The National Hockey League players’ association has signed the framework of a new collective bargaining agreement and the league is set to resume on January 19th.
The news will bring relief to millions of fans who have been stuck waiting for the league to continue. However, it appears as if this year’s season will be cut to just 48 games.
The lockout, already the third to take place among major US sports in just over a year, is expected to cost the sport around $1 billion in revenue and it will also have a large impact on sports betting turnover.
Last year revenue from the NHL was $3.3 billion; the league to generate the most revenue was the NFL with $9 billion.
Betting brings in a millions of extra viewers and it is not surprise that when the league stops playing, the bets stop being made. Last year $3.2 billion was bet on sports in Nevada’s casinos alone.
There was also hundreds of billions bet on offshore based online sportsbooks. Luckily for both the NHL and bookmakers, the season will resume just in time for profits to be made from online betting.