Sportsbook Business is Booming in Sin City for NCAA Tournament

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The betting numbers for March Madness won’t be in until late April but Las Vegas is poised for a record year in terms of money wagered on the NCAA Tournament due to its legal monopoly.

When it comes to betting on single games, there is only one place to do it in the US and that is in Sin City. Based on the reports coming out of Las Vegas for this year’s March Madness, business is booming with sports bettors having no other walk-in options, and of course online sportsbooks. It is rumored that $300 million will be wagered on the NCAA basketball tournament from start to finish and more than $10 billion with online betting sites according to estimates from the American Gaming Association (AGA).

The push from other states to open up sports betting to their casinos has played out over the last few years with New Jersey hoping to gain traction through the Supreme Court. The year is 2017, not 1957, and the societal stigma that was once associated with sports betting, and gambling in general, has gone the way of the pay phone. There are billions of sports gambling dollars ready to be had by casinos all across the country.

The action on March Madness reflects the growing sentiment that societal norms have changed drastically and the laws must be changed along with them.  It’s Prohibition for the new millennium and it is about as popular as Prohibition back in the 1920’s. Only one commissioner has had the gumption to speak out and declare that legalizing sports is simply the right thing to do. That distinction belongs to NBA commissioner Adam Silver whose stance is diametrically opposed to the arcane philosophy of NFL head honcho Roger Goodell. Silver says legalize it and tax it while Goodell wants sports gambling left in the not-so-dark shadows, in order that the games maintain their integrity.

Goodell fails to acknowledge that British bookmakers have been taking action on soccer, and sports in general, for decades. Their existence has not tarnished any league and the notion that games will become susceptible to nefarious betting cartels bent on fixing matches is absurd. If that was the case it would already be happening and wouldn’t suddenly become a cottage industry because suddenly these international outlaws can finally find a casino to take their bets legally!

Sports gambling is not going away and as the rest of the country jealously watches Nevada feast on all that tax money generated by March Madness wagering, not to mention all the other days of the year, those states who want their share of those revenues will continue to hurry up and wait for the legislature and judiciary to awaken to this not so new frontier. It’s time to give to the rest of the nation what Nevada has had an exclusive on for so long because there are billions of reasons to do so.

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