Why is Nevada so special? Why does the state of Nevada have a monopoly on sports betting (the legal kind, of course). The debate over legalizing sports wagering outside of Nevada is growing, thanks to two moments last year.
According to Howard Stutz, writer for Inside Gaming:
1) NBA Commissioner Adam Silver in November suggested in a New York Times Op-Ed piece that expanded sports wagering should be legalized and regulated in the United States, becoming the first CEO of a major sports league to advocate for the change.
2) New Jersey has been trying to get legalized sports wagering at the state’s casinos and racetracks since 2012 to help the decline caused by Atlantic City’s demise. However, the courts turned down the initiative in November.
Howard Stutz, someone who always seems to have his hand on the pulse of the gaming industry, implies in his article that there just might be interest outside Nevada. He states that “The American Gaming Association, through CEO Geoff Freeman, reported that an estimated $3.8 billion would be illegally wagered on the Super Bowl, 38 times more than will be bet legally in Nevada.” Wouldn’t every state in America love the taxable income that a portion of that would generate? And, by the way, let’s just include one more event that would generate tons of state revenue if legal and regulated – betting on March Madness.
Running parallel to this is the Bureau of Indian Affairs changes to tribal recognition. Debate continues on loosening regulations concerning recognition of tribes and tribal lands. I wonder if sovereignty could eventually mean what it was meant to be – one’s own nation. Which also means tribal casinos wouldn’t be shackled by federal laws regulating sports betting. Tribal nations, under their own sovereignty, could offer sports betting – any tribal nation – outside Nevada. Just a thought…
We’re still waiting to hear from Presidential hopeful Christie if sports-betting is on his agenda to help Atlantic City’s plight.
Sports Betting or online gambling – which is the next new frontier for gaming?
that’s all for now