New Revenue Channel Changes NFL Attitudes
January 2024 sees the beginning of the NFL play-offs and of course we’re all greatly looking forward to them. It’s not just the clubs and fans who are getting excited. The US and Canadian gambling industries are anticipating a big boost in revenue.
That’s not just good news for companies such as DraftKings, BetMGM and Caesars Entertainment. Those US states and the Canadian province of Ontario (who allowed private gambling operators in 2022) will see increased amounts of gambling tax revenue being received.
Over 30 US states have made gambling on sport legal since 2018. That’s when a US Supreme Court Judge ruled that individual states, not the Federal Government could decide if gambling should be legalized.
States such as New Jersey had long campaigned for such a ruling but had faced plenty of opposition. Some of that came from sports including the NFL. Their fear was that allowing betting on their matches would put the integrity of their sport at risk.
With a growing number of US states making sports betting legal, how did the NFL react? They didn’t react in horror at the fact the gambling industry was growing rapidly. Just like the US states they quickly saw the lucrative financial aspects of the situation. If you are looking to bet on the NFL you can find American Football betting odds here.
It wasn’t long before NFL teams started going into partnership with gambling companies. With the COVID-19 pandemic hitting finances, signing such deals pumped in much-needed revenue.
The NFL and College football have become sports that gamblers just love to bet on. It’s noticeable that the amounts of gambling revenue that can be earned are at their peak when the Super Bowl takes place.. When the season ends, revenue figures do fall but there’s little cause for concern just a countdown to the start of the new season.
It’s all very different from the days when a Super Bowl advertisement promoting Las Vegas was banned because it mentioned their many casinos.
The importance of the NFL to gambling revenue is often seen when a state passes the legislation that makes gambling on sport legal. Ensuring a launch takes place in time for the new season or the play-offs and Super Bowl is so important. That’s why Kansas acted so quickly to get their launch date ready.
The NFL may have embraced sports betting but there are still some concerns. Gambling advertisements can’t be allowed to get out of hand for fear of them attracting new gamblers who could later develop behavioral problems.
Now we’re just weeks away from the Super Bowl being held in Las Vegas and it’s going to create bumper gambling revenues and few will bat an eyelid at that being the case.
