With the NHL officially coming to Las Vegas and other professional sports warming up to Las Vegas, legal sports betting no longer is an obstacle for professional sports.
Legal sports betting never has been a problem for professional sports. Prior point-shaving and officiating scandals always centered on illegal bookmaking operations and not licensed Nevada sports books.
Sports betting also offers a level of transparency that exists nowhere else.
Virtually every event now is televised, and every major sport has instant replay reviews.
By comparison, investing in the stock market requires faith in the information provided by the companies themselves, and the SEC constantly is prosecuting firms for false reporting.
Perhaps no better example of the integrity of sports betting, versus the corruption of the stock market, exists than the recent legal troubles of noted sports betting expert Billy Walters.
Walters runs possibly the most successful sports betting entity to ever exist, yet, it’s his moves in the stock market that have him and others in trouble with the federal government.
The rise of fantasy sports leagues and the recent push to legalize paid daily fantasy sports contests have shown professional sports leagues that legal sports betting is not a threat to their operations and game integrity.
The NHL on June 22 approved the first professional sports team in Las Vegas, which will be owned by entrepreneur Bill Foley and will play at the T-Mobile Arena, which can seat up to 17,500 for NHL matches.
Even the NFL, which has held the most stringent restrictions against Las Vegas, including banning even non-gaming ads promoting Las Vegas during the Super Bowl, might allow the Oakland Raiders to relocate to Las Vegas and have advised all 32 teams on how to address media inquiries related to Las Vegas.
Many NFL team owners also say they think Las Vegas would be a good NFL city and one of the best places for fans of visiting team to go visit for the Sunday afternoon game.
Oakland Raiders owner Mark Davis likes Las Vegas and its growing market so much, he wants the NFL to let him move the team to Las Vegas, if a 65,000-seat domed stadium is built.
New England Patriots owner Robert Kraft recently told USA Today that Las Vegas, if a stadium were built, has the infrastructure to host a Super Bowl and a lot of experience hosting large events.
There’s also a likely large windfall an NFL-caliber stadium with an NFL team competing in it likely would obtain from corporate suites.
Virtually every major casino in the city likely would want a private suite for entertaining high-rollers and business partners, and that would drive up the demand and price for private suites.
Whether or not the Las Vegas NHL team proves successful and other professional sports leagues choose to locate in Las Vegas, the city’s legal sports books have shown they no longer are obstacles to professional sports in Sin City.
