Harris said protecting the integrity of sports is of utmost concern, and that’s why regulated books are in everyone’s best interest.<\/p>\n
\n“Sports betting scandals are more likely to occur in illegal markets where there is no regulatory responsibility, where monitoring betting patterns is of no concern, and were line movements may not matter,” Nevada’s chief gaming regulator testified.<\/p>\n<\/blockquote>\n
Harris added that states would be wise to consider Nevada’s sports betting regulations, which can “help guide other jurisdictions through this historical time.” She concluded that state gambling regulators are more than equipped to oversee sports betting without additional federal governance.<\/p>\n
Bettors Want Better Odds<\/b><\/h2>\n
Subcommittee Chair Jim Sensenbrenner (D-Wisconsin) asked the panel, “If I were running around with a fistful of money that I wanted to bet, where would I go when the illegal sportsbook is offering all of these other goodies that a legal sportsbook cannot?”<\/p>\n
Slane responded, “You hit the nail on the head. Sports betting is a low margin business, so in order for us to compete with the illegal market there has to be the policies in place that allow us to offer competitive odds and drive traffic to our legal sites.”<\/p>\n
\n
Slane added that 70 percent of bettors who currently access illegal sportsbooks say they would gamble on legal sites if the odds were the same. The AGA rep finished by stating overburdensome tax rates and an unneeded federal regulatory layer will prevent sportsbook from offering odds that compete with those found on illegal books.<\/p>\n<\/div>\n
At the end of the hearing, Rep. Sensenbrenner strangely concluded, “I think all of you can agree, is that for Congress to do nothing is the worst possible alternative. So, we have some work to do.”<\/p>\n
He then adjourned the sports betting hearing.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sports betting was the topic of discussion at today’s hearing in the House of Representatives’ Judiciary Subcommittee on Crime, Terrorism, Homeland Security, and Investigations, and gaming industry experts testified that an overly regulated market will only allow underground and offshore illegal sportsbooks to thrive. Five witnesses provided their respective expertise, and opinions, to the House […]<\/p>\n","protected":false},"author":25,"featured_media":89168,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,13592,16,1074],"tags":[],"acf":[],"yoast_head":"\n
Sports Betting Experts Warn Regulations Will Propel Underground Bookies<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n