There are many benefits to sports betting for both sides of the wagering table. Sports betting is an excellent way to increase the volume of viewership, engagement and advertising revenue. Many leagues have partnered with sportsbooks and gaming entities to increase the exposure of their games. In the NFL, team-sportsbook partnerships are permitted. In June 2020, the Denver Broncos will team up with FanDuel and Betfred to offer sports betting to their fans. Other major sports leagues are also actively looking for deals with sports betting companies to increase their visibility.
While states are largely interested in maximizing their taxable revenue, the integrity of games must be paramount. State-licensed sports betting operations are more secure and accountable than illegal operators. While these laws do not always guarantee complete safety, they are more reliable than unauthorized ones. Legal sports betting through state-licensed operators has a number of advantages, and technology is bringing new levels of security. The stakes are low. A state-licensed operator is the safest way to bet on sports.
Although the legalization of sports betting has not been finalized, it will be available in most states by 2020. The legalization of sports betting in the state has already been approved in Delaware and Nevada. In the state of Minnesota, a legalized sports betting market is expected to generate approximately $72 million in wagering revenue during the first year of operation. In addition to legalizing sports betting in their state, lawmakers have discussed a sports betting deal in their legislature. While the house wants to lower tax rates for operators, the senate is interested in a competitive market and more revenue.