WVU Economics professor discusses legalizing of sports betting in the U.S.

Monongalia

On May 14, the Supreme Court of the United States ruled that The Professional and Amateur Sports Protection Act was unconstitutional.

PASPA regulates betting on professional and amateur sports and outlaws betting on sports everywhere in the United States except in the State of Nevada.

A West Virginia University Economics professor said that it is hard to tell whether this new ruling will affect the economy.

States can now choose to legalize sport betting if they want to, or maintain the status quo of no legal sports betting.

A main reasoning for legalizing the gambling is to be a source of tax revenue.

He says that the size of these revenues is difficult to estimate without concrete information on how much will be bet in a state.

“Here in West Virginia, the legislature has already passed a law in anticipation of this court decision coming which will make sports betting legal in West Virginia. Now we could be one of the first states to offer legal sports betting outside of Nevada,” said Brad Humphreys, WVU Economics Professor.

Legal betting in West Virginia would take place in existing casinos and race tracks.

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