It’s no secret NBA commissioner Adam Silver is in favor of sports betting. In September of this year, Silver made it clear that he felt sports betting was “inevitable.” He talks about the fact that there is currently a $400 billion industry of illegal betting. Silver also cites that times are different from 1992 when Congress enacted Professional and Amateur Sports Protection Act, which basically prohibits states from allowing sports betting.
Outside of the United States, sports betting and other forms of gambling are popular, widely legal and subject to regulation. In England, for example, a sports bet can be placed on a smartphone, at a stadium kiosk or even using a television remote control.
In light of these domestic and global trends, the laws on sports betting should be changed. Congress should adopt a federal framework that allows states to authorize betting on professional sports, subject to strict regulatory requirements and technological safeguards.
Regulation of the sports betting industry is a major sticking point, so Silver even offers solutions to this in his letter. The legalization of sports betting seems to be certainly looming. The governor of New Jersey approved a law in October that makes gambling legal in the Garden State. Now it’s a wait and see as to how other states respond.
[h/t NY Times]