Casinos in Detroit Hopeful About High Profit-Potential in Sports Betting
In what may come as a surprise to everyone, Detroit’s casinos are seeing a high potential in sports Betting over anything else. The sight of people sitting in a casino watching matches on giant screens will no more seem like something new. Needless to say, this has led to a larger market for sports betting among gamblers as a very sportive, chilled-out, and entertaining option to gambling. Seeing the high potential that exists for sports betting, Detroit’s casinos are all set to capitalize on sports betting by providing more opportunities and facilities for sports betting to happen.
Currently, the US has strict rules about sports betting when compared to sports betting in Europe. While European countries such as the UK openly allow sports betting, the Supreme Court has chimed in with a nation-wide ban. However, Detroit casinos are hopeful that there would be an upturn on the ban. Adding to this positive outlook on the upturning of the ban is the seeming support that many justices showed towards sports betting during a recent hearing in the Supreme Court on the matter.
Reports point that almost 15 million Americans are engaged in sports betting, although illegally. Casinos now feel that even under a ban, if there is such a lot of demand for sports betting, there is no saying how much this area can grow if the Supreme Court finally makes it legal. The Supreme Court is expected to make a final decision on the matter coming June.
The reason for Gambling industry parties to believe that the Supreme Court will accept sports betting is because gambling itself has come a long way from being completely banned about 20 years ago to being an accepted sport across the US today. As such, they believe that the ban is in place only because the trend is relatively new and there is not enough understanding of the concept. However, today, the nation has reached a point from where it is possible to make sports betting legal.
CEO of JACK Entertainment, Matt Cullen, said that “Under the right and thoughtful regulatory framework, we generally support legalization of sports betting”. In addition, gaming experts have always pointed out that the new customers that legalized sports betting will create can lead to increased revenues for the states.
The only issue that is left to be examined is the fact that many sports betting agencies in Detroit are tied to sports teams – which raises a question about the authenticity of the outcome of the matches.