Sports betting is a controversial topic. Furthermore, the morality discussion related to sports betting is multi-faceted. It can be seen as a hot button issue because of addiction issues causing financial harm to people who bet out of their means and the concerns of cheating games to win bets.

I’m here to quell those worries and put forth my opinion on betting.

First, it’s not going anywhere. Sports betting is as popular as ever and advertised nonstop through popular names like DraftKings or BetMGM. I see it as a HUGE opportunity to advance sports through partnerships, attracting new viewership and retaining audience through more involvement in the product.

In-Venue Betting: Current and Future Situation

In-stadium or in-venue betting has a limited history mostly in horse racing. Horse racing venues have experienced a vast head start with betting through cashiers or some venues with machines. I see this as a widely un-tapped opportunity in other sports leagues.

In-venue betting depends heavily on the state and currently around half of US states have legalized betting with California likely next on the list. Pending further state legislation, all major sports leagues should allow teams to partner with companies to establish kiosks, partnership activations or some sort of in-venue betting.

Similar to sports betting sites, these kiosks would allow someone to insert credit card, maybe use crypto payment and select what bets to place across any sport or any bet that is available. If a user hits on their bets, they have already selected what pay out method they prefer and are on their way. Simple!

A second piece to increase audience engagement and attract new sports viewership is real-time betting at the venue on the contest happening at that same venue. Using geofence technology, a fan could make real time bets about the game as long as they have a payment method saved and the thing they bet on hasn’t already had an outcome. This would of course require intensive app development and processing to get bets in as the game was progressing. But what better way to involve fans even more to the contest unfolding?

How does Virtual Sports Betting Evolve in the Next 5-10 Years?

The biggest hurdle to sports betting is state legislation. The dominoes continue to fall so likely in the next five to ten years it will be legal across the United States. After, the competitive marketplace for different sports books will explode and we will see more and more discussion of betting on T.V., sports apps like ESPN and advertising for those sportsbooks. It’s a waiting game at this point but only a matter of time until it’s available everywhere.

What Leagues Will Adopt it Further?

NFL: While not as tech-forward or progressive as the NBA or NHL, the NFL is rapidly moving towards sports betting. The Las Vegas Raiders, in their new home Allegiant stadium, have allowed betting and activations in the stadium with some regulations in place. I expect to see other stadiums in jurisdictions where betting is legal to move in this direction. Finally, advertisements and mentioning of lines, over under, etc. will be more prevalent on television as we’ve seen on Prime Video’s Thursday Night Football.

NBA: The NBA is the country’s most progressive league. Through the direction of Adam Silver, this league has always been forward-thinking and more risk-prone. Over a year ago the Wizards and Suns built sportsbook activations in their arenas and have welcomed betting with open arms.

MLB: The MLB is the one league that creates a tricky situation and may be hesitant to adopt sports betting. Baseball has an extensive history of cheating through signal stealing like the Astros, PEDs in the great 90’s era and involving sports betting with the infamous Pete Rose and the 1919 White Sox. The league continues to deal with this black cloud over the sport but often seems to let the cheating continue for periods of time before acting. The MLB will be the slowest to adopt extensive betting including activations in-venue and further advertising.

NHL: Similar to the NBA, the NHL has shown its commitment to technology and advancing the game faster than other leagues. The NHL uses a “startup culture” to include sports data and AI into the game including partnering with AWS for a more-advanced hockey league. The NHL has been welcoming to sports betting. In their inaugural season in 2017-2018, the Golden Knights were sponsored by William Hill Sportsbook. The in-arena sportsbook in Washington DC was the first of its kind in May 2021 and serves the Capitals and Wizards. The NHL sees its goal as having in-venue sports betting and activations in all arenas.

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