Ryan Smith Doesn’t Want Betting to Take Over Sports

Jazz and Mammoth owner Ryan Smith is concerned about the negative consequences of sports betting and prediction markets, despite acknowledging they are not going away. Speaking to Front Office Sports, Smith emphasized that leagues must take responsibility in implementing safeguards. "We all know the risks of gambling," he stated, recalling that lives have been ruined due to such activities.

The growth in sports betting and prediction markets since the 2018 U.S. Supreme Court decision that struck down a federal gambling ban has been significant. In 2022, Americans wagered $167 billion on sports, a 192% increase from $119 billion in 2021, according to the Urban Institute. The issue extends beyond individual bettors, as players and coaches also suffer due to the pressure from bettors' expectations.

Smith recounted an instance where Jazz head coach Will Hardy had to reassure a fan that he would cover their bet, as he had to focus on coaching. In Utah, where sports betting is illegal, a federal judge recently permitted state regulators to enforce gambling laws against prediction-market platforms. Smith believes that the NBA and NHL should leverage their influence to ensure betting remains safe for consumers.

While the NBA has partnered with DraftKings and FanDuel in traditional sports betting, the NHL has formalized agreements with Kalshi and Polymarket. Smith's stance is not driven by financial gains but by the fact that betting has become an integral and interactive part of sports for many fans. He advocates for moderation and believes that it is possible to enjoy sports without being overwhelmed by gambling.