EVEN as Americans have seen their legal betting options increase seven-fold in the last 12 months, old punting options may die hard when it comes to the Super Bowl on Sunday night.
According to a survey from USA TODAY, 95 per cent of all bets placed on Super Bowl LIII will be placed illegally, with black market and offshore bookmakers.
Yesterday the American Gaming Association estimated that there would be $6 billion in total bets. If the USA TODAY figures are to be taken seriously, it means that only $300 million of that figure will be made at legal, regulated venues.
The president and CEO of AGA, Bill Miller, told USA TODAY that the bookmaker industry will lose some of its customer base as punters continue to follow old habits.
“As the general public becomes more aware of the opportunity to do it in a regulated and safe manner, it will move that way,” Miller said.
Seven states within the USA have legalised sports betting since the country’s supreme court overturned the PASPA act, which made gambling illegal across the country, with very rare exemptions.
Within this story lies the real penalty of a prohibition on gambling across the country. Millions of citizens have always wanted to express their free will and place a few hard-earned dollars on wagering, but have been unable to do so legally.
This kind of prohibition has opened the door for the black market, illegal bookies and offshore companies to take money out of the US economy. Meanwhile, there will be almost 25 million Americans that will go without adequate protections, putting themselves at risk to scamming, theft and fraud.
People are going to gamble. Legal framework in a well-regulated market is the best way to ensure those profits are taxed properly and work for them as a society.
Make sure that before you do bet on Super Bowl LIII, you take a look at our bevy of betting tips and analysis:
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- Super Bowl LIII exotic bets – will they kneel?
- Super Bowl MVP betting options
- Ultimate Super Bowl betting guide
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