Sports Betting News Updates: One Year After PASPA Overturned, Iowa Casino Preparing to Open New Sportsbook, More
One Year After Supreme Court Overturns PASPA
The Professional and Amateur Sports Protection Act of 1992 was overturned one year ago this week (May 14, 2018) by the US Supreme Court, thus heralding in a new era of legalized sports betting across the USA.
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So what's happened since?
The reverse meant states could amend their own laws to allow sports betting, and it's been mostly a trainwreck ever since.
Some, like New Jersey, have gotten it right thus far. New Jersey was the state that initially brought this matter to the Supreme Court.
We here at Gambling911.com aren't sure the states that follow really have their hearts in this outside of seeing an opportunity for a money grab. The problem is most of the other states that have legalized sports betting are not yet realizing anything close to their original forecasts.
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A handful of states in the past few weeks just legalized sports gambling - Montana, Iowa and Tennessee (the governor will not sign off on legislation that passed both the house and senate but has opted to let it become law automatically in the coming days).
These are the performance results thus far per PlayUSA.com:
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Iowa Casino Moving Foward With Sportsbook
The Riverside Casino and Golf Resort is ready to open a sportsbook after the governor signed a bill that allows sports gambling.
The casino is located just south of Cedar Radids and west of Davenport.
Riverside Casino General Manager Dan Franz told Kalona News he is happy the bill has become law.
“Now the work starts,” Franz said Tuesday morning. “There’s a lot of stuff to take care of before we take our first bet.”
Franz said that the casino has been laying the groundwork to open a sports book for a while now with the hopes of the bill passing and being signed.
“We’ve been on that path for quite a while,” he said. “We’ve been doing some work on it, and we have a lot more work to get done.”
He said he is looking at an area right off the casino floor – currently called Draft Day – for the sports book location.
“It won’t be like a Vegas mega-sports book,” Franz said. “It’ll be an area that’s good for our patrons.”
The casino is yet to choose a partner in the sports betting sector just yet.
Riverside generated just over $8.1 million in revenue last month, which places it within the top five of all casinos operating in the state.
Prairie Meadows is the largest, having generated just over $17 million in revenue last month. That casino is located just northeast of Iowa's largest city of Des Moines.
More Sports Betting News
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How to Start a Profitable Bookie Business
Online Sports Betting Market is Slated to Grow Rapidly in the Coming Years ...
Lawmakers Hope For Progress On Mobile Sports Betting
- Aaron Goldstein, Gambling911.com
