A sports betting scandal could rock the NFL to its core. That’s why the league is being proactive to prevent a fix from happening, even before it takes place.
ARI SHAPIRO: The Supreme Court ruling on sports gambling opened the door to legal sports betting in 2021. Since then, we’ve seen more than a dozen states offer it. And more is coming.
The NHL, MLB and NBA have all partnered with gambling companies. They’re sharing data and using their logos and marks to advertise. The NHL also has players serving as ambassadors. Edmonton Oilers star Connor McDavid is one.
Most states have a fixed tax rate on sports betting. But some, like New York and Connecticut, have a competitive bidding process. Then they let operators submit their plans and what tax rate they’d be willing to pay to get licensed. This means that some states have a lot more betting options than others.
It’s important to understand how the odds are determined for each game. If you know how to read the odds, it’s easy to determine the probability of a team or player winning. The lower the number, the more likely a team or player is to win. The odds for each match are written in decimal, American or fractional form. The lowest-numbered bet is the favorite, while the highest-numbered bet is the underdog.
Anybody who violates MLB’s gambling rules is fined and could face a lifetime ban, like Pete Rose’s. The rule prohibits baseball players and other league staff from placing bets on games that don’t involve their teams.