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UTEP Incident Could Prove Detrimental for Further Sports Betting Legalization
Author: Scarinci Hollenbeck, LLC
Date: February 7, 2014
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Wagering on amateur and professional sports is illegal in the majority of the U.S. with only Nevada having widespread betting.
However, some states – especially New Jersey – have made a push for legalized sports betting, but have yet to be successful.
A recent incident at the University of Texas at El Paso probably won’t help the case for any state attempting to legalize wagering on sports. Following an FBI investigation, three UTEP men’s basketball players were kicked off the team after it was found they gambled on sporting events.
This has been one of the biggest reasons that the NCAA and professional sports leagues are adamant about keeping betting illegal across the U.S. However, it appears as though there are no indications of point shaving, as the three UTEP players were not betting on their own games.
“To date, there is no indication of point shaving,” UTEP Executive Vice President Richardo Adauto said at a news conference. “They were not betting on UTEP games.”
Legalizing Sport Wagering
With more fuel available for critics, it is likely going to be an even bigger uphill battle for supporters of legalized sports betting. But, there are many advantages to be had. For example, if properly regulated, states could use this type of wagering to help boost tax revenues, which could be beneficial for many states struggling with their budget, such as New Jersey.
Of course, the most important thing to note is that betting is regulated. One possible plan could be to use the same strategy New Jersey used with its other online gaming ventures – partner with a casino that is already in business.
It should be interesting to see where the conversation moves on legalized sports wagering, as there seems to be new developments every month.
- Industries: Entertainment & Media
- Locations: Red Bank, NJ, New York City, Little Falls, NJ
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