Sports Gambling Research Paper

One thing many economists agree on is the overall lack of effect sports can have on a city. Cities seem to be less impacted by a professional sports team because of things like opportunity costs, substitution effects, crowding out, and leakages (Baade, Baumann, Matheson, 2008, p. 797). These economists’ theory is that if there weren’t sports teams, people would still choose to spend money on other entertainment or attractions (Baade, Baumann, Matheson, 2008, p. 797). How the substitution effect works in sports is you imagine a city has a game, which supposedly tons of tourists and outsiders come to enjoy. These outsiders come for the specific event in which they are paying a good amount for, are not going to want to spend tons of money on other

On the other hand, law enforcement never gets these kinds of tips from illegal bookies. They aren’t going to self-incriminate themselves to report information about a fixed game for the sake of the integrity of the game. Furthermore, mob bookies are more than happy to take bets from professional athletes in hopes that they’ll rack up a significant debt. According to Michael Franzese, a former boss of the Colombo crime family in New York, his bookmaking network accepted bets from a number of professional athletes who were granted exceptionally high credit lines. “They either paid us or we caused them to compromise the outcome of the game,” Franzese added.

Money seems to run the world. People need money to buy food, buy shelter, and support families. There are many ways to make money in order to survive, which most commonly involve working a full time job, but also include illegal means and gambling. Gambling seems to be an easy way to make money, but also a high risk… but not if the game is fixed. Despite the lack of prevalent hard evidence proving they fixed the game, the eight White Sox players involved in the 1919 World Series bribery scandal were rightfully banned.

Gambling has an adverse impact on the individual athlete's or coach's integrity. Reputation diminishes, and the athlete becomes better known for participation in gambling activities than for athletic feats and career accomplishments. Gambling scandals can ruin careers, and permanently mar the individual's ability to participate in the sport again. As Finley, Finley & Fountain (n.d.). point out, gambling also has the potential to ruin the integrity of the entire team, league, or whole sport. "Ensuring an honest and uncorrupted game has been one of the biggest challenges facing sport," (Finley, Finley & Fountain, n.d., p. 41). Baseball in particular has been plagued by gambling scandals. However, other professional sports have also revealed the prevalence of widespread corruption. Finley, Finley & Fountain (n.d.) also note that gambling on college sports has been a problem since the CCNY point-shaving scandal of the 1950s. Point shaving proved lucrative enough for high-profile black market gambling syndicates to flourish. Although most players, coaches, and teams are not corrupt, the few that are have sullied the image of all sports.

Sports Betting Should be Legal claims that if you become addicted to gambling, you can over gamble and gamble with money you don’t have. Although this is true, there is an easy way to stop this from happening. A person could limit their budget while at the sports stadium. They could have twenty dollars set aside for food and spend that. A person could bring maybe thirty dollars for souvenirs. Instead of spending their money on that, they want to make a profit. Betting only a little bit of money would not affect you if you lost as much as it would if you brought a lot of money. Gambling would not be a problem as long as person uses common sense and limits how much they

While playing a sport in college, athletes have other multiple costs as well. A survey taken in 1989 of college football players resulted in 31% of players that gambled illegally, but 48% of people knew a player that gambled. Players are giving out team information to gamblers, so they can bet more accurately on the game to win money (Porto). Athletes do not have any extra time for a job, so it is difficult for them to make money. A study shows that this has lead some athletes to gambling, which is illegal by the NCAA. This shows that the student-athletes will do whatever it takes to make some money to help pay for other costs.

Gambling in professional sports is an ethical dilemma that needs to be examined from all angles before making a decision on whether to bet or not. Gambling has been a part our society for thousands of years, dating back to the original Olympic Games in Greece. Depending on where you live, there will be different laws regarding the rules of gambling. The story of Pete Rose shows a good example of what can happen to a sports manager that bets on his own team and others in his sport. In this case, there will be a situation where someone is faced with an ethical dilemma and they must go over all options before making a decision. Before betting on a sports team, one must look at all alternatives to betting and the consequences that come with each one. After this, a choice must be made regarding the ethical dilemma. This decision must be looked at from the legal side of things, as well as your own gut feelings towards your choice. You also must ask yourself how you would feel about it if you told the world what your decision is. The code of ethics of sports managers can also play a role in the decision making process. An ethical theory called utilitarianism will also be a way of looking at how and why the decision was made. By covering all these topics, it will assist in making the decision for an ethical dilemma.

