Given golf’s interest in legalized sports betting, the early returns from states that were all in combined with lagging efforts by most states, suggests the expected windfalls may be slow to come, writes Timothy Williams of the New York Times
It’s well worth reading if you know anyone banking on sports betting windfall. The PGA Tour has largely positioned their interest on fan engagement via fantasy leagues and the mobile experience, so the early struggles with sports books as outlined by Williams may pertain less to golf. Then again, if legalization only happens in a few states, that will slow the inclusion of any expansion on any platform.
The reluctance of state lawmakers, gambling analysts say, is based on a growing consensus that legal sports betting may not bring the windfall that economic forecasters predicted only a few months ago.
“There were a lot of people who didn’t know what they were talking about,” said Allen Godfrey, the executive director of the Mississippi Gaming Commission, which oversees the sports betting ventures around Tunica.
Since the Supreme Court’s decision last May, which raised the prospect of hundreds of millions in new tax revenue, just six states have given final approval to allow legal sports betting. In a seventh state, New Mexico, Native American tribes have begun offering sports betting with federal approval.