11 States Expected to Pass Gambling Legislation in 2018

Scotus

The SCOTUS will decide by June 30 (likely in April or May) if it will overturn a federal ban prohibiting single-game sports betting in every state but Nevada. According to a new report by Eilers & Krejcik Gaming, should that occur, 18 states would look introduce sports better legislation before the end of 2018; with the expectation that bills would pass in 11 of them. The firm believes that upwards of 30 states will ultimately pass sports gaming laws, citing David Schwartz’s (director, Center for Gaming Research, UNLV) observation that there’s a “historical trend of states turning more to gambling”.

Howie Long-Short: Tax revenue is driving states to draft gambling legislation, but even if a state passes their bill prior to the SCOTUS issuing its decision on Christie vs. NCAA; this isn’t a plug and play situation (i.e. casinos aren’t opening a sportsbook the next day), hurdles remain. Brett Smiley, the Editor and Chief of SportsHandle, reminded a giddy Fan Marino “sportsbooks will still have to find quality personnel, including experienced sportsbook directors; which are in limited supply. There must be the right infrastructure, sensible rules and regulation; integrity monitoring, software, employees who understand it, and of course a tax structure that won’t doom the sportsbooks (i.e. 35% in PA) before they take their first bet.” In other words, don’t expect to be placing early season baseball bets at your local casino.

Fan Marino: If a bettor picks the winner of six horse races in a row, he/she is said to have hit a “Pick-6”. On December 29th at Gulfsteam Park, a bettor won 5 races in a row and appeared to be closing in on the 6th (and $571,744 in winnings); with his horse pulling away as it approached the finish line. What happened next, you must see to believe.

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Author: John Wall Street

At the intersection of sports & finance.

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