Sports betting have gained popularity – Demystifying some common myths on sports betting
The topic of government legalization of sports betting has always been a topic of debate and the topic has always been brought up before but off late it has gained enough momentum. The New York Times op-ed and the cover story of Silver in ESPN the Magazine’s Gambling Issue and Sen. John McCain recently gave the opinion that Congress needed to hold hearings to discuss matters related legalized sports betting.
The question of authorizing sports betting is a matter of ‘if’ than a ‘when’, there is enough uncertainty regarding what it will be like in the near future. In what way will sports betting be regulated? How much will the government be involved in this? Will it be enforcement on the federal level or on a state level? There are definitely some myths which need to be dispelled. Let’s take a look at the myths that should be demystified on sports betting.
Myth #1: Sports betting creates more risk for match fixing
Fact: This is the biggest myth that needs to be dispelled. People who fail to understand the reason behind games being fixed are the ones who believe that legitimate sports betting will lead to more risk of fixing up matches. Experts say how vital it is for them to track any kind of irregular activity on games and matches. Game fixing would have been easier in an ideal situation where fewer people track or are aware of things like Betfair slots and spreads.
Myth #2: It is going to damage the business of sports betting in Vegas
Fact: As authorize sports betting becomes available locally, people will feel less interested in traveling to Sin City to indulge in sports wagering. This is a reflection of the same concern which people had about 25 years ago when commercial and Indian casinos started spreading throughout the US. Las Vegas is ready to welcome around 40 million visitors and their revenue from gambling has increased. At any rate, legalized sports betting in different states will never have a huge impact on the sports betting business in Las Vegas.
Myth #3: Sports betting will lead to more problematic gamblers
The argument can be understood that legal sport betting could take more and more people towards gambling and the increased access will lead to too many problem gamblers but this is something which is simply not believable. Illegal sports wagering has got few features which can lead to problem gambling, something more than legal betting. The National Council on Problem Gamblers has revealed that problem gamblers are often involved in illegal gambling.
There are indeed a large number of unanswered questions when it comes to sports legalization and gambling in the US. But it is indeed fascinating to see how it unfolds within the next few years. If sports betting is legalized, this will certainly lead to huge changes but there are some assumptions and myths which are simply not believable.