You might call it “The best of both worlds”. Thanks to a recent rule change that hugely benefits U.S. sports betting, NFL fans will now be able to bet during the game if their team’s stadium has a sportsbook.
Which Teams Are In?
According to NBC Sports, only four teams are affected by the move (at the moment): the Cardinals at State Farm Stadium, the Commanders at FedEx Field, and the Giants and Jets at MetLife Stadium. The sportsbook at FedEx Field is inside the stadium, while those at State Farm Stadium and MetLife Field are just outside.
It’s a growing trend in sports. Some of the MLB and NBA teams with sportsbooks in their arenas or stadiums include:
- Wrigley Field (Chicago Cubs)
- Rocket Mortgage FieldHouse (Cleveland Cavaliers)
- Audi Field (D.C. United)
- Citi Field (New York Mets)
- Nationals Park (Washington Nationals)
- Footprint Center (Phoenix Suns & Mercury)
- Capital One Arena (Washington Wizards & Capitals)
The decision by NFL owners will increase revenue for teams, but many bettors already use mobile betting apps. However, the vote is extremely significant because of the rapid expansion of legal sports betting and the NFL embracing it wholeheartedly.
CBS Sports report that money made from sports betting at NFL stadiums will be pooled and shared among the teams.
Because bets will theoretically be placed on teams other than the home team – and because there is an equity concern that teams in states that continue to ban sports gambling will be at a disadvantage – revenue from sportsbooks above a certain threshold (believed to be $20 million) will be shared, unlike most non-national revenues that teams have.
17 NFL franchises are among the 33 states currently offering legalized sports betting.
NFL Continues to Embrace Sports Betting
The National Football League was founded in 1920, but for many years it was wary of gambling and did everything it could to distance itself from the practice. However, by the 1960s, the league began to recognize the potential revenue that could be generated by allowing betting on its games, and it began to soften its stance.
In 1974, the NFL allowed teams to sell their radio broadcast rights to sportsbooks, and in 1983, it began allowing Nevada sportsbooks to offer bets on NFL games. Over the years, the league has become more and more comfortable with sports betting, and in 2020, it even entered into partnerships with several sportsbook operators.
Today, sports betting is a huge part of the NFL experience for many fans, with millions of dollars being wagered on every game. Add this latest move by the league, and it’s another symbolic show of support by owners that once shied away from any connection to betting.
Calculators
