Would Legalized Sports Betting Hurt Las Vegas?

If legal sports betting were to start in places such as the California Indian casinos or other places across the U.S. would it hurt the Vegas strip or Nevada sports betting industry as a whole.

If it were to happen, it certainly would not happen overnight, but the idea of expanding gambling to other places besides just Nevada has gained renewed strength of late.

The commissioners in three of the four major U.S. sports leagues in the U.S. led by Adam Silver of the NBA said legalizing sports betting would eventually need to be looked at by the governing bodies of each league.

The American Gaming Association based in Washington wants its membership to decide what the best course is to take on the issue.

A legislator in Minnesota has introduced a measure to make sports betting legal in his state. However, the Professional and Amateur Sports Protection Act or PASPA, makes the discussion at this time moot.

PASPA, which Congress approved in 1992, confines sports wagering to Montana, Oregon, Delaware and Nevada. However, unlike Nevada with its multimillion dollar sportbooks that are ultra high tech. the three other states offer only betting at a small stakes level through a lottery or parlay cards.

Short of a repeal of PASPA by Congress, the Supreme Court would have the final say on any other U.S. states having sports wagering.

New Jersey has fought for three years trying to legalize sports betting for its casinos in Atlantic City and at racetracks to help the state gaming industry that has been in decline.

In November, a federal judge blocked the effort by New Jersey although supporters are hoping an appeals court will hear the issue this year.

Sports betting supporters in Minnesota want to make a challenge against PASPA saying the state has both racetracks and casinos and has used gambling revenues to construct a new NFL stadium for the Minnesota Vikings.

The discussions are centered around money, the states want to fill their budget gaps with taxes on sports wagering, while the sports leagues could also demand their share.