Weekly News Roundup 2-10-17
President Trump Speaks on Sports Betting
May 2020 Safest Betting Sites
We speculated a while back on what a Trump Presidency would mean for the push of regulated sports betting. This past week, the President made his first comments on the subject of legalized sports betting since he’s been in office.
As initially reported by CNSNews, Trump’s comments were noncommittal on sports betting, but his willingness to speak on the subject is certainly a positive sign. Here is the transcript of his remarks:
GRAY: “You know quite a bit, as a former casino owner, and you have a particular insight — today an estimated $5 billion will be wagered, $4.8 billion, unregulated and untaxed illegally. What is your position and thoughts on making sports gambling legal nationwide?”
TRUMP: “Well, what I’d do is I’d sit down with the commissioners. I would be talking to them, and we’ll see how they feel about it. Some would not want it, and probably others — and I’ve read others maybe do. But I would certainly want to get their input and get the input from the various leagues, and we’ll see how they feel about it. I’d also get the input from lots of law enforcement officials, because, obviously, that’s a big step.
“So we wouldn’t do it lightly, I can tell you. It will be studied very carefully. But I would want to have a lot of input from a lot of different people.”
MLB’s Changing Stance on Sports Betting
Trump wasn’t the only one in the news this week discussing sports betting. Major League Baseball Commissioner, Rob Manfred, also discussed the topic this week at the Yahoo Finance All Markets Summit.
Manfred echoed previous statements that the league is open to changing their stance on sports betting:
“Sports betting happens,” Manfred said. “Whether it’s legalized here or not, it’s happening out there. So I think the question for sports is really, ‘Are we better off in a world where we have a nice, strong, uniform, federal regulation of gambling that protects the integrity of sports, provides sports with the tools to ensure that there is integrity in the competition … Or are we better off closing our eyes to that and letting it go on as illegal gambling? And that’s a debatable point.”
If Manfred and MLB change their stance on legalized sports betting – it would be a major positive. Both the NHL and NFL have been fiercely against legalization, but NBA commissioner, Adam Silver, has been outspoken in his support of regulating betting markets.