How Boxing Has Defined the Growth of Sports Betting

Few sports are as synonymous with betting as boxing. For centuries, people have been betting on fights and continued when the rules and regulations that formed the sport of boxing were created. The gladiatorial nature of boxing makes it perfect for sports betting and around the world the betting market around boxing is huge.

In the United States, boxing is arguably the most popular sport and certainly competes with basketball, baseball, and football. However, sports betting in the country has been limited for years because of legal restrictions. Luckily, the last couple of years has seen sports wagers legalized and people have more access to betting websites for boxing.

Eight states now allow legal sports betting, New Jersey, New Hampshire, Pennsylvania, West Virginia, Indiana, Iowa, Nevada, and Oregon. 18 more states have legislation for legalization ready to launch, including Tennessee where boxing fans can click here for all their sports betting needs in the state.

The road to legal betting on boxing has been long. In fact, legal sports betting of any kind was prohibited in the United States by the Professional and Amateur Sports Protection Act of 1992 (PASPA). Nevada was the only state that allowed traditional sports betting on single events for over 25 years, making Las Vegas the center of boxing betting in the country.

However, in 2018, the Supreme Court decided to overturn PASPA and allow states to develop their legislation for legal sports betting. Since then, 25 states have either already introduced sports betting or will do so in 2020.

Since the abolishment of PASPA, a massive economy has built up around legal sports betting and the market could one day surpass Europe in terms of sports wagering revenue. Either way, there’s no doubt that boxing has played a massive part in increasing the profile of sports betting in the United States.

While betting on all major sports is popular, no sport draws bettors like boxing. Perhaps it’s the simplicity of the sport that attracts punters. People love fights and like to debate about who will win and then place a bet on the outcome.
In recent years, there was one significant fight that highlighted how important the sport is for the gambling market:

Floyd Mayweather, JR. vs. Conor McGregor

The so-called “Money Fight” was the richest ever fight in the history of combat sports and saw undefeated boxing champ Mayweather clash with UFC megastar McGregor under the rules of boxing. We all know that Mayweather, JR. coasted to victory, but the fight was important not just because of its entertainment and spectacle.

Mayweather, JR. vs. McGregor showed that people love to bet on boxing. At the time, PASPA was still in place but even so hundreds of millions of dollars were bet on the outcome of the fight. In those days, that meant tapping into online sportsbooks that were held in Nevada or offshore. While online sports betting is illegal in most states, laws do not prevent individuals from betting on out-of-state sportsbooks.

The fight between Mayweather, JR. and McGregor showed the massive economy of sports betting. Furthermore, it showed that boxing can be a significant driver of that economy. While the fight was certainly not the trigger for the Supreme Court to overturn PASPA, it is clear the money that sports betting generates for states was a defining factor.