Brad Humphreys at TSE:
As an economist, I have trouble understanding
the resistance to sports betting in the US. Watching sports and betting
on sports are complementary activities. Sports betting is legal in the
UK and the Premier League seems to function well in that environment.
The NCAA's rabid anti-gambling stance arises because they continue to
pay student-athletes a fraction of their marginal revenue product. As
long as that continues, there will be incentives for NCAA
student-athletes to shave points. Never mind that office pools
contribute heavily to interest in the NCAA Men's Basketball Tournament,
which happens to pay a lot of the bills at NCAA headquarters in
Indianapolis. Kids, don't bet on sports. Bettin' on sports is baaaaaad,
m-kay?