New Report - NCAA Tournament Pools Should Be Legal

March-29-2017

The month of March was never the same after Oregon defeated Ohio State University 46-33 on March 27th, 1939. This marked the first winner of the NCAA men’s basketball tournament and was the day that March Madness was born. Decades have passed since then, and college basketball has grown immensely in popularity. Nowadays, the NCAA tournament is not only one of the most exciting sporting events to watch, it is also the second most popular championship available to bet on at the best USA online sportsbooks. The millions of dollars that are put into brackets and office pools are no secret, and it is something that the majority of us look forward to every year. It has become so commonplace to wager on the madness that we ignore one glaring fact- sports betting is still largely illegal outside of Nevada.

“Not since prohibition have Americans so readily engaged in an illegal activity as they do with sports betting today” - Andrew Beyer, Washington Post Columnist

The Sports Betting Ban in the US

Sports betting was not always illegal in the United States, in fact, many states were moving towards establishing land-based sports betting options back in the 1980s. By 1992, the interest had grown considerably enough to spark the attention of lawmakers of four of the major sports leagues. This led to a proposal sponsored by Sen. Bill Bradley (D-N.J.) that essentially prohibited states from issuing new sports betting licenses or permitting sports betting activities. The bill was passed and came to be known as the Professional and Amateur Sports Protection Act, or the Bradley Act. While PASPA offered exemptions to Delaware, Montana, Oregon, and Nevada, the latter is the only state that permits full-scale sports betting. Even with PASPA in place, there was an estimated $9 billion spent on March Madness in 2016 and the amount steadily increases each year. When you factor in the Super Bowl and other major sporting events, US bettors contribute to anywhere between $150 billion and $400 billion in sports betting per year. With the revenues that continue to go into betting on sports, attitudes have started to shift and more opinions are leaning toward a repeal of the Professional and Amateur Sports Protection Act.

“I believe that sports betting should be brought out of the underground and into the sunlight where it can be appropriately monitored and regulated.” – Adam Silver, NBA Commissioner

CEI Believes Sports Wagering Should Be Legal

The Competitive Enterprise Institute, a libertarian public policy group based out of DC, recently issued a report outlining why Congress should put an end to the federal sports betting ban. The reports list several arguments for legalization, most notably how the law itself is a violation of the 10th Amendment. CEI states that PASPA interferes with a states’ rights to revise their laws, which goes against the anti-commandeering doctrine. Furthermore, polls have shown a growing support for adults that favor legalizing sports betting within their state. As with everything else in the world, it all comes down to numbers, and the CEI even has that angle covered. Looking back in history, there was a point where illegal bookmakers were raking in over $200 million per year. According to projections by the GamblingCompliance research firm, the US would be able to make an estimated $12.4 billion in yearly revenue with a widespread regulated sports betting market.

Future Outlook For Legalized Sports Betting

The Competitive Enterprise Institute is just one of many organizations looking to further the development of legalized sports betting in the US. New Jersey has been working toward establishing land-based sportsbooks for years, and is currently awaiting a Supreme Court decision. There are also more leagues in favor of legalization, with National Basketball Association Commissioner Adam Silver being vocal about his support. Rob Manfred, Commissioner of Major League Baseball, has also voiced his consideration for the repeal. There have even been talks of the Trump administration working with the American Gaming Association on gambling reform. The path to legalized sports betting has been an arduous one, however there is no denying that the tides are starting to change.

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