In a historic ruling yesterday morning, the Supreme Court voted 7-2 in favor of lifting the longtime federal ban on sports gambling, a market that has major implications for various parties.
Obviously, one of the primary organizations affected by the ruling are the sports franchises themselves. While many perceived that the integrity of the games could be compromised now with gambling only increasing in popularity going forward, Dallas Mavericks owner Mark Cuban thinks the ruling altered franchise’s monetary valuations for the better. Following from ESPN’s Jacob Wolf:
— Jacob Wolf (@JacobNWolf) May 14, 2018
Though Mark Cuban is correct in that the franchises immediately become more valuable, his estimation of the value doubling may be a bit of a reach. However, Cuban could certainly end up being correct as the way the world now consumes sports and who consumes sports could be changed forever.
The games will surely begin to reach wider audiences as the average person may now see following sports regularly as an endeavor towards more financial gain. With potential money on the line, a lot of the matchups across all sports will become more intense for the audience while viewership should also see a noticeable spike.
The ousting of the federal ban on sports gambling had been in the making for years now, as $150 billion is already wagered illegally every year. Now with states being granted the freedom to make their own policy on sports gambling, this could be a boost for everyone involved, especially for the marquee franchises as Mark Cuban pointed out.