The American Gaming Association (AGA) has announced that it will spent 2016 trying to find a “rational alternative” to existing American sports betting law.
In US gambling news , there has been a significant shift in the casino industry’s stance on gambling on sports. The AGA is not looking for an outright legalization of sports wagering—which is currently only legal in four states—but is seeking to create a coalition that is charged with finding a suitable alternative to current American sports betting law.
According to the association, the alternative would include “strict regulation, rigorous consumer protections and…robust tools for law enforcement” that would put an end to illegal sports betting activities. The effort will include research, communications, and lucrative partnerships with casino executives, legislators, lawmakers, regulators, law enforcement, and sports leagues.
The coalition is a new part of the AGA’s fight against illegal sports gambling. Black market sports betting is an estimated USD 138.9 billion industry connected to and suspected of funding criminal activities.
Illegal wagering more of a threat to casinos than alternative American sports betting law
The casino industry is largely in favour of the AGA’s proposed coalition, believing that illegal sports gambling is more of a threat to land-based casinos than the legalization of sports betting in other states. MHM Resorts International and AGA board chairman Jim Burren commented on this new development in American gambling laws : “I’m confident that the entertainment experience we provide in Las Vegas, which is unmatched anywhere else in the world, can continue to excel even as our country takes a fresh look at our approach to sports betting.”
The AGA’s change of heart came following discussions with casino operators, gaming industry suppliers, and sports book operators across the country. As a result a Sports Betting Task Force was created, the unanimously agreed that the existing sports betting law is not achieving its intended goals.
“The culmination of a thorough process within our industry positions us to work with a wide variety of stakeholders who agree that rampant, unregulated and illegal sports betting is a threat to consumers and the sports we enjoy,” said AGA President Geoff Freeman in a statement. “The casino gaming industry is aligned that the status quo is unsustainable. We look forward to working with law enforcement, sports leagues, and other interested parties to consider effective approaches to protecting consumers and the integrity of sports.”