In the world of sports gambling, scandals have become more prevalent. Both an MLB and NBA player have faced lifetime bans this year alone. Since 2018, bettors have wagered an impressive $330 billion, according to ESPN. The year 2024 is already being forecasted as a potential year for more sports-betting scandals.
Following a significant Supreme Court decision in 2018, which allowed states to legalize sports betting, the sector has seen a substantial increase in revenue. Many leagues and team owners have entered into partnership deals to capitalize on this growing industry. Sports betting is legal in 39 states, Washington, DC, and Puerto Rico, and has become a mainstream activity among fans.
As sports betting gains popularity, scandals involving athletes have inevitably emerged. Recently, MLB and NBA players have been caught up in gambling-related issues, resulting in lifetime bans. In a separate case, a former interpreter for an MLB player was charged with embezzling millions to pay off his gambling debts. Despite these scandals, leagues and broadcasters continue to embrace sports betting.
Some analysts believe that making examples out of the individuals involved in scandals can help legitimize the sports betting industry. By holding players accountable for their actions, leagues aim to ensure the growth and sustainability of the lucrative industry.
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