Soon sport betting will be considered a ‘game skill’ if it is legalized in the United States. ESPN, a US sport network has revealed that the NFL and the Department of Justice, through legal documents that they are considerations to make sport betting a ‘game of skill’. The definition from both these two parties may be of importance in giving the distinction that would help determine whether sport betting will be made legal in the United States.

This document came into light when it was discovered by the biggest sports broadcaster, ESPN, as they were searching through public records. This game changing definition was outlined by the lawyers that stood in for NFL alongside Loretta Lynch who is a US Attorney General.

The earlier definition that determine the ‘Games of Skill’ is according to 2006 UIGEA law. This has been used for those who oppose sport betting on the grounds that despite the fact that some skill may be involved. When it comes to sport betting just like any betting activity the element of chance plays a greater role in determining and influencing the outcome.

Attorney General Lynch in 2013 noted that Sport betting involves some skill by the bettors but despite this Sport bettor would decide to exploit on the odds that would not reflect necessarily reflect on the outcomes of the games. This superior knowledge would effect on the mind set of those wagering and influence on the decisions they would make on the bets.

US betting advocates will be surprised by the news that ESPN have disclosed. This is because the NFL have always against sport betting being legalized. They were the first to be against sport betting being legalized in the State of New Jersey for the whole of 2014. Roger Goodell told the media in April that the NFL where still opposing the sport betting which where contrary to the words of Adam Silver who urged the senate to set up a legal framework that will allow and legalize sport betting.

Unlike in the previous years, UK bookmakers have not been lucky in 2015 with its ambition of becoming the best political indicator. This is because the betting markets have not been able to predict correctly a political outcome for the second time this year. Could it be that trends have changed?

During the Greek’s referendum held on Sunday last week, UK bookmakers favored a YES verdict. On the other hand, Paddy Power who offered 2/7 with confidence for a Greek Yes, declared its ‘five figures’ payment four days earlier as the UK bookmaker pulled out of its political market.Even so, the bookmaker’s early pay out of five figures was shattered by an uneven 61% win of Greek NO vote in the Sunday’s referendum.

It is with no doubt that Paddy Power testimonial sent to Bloomberg.com, a financial news source after wrong prediction would read: “My Bad.”

The Irish bookmaker claims to have been overexcited in paying out and that after Paddy Power called the Greek referendum wrongly with a lot of confidence, they are feeling like burying their heads under the sand this morning.

Generally, the Greek’s referendum outcome is a clear representation of another failure of political forecasting by bookmakers.

Another example is in April/May during the UK General Election, the bookmakers had also predicted a win for Labour-SNP hung parliament.

Besides that, during the Scottish independence referendum that happened in September 2014, UK bookmakers had been completely off the mark with the results.

All the same, bookmakers should not lose hope and take encouragement from research firms and political polling, which are ever criticized for failing to provide adequate forecasting data and calling the Greek referendum correctly but still keeps going. After all, that is what makes betting interesting.