A recent estimate found that if sports betting were legalized nationwide, Gross Domestic Product would increase by $11.6 billion and more than 125,000 jobs would be created. A new Reason Foundation policy brief examines the growing acceptance sports betting, the negative black market effects of today’s prohibition, the potential benefits of legalizing sports gambling, and the constitutionality of the Professional and Amateur Sports Protection Act (PASPA), which Congress passed in 1992 to prohibit most states from legalizing sports betting.
The new brief notes that 14 states have taken steps towards legalizing sports gambling. The U.S Conference of Mayors adopted a resolution calling for the legalization and regulation of sports betting. And the commissioners of the National Basketball Association, Major League Baseball, and Major League Soccer have signaled an openness to legalized sports gambling.
The full brief is available online at:
A Bet Gone Bad: How the Professional and Amateur Sports Protection Act Harms Consumers, States and Sports
Removal of PASPA’s prohibition on the legalization of sports betting would have many advantages.
By Julian Morris and Guy Bentley