2013_fnl.pdf
Borghesi, R. (2008).
Widespread corruption in sports gambling: Fact or fiction?. Southern
Economic Journal, 74(4), 1063-1069
Claussen, C. L., & Miller, L. K.
(2001). The gambling industry and
sports gambling: A stake in the game?. Journal Of Sport Management, 15(4),
350.
Clotfelter, C. & Cook, P. (1989). Selling hope: state
lotteries in America. Cambridge, MA: Harvard University Press.
Mahan III, J.E., Drayer, J., & Sparvero, E. (2012, September).
Gambling and Fantasy: An examination of the influence of money on fan attitudes
and behaviors. Sport Marketing Quarterly, 21(3), 159-169.
Racing in the depression. PBS. http://www.pbs.org/wgbh/americanexperience/features/general-article/seabiscuit-racing-depression/
Surowiecki, J. (2013). A call to action. The New
Yorker. Retrieved from http://www.newyorker.com/talk/financial/2013/02/11/130211ta_talk_surowiecki
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