In early 2019, the National Football League (NFL) opened up sports betting, which allows fans to bet on their favorite sports teams. Before the season started, many bookmakers adjusted their lines and helped shape the opening week of the NFL season, which set an all-time record for wagering. Prior to the season opener, there were 28% fewer bets on the New England Patriots than there were on the Los Angeles Rams, according to a MarketWatch report.
Early History
While it’s always been fun to bet on sports events, history wasn’t kind to those who placed wagers on the outcome of sporting events. In 1900, the Massachusetts State Legislature passed a bill that made it illegal for people to bet on football Games in the state. The law didn’t directly target sportsbooks, but it was certainly targeted at individuals placing bets on games. It wasn’t until a few years later that the first sports betting shop opened its doors in Boston. Back then, it was simply referred to as “formalizing the activity” or “taking sports gambling out of the gutter and into the sportsbook.”
It would be another eight years before the first legal sportsbooks opened in Nevada. Two of the first three sportsbooks to open in the state were in Las Vegas, and they attracted a lot of sports fans looking to place bets on their favorite teams. In 1966, the states of Washington and Oregon passed legislation that authorized sports betting, which enabled Nevada to become the first state to entirely legalize and regulate sports betting.
Modern History
In October 2019, the NFL opened up its league for wagering on a variety of games, including American football, soccer, and even college and international games. Prior to the season opener, lots of bookmakers adjusted their lines and helped shape the opening week of the NFL season, which set an all-time record for wagering. This follows years of lobbying by the Nevada sports league, which enabled them to become the first state to legalize and regulate sports gambling. In 2016, the U.S. Supreme Court also upheld the Professional and Amateur Sports Protection Act, enabling the federal government to regulate sports gambling.
As a result, states like Nevada now have the legal authority to regulate and tax sports gambling transactions. Those who want to open a sportsbook in a legal jurisdiction must follow certain guidelines, which ensures the integrity of the game. Bookmakers also have to abide by certain laws, including not allowing bets on some events, like horse races, while others, like professional sports contests, are largely restricted to casinos and other gaming establishments.
Widespread Adoption
These days, it’s pretty common to find gambling options available at casinos and other gaming halls. When the NFL expanded its sports betting window, they made sure to include popular social media platforms like Twitter and Facebook, enabling people to place bets from the convenience of their phones. Many U.S. states, including Nevada, also have gambling options at their sportsbooks, making it easy for residents to place bets on their favorite teams. Additionally, a lot of the top Canadian bookmakers also have sportsbooks, so it’s easy for American and Canadian football fans to place bets from across the border.
Why Are Fans Getting Into The Act?
For those who enjoy betting on sports events, there are a variety of reasons why the 2019 NFL season marked the resurgence of interest in wagering. First, it’s always been fun to bet on sports events. Second, getting the latest sports news has never been easier. Third, social media has enabled sports fans to connect with other fans who share their interests. And last, but not least, the odds always favor those who bet on the underdog.
Record-Breaking Season
The 2019 NFL season was one for the record books. The league set several betting records, including:
- The largest margin of victory in a Super Bowl (89-63 in favor of the Philadelphia Eagles over the New England Patriots)
- The largest points margin in a Super Bowl (45-point game, where the Seattle Seahawks beat the Denver Broncos by blocking a field goal on the opening play from the Broncos)
- The largest combined sportsbook revenue in a 24-hour period (as of January 4, 2020). According to a USA Today report, the top 24-hour online sportsbook revenue was $12.5 million, and that represented an 89% increase from the $9.2 million posted during the previous 24 hours.
- The largest single-game betting total in the history of the NFL (128 points in the Patriots – Eagles Super Bowl match)
- The most consecutive games (20) won by the Jacksonville Jaguars in the NFL after a coin toss (prior to the Super Bowl, the team had lost 17 of 18 games before winning the one game that mattered the most)
- The highest payout in the history of the NFL (Boston College -24, LSU +23.5) during the 2019 NCAA football postseason
- The largest odds-on favorite (49ers) in the history of the NFL opened up (as of January 4, 2020)
- The largest losing odds-on favorite (Panthers) in the history of the NFL opened up (as of January 4, 2020)
- Most total bets (11.2 million) in the history of the NFL on the Kentucky Derby (2019)
- Most money wagered (7.3 million) on the Kentucky Derby (2019)
- Most bets (1.4 million) on the Kentucky Derby (2019)
- Most money wagered (936,100) on the 2019 World Series
- Most bets (873,000) on the 2019 World Series
- Most money wagered (1.26 million) on the 2019 NBA Finals (between the Los Angeles Lakers and the Boston Celtics)
- Most bets (1.07 million) on the 2019 NBA Finals (between the Los Angeles Lakers and the Boston Celtics)
- Most money wagered (1.28 million) on the 2019 Stanley Cup Finals (between the Boston Bruins and the St. Louis Blues)
- Most bets (1.21 million) on the 2019 Stanley Cup Finals (between the Boston Bruins and the St. Louis Blues)
- Most money wagered (8.3 million) on the 2019 PGA Championship (Tiger Woods)
- Most money wagered (8.8 million) on the 2019 PGA Championship (Tiger Woods)
- Most money wagered (5.9 million) on the 2019 US Open (Brooks Koepka)
- Most bets (3.9 million) on the 2019 US Open (Brooks Koepka)
- Most money wagered (6.5 million) on the 2019 French Open (Simona Halep)
- Most bets (4.5 million) on the 2019 French Open (Simona Halep)
- Most money wagered (4.47 million) on the 2019 Australian Open (Serena Williams)
- Most bets (5.7 million) on the 2019 Australian Open (Serena Williams)
Not all of these records are worth bragging about. The largest combined sportsbook revenue, for example, is simply the sum of the sportsbooks rather than an indication of the size of the market. Nevertheless, this was a record-breaking season for the NFL, and it’s easy to see why people would want to wager on their favorite teams.