Write a research report on Sports Gambling laws in the U.S.

User Generated

tntnbbynyn

Business Finance

Description

Write a research report regarding Sports Gambling Laws in the United States

Length: 10 Pages, Double Spaced, size 12 font Times New Roman

Details: Thoroughly discuss the relevant matters of sports gambling in the US. Debate what the current laws are/should be. Which sports do people gamble on the most? Why was sports betting illegal? Should sports like professional basketball and football allow gambling if they can regulate it? How are Vegas odds set? Difference between parlays and singular bets? Local Bookies vs. Online sports books? Do you have to pay taxes on gambling winnings?

Those questions listed above must be discussed in the paper. Other relevant matters you find in sources can be included as well.

- examples of people breaking sports gambling laws in the past (Pete Rose MLB) (Tim Donaghy NBA Referee) (Boston College Basketball team) - those all MUST be included, and you should reference other examples as well.

Use AT LEAST 5 scholarly sources.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Outline
INTRODUCTION
Sports gambling refers to a popular and widely common act of predicting the final scores
in a competitive sport, and placing a gamble on this outcome in the hope of winning. How often
people bet on a certain sport depends greatly on the popularity it holds among the wide range of
fans and also the modern-day culture. In some regions like Europe, where football is
undoubtedly the most popular sport, most sports bets are placed on this. Sports betting ranges
across sporting and non-sporting activities, both the legal and illegal and from professional level
sports to unprofessional sports like amateur boxing. Illegal bets take place for illegal activities
like dog fights in the USA, and cockerel fights in Mexico.



Thoroughly discuss the relevant matters of sports gambling in the US.



Debate what the current laws are/should be.



Which sports do people gamble on the most?



Why was sports betting illegal?



Should sports like professional basketball and football allow gambling if they can
regulate it?



How are Vegas odds set?



Difference between parlays and singular bets?



Local Bookies vs. Online sports books?



Do you have to pay taxes on gambling winnings?


Surname 1
Name:
Submitted To:
Course:
Date:
SPORTS GAMBLING LAWS IN THE USA
INTRODUCTION
Sports gambling refers to a popular and widely common act of predicting the final scores
in a competitive sport, and placing a gamble on this outcome in the hope of winning. How often
people bet on a certain sport depends greatly on the popularity it holds among the wide range of
fans and also the modern-day culture. In some regions like Europe, where football is
undoubtedly the most popular sport, most sports bets are placed on this. Sports betting ranges
across sporting and non-sporting activities, both the legal and illegal and from professional level
sports to unprofessional sports like amateur boxing. Illegal bets take place for illegal activities
like dog fights in the USA, and cockerel fights in Mexico.
In this paper, we shall discuss the legality of sports betting in the US. We shall try to
understand the laws that govern sports betting companies and how these laws are applied in
practice. We shall focus on the sports that are popular among the sports betting community, and
also how the odds are calculated for any given game in places like Las Vegas. Next, we shall
discuss the potential outcomes of certain sports allowing gambling and what implications this
may have on the sport and on their teams.

Surname 2
The aim of this paper is to show that sports betting is an necessary evil that has far
reaching consequences for those involved, both the gamblers and the sportsmen themselves if it
is done the wrong way, and also address the possible benefits it holds for the betting companies
and their clients who place their wagers on their favorite teams.
GAMBLING AND THE LAW IN THE US
Up until 2018, it was illegal under the Professional and Amateur Sports Protection Act of
1992 for any state in the US to permit any legal sports betting, and this made it essentially illegal.
Save for a few states like Oregon and Montana which had already existing sports lotteries, the
rest were not exempted from this prohibition. The major US professional sports leagues had
urged the courts to uphold this ruling that had been passed in 1992 arguing that by allowing the
gambling to take place in all states, this would have a negative effect on the sports themselves
and it was a question of integrity. However, the court decided to lift this ban and with good
reason. At the time, it was estimated that the American population illegally spent roughly $150
billion on wagers across sports, and like it or not, sports gambling was becoming a household
activity that would sooner or later have to be accepted no matter the consequences (Paul, Rodney
& Weinbach 2010).
Without a doubt, sports gambling is widely popular across the United States. Horse races
have been an avenue for gambling for decades. A few polls taken over the years showed mixed
feelings towards the activity, but legalizing it was mostly supported than opposed. In households
where one member took part in gambling, most of the rest felt that it should be legalized. In other
households where no one gambled, there were mixed feelings recorded with ro...


Anonymous
Great! Studypool always delivers quality work.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags