By Megan R. Wilson | The Hill
The Supreme Court decision clearing the way for states to legalize sports betting has set off a scramble to influence new laws and regulations.
Five states, plus Nevada, have already passed sports wagering legislation, and legislatures in 14 additional states have bills in the works.
The policymaking action is likely to be intense, with tens of billions of dollars in potential revenue at stake.
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In 2017, according to estimates from the American Gaming Association (AGA), people in the U.S. illegally bet more than $4 billion on the Super Bowl. That total, amassed for a single sporting event, hints at the vast sums that could flow into sports betting once it is above board.
“The action is going to be hot and heavy in the states, that’s where we’re moving very quickly, making sure our industry is armed with everything it needs to ensure smart effective policy on the state level,” said Geoff Freeman, the president and CEO of the AGA.
“As these states begin drafting and implementing laws to permit gambling, they must keep in mind that over-regulation will not lead to the revenues and openness they hope for. Too many proposed regulations are granting gambling monopolies to the state lottery or existing casinos and establishing high barriers to entry through costly licensure processes and high taxes. To succeed in bringing gambling into the light and reap revenues, states must ensure legal gambling is both widely available and more enticing than the illegal gambling sites that already have a relationship with consumers.”