Thursday, November 12, 2015 : AGA WEIGHS IN ON U.S. REGULATION OF SPORTS BETTING AND DAILY FANTASY SPORTS
Need for shift in industry approach.
The American Gaming Association’s (AGA) Board of Directors weighed in on the issue of daily fantasy sports (DFS) regulation and the industry’s approach to sports betting with a set of recommendations it says will mark a major shift in the industry’s approach.
Recommendations include the building of a broad coalition to determine whether a rational alternative to current sports betting law exists which might include strict regulation; rigorous consumer protections; and
robust tools to help law enforcement eliminate illegal sports betting and strengthen the integrity of games.
On DFS, the AGA wishes to see the product succeed but agrees prerequisites need to include legal clarity state-by-state and rigorous consumer protections .
“As we move forward, the AGA will work with law enforcement, sports leagues and other interested parties to consider effective approaches that protect consumers and the integrity of sports,” an AGA press statement reads.
“The recommendations reflect broad industry consensus and were developed by leadership from the industry’s casino operators, suppliers and sports book operators in Nevada and across 40 states through a Sports Betting Task Force, which unanimously agrees that current law is not achieving its intended result.”
Chairman of the AGA and MGM Resorts International chairman and chief executive officer Jim Murren supports the view of a wide variety of stakeholders that “rampant, unregulated and illegal sports betting is a threat to consumers and the sports we enjoy.”
“As the head of the largest private sector employer in Nevada, I’m confident that the entertainment experience we provide in Las Vegas – which is unmatched anywhere else in the world – can continue to excel even as our country takes a fresh look at our approach to sports betting,” Mullen said.
The AGA estimates illegal wagering in the U.S. reached $140 billion this year alone.
The organisation said its 2016 push will include robust research, aggressive communications and partnerships with a variety of interested parties in sports betting, including gaming leaders, law enforcement officials, regulators, legislators and professional sports leagues.