The Future of Sports Betting; Interview with AG Burnett – Pt II
Casino and Gambling News, May 30, 2018
By Lars Jones with additional reporting by K. Morrison
This is part two of a two-part series wherein we interview AG Burnett, former Chairman of the Nevada Gaming Control Board (NGCB) and now a partner in the Gaming & Administrative Law Group McDonald Carano.
In Part I, we introduced Mr. Burnett and got his thoughts and feelings on a number of issues including:
- A single national sports betting law, or state-by-state
- Regulator integrity in a political climate
- The wisdom of creating new regulatory bodies for sports betting
World Casino News (WCN): The four segments of legal casino gambling industry in the US [not counting sports betting or lottery tickets], already generate annual revenues in excess of $70 billion. The American Gaming Association estimated that Americans wager roughly $154 billion a year on sports illegally. Considering the extent of the market that operates offshore and on the street, what would be the incentive for online operators and illegal bookies to come in from the dark and work under federal or state regulators?
AG Burnett (AG): There is a great burden to overcome when one has to get a state gaming license. The investigations are thorough and in-depth; the ongoing requirements post-licensure are strict. When an already-existing black market business is regulated, you’ve got two choices, don’t you? Either come in from the cold and get a license, or go back into the shadows and disappear. The illegal bookies and offshore non-licensed operators have that choice. Regulation means the illegal operators eventually become extinct, or so small that they might as well be.
(WCN): While there’s really no way yet to project how much of the billions currently bet underground and flowing offshore can be captured for state or federal revenues, do you have an opinion on how that money should be spent in regard to funding regulators? To read entire article click here.
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