Sports betting is a rapidly-growing industry, but it is also a highly-controversial one. On multiple occasions, Casino Reports highlighted the complex regulatory gambling framework in America that is governed by three sets of gaming regulations, including local, state, and federal regulations. Sports betting has turned into a hot topic in most of the American states due to the 25-year-old federal ban on this type of gambling activity.
Some time ago, Massachusetts joined the pack of other states, which called for the removal of the long-standing ban, also known as the Professional & Amateur Sports Protection Act (PASPA). At present, the U.S. Supreme Court is tasked with reviewing the federal ban and decide the industry’s future. The topic made its way in the state Massachusetts Gaming Commission (MGC) and Everett, which is also impatiently expecting the court’s decision.
The U.S. Supreme Court is assigned the task to make a cost-benefit analysis and decide if PASPA (a federal law passed in 1992 that prohibits from legalizing and regulating sports wagering) should be repealed. Many states already made a push for sports betting legalization and all of them are hoping to be the first to offer legal sports betting in the country.
In the wake of a possible change in the regulatory regime, the Massachusetts Gaming Commission announced on Thursday last week that it is to keep its eyes peeled for the court’s decision. Last week, the media agency Boston Herald reported that Massachusetts is to prepare an authoritative report that is to inform state lawmakers about the benefits from sports betting legalization.
Benefits from Regulating Sports Betting
According to the American Gaming Association (AGA) reports, Massachusetts was able to reap $682 million from gambling for the last year, supposing that sports betting was legalized. The regulation of a multi-billion industry such as the sports betting could bring broad economic benefits and more job opportunities.
Apart from the city officials and sports betting fans, Las Vegas casino operator Wynn Resorts seems also to be interested in the court’s decision. The casino operator is currently working on a $2.1-billion integrated casino resort at the Everett waterfront, Massachusetts. Providing that the U.S. Supreme Court rules in favor of the sports betting legalization, Wynn Boston Harbor casino resort (expected to open sometime in 2019) is to increase its net turnover with billions of dollars.
As aforementioned, sports betting legalization has created an unabating buzz. Even though many states added sports betting to their wish list, nothing much seems to be changed so far. New Jersey was the first state to challenge PASPA. Unfortunately, the state’s efforts remained unsuccessful for 5 long years. But in the beginning of this year, a majority of justices on the U.S. Supreme Court decided to consider the opportunity to repeal PASPA and pave the way for the regulation of sports betting. At present, the future of this type of gambling activity rests in the hands of the U.S. Supreme Court.