Neither of which is actually a gamble, because my edge in both is rather large,” says Voulgaris. He is also a professional poker player. Anyone with an independent mind who looks into the details of sports gambling should determine that sports gambling is clearly a game of skill; however, the stigma attached to sports gambling clouds that perception. Sports gambling would likely be widely viewed as a game of skill, in the same way as poker, if sports handicapping tournaments received the same kind of media exposure as major poker tournaments. And that may become a reality depending upon the outcome of New Jersey’s entry into sports

Fantasy sports leagues cause debt. People spend money that can be avoided by partaking in a free league. The average gambler spends $38,000 a year, and ends up $20,000 in debt yearly (Hall n.p.). Due to this, many relationships diminish and mental and physical health declines, whether the person focuses towards gambling to pay attention to anything else, or they cannot put food in their mouth because they spend all of their money trying to “hit it big.” Participants lose money they need to pay bills. Many Americans participate in gambling and lose money that could go to bills and help them live a happier life. 23 million Americans go into debt because of gambling and the average loss nears $55,000 a year.

This is important because it just adds on to the price people already have to pay for the sport and tournaments but they also have to pay for equipment. All this goes to show that playing travel sports can be very expensive, which is why they should be banned.

The economy is in the worst recession since the 1970s and it is only getting worse, and many professional league teams are feeling the burn. Instead of letting the economy suffer, lawmakers can help it. By removing the ban on performance-enhancing drugs, more players are likely to take them; as a result they get better, stronger, faster, and more competitive. With the fiercest and the best competition always out there, more people are likely to watch and buy tickets. Thus, consumption by the public helps the economy because consumption by the people drives the economy.

One reason we should not pay college athletes is they will have extra money for the temptation to gamble. Gambling by athletes is a growing social cost of big time college sports (Hearn). If we do not pay these athletes they will not have a lot of extra money to gamble. The result of a Michigan study revealed that more than 5 percent of players’ have either given information about their team, bet on games they have played, or shaved points for money (Hearn). Affecting

“It’s illegal to bet on college athletics in 49 states,” said former Notre Dame football coach Lou Holtz, “Why isn’t it in the 50th state as well?” Gambling is an institution that has been a part of people’s lives for many years; recently a new area has attracted attention for betting. College athletics are now an integral piece in gambling and provides a broader scheme for sport betting. The industry is fed by one state out of 50 in which sport gambling is legal. The legalization of college sport gambling in Nevada has created huge controversy in the United States, because of the corruption, such as game rigging and point shaving (Bartlett 53). These problems cause many people to believe that the industry should be completely outlawed.

"A college senior sits at his laptop. His wife is in another room, thinking her husband is writing a term paper. Instead he's on an internet gambling website, where he's able to bet on virtually any professional or collage sports event by charging the wages to a credit card. His losses have reached $25,000. His tuition money is gone. and he cant stop." (Wier, Tom). College students and millions of other Americans are playing fantasy sports and losing money. The topic of sports gambling has a deep history to consider, and there will always be both supporters and critics who continue to debate this

Gambling is a common practice throughout human history, one that appeals to the individual’s desire for gain and offers the thrill of risk or uncertainty. Sports gambling is the “wagering of money or other items of value on the outcome of a sporting event, dependent either wholly or in part on chance” (Thompson, 2008, p. 1). Sports gambling generates billions of dollars annually, with large events like the Super Bowl or World Series alone able to generate wagers in the billions of dollars. This research will explore the arguments of those who oppose sports gambling and those who support it in order to answer the question: Should sports gambling be legalized?