Sports hold a dear place in a lot of people’s hearts. Not only can you support your favorite team and see them go all the way to the top, but you can also participate yourself and become actively involved in the game. Live sports can be a joy to watch, and the thrill of excitement can be heightened even more when you take a look at live sports betting odds. Placing a bet on your favorite team or rooting for the underdog with the odds stacked against them, can add another layer of exhilaration to the game. However, did you know that sports can actually help the economy and a good example of this is Maryland, USA. Keep reading to discover the impact that sports have had in this wonderful American state.
Amateur And Youth Sports
Just like in other states, youth sports or collegiate sports are popular, and the teams can garner just as many fans as the professionals. In 2018, youth and amateur sports alone brought $194.6 million into the economy, which is also a growth of over 6% from previous years. The money raised from these sporting events is fed back into the state and can drastically help improve the community in so many ways. So not only are you supporting the young people of your hometown, but you’re also helping grow your state’s economy.
Tourism in Maryland is driven by sports, which is now having a positive impact on the state of the economy. $50 million was brought into the state just through sports tourism in the past few years, with it all coming from three sports: youth baseball, lacrosse, and soccer. Studies have shown that most of the revenue came from baseball as it held around 39 events each year with over 20,000 people attending them in total. Sports tourism can bring many benefits to a state, such as injecting money directly back into the economy. This funding can then be used for infrastructural building and repairs which helps keep the state safe, and it can be fed into educational services to help schools and children. As well as keeping the state in top condition for its citizens, the infrastructural improvements will also encourage more tourists to visit each year.
Sports tourism has also been linked to improving employment rates and creating jobs. Over the past couple of years, the sports industry in Maryland has generated over 650 jobs. Each year the number of sporting events is growing, which in turn will create more jobs to help the people of the state and the economy. One study found that just by hosting one home football game in Maryland, it enabled over 350 jobs and earnt nearly $2 million that can be given back to the state.
A sports game may seem like just a fun day out with the family, but it’s so much more than that. Sports boost the economy and are the driving force for tourism in Maryland. Without it, employment rates would drop considerably, and fewer schools and cities would be funded, leading to lots of economic problems further down the line.