Earlier this week, we released our annual estimate on how much Americans will wager on the Super Bowl, this year topping $4.76 billion. Due to the failed Professional and Amateur Sports Protection Act (PASPA), a staggering 97 percent of total wagers, equaling more than $4.6 billion, will be bet illegally across the United States.
That leaves only three percent, or $138.5 million, of Super Bowl bets that are expected to be legally wagered through licensed sports books in Nevada.
This Spring, the U.S. Supreme Court will issue a ruling on Christie v. NCAA. That decision on the failed federal sports betting ban could create an opportunity for next year’s Super Bowl to be the first with widespread, legal sports betting.
AGA has continued to engage stakeholders in the important debate, raise the profile of PASPA’s failings and call for sensible change to this bad federal prohibition. While this week’s media engagement yielded a significant amount of national news coverage (sample below), what strikes me is how drastically the tenor of the content has changed since we first began this effort two years ago. No longer are journalists, talking heads, legislators, regulators, leagues, owners, etc. talking about what would happen if we enabled legal sports wagering – they are either talking about when it happens, or have moved past timing entirely to discuss how this will play out.
There are currently 29 active pieces of sports betting legislation in 15 states, and judging by how quickly states and tribes are getting prepared to offer sports betting should PASPA be overturned, those numbers will most certainly increase throughout current legislative sessions.
For over 25 years, PASPA has empowered an illegal sports betting market full of shady offshore operators and corner bookies managing at least $150 billion annually. While there will be a lot of negotiation about what a legal framework looks like, we all agree on this fundamental goal: we need to drive the illegal market out of business.
It’s clear that the federal ban on sports betting has failed, and it’s time for a change.
The Supreme Court will issue a ruling on Christie v. NCAA, the challenge to the federal sports betting ban, this Spring, and we will continue to keep you apprised of any developments.
