For many years, the major US sports leagues existed in a world where legalised betting was not possible in the country.
Now we are seeing things change, with US states beginning to approve sports betting one by one. It is expected that by the end of 2020 or beginning of 2021, over half of the US states will allow those inside to place a sporting wager.
But how will that affect the pro sports leagues? And what does this mean for fantasy games, something that has become a tradition for many who watch sports.
The sporting world is beginning to change, and it is all being caused by the betting industry.
How Big Will the US Betting Industry Become?
The best guess right now is that the US betting industry will become huge. There has been a thirst for betting over the past decade and now finally people are getting what they want.
To get a feel for how big things could grow, you only have to look at UK bookmakers such as those listed on Odds Manager and see how much focus, attention and money they are putting on the US market.
These are some of the biggest names in the world, and they are all wanting a piece of the US market.
The good news for people in the US is that these are some very experienced companies. They have been providing sports betting for many years to customers all over the world, so they know what is needed to give a good service.
This should mean that the US betting industry gets an advantage right from the start, because there is a lot of experience despite the market being brand new.
Will Bookmakers Pump Money into US Sports?
If you look at an established market such as the UK, bookmakers put a lot of money into big sporting events.
This comes in two main forms, either sponsorship or on advertisements ahead of games on TV. Both ways pump money into sports that are being shown, and we could see that happen in the USA over the coming years.
Positions such as official betting partner, TV advertising partner and any sponsorship deals that can be struck with individual teams will all be much sought after in leagues such as the NFL, NBA and NHL.
We are likely to see a big rush to get these signed up, with bookmakers having to pay more because of the competition on offer. As new states sign up and approve sports betting for their residents, look out for deals being made, either in terms of partnerships or general sponsorship.
Will Betting Overtake Fantasy Sports?
For decades, fantasy sports have played a huge part in people’s lives. From season-long leagues with work colleagues and family to daily fantasy sports games on events such as NFL Sunday, there is a large fantasy service.
This involves backing individual players for success, such as the newly announced New England quarterback Cam Newton.
However, the reason fantasy sports have thrived so much is because they had no competition, now they do.
The freedom of placing a wager and being able to bet on anything you want, put together any teams you want and potentially win a lot of money will no doubt be a big draw.
It seems highly unlikely that fantasy sports will go away, and if there is one specific area of fantasy sports that looks set to suffer then it is likely to be the daily games.
Rather than entering a team here, people can instead place a bet on a variety of teams to win their game. This is where betting is going to cut into fantasy gaming, and eventually that will help the betting industry overtake fantasy sports.