The National Gambling Impact Study Commission, in its final report to Congress, estimated American’s bet as much as $380 billion per year on sports, making it by far the largest form of illegal wagering, and that report was released in 1999. With the growth of the Internet and technology, there is no doubt that these staggering figures are far larger today. Based on the current structure, 99% of sports gambling continue to operate untaxed and unregulated in defiance of state and federal law. The time has come for the United States to repeal the Professional and Amateur Sports Protection Act of 1992 (“PASPA”) and develop modern laws to regulate the sports gambling industry and cash in on the billions of dollars it generates in revenue.
Gamblization: The Rise of Sports Gambling and the Need to Repeal PASPA,
7 Pace. Intell. Prop. Sports & Ent. L.F.
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