Major League Baseball might not be too excited by the Supreme Court ruling earlier this year that overturned a nation-wide ban on sports gambling.
But as states take it upon themselves to open up sportsbooks in the wake of said ruling, America’s pastime could soon see an economic boon it has not witnessed in decades.
This study by Nielsen Sports, commissioned by the American Gaming Association, suggests that MLB could see a $1.1 billion annual increase in revenue due to legalized sports gambling. The NBA follows suit at $585 million.
Annual revenues for MLB & NBA may increase by $1.1 billion & $585 million, respectively, from widely available, legal, regulated sports betting, per a new Nielsen Sports study commissioned by @AmerGamingAssn. pic.twitter.com/pujNyXgaPj
— Darren Heitner (@DarrenHeitner) October 18, 2018
This is no small number. MLB’s annual revenue topped $10 billion for the first time in 2017. If the study is correct, we’re looking at a 10-plus percent increase on an annual basis.
North America’s top four sports leagues know full well just how much of an impact the SCOTUS ruling will have on their bottom line. Despite this, only the NBA has seemingly shown itself to be in support of the ruling.
Obviously, there are issues here. Opening up sports betting around the United States could create a major conflict of interest. Policing said industry is going to be huge for the viability of professional sports on said market moving forward.
Even then, a projected $1.1 billion annual increase in revenue is nothing to smirk at. And in reality, the powers to be within MLB have to be grinning ear to ear following the release of this study.