According to the American Gaming Association, U.S. residents will spend nearly billion betting on the Super Bowl with illegal bookies and websites. This year’s game between the Seattle Seahawks and the New England Patriots will be played on February 1 in Glendale, Arizona.
In contract to the $3.8 billion wagered illegally on the game, only about $100 million will be bet legally at Nevada sports books.
“Current law banning sports betting is clearly failing,” said Geoff Freeman, president and CEO of the AGA. “The AGA is closely examining the current state of sports betting, the laws that govern it and the best way forward for the gaming industry.”
Freeman announced the numbers during a keynote speech, “Gaming—What it Means for America’s Cities,” at the U.S. Conference of Mayors’ 83rd Winter Meeting in Washington, D.C.
The AGA was reacting to new guidance from the Financial Crimes Enforcement Network (FinCEN), concerned about money laundering at sports book. The organization at that time pointed out that illegal wagering dwarfed legal betting in the U.S.
Meanwhile, two New Jersey Congressmen, Reps. Frank A. LoBiondo and Frank Pallone, Jr., have again introduced their bills to legalize sports-betting.
The congressmen called for action on their legislative proposals, arguing that legalized sports betting will benefit New Jersey’s economy and crack down on criminal enterprises, which operate off-the-book betting in the shadows.
“Increasing competition from neighboring states and the proliferation of off-the-books betting has left Atlantic City’s gaming operations at a disadvantage,” said Congressman LoBiondo. “Sports betting can help give our famed resort town a hand up, providing yet another unique option for patrons in addition to the quality entertainment, dining, shopping and beaches. I’m pleased Congressman Pallone, our casinos, local elected officials and an overwhelming majority of New Jersey residents agree and hope that a bipartisan coalition in Congress can come together in support of legalizing and regulating sports betting.”
“New Jersey voters have spoken loud and clear: they want to be able to place wagers on sporting events legally,” said Congressman Pallone. “We know that sports betting is occurring without regulation and that the revenues from it are going to illegal enterprises rather than businesses in New Jersey, like our casinos and racetracks. It is time to bring this activity out of the shadows and allow states to regulate it.”
In 2011, New Jersey voters overwhelmingly approved a ballot measure to allow sports wagering in New Jersey, but its enactment has been delayed by lawsuits filed against the State of New Jersey by the NCAA and four professional sports leagues.
