How the New President Could Influence Sports Betting Laws

How Donald Trump Could Influence Sports Betting Law
The inauguration of President Donald Trump created some pretty big waves in the political sphere. This is just the start of the changes that he could make to our American day to day life, with one big hot button issue already being debated. The legality of sports betting could be reassessed under the rule of President Trump, something which could be interesting for sports fans.
The speculation surrounding legalising sports betting comes from the fact that Trump is a big player in the gambling industry. This means he has the connections and friends within the industry that will be looking for an overall legalisation of gambling. Only four states are able to offer this and other types of gambling; Nevada, Delaware, Montana and Oregon.
Big proponents of legalised sports betting point towards the taxation of the industry as a draw for legislators. Regulation can be labour intensive but there are massive profits to be made by the government on this industry. This type of betting has been illegal since the 1990s and some are saying that the US government has lost out on billions of lost revenue.
As with any illegal activity, there are underground and illegal gambling rackets going on to this day. The US Gaming Association speculates that more than $150 billion is placed in illegal bets, which can then go on to fund other illegal activities. This actually harms the country, as more people are victims of fraud and the funds can end up in the hands of criminals.
This all ties in with Trump’s plans to cut taxes too, as this was a huge platform within his campaign. To do this, he would need to find money elsewhere, perhaps by taxing a newly legalised industry. If we look at economies like the UK, their regulation and taxation of bingo sites means that they can earn off the back of the operator. While players can choose to play in different territories UK players prefer local bingo sites with names that they know and trust, who then feed money back to the government.
Although we’ve not had comment from the presidential team since the inauguration, Trump has historically been pro gambling and pro sports betting. In 2015, he stated that he was OK with the concept and that it was happening under the radar anyway. Fantasy sports leagues are some of the most common ways to get around the illegal aspect of sports betting but the government are spending a lot of money to stamp this out too.
There are bills coming into force from various states to legalise this form of gambling, so we may see some big changes in the following year. It’s simple supply and demand, as more citizens want to be able to bet on college football matches. The stigma around sports betting is no longer as prevalent, as people are more open and in favour of playing on these games. Perhaps one day we’ll look back on the illegality of sports betting with the same distain that we look back on prohibition with.