Here’s What Happened at the House Judiciary Hearing on Sports Betting

 

A House Judiciary subcommittee hearing titled “Post-PASPA: An Examination of Sports Betting in America” proceeded on Thursday under the shadow of a more high-profile hearing in the Senate.

Little new ground was covered during the one-and-a-half hour session that largely afforded the five witnesses an opportunity to reiterate their main positions underscored in the written statements submitted prior to the session.

Chairman of the House Judiciary Committee’s Subcommittee on Crime, Terrorism, Homeland Security and Investigations, Jim Sensenbrenner (R-WI), began by noting “This is just the beginning of the conversation,” and concluded by opining that “for Congress to do nothing” on the matter would be the worst possible outcome. What follows is a synopsis of highlights and lowlights.

 

 

Read more Here’s What Happened at the House Judiciary Hearing on Sports Betting on SportsHandle.

AGA, NFL May Have More in Common Than It Appears

 

As the House Judiciary Committee Subcommittee on Crime, Terrorism, Homeland Security and Investigations prepares to host a hearing on Thursday titled “Post-PASPA: An Examination of Sports Betting in America,” a question comes to mind: As key sports betting stakeholders, including the American Gaming Association, individual states and lawmakers, casino operators and others push back against a “federal framework” for sports wagering, while the NFL and several other pro leagues lobby in favor, do the two sides have anything in common?

It appears they do.

And, according to AGA senior vice president of public affairs Sara Slane, the two sides have more in common than you might think. In fact, Slane thinks the professional leagues, the NFL in particular, and her group are “90 percent aligned.”

 

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AGA to Schumer: Sports Betting Doesn’t Need Federal Oversight

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“Additional federal engagement is not warranted at this time.”

Those words close the first paragraph of the American Gaming Association‘s latest volley in the discussion about the creation of federal sports betting regulation. The AGA, a national trade group, has been on the front lines in working with stakeholders to streamline the legislative process as sports betting becomes legal in more and more states.

On Thursday, it released a letter sent to Democratic Senator Chuck Schumer (New York), in response to Schumer’s call for a federal framework that would, among other things, require sportsbooks to use “official” league data and would allow the professional sports leagues a voice in determining what kinds of bets could be placed. The letter is intended as a reply to Schumer’s staff, which requested additional information from the AGA following an Aug. 2 meeting.

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Study: NFL Will Make Billions From Legal Sports Betting

 

If there was ever any question about whether or not professional sports leagues would benefit from legal sports betting, it was answered Wednesday.

According to a Neilson study commissioned by the American Gaming Association, the NFL stands to see a $2.3 billion increase in revenue from legalized sports betting. The study projects that the NFL will gain about $1.8 billion in revenue from increased fan engagement, and $573 million directly from sports betting.

American Gaming Association senior vice president of public affairs Sara Slane used phrases like “great upside for all stakeholders” and “massive economic” increases when describing how sports betting would impact the professional sports leagues during a conference call with media on Tuesday.

Legal Sports Betting Must Reach ‘Full Potential’ for NFL and Other Pro Leagues to See Benefits Described in Study.

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Where will the money come from? According to the study results, the NFL will benefit the most from indirect means, including “increased consumption and engagement with the league and its contents/products.” In simpler terms, the NFL will get more viewers and sell more gear creating an increased revenue stream through media rights, sponsorship, merchandise and ticket sales. According to the study, the nearly $1.8 billion in new revenue represents a 13.4 increase for the league. The NFL will see the biggest increase in revenue from media rights, which spending is expected to increase by 17.9 percent.

Read the complete post – Study: NFL Will Make Billions From Legal Sports Betting on SportsHandle.