Inside Asian Gaming

INSIDE ASIAN GAMING JULY 2018 44 GAMBLING AND THE LAW do well for years. It will take months and in some cases years for new state laws and regulations. Meanwhile, more and more people will be hearing about the coming wave of legalization. It should be easy for Las Vegas to capitalize on the growing interest in wagering on sports events. Eventually Nevada will be hurt by nationwide competition. Why drive five hours to make a bet if a local sportsbook is down the block, or available by phone or computer? Fantasy sports is already taking a big hit. In Europe, it never really got off the ground, because there was real sports betting. Illegal bookies may see an increase in business in states that have not yet legalized. Underground operators don’t have to pay state fees and taxes, although the smarter ones do pay the federal excise tax. They can offer bettors easier credit. But I think the legal books will prevail, assuming they do not have to give all of their profits away in an “integrity fee” to the leagues. Legal books will be able to cut some of their expenses when they are given the right to take bets by computer. They also will be able to advertise, including on TV and online. Some big bettors may stick with off- shore operators who will not report their big winnings to the IRS. But most casual bettors will prefer licensed operators, where they know they will get paid. MANY QUESTIONS REMAIN Which states will be first? My money is on Delaware, since it had straight-up sports betting that it stopped only because federal courts said it was limited to parlay betting under the now-discredited PASPA. But other states, including New Jersey, Pennsylvania and West Virginia, have passed innovative contingency laws, which made sports Will US territories such as the Northern Marianas Islands, home to Imperial Pacific Resort in Saipan, be able to offer sports betting?