Evolution and Legalization of Sports Betting in the USA
About 6,000 years ago, the Indus civilization was developing in India. The Egyptians began to bet on sports at the same time that people were constructing permanent houses and sewage systems. Betting on sports was common when the ancient Olympics started 2,800 years ago. In 1664, 360 years ago, the Parliament of England passed a law on betting. Despite hundreds of laws being passed in many countries around the world since then, sports betting continues unabated.
Now the game of cricket is trying to gain a foothold in the world’s biggest superpower America as well. America will host the 9th T20 World Cup starting on June 2. In such a situation, it would be interesting to know what is the status of betting there. Is it legal in America? How different is the American betting ecosystem from India? Know the answers to all the questions ahead.
Explosive Growth of the Betting Market
Unlike many countries, sports betting in America was unregulated for many years. In 1992, federal law banned sports betting in all US states. However, in 2018, the Supreme Court lifted this ban. It was argued that if this game of money is going on despite the ban, then why should it not be approved? Currently, sports betting is legal in 38 out of 50 US states.
Sports betting spread like wildfire in the US after the approval of the Supreme Court in 2018. According to the American Gaming Association, in 2023, the people of America will spend $ 119.84 billion i.e. about Rs 10 lakh crore on sports betting. This amount is 27.5% more than in 2022.
Due to the increasing interest of people in betting, the income of American betting companies is also increasing year by year. In 2023, American betting companies earned a revenue of $ 10.92 billion i.e. about Rs 90 thousand crore.
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Mechanics of Sports Betting
Let us understand with the example of a cricket match. Suppose a match is going on between India and Pakistan. The betting rate for India’s victory is +7000 rupees and for Pakistan’s victory is +3000 rupees. So if you bet Rs 1000 on India’s victory and the team wins, you will get Rs 7000. Similarly, if you bet Rs 1000 on Pakistan’s victory and the team wins, you will get Rs 3000. Overall, betting your money on the win or loss of a sports team is taking a risk. Because if you bet 1000 thousand rupees on India and Pakistan wins, you will not get a single penny. The same will happen if Pakistan loses.
Betting is not only done on the results of the teams before the match but also on the overall performance of the players or the performance of an over during the match. That is, betting is also done on how many runs a player will score or how many wickets he will take in the match.
Comparison of Betting Practices in India and the USA:
Offline betting is completely banned in India, but online betting is not yet regulated. For this reason, many foreign companies take advantage of the lack of law and provide sports betting options for Indians on the Internet.
Betting on sports on the Internet in India and the US is the same. However, no company is allowed to start betting in India. In the US, betting is legal both online and offline in most states. No, fantasy sports do not come under the purview of betting. On this matter, in 2020, the Rajasthan High Court ruled that fantasy apps are a game of skill and decision of the user. In this, money is invested keeping in mind the statistics of the players and the condition of the field. Therefore, it cannot be calculated in betting.
After the decision of the High Court, the business of fantasy gaming grew rapidly in India. Due to this, many apps like Dream-11, My-11 Circle, MyTeam-11, MPL, and Betting have come into the sports fantasy market. All the apps are also growing rapidly.
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Fantasy Sports vs. Betting:
Fantasy sports are considered games of skill rather than chance. Participants create virtual teams composed of real players from various sports. The success of these virtual teams depends on the actual performance of the players in real-world games. Users need to analyze player statistics, game conditions, and other factors to make informed decisions when forming their teams.
Betting, on the other hand, involves wagering money on the outcome of a sporting event or specific aspects of the event, such as the final score, individual player performance, or other variables. Unlike fantasy sports, betting relies heavily on chance, although bettors may use statistical analysis and other information to make more educated guesses.
Understanding Betting and Fixing
Betting and fixing are different concepts. Betting involves placing money on the outcome of a game or a specific player’s performance without knowing the result. Fixing, however, involves manipulating the outcome of a game for monetary gain. This illegal activity tarnishes the integrity of sports. Notable instances include the bans on Ajit Chandila and Ankit Chavan from IPL and Mohammad Aamir and Salman Butt from Pakistan for their involvement in fixing.
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