Sports betting has exploded in the United States since the Supreme Court ruled against a law that banned commercial sports gambling throughout the country. Legalized sports betting has been adopted in one form or another by more than 30 states, creating a market that has produced over $52 billion in revenue.
On the latest Real Sports with Bryant Gumbel, reporter Jim Frankel looked at the sports betting phenomenon, reminding viewers that professional sports once distanced itself from gambling. Two of baseball’s biggest scandals, notably the 1919 Chicago White Sox deliberately losing the World Series and Pete Rose being banned from the sport, involved betting.
Yet betting has now become so incorporated with sports that ads for sportsbooks and betting platforms flood advertising during sporting events and at venues. Studio shows discuss betting, often in sponsored segments, during pregame, halftime, and postgame coverage.
Frankel spoke with one professional sports team owner who’s embraced betting fully. Ted Leonsis, owner of the Washington Wizards, Capitals, and Mystics, has opened a Caesars Sportsbook in Capital One Arena. Fans attending games can place bets right there in the building.
Here’s a clip from Frankel’s feature, titled “Legalized Sports Gambling”:
“There was a lot of angst about sports betting. What was the audience going to be doing?” Leonsis told Frankel. “This is the fastest-growing new business in Washington, D.C. and it’s unfolded the way we’re expecting.”
Frankel also includes interviews with fans placing multiple bets and spending hundreds of dollars (if not more), who enjoy the thrill of having an investment in several events. But he also follows a fan whose life was ruined by his betting addiction.
However, Leonsis is among those looking at the bigger picture, who see gambling making sports even more lucrative and more important to fans.
“It’ll make sports programming even more valuable because you’re much more engaged,” said Leonsis. “It used to be, there would be a blowout and everyone would tune out. Now you’re watching until the end of the game to see what your bet will be.”
The latest episode of Real Sports with Bryant Gumbel debuted Jan. 25 and is available across HBO networks. The show can also be seen on-demand and streamed HBO Max.
Ian Casselberry is a sports media columnist for BSM. He has previously written and edited for Awful Announcing, The Comeback, Sports Illustrated, Yahoo Sports, MLive, Bleacher Report, and SB Nation. You can find him on Twitter @iancass or reach him by email at iancass@gmail.com.
