March Madness: Reason Why Sports Betting Legalization Has Big Space In News Websites
Today, every news website and personal blogs that talk about new events has been overcrowded by the ban over sports betting.
This is contrary to the popular and ordinary opinion that politics and local business cover the front page of the news.
Study shows that in spite of the firm stance by the federal law on sports betting, NCAA basketball tournament will still remain what many American talk about in social gatherings.
They are even willing to spend billions of U.S. dollars in placing bets thanks to Pay Per Head software that has taken many by surprise in recent days.
It was in 1992 when PASPA received strength when members agreed in one accord that it would be in violation of federal law to place a bet on college sports event that is professional.
Nevada is the only state in the U.S., where the law does not apply. However, back then, a few other states were granted immunity from the law against college professional wagering like Nevada. Delaware, Oregon, Montana, and The Silver State also enjoyed the immunity. Their freedom, however, was short-lived. For instance, today, in Delaware, you will only be allowed to place your bet on fixed odds. That means there is no absolute freedom as is the case with Nevada.
According to AGA, approximately $10.4 billion is likely to be spent on sports betting on what many Americans call 'March Madness’ that takes place only in the month of March.
However, American Gaming Association concedes that only a meager amount of that money, about $295 million, will be placed on bets through legal online bookie software channels. The remaining chunk will be done so through illegal means.
Now that the news is in the public domain that a huge sum of money might be used in such a way, everywhere in the news, you will find a big space allocated for adverts that speak of 'March Madness’ thus replacing traditional political stories.
Sports Betting Continue To Gain Support
As we speak, millions of American residents have completed or are in the verge of completing their NCAA brackets. Now, than any other time before, millions are placing monetary bets, small or big on various predictions.
With the advent of pay per head sites, which many people can access thanks to the internet, millions of dollars will be placed on various tournaments.
Speaking on the failure of the federal law, Michelle Minton, from the Institute of Competitive Enterprise in Washington said, “The federal ban has failed on its mandate of protecting consumers, the American people. Besides, it has also hindered individual states from enacting legislation that would otherwise protect their people rendering it counterproductive and useless.”
When you look at the effects, it is easy to understand the degree of madness NCAA brings.
This year alone, more than 70 million brackets might be completed. Compared with the results of last year’s political betting, where Donald Trump drummed 62.9 million votes and Hillary’s 65.8 million, NCAA’s 70 million is nothing but pure March Madness.
