Sports owners bet big on Republicans. What does their defeat mean for US sports?

A Democratic sweep has changed Washington’s balance of power. But from gambling legislation to stadium subsidies, both parties have helped build the system that enriches American sports’ billionaire owners Before a single vote was cast this election cycle, the technocrats and oligarchs who own American sports had already voted. Pro sports owners put more than $100m into this cycle, according to Front Office Sports. But Tuesday night was a referendum not just on Donald Trump and Maga policies, but on the puppeteers who pull America’s strings. The people voted, and the owners lost. Before anyone frames this as a rescue, a word about the rescuers. Democrats are the instrument for ending Maga, and they are also the other face of the same coin. Think Republicans are behind all of our ills? Think again. New Jersey’s governor, Phil Murphy, placed his state’s first legal sports bet in 2018. Illinois governor JB Pritzker signed sports betting into law a year later. New York’s mobile sportsbooks went live under Governor Kathy Hochul in 2022, with the state taking 51% of the revenue. Pritzker and Hochul both won Tuesday, and all of them are Democrats. In some of the biggest betting markets in the country, the bookmakers’ most reliable partner has been a Democratic statehouse. Continue reading...