WILMETTE, Ill. — Sports industry leaders are constantly looking to expand their revenue base and motorsports is no exception. The ultimate combination is to engage fans and give them a chance to earn money.
Betting could be the answer.
The expansion of legalized sports betting took off after a Supreme Court opinion in May 2018. This ruling invalidated the Professional and Amateur Sports Protection Act statute, which restricted regulated sports betting primarily to Nevada.
Six years in, sports betting is legal in 38 states, with ballot initiatives on the books that would add two more. The remaining states have deep-seated political opposition or complex tribal relationships that will likely prevent legal betting.
Now that sports betting is here, the various parties had to figure out how to make money at it. The most common way for fans was to place a winning bet then collect their winnings.
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