NHL Executive Suggests New Gambling Revenue Could Actually Keep Ticket Prices Down
The NHL’s 180° on the virtues of sports betting is causing whiplash among people who for two decades saw NHL commissioner Gary Bettman shout about the dangers of legal sports betting and its potential to ruin sports.
Following a flurry of recent NHL announcements including deals with MGM Resorts International to become an official sports betting partner, and a partnership with FanDuel to become the “exclusive official daily fantasy partner and an official sports betting partner of the NHL” — Los Angeles Kings president Luc Robitaille on Wednesday said that gambling revenue derived from such deals and other channels could actually lower ticket prices or at least prevent them from rising at the same rate.
Robitaille made the remarks during an appearance on ESPN’s On Ice podcast with Greg Wyshanski and Emily Kaplan on Wednesday, saying in part: “I’m not going to guarantee it’s going to bring down ticket prices, but it might hold the raise a little bit. If a team plans on raising ticket prices by 8 percent, they might only raise them by 5 or 4 percent. If there’s a lot more money at the table, it makes everybody’s life easier.”
We’ll put the likelihood of a reduction of prices and/or slowing of their incremental increases at 25-1. Let’s now explore the reason for that line a bit deeper.