Thursday, July 5, 2018
Fifty Percent of Americans Polled, Favor Legalized Sports Betting According to a Fairleigh Dickinson University Poll It’s Now Legal, However, the Work is Just Getting Started by Robert Ambrose
The dust is beginning to settle on the recent Supreme Court decision to strike down as unconstitutional, The Professional and Amateur Sports Protection Act of 1992, (PASPA.) Bringing Sports Betting (SB) into a recognized, legal, transparent model means jobs and a tax stream for states, as it provides another “market-driver” in customer visitation for casino properties. And at the same time, also reducing, and hopefully making illegal betting less desirable, putting those operations out of business.
There is a great deal that still needs to happen state by state to identify, discuss, define, negotiate, and finally develop into law a responsible, regulatory environment, that can hold up to the challenges for the integrity of the games, and customer engagement.
As far as regulations are concerned, expect to see similarities among states, as well as some differences. What all should agree on is sound regulations and reasonable tax rates. There are 4 states that have passed legislation to bring sports betting to their specific jurisdiction.
They are: Mississippi, West Virginia, New York and Pennsylvania. To clarify further, states that were grandfathered in when PASPA became a reality in 1992 are Nevada, Montana, Delaware and Oregon.