Federal Sports Betting Coalition Launches to Unleash $516 Million for Maryland’s Economy
American Sports Betting Coalition to Advocate for Economic Gains in Maryland
By PRESS OFFICER
Washington, D.C.—A legal, regulated sports betting market could bring as much as $516 million in economic output to Maryland’s economy, support up to 2,655 jobs and generate up to $105 million in tax revenue, according to new research by Oxford Economics recently released by the American Sports Betting Coalition (ASBC) and American Gaming Association (AGA). The new research comes just as the Supreme Court (SCOTUS) has decided to hear the challenge to the federal sports betting ban.
Across the country, legalizing sports betting in the United States would curb a conservatively estimated $150 billion illegal market while supporting up to 152,000 jobs, creating an estimated $26 billion in economic output and generating up to $5.3 billion in tax revenue.
“Congress has a responsibility to fix the 1992 sports betting ban that’s failed,” said Geoff Freeman, president and CEO of the AGA. “Lifting the sports betting ban has the potential to unleash millions for Maryland’s economy, while adding thousands of jobs and millions in tax revenue.”
The ASBC, launched by the AGA, will advocate to end the 25-year-old failing federal ban on sports betting known as the Professional and Amateur Sports Protection Act (PASPA). PASPA prohibits sports betting outside Nevada.
The ASBC will lead an all-inclusive advocacy campaign focused on ending PASPA. It brings together law enforcement officials, states rights’ advocates, policymakers and industry leaders - all of whom believe that it’s time to legalize and regulate sports betting in America. This diverse group of stakeholders is critical to pushing for legislative action in Washington which is the first piece of the puzzle. Ending PASPA means states can then decide if they want to have sports betting or not.
Sports betting’s popularity is soaring to new heights. Fifty million Americans bet on Super Bowl 51 this year and fans wagered more than $10 billion on the NCAA men’s basketball tournament in March. However, only a small fraction of that $10 billion—less than 3 percent—was wagered legally.
A recent AGA-commissioned national survey by Greenberg Quinlan Rosner (GQR) found strong national support for legal sports betting. Nearly six in ten Americans—and 72 percent of avid sports fans—are in favor of ending the federal ban.
Support is particularly strong among Washington Redskins fans. According to a recent Morning Consult poll, 58 percent of Redskins fans support lifting the federal ban on sports betting, and think their state, not the federal government, should decide whether to allow sports betting within state borders. The enthusiasm for legalizing sports betting far outweighs fan concerns—just 17 percent of Redskins fans said they would not support legalizing sports betting.
In an illustration of the unprecedented momentum and broad support among fans and the general public, eight states have introduced sports betting bills in 2017 despite the federal prohibition: Pennsylvania, Michigan, South Carolina, New York, Maryland, Oklahoma, West Virginia and Connecticut.
Learn more about the ASBC at http://www.sportsbettinginamerica.com/.
About AGA: The American Gaming Association is the premier national trade group representing the $240 billion U.S. casino industry, which supports 1.7 million jobs in 40 states. AGA members include commercial and tribal casino operators, suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to be the single most effective champion of the industry, relentlessly protecting against harmful and often misinformed public policies, and paving a path for growth, innovation and reinvestment.
About ASBC: The American Sports Betting Coalition (ASBC) is a collection of a diverse group of stakeholders dedicated to ending the 25-year-old failing federal sports betting ban. The ASBC unites law enforcement, states rights’ advocates, state and local policymakers and gaming industry leaders. This group demonstrates that the desire to legalize and regulate sports betting is widespread and its formation is a critical component of providing Washington with the impetus to take action.
TOP OF PAGE