Gambling on sport: Policy issues

The most significant public policy issue associated with sports betting is legalization. Supporters of legalization rest the bulk of their case on the economic benefits the state can experience. They also assert that legalization will have a major negative impact on the extent of illegal gambling. Those who are against further legalization, particularly amateur and professional sports leagues, the horse race industry, and legal bookmakers, point out that sports wagering is not very profitable and is very risky for the operator. Furthermore, legal wagering will be unable to compete effectively with the price of illegal operations. It is highly likely that the recently introduced federal legislation, S.474, Professional and Amateur Sports Protection Act, prohibiting further legalization of sports betting will be enacted.