The football gambling industry involves billions of dollars and is one of the highest grosser of revenue in the gambling industries of the United States. NFL betting, which includes sportsbook betting, is the highest segment among all sport related gambling in the country. Studies done on the gambling scene in the US indicate that $80 to $380 is wagered on betting on sports related activities. These are the figures for illegal betting alone. The biggest chunk of the betting is done on the NFL on teams that form the premier football league in the country. This is supported by statistics that reveal that more than $1 billion was wagered illegally on football within the state of Nevada in 2007.
There has been some debate on the effects of football gambling on the economy, and questions asked whether they’re in place standards to ensure a fair betting system in this sector. As far as illegal betting is concerned, there are no statistics that prove the positive effects of illegal betting and people are well aware of the fact that the illegal betting industry is a high risk, volatile one. There is also no efficient system in place that controls or monitors illegal football gambling. In such a scenario, the negative effects of illegal football gambling cannot be discounted or written off.
In legalized football betting, under authorized regulatory bodies, strict guidelines and norms control the betting system to ensure fair play and transparency. Moreover, millions of dollars are pumped into the economy by legitimate forms of wagering, which is again pumped back into the economy by employing thousands of people in this industry. Even during the recession, this sector has not seen a big dip in the participation of players/betters. Unlike casino gambling and other predatory modes of gambling that are harmful, addictive and do affect the financial statuses of players, adversely, football gambling has never been proven to be either addictive or financially destructive. That said, any endeavor that involves predictions on future events does carry a certain risk, and it is up to the betters themselves to wage and play responsibly.
