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The Hart Trophy in the NHL has been awarded by the Professional Hockey Writers’ Association to the league’s most valuable player every year since 1926. Thanks to a landmark ruling by the Supreme Court in May 2018, individuals in 22 states can place futures bets on particular players to win the award at any point in the NHL season.

Sportsbooks change odds for players based on recent performance and, as a result, there is generally more value in betting on the favorites prior to the season as opposed to late in the season. …

The NFL is a multi-billion-dollar business that, over the years, has attracted partnerships with some of the other most profitable businesses and brands in the US — including Barclays and Anheuser-Busch. In May 2018, the Supreme Court legalized sports betting, providing another potential source of revenue for the league.

The NFL originally opposed sportsbook partnerships out of concern it would compromise the sport. However, it signed a $30 million partnership with Caesars Entertainment in 2019.

Since then, the league forged an exclusive betting partnership in the United Kingdom and Ireland with 888sport, which also sponsors the New York Jets. …

In 2018 the federal ban on sports betting in the US was struck down by the Supreme Court, paving the way for states to introduce bills to legalize the activity. By 2020, New Jersey, Arkansas, Indiana, Mississippi, and Pennsylvania were among those that began accepting legal bets. Sports betting markets grew in these and several other states, but, like other industries, faced significant challenges due to the COVID-19 pandemic.

The pandemic shut down operations at each of the four major North American professional sports leagues. New Jersey, which brought the sports betting case to the Supreme Court and is the…

After being cancelled in 2020 due to the COVID-19 pandemic, the 2021 NCAA Tournament, also known as March Madness, took place from March 18 to April 5 at several arenas in Indiana including Lucas Oil Stadium, Simon Skjodt Assembly Hall, and Indiana Farmers Coliseum.

Teams were stationed in the Indiana “bubble” to limit the likelihood of potential cancellations or delays due to COVID-19. In the end, the Baylor Bears emerged as first-time NCAA Tournament champions following an 86–70 victory over undefeated Gonzaga in the National Championship.

March Madness has long been a popular vehicle for monetary wagers and betting. Millions…

The decision on whether or not to legalize sports betting has been up to individual states since New Jersey’s Supreme Court victory in May 2018. Delaware became the first state other than Nevada to offer single-game betting options on June 5, 2018, and, nine days later, a William Hill sportsbook in New Jersey began accepting bets. As of February 2021, sports betting is legal in 25 states and Washington, D.C. Many other states have either recently passed or introduced sports betting bills.

Below are four recent headlines concerning the legal sports betting market.

Photo by Markus Spiske on Unsplash

Michigan Sets Opening Month Record in January

Michigan passed sports betting legislation in 2020…

The NCAA Tournament, also known as March Madness, is one of the premier events on the sporting calendar, particularly among those with an interest in sports betting. First played with eight teams in 1939, the tournament has had a field of 64 teams since 1985.

It is also the source of billions of dollars in single-game bets and office bracket pools. Below is an in-depth look at the tournament and its popularity as a vehicle for sports betting.

Photo by Hannah Gibbs on Unsplash

Potential Record-Breaking Year in 2021

Thanks in part to the fact that online gambling is now legal in more than two dozen states, the 2021 NCAA Tournament…

Spring training is underway for the 2021 Major League Baseball (MLB) season and, barring any COVID-19-related restrictions, teams are expected to play 162 regular season games. Teams were limited to 60 games in 2020 due to the pandemic. The Los Angeles Dodgers won the World Series, while Freddie Freeman and José Abreu won the National League (NL) and American League (AL) MVP, respectively.

Interestingly, neither of those players are considered top-five bets in their respective leagues to repeat as MVP. In fact, both are ranked seventh in terms of betting odds by Vegas Insider. …

Super Bowl LV was a 31–9 triumph for the Tampa Bay Buccaneers over the Kansas City Chiefs as quarterback Tom Brady threw for three touchdown passes and the ‘Bucs defense gave Chiefs’ quarterback Patrick Mahomes little time to find open receivers. It was the first Super Bowl victory for Tampa Bay since 2003 and the seventh Super Bowl for Brady, who previously won six with the New England Patriots.

Despite the fact he will be 44 years old when the 2021 National Football League (NFL) season begins, Brady recently signed a two-year contract extension with the Buccaneers. He has shown…

The 2021 Major League Baseball (MLB) season is expected to begin on time and teams will again play 162 games barring any unforeseen circumstances. Last year, teams were limited to 60 regular season games due to the COVID-19 pandemic. Moreover, spring training was suspended, games were postponed due to positive tests, and some players even opted out citing personal health reasons.

This not only affected competitive balance for the 2020 MLB season, but also made betting on baseball a little trickier than in years past. …

The sports betting sector has grown substantially in recent years, largely due to a 2018 decision by the Supreme Court to uphold a 2014 New Jersey law allowing casinos and racetracks to take bets. This opened the door for other states to follow suit — and many have.

As of February 2021, placing wagers on sports, whether online or in-person, is legal in 21 states, with several others considering legalization to remedy budget shortfalls. Similarly, in Canada, Prime Minister Justin Trudeau recently put forth legislation to legalize single-event sports betting. …

Nick Palazzo

Nick Palazzo — Developing Sports Businesses and Youth Sports

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