U.S. Supreme Court To Rule On Legal Sports Betting
The U-S Supreme Court If the ban is overturned, a report says that Louisiana could be one of 18 states to file legislation to regulate sports betting...
Managing Director at Eilers and Krejick Gaming Chris Grove says his firm analyzed the different gaming players in Louisiana.
“We do expect that this will be a product that is controlled by the river boats in Louisiana, the casino operators.”
Louisiana’s legislative session begins in March, but there has not been any indications that a lawmaker is planning on filing a bill to legalize a bill in the state. Grove says placeholder legislation could be filed, while they wait for one of the three possible outcomes from the Supreme Court hearing.
“most people see three paths, either the supreme court upholds the status quo, the supreme court rules very narrowly, or the court could rule more broadly that PASPA (Professional and Amateur Sports Protection Act) is unconstitutional.”
Sports gambling is a 225 million dollar taxable industry in Nevada, and Eilers and Krejick estimates that two point five to three billion dollars in illegal bets are placed every year. Grove says legalizing betting in Louisiana would be a budgetary and consumer safety boon.
"The argument goes that you are basically taking activities that are in a black market and you are moving them over to a regulated market where they can be taxed."