American Gaming Association says legalised sports betting will increase GDP, create jobs
News on 7 Sep 2017
News on 7 Sep 2017
The American Gaming Association continued its nation-wide campaign for the repeal of the restrictive Professional and Amateur Sports Protection Act this week, using its amicus brief supporting New Jersey’s US Supreme Court appeal as a vehicle for further publicity.
“A legal sports-betting industry could generate up to $26.6 billion in total economic impact every year though GDP increases, tax dollars, and over 150,000 well-paying American jobs,” the brief claimed, pointing out that over $5 billion in tax revenue would be generated.
And in twitter posts the AGA claimed: “Legalizing #sportsbetting nationwide would increase gross domestic product by $11.6B-$14.2B and create 125,000-152,000 new jobs…”
The Association labelled PASPA as “perverse” in its 26-page brief, noting that by prohibiting sports betting in all but four US states the federal measure drives sports punters to illegal underground operators, where they spend most of the estimated $150 billion wagered annually.
The brief notes that the US sports betting market was worth around $40 billion when PASPA was introduced in 1991, and its massive illegal growth since then is an indicator that the legislation is in need of review.
