Sports

Senator Orrin Hatch Wants Federal Regulation of Sports Betting

Senator Orrin Hatch Wants Federal Regulation of Sports Betting

Nevada, Montana, Oregon and DE have had forms of sports wagering since before the law took effect.

After a multi-year legal battle between New Jersey and the four major sports leagues, MLB, NBA, NFL and NHL, to get legalized sports betting outside of Nevada only, the monumental ruling paves the way for Tioga Downs as well as the other three NY state casinos to offer this type of wagering on property once legislation is written and passed by the state.

The Supreme Court ruled in favor of New Jersey and against the major professional sports leagues in saying the Professional and Amateur Sports Protection Act was unconstitutional.

And that's what does concern us about the ruling.

"I think the game will be corrupted".

"I think it's exciting to go", explained Giancini.

"It is possible for Congress to ban sports gambling nationwide, but it can not dictate those terms at the state level", legal experts say. The federal government can not force states back into a prohibitionary standard.

"Expansion of gaming is a slippery slope", he said.

"They're going to experiment", she said. I will just say there have been discussions. "It was not just about the integrity fee, but about marketing". In fact, Monmouth Park in Oceanport, N.J., announced Tuesday morning it will open a sports book for sports betting on Memorial Day.

"I think we're at a very interesting time with college sports and sports betting sort of converging", VCU athletic director Ed McLaughlin said last week, ahead of the Supreme Court ruling that declared each state can decide on its own if sports betting will be legal or banned.

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More than a dozen other states either have active legislation to authorize sports gambling or have considered it in the past.

While bets on high school sporting events have been taken by some offshore sportsbooks in the past, the practice is outlawed in Nevada, the only state as of now to legally offer single-game sports wagering.

The Supreme Court ruling will undoubtedly have an impact. New legal operators in other states nearly certainly will pay higher taxes than Nevada's 6.75 percent gross gaming win levy.

Meanwhile, companies from Europe, where mobile sports betting is already legal, are poised to move in. It also would allow sports betting at the Hollywood Casino in Charles Town, the Mardi Gras Casino and Resort near Charleston and at the Greenbrier in White Sulphur Springs, which is owned by the Justice family.

Tribal casinos generate more than $31 billion a year in gross revenue.

Monmouth Park, a horse racing track in New Jersey, has partnered with British bookmaker William Hill and said it will begin taking sports bets at the track on May 28.

Even local legislators gave up on sports betting after that, except for then-Assemblyman (and now Sen.) Jeff Van Drew, who started pushing to pursue it again in 2004 and introduced a bill the following year for a referendum to legalize betting in Atlantic City on pro sports.

So does ending the nation's ban on sports betting signal forthcoming problems for Nevada casinos?

Based on a proposed state tax rate of 10 percent on general gross revenues from sports betting, the firm predicts an additional $13.4 million in annual tax revenue coming to the state in the first year of sports betting, with the amount rising to $28.7 million by year five. This would be available to those who already have player's memberships previously established at the casinos. To do so, they'll be looking to place their bet with one of the leaders in the industry like MGM, Boyd Gaming, and Caesars Entertainment. Unlike in some other states, Mississippi's betting would be confined to casinos and would not be allowed remotely. The in-house satellite radio station praised the decision as enlightened.

"I don't see any value or benefit of anyone betting as an athlete on their sport or others sports", Selig said. "For us now to be able to capture dollars that are significant and meaningful to our state, as well as other states, that's what I think we ought to do".