Trump Waits to Take Stance on US Gambling
Following record numbers resulting from Super Bowl wagering last Sunday, the sports betting industry is gaining a lot of attention from key players in high positions. Namely, legislative representatives and even President Trump, who was recently asked to weigh in on the topic during an interview on Jim Gray’s Westwood One radio network program.
President Trump’s response was vague, albeit understandably restrained,
“What I’d do is sit down with the commissioners. I would be talking to them, and we’ll see how they feel about it,” He explained. “Some would not want it, I’ve read others maybe do. I would certainly want to get their input and get the input from the various leagues . . . It will be studied very carefully.”
The statement tiptoes around the status of sports gambling legislation like the Professional and Amateur Sports Protection Act (PASPA), a federal statue made law in 1992 which made gambling illegal in 46 states.
Trump’s Gaming Ties
It’s no secret that trump has long standing connection with the world’s top gaming moguls, the highest-profile example being Sheldon Adelson. Adelson is a long-time Trump supporter, who contributed the largest sum to President Trump’s election campaign. Some believe the Las Vegas Sands Corp. CEO is paying for his allegiance now as Trump and China square off in a back and forth over trade and territorial despites in the West Pacific. Chinese gaming officials revealed in January they would be holding off on the renewal of work visas for 100 gaming executive and managerial staff members at Las Vegas Sands properties in Macau.
Steve Wynn is another notable who has been at odds with Trump over the years. However, the two recently reconciled their differences, with Trump offering the casino owner a position on the RNC committee as its financial chairman.
Super Bowl Numbers Score Touchdown
The surprise comeback the New England Patriots made over the Atlanta Falcons was one for the record books, but that wasn’t the only record event of the day. Bookies across the country brought in record numbers for Super Bowl wagering. Las Vegas alone took $138.48 million in bets across the states-196 sportsbooks. It was the highest in the state’s history.
Linemakers reported a hold of nearly 8% that totaled just under $11 million. While these numbers are great for bookies, the American Gaming Association believes overseas bookmakers made out with the lion’s share of wagering. An estimated $4.5 billion was placed in wagers by Americans via unregulated outlets.
Trump has plenty of odds of his own hanging overhead, with bookmakers offering payouts on the likelihood of the President’s impeachment. Those numbers dwindled though following his interview broadcast during Super Bowl LI. Less than a month ago Irish bookmaker Paddy Power offered odds on “Trump to be impeached in first six months of presidency” at 8/1. However, now those numbers have fallen to just 4/1. There are odds offered on the president’s voluntary resignation as well, with odds for the event taking place within Trump’s first term coming in at 1/2 for “Yes” and 6/4 for “No”.
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