Written by :
Published on :
- Current laws concerning illegal sports betting in the US have simply drawn the activity underground
- Underground sports betting market estimated to be worth up to $450 billion
- Criminal enterprises continue to thrive thanks to current legal landscape
- Report concludes that a “federal ban on sports betting interferes with a state’s traditional role in regulating gambling”.
The Law Enforcement Summit on Illegal Sports Betting: After Action Report has concluded that the current US approach is simply not working. The five conclusions drawn were outlined by David Payne Purdum of ESPN Chalk via his Twitter account.
Instead of curbing illegal sports betting, current laws have simply drawn the activity underground, the report suggests.
This has resulted in a “thriving $150 to $450 billion illegal market with no consumer protections”.
The report also noted that the current landscape has helped to fuel criminal enterprises.
“This illicit activity drains law enforcement resources, hindering their ability to fight crime and protect our nation’s citizens”.
The report also cites the UK as having an open, transparent regulated sports betting system that has helped to boost law enforcement oversight.
“The United Kingdom and other international markets have demonstrated how legal, regulated sports betting can create a powerful partnership between the gaming industry”.
The betting culture in the United Kingdom is accepted to the point where football clubs have long partnered with wagering firms to promote gambling on the games.
US states must also play a central role, the report concluded.
“A federal ban on sports betting interferes with a state’s traditional role in regulating gambling”.
This has also resulted in state’s lacking the proper tools to combat illegal sports betting.
And finally, the report concludes it is time to repeal the current federal ban on sports betting, thus opening the door for individual states to determine whether the activity should be legalized or not and ultimately reap the tax incentives in doing so.
This promises to be a hot topic at next week’s Global Gaming Expo in Las Vegas as former National Basketball Association (NBA) Commissioner David Stern is set to express his support of legalized sports wagering, something he was dead set against while Commissioner for 30 years.
Alejandro Botticelli, Gambling911.com
