Huffington Post – Sports betting is booming. Reuters estimates one trillion dollars is bet annually on sports worldwide. Yes, trillion with a T! It’s estimated that half of adult Americans bet something on this year’s Super Bowl. Betting on sports has been big business for a long time, but what’s different recently is the modern media’s acceptance of this reality.
Lotteries, poker rooms, and casinos are everywhere these days — resulting in a general waning of the taboo associated with gambling. So it makes sense that the ever expanding national sports networks (television and radio) have embraced the Vegas perspective in their hunt for differentiated content.
Considering that countless hours are spent on these networks previewing games — it’s only logical to include Vegas odds, the most accurate predictor of sporting event outcomes. Which team is expected to win, and by how much, creates compelling context for any sports conversation — going all the way back to David and Goliath! And when NFL.com covers an NFL coach talking about the point spread — like they did this season — it’s obvious that any remaining resistance is no more than perfunctory.
Yet, sports betting’s reputation, in the minds of some, is still unsavory. In some ways this is Hollywood fiction, while in other ways the skepticism is deserved. The industry must make a clean break from the objectionable elements of its past — establishing a new, clear standard of professionalism. This standard cannot rely upon nuance. It’s vital that both sports bettors and the sports media are able to identify at a glance the legitimate from the illegitimate.
The requirements of legitimacy should be no different than any other industry: fair business dealings; delivery of what is promised; accurate and honest promotion; a transparent business history allowing for review and audit. It’s the responsibility of the industry to work together toward this goal. It’s the responsibility of sports bettors themselves to accept nothing less. It’s not surprising that a business which has historically taken place in the shadows has a history of shadowy dealings. Now, finally, sports betting has the chance to step into the sunlight.
