- The NFL is one of the biggest sports to wager on at any sportsbook.
- With the legalization of sports betting, more people have become fans of professional football and betting on their games.
- Sportsbooks and the league are not the only ones to benefit as broadcasting companies of the matches have also seen positive outcomes.
NEW YORK – Legal sports betting has influenced the NFL’s viewership numbers according to New York Giants co-owner Jonathan Tisch. Since the legalization of sports betting, TV networks that broadcast NFL games have seen a 5% boost in ratings since last season.
Thirteen states in total have some form of legalized sports betting while six others are on the cusp of launching such platforms. Tisch attributes the spike in viewership to the number of states that have made the hobby legal.
“Obviously, if you’re betting on a certain game, you’re going to watch to see what happens and you’re going to watch until the bitter end because there are many games that are won on a field goal with three seconds left,” said Tisch.
Television ratings have not been the only thing to see a rise. Internet streaming services have also gone up 49% compared to last year’s numbers. The federal ban known as PASPA was repealed in 2018, making it more than coincidental that 2019 has shown a jump in NFL interests now that legal betting on the sport is involved.
Further Influence Of Legal Sports Betting In The Future
As more and more states continue to get on board with making the wagering on sporting events a legal reality, the impact it will have on sports nationwide will be huge.
Other professional sports have embraced wagering in their stadiums and Tisch believes the NFL will see that kind of development in the future. The Giants themselves play in New Jersey where sports betting is legal. Being able to place wagers on the game at their stadium is not such a farfetched idea.
“I’m sure the NFL is in constant conversation about how all this is going to unfold,” said Tisch about stadium wagering.
Of course, there are other factors that will need to be taken into account by the NFL. Currently, the league runs under a revenue-sharing format between all 32 teams.
If venues in states with legal sports betting begin to allow fans to place bets at the game, the NFL would need to come to an agreement as to how revenue distribution would go among the entire league.
While sports teams could see continued benefits from legal sports betting and television ratings could remain on the upswing it will also cost the companies providing the broadcasts. If the popularity of the games is any factor, networks may need to shell out more money to the NFL in order to air the games. It would be similar to a ‘supply and demand’ scenario.
“The NFL’s partners use the rights as leverage in negotiations with pay TV providers to obtain higher distribution fees, and in the case of broadcasters, higher reverse compensation from affiliates,” wrote Alexia Quadrani, an analyst at J.P. Morgan.
The takeaway from all of this is that legalizing the wagering of sports has had a widespread effect on all of those involved. As the popularity and process of making it legal in more places continues, the rise of its potential to be a very lucrative market will remain.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.