The NFL thrives to make the most of the game by proposing the launch of in-stadium wagering facilities that would be available on game days to sports betting enthusiasts. As The Athletic reports, the NFL owners voted Monday to allow the proposed brick-and-mortar sportsbooks to start with the 2023 season.
Physical Sportsbook Proposal:
Having recognized that online sports wagering apps may have a connection or other issues or not always be fully up-to-date with the real-time game situations where the odds may change with the speed of light, the proposal for physical sportsbooks would locate these inside stadiums to eliminate any issues that gamblers may encounter while trying to place bets from their phones. Therefore the league owners met in Scottsdale, Arizona to vote on the physical sportsbooks that are currently available only in The Washington Commanders’ stadium.
Available in the Regulated States:
Still, the Arizona Cardinals offer a wagering facility in the stadium proximity, as well as New York Jets and New York Giants who share the MetLife Stadium. In-stadium betting on game days is already available in the states with legalized gambling. There are 33 such states and Washington, D.C., with 17 NFL franchises residing in such states. But, for example, Texas, Florida, and California have eight NFL franchises but are not regulated states, which may be seen as a prospective disadvantage in light of equity concerns.
Sharing Fund:
The proposal to allow physical sportsbooks noted all these factors and included a possibility to share the revenue exceeding the given threshold, such as the reported example of $20 million. This money would be included in the fund containing the threshold-exceeding revenue of the other 31 clubs and shared among the clubs. But this change is believed to affect the teams in states with legalized sports betting as teams have never shared any type of revenue other than gate revenue.
NFL considers that placing bets on both home and guest teams implies that the revenue should be shared, while the revenue from wagering sponsorships would not be shared.
Embracing Legal Wagering:
The vote of the NFL owners represents a league’s move towards embracing legal sports betting. In past, the league was heavily opposed to gambling and even disqualified athletes who attended any kind of fantasy sports events or casinos. After the Supreme Court suspended the ban on sports wagering across the USA in 2018, the franchise has entered partnerships with gambling companies. It now even stages NFL events in Las Vegas, which will be the venue of the next year’s Super Bowl.