gambling

Optimizing Sports Gambling: A Case for Deregulating the Sports Gambling Industry

(Source) Sports gambling has existed in North America since 1665 when the first horse-racing track was opened. By the late nineteenth and early twentieth century, gambling became more prevalent as card rooms began to operate and many started gambling on boxing matches and baseball games. However, a series of scandals, such as the 1919 Black Sox baseball scandal and the point-shaving scandal at the City College of New York, and the rise of organized crime’s domination of the gambling market led sports leagues and federal legislators to attempt to prohibit sports gambling.  In 1920, Major League Baseball appointed its first commissioner, Judge Landis, in an attempt to restore the integrity of the game, and he banned from major league baseball for life the eight professional baseball players involved in the Black Sox baseball scandal. The federal government, on the other hand, passed the Federal Wire Act, which made it illegal to place bets or share information about them via wires across state lines. The federal government’s involvement with the sports gambling market culminated with the passage of the Professional and Amateur Sports Protection Act of 1992 (“PASPA”). PASPA banned states from sponsoring or authorizing any betting or gambling on competitive [read more]