Regulation of the gambling and sports wagering industry have been a hot topic. Even more so that the distinct lines between the two operations have been blurred to accommodate both activities rather readily. Casinos are no longer just the bastions of poker tables, roulettes and slot machines. There is quite a fair bit that’s currently going on with the industry and this encompasses everything from gambling through poker and sports betting. The American Gaming Association (AGA) has made a vehement case against the regulation of sports betting during a House Judiciary Subcommittee hearing.
American Gaming Association (AGA) vs the Industry Nabobs
AGA’s demands are not really self-serving. The independent regulatory organ has been appealing to the better nature of lawmakers, time and again, asking them to re-consider any laws that they may want to apply on the current state of the sports betting industry. The facts, according to AGA Vice President for Public Affairs Sara Slane, are quite simple – there is no need to burden the industry with unnecessary provisos.
She has a point. Nothing merits to introduce a new ream of laws that are difficult to apply on a country level. Only a ban has the power to strike across multiple states, especially where the gaming and iGaming industries are concerned. With this in mind, any new law that could potentially be adopted would most likely be restrictive in nature, leading to little actual results.
It seems a bit wasteful, too, having to slap sports betting, for example, with a number of new regulatory measures, must when New Jersey reportedly spent $8 million fighting the nation-wide ban. Slane is firmly opposed the action while still acknowledging, during her Subcommittee meeting, that AGA has kept the industry accountable to the highest standards.
Those Opposed, Raise Your Hands
There have been a handful of individuals who stood up to argue against the possible pernicious effects of failing to introduce a nation-wide legislation that brings all operators under the same standards in a very specific way. As one person commenting on the Committee hearing said, the congressmen had little to no idea, in most cases, how the industry works.
Put on paper, the idea of regulating the industry further will find a strong support. Jocelyn Moore, NFL’s executive, took the opportunity to argue that the states do indeed need to regulate the sports betting industry better but only in accordance with a better-established centralized regulator. An opinion that was shared by Senate Minority Leader Chuck Schumer.
Slane did say that she is prepared to assist in establishing a common framework by commenting:
The AGA is unwavering in our commitment to continue a constructive dialogue on sports betting with all stakeholders. I hope to engage in a productive discussion at the hearing with members of the subcommittee and serve as a resource for anyone considering statutory or regulatory policies to govern sports betting.”
Still, AGA should try and convey its message as vehemently as possible over-regulation is never the answer is what that message should say.