I like the idea of having a sort of 'bread and circuses' outlet for our citizens a la the Romans. Races, gladiatorial combat, whatever sports. We want to keep them happy and ready to answer the call to defend the nation. Any sort of group event should be accompanied by paeans to the state and its leaders. Victories should be dedicated to the Supreme Leader. Competition should be to demonstrate superlative physical condition, skill, or whatever -- not for only, or even primarily for personal glory, but to glorify the state. Every sport requires some skill or characteristic that would come in handy in time of war -- podracing would be piloting and reflexes, holoball (or whatever) would be athleticism, etc. -- and this is what sport is for. I don't believe we should have a lot of commercialism in these sports, but instead lots of patriotism. Flag displays, national anthems, etc. etc.
Just my opinion