Legalized Sports Betting Could Soon Be Available In Most U.S States

Sports betting is technically illegal in a majority of states in the US, but according to NBA Commissioner Adam Silver, there could be significant changes in a very short period of time. A number of premier leagues in the U.S such as the NBA, NFL, MLB and the NCAA have not been in favor of sports betting considering the effect it might have on the overall game.

legal sports betting in the statesHowever, the sports betting black market in the U.S. is expanding with every passing year and according to recent stats published by the National Gambling Impact Study, the illegal sports betting industry is estimated to be around $380 billion.

Adam Silver believes that if the sports betting industry is legalized in each state and properly regulated then the revenue generated in terms of state taxes would pay huge dividends to the state and help them further develop and improve.

Silver has been with the NBA for over 22 years has been very upfront with his views and future expansion plans for the NBA. Under Silver’s leadership, the NBA has allowed teams to form partnerships with a number of casinos and the legalization of sports betting would allow the NBA to capitalize even more from such collaborations.

Silver believes that the legalization of sports betting will also help increase interest and viewership in sports. In a statement, Silver said “If you have a gentleman's bet or a small wager on any kind of sports contest, it makes you that much more engaged in it. That's where we're going to see it pay dividends. If people are watching a game and clicking to bet on their smartphones, which is what people are doing in the United Kingdom right now, then it's much more likely you're going to stay tuned for a long time.”

We will be keeping an eye on this issue now that New Jersey is legalizing sports betting.