CNBC – As another casino in Atlantic City, N.J., plans to near its doors, some believe allowing sports betting could help invigorate a struggling industry.
Most states don’t allow wagers on sporting events, way to a federal ban. In Nevada, where sports gambling is legal, it accounts for $4.25 million of the $11.2 billion in statewide gaming revenues.
“Sports betting unregulated is a debacle. It’s horrible as it puts money into the incorrect people’s hands,” said Bill Pascrell III of Princeton Public Affairs Group.
“Why should Nevada and Delaware have a monopoly? … It’s a state’s rights issue,” he said in an interview with CNBC’s “Power Lunch.”
The NFL has fought attempts to permit gambling on its games, arguing that it might put an excessive amount of pressure on officials to get calls right and that too many of us excited by sports betting may cause legal problems, said Scott Spreitzer, sports betting analyst at Pregame.com and a radio host at ESPN.
“I take the other view in relation to that. The more it’s regulated, the more it’s at the up and up, the fewer chance for individuals to become involved with unscrupulous people,” he said.
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