Institute Argues to End Sports Betting Ban
The Competitive Enterprise Institute released a report Thursday arguing for the end of the federal sports betting ban. Titled “Time to End the Madness around March Madness,” the report said that support for legal sports betting is growing. West Virginia, Maryland, Pennsylvania and Michigan have all introduced bills to legalize sports wagering this year. Others are expected to follow suit. States are quickly passing Daily Fantasy Sports legislation, which is closely related to sports betting.
Even sports commissioners are changing their tune. The NBA’s Adam Silver supports regulated sports betting. Baseball Commissioner Rom Manfred is believed to be falling in line with Silver and Gary Bettman has placed a team in Las Vegas.
The Competitive Enterprise Institute is a Washington, D.,C, libertarian think-tank. Its report argues that the Professional and Amateur Sports Protection Act encourages corruption and fixing.
“The tools to address problem gambling and spot suspicious betting activity exist as countries with legal gambling have demonstrated,” it stated. “But, without a legal market where operators are incentivized to work with authorities and protect vulnerable consumers, there is little opportunity to employ them.”
The report also echoes the statements of others who support legal sports betting. It would produce revenue, spark business and create some new jobs.
“Legalizing sports betting would produce substantial social and political benefits by exposing billions of dollars in economic activity to the sunshine of legitimacy,” the report said. “Decriminalization would renew respect for the law by individuals who see gambling on sports as a valid form of entertainment for adults.”
It’s no coincidence the report was released with the NCAA Basketball Tournament just around the corner.
“Despite the prohibition, Americans spent an estimated $9 billion on the 2016 NCAA Men’s Basketball Tournament,” it said.
The battle to allow legal sports wagering will likely continue for some time.
