Over the last two years, we covered the subject of legalized sports betting in several articles:
- The Changing Face of Sports Betting in America (10/15/2015)
- Update on Daily Fantasy Sports Regulations (07/18/2016)
“The federal deficit has hit $20 trillion. Entitlement spending continues to grow… President-elect Donald Trump has proposed a $1 trillion infrastructure plan while promising to reduce marginal tax rates on individuals and businesses. Meanwhile, states and cities are bumping up against their own fiscal issues, especially in regard to pension obligations. Gambling revenue becomes increasingly attractive as a solution to budget challenges… The $70 million Colorado raised in 2015 from taxing marijuana sales has shown states that there is genuine economic benefit to legalizing and taxing activities that otherwise law-abiding citizens enjoy in private.
…There’s no reason to believe that expanding prohibition is on his agenda, or that [Trump] would be opposed to greater liberalization, especially if it can create or increase revenue streams for his economic agenda.”
“Despite legal restrictions, sports betting is widespread,” wrote Silver. “It is a thriving underground business that operates free from regulation or oversight. Because there are few legal options available, those who wish to bet resort to illicit bookmaking operations and shady offshore websites.”
“we’ve changed. This idea that sports betting somehow needs to be regulated in one state and illegal everywhere else really doesn’t reflect what’s happening today… people love to bet on sports and they love their daily fantasy sports.
…To drive this all in the underground, and wish it away, or don’t allow it to be transparent and regulated is wrong. And I am going to work with the American Gaming Association and my colleagues on this.
And not everyone agrees with me on this topic. But my view is — and I hope to speak to the President-elect and to Congress on these topics — let’s regulate, and let’s be consistent in our regulation and give the American public what it wants, which is this transparent and seamless connectivity between bricks-and-mortar gaming and other forms of gaming that are completely safe, if they’re regulated.”
Whether or not Trump will champion the movement is still up for debate. Many claim the choice of Jeff Sessions as Attorney General makes it seem unlikely. As a Senator, Sessions battled against online gambling in 1997, but seemed to ease-off the issue over the following decade.
But – Steve Norton, casino consultant who worked for Trump in the 80’s, told DailyProgress.com that he predicts Trump will support an end to the national prohibition for economic reasons, while leaving Daily Fantasy Sports (DFS) regulation up to individual states.