Israeli Sports Betting

  • People working in all aspects of the Israeli sports business are requesting a few things from the government: funding for the teams and expanded sportsbook options.
  • They promise this will bring only good things in terms of revenue profits for Israel in the long run.
  • The odds the government moves forward with the requests is unknown but many are showing their support.

JERUSALEM, Israel – Top people in the Israeli sports world met with the Knesset Education, Culture and Sport Committee requesting funding for everyone involved in the business of sports.

The Coronavirus Pandemic has hit the clubs, leagues, and personnel involved in sporting events hard due to the halt of seasons to contain the outbreak. Among the people asking for compensation for the leagues and clubs was Beitar Jerusalem Football Club owner, Moshe Hogeg.

“If the relaxations are allowed, then revenue in all branches of sport will grow substantially, and the league will be financially viable,” said Hogeg.

What Are They Asking?

Not only are those involved in sports asking for money for their teams to stay afloat until games are allowed to resume normally, but they are also seeking an expansion to the legal sports betting sector in Israel.

The timing for these requests is well calculated, as a huge opposer to sports betting and gambling, in general, was the former Minister of Finance, Moshe Kahlon.

Seeing as he no longer holds this position, this deal is more likely to be considered.

Under Kahlon, horse races and slot machines were outlawed despite bringing in millions in revenue to the country.

There is a demand in Israel to have expanded sports betting options which would need to be done by Toto (The Israeli Sports Betting Board).

This will be placed in the Economics Arrangements Bill that will be heard during budget discussions. Allowing for mobile sports betting platforms and other betting types will give bettors in Israel what they’re looking for while adding extra revenue in a post-COVID-19 era.

Over $3.2 billion has been made by outlets for and gambling in Israel.

Those in sports want to introduce real-time gambling on sporting events. Currently, wagers are closed minutes prior to the start of a match.

An estimated 30% of bets from companies around the world are live-in game bets which is the argument of those pushing for the offering at Israeli sportsbooks.

“As far as betting during a game is concerned, this is a subject that has been raised by the Sports Betting Board and by the sport administrations, with the intention of providing financial assistance to the relevant branches of sport,” read a statement by the Ministry of Finance.

Ultimately, Israel Katz, the new Minister of Finance, and Hili Tropper, the Minister of Culture and Sport, will have the final decision on funding the clubs and teams to get them over the hurdle of COVID-19 and whether or not to expand Israel’s sports betting industry.

On one hand, they could be in favor of the added revenue for a country in need of it after a pandemic or they could go with what they think is best for the people and not allow it because the unemployment rate has increased with the pandemic.

Allowing further ways to gamble may encourage the unemployed to wager what little money they have, causing an even bigger financial crisis for the people of Israel.

However, those involved in the country’s sports businesses assure the Treasury that should both of their requests be approved, Israel will see tremendous positives along with dividends if they simply took the gamble on this issue.

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