GMA: SCOTUS Overturns PASPA, Opens Door to Legalized Sports Betting

LAS VEGAS, May 14, 2018 /PRNewswire/ -- Global Market Advisors (GMA) applauds the repeal of the Professional Amateur Sports Protection Act (PASPA) in today's ruling by the United States Supreme Court in Murphy v. NCAA.  States and gaming tribes can now move forward with legislation to allow their customers to place their bets legally.   

"This is first and foremost a victory for states' rights but also for the overall gaming industry," said John English, Managing Director of Sports and Technology at GMA.  "However, there are many states that will see no benefit from sports betting legislation due to the passage of onerous tax rates and/or 'integrity fees' paid to the sports leagues that will preclude legal operators from competing effectively with the rampant illegal bookmakers strewn across the United States.  One of the greatest opportunities may lie with Native American gaming tribes who pay much less in gaming taxes and are not as susceptible to the political need to work with the leagues."

Some of the professional and amateur sports leagues that have opposed sports betting for over 25 years have taken a new approach, asking for an integrity fee as part of any legalization of sports betting.  This fee has asked for in some cases as much as 20 percent of the operating revenue from sports betting.

"Integrity exists in the games due to proper regulation and oversight by legal sports books, not through a money play by sports leagues.  States should not be bullied, as the Governor of West Virginia recently has been, by the sports leagues.  The leagues will benefit financially from the expansion of sports betting due to the increase in viewership and interest that stems from the influx of new, legal sports betting participants," said Brendan Bussmann, Director of Government Affairs for GMA.

A more detailed brief on the United States Supreme Court's decision and detailed white papers and articles on the subject can be found in GMA's research library. 

About Global Market Advisors, LLC
Global Market Advisors (GMA) is the leading hospitality consulting firm serving the gaming, sports betting, integrated resorts and lodging industries.  The firm maintains active clients in Asia, North America, and Europe with offices in Las Vegas, Denver, Taipei, and Bangkok.  More information can be found by visiting www.globalmarketadvisors.com.

Contact
Gerard Parisi
303-759-5944
gparisi@globalmarketadvisors.com

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SOURCE Global Market Advisors, LLC