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The reason not every game is televised is because if they were then attendances at the grounds would fall. In other countries they don't have this problem with the PL of course so they can show them all. It is the Premier League imposing the restriction in the UK in order to maintain attendances.
If you were a supporter of a team lower down the league would you find it fair that the bigger teams get more money from tv revenue because they are on more when they already have more money. I think the way its done is the fairest way for all clubs and helps make the PL competitive all the way down unlike some foreign leagues.