AGA Statement on NBA Proposal to Skim Money from American Taxpayers​

AGA Statement on NBA Proposal to Skim Money from American Taxpayers​


FOR IMMEDIATE RELEASE
January 24, 2018
CONTACT: Casey Clark
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202-552-2684


Washington, D.C. AGA President and CEO Geoff Freeman released this statement following the NBA's testimony in New York state today proposing that sports leagues receive a portion of all money legally wagered on sporting events


“We are pleased that the National Basketball Association (NBA) today joined with the gaming industry in support of vigorously regulated sports wagering. We can all agree that the 25-year ban on sports wagering has been a failure in every regard. Now, let’s get real about eliminating the illegal market, protecting consumers and determining the role of government – a role that most certainly does not include transferring money from bettors to multi-billion dollar sports leagues.” 

Background
 

Facts on NBA Proposal to Skim Money from American Taxpayers​

  • A legal Nevada sports book realizes 3.5-5 percent in revenue.
  • A 1 percent “integrity fee” on all money wagered legally by Americans, as proposed by the NBA, amounts to 20-29 percent of total revenue.
  • Money that leagues skim off the top decreases the total amount of money taxable by state/other governments. These dollars fund vital community services. 
  • Money that goes directly to the leagues distorts the odds that legal bookmakers are able to provide and encourages Americans to continue to operate criminally in the illegal market.
  • Americans are currently wagering approximately $150 billion illegally on sports annually. 
  • All leagues have retained outside resources to track betting activity in the current marketplace (legal and illegal).
  • A legal market in the United States is expected to process approximately $150 billion in wagers, or the same amount that the leagues are currently confronting.

 

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About AGA: The American Gaming Association is the premier national trade group representing the $240 billion U.S. casino industry, which supports 1.7 million jobs in 40 states. AGA members include commercial and tribal casino operators, suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to be the single most effective champion of the industry, relentlessly protecting against harmful and often misinformed public policies, and paving a path for growth, innovation and reinvestment.