A successful casino business is synonymous to Donald Trump and this is the reason the industry lobbyists are betting the decade old federal ban on sports betting may be lifted.
Since 1992 wagering on sports have been declared illegal across United States following the birth of Professional and Amateur Sports Protection Act (PAPSA). Only Nevada, Delaware, Oregon and Montana are omitted from the act and are legally offering sports betting.
In recent years, particularly during the second term of Barack Obama as President, the case for legalized sports betting industry based on taxation and regulation has been strengthened amid great public support from prominent figures including NBA Commissioner Adam Silver.
About a year ago, much before the presidential election, Donald Trump talked about failed law and benefits of regulation on Colin Cowherd’s show (FOX Sports radio host).
Quoting Trump, CEO and president of the American Gaming Association, Geoff Freeman, said they are entering a perfect storm of interests among owners of individual sports teams as well as broadcasters.
According to lobbying organization American Gaming Association about $150 billion are placed annually in illegal wagers. Most of these bets on sporting events will be made between friends, work colleagues, college students as well as through bookies and offshore betting websites.
In November 2015 Donald Trump said he is okay with sports betting as well as with the daily fantasy sports league because those are happening illegally on a day to day basis.
In 1993 he was pro-oriented saying people have to favour the legalization of sports betting as it will help in keeping the taxes low and this is important because the bookies will be put off the business.
Meanwhile, the fight to legalizing has already started in several states including New Jersey, South Carolina and New York.
Trump’s Transition Team has maintained tight lips on the matter, but many believe a major effort is on card in the president’s first term and similar to the change in public opinion about marijuana the 1992 law too will be repealed.
A Florida-based lawyer specializing in sports related litigation, Daniel Wallach, said Congress may address the issue directly within Trump’s first term and a federal law may not be needed immediately to pave the way.