Connect with us

Gambling in the USA

NCAA removes integrity fees for sports betting

Niji Ng

Published

on

NCAA removes integrity fees for sports betting
Reading Time: 3 minutes

The National Collegiate Athletic Association (NCAA) of the USA will not be charging integrity fees on sports betting following the legalisation of sports betting in some states of the country.

The move to legalise sports betting by some states has created some problems also – along with the numerous opportunities it creates. Major sports organisations in the country are still checking how the move might influence their operations. There are also issues around the integrity of these sports, as well as the issue of third parties making money out of their intellectual property. Then there is the issue of integrity fees, especially with the NBA and MLB. That is where the announcement of the NCAA to do away with integrity fees assumes significance.

Integrity fee details

At the beginning of May 2018, the US Supreme Court legalised sports betting in the country. This meant that individual states could decide whether or not sports betting should be legalised in their jurisdiction.

A number of states have already passed bills and started offering these types of wagers, whereas others are taking a more cautious approach. Organisations strongly against sports betting include the NFL, NBA, MLB, NHL, and NCAA.

They were concerned that legalisation would lead to the integrity of their sports leagues being compromised as it would become a lot easier to bet on the outcome of games. They were also concerned that parties that accept bets on the games in the respective organisations will be benefitting from the league’s intellectual property.

Therefore, the likes of the NBA and MLB had been calling for the introduction of integrity fees. These would effectively be the league’s slice of the action for sports betting on games in their league. When the sports betting bill was being debated in the state of New York, for example, there was a provision for the leagues to get 0.2% of each wager.

The NCAA stance

The NCAA, which is the representative body for college sports in the U.S., has decided to change its stance on sports betting. The four predominant professional leagues in the country have been looking for these integrity fees, but the NCAA has now announced that it will not be looking for a cut. The main reason the leagues are looking for this fee is to pay for the oversight expenses that will be required for legalised sports betting.

The CFO and senior vice president of the NCAA, Kathleen McNeely, outlined the NCAA’s stance that sports betting should be regulated on a state level and that while the NCAA will not be pursuing integrity fees, individual schools can do so if they wish.

Essentially, the NCAA is looking to move away from having to monitor the integrity of games under their umbrella and instead place this in the hands of the participating schools. This, of course, would pass the burden of cost onto the individual schools.

McNeely said: “We will not be going after any gambling revenue. We know it will cost money to monitor, but (association president) Mark Emmert has been pretty firm in saying he doesn’t think it’s appropriate for the NCAA to try to access that revenue.”

There are different ways for universities to obtain these integrity fees. There has already been an agreement in West Virginia between the NBA, PGA Tour, MLB, Marshall University and West Virginia University on monitoring in association with the lottery commission in the state.

West Virginia was one of the first states to make sports betting legal. Both the NBA and MBL have been working hard across the country, lobbying lawmakers to try and get their cut, while the NFL and NCAA have been largely quiet in this regard. The NFL appears to be more in favour of sports-betting regulation at a federal level.

 

Source: vegasslotsonline.com

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

Continue Reading
Advertisement
Comments

Gambling in the USA

AGA Releases New Research On Economic Impact Of Gaming Industry

George Miller

Published

on

AGA Releases New Research On Economic Impact Of Gaming Industry
Image Credit: AGA
Reading Time: 1 minute

 

Report shows 9.5 percent increase in economic output; industry now supports 1.8 million jobs nationwide

 

The American Gaming Association (AGA) released a new study examining the striking impact the gaming industry has on the U.S. economy – providing stable jobs to nearly two million Americans and generating billions of dollars in tax revenue. This is the first comprehensive report on the gaming industry’s national economic impact since 2014.

Oxford Economics’ 2018 study found that the U.S. gaming industry:

  • Contributes $261 billion to the U.S. economy, a 9.5 percent increase since 2014;
  • Supports nearly 1.8 million jobs, up from 1.7 million jobs in 2014; and
  • Generates $40.8 billion in tax revenues to federal, state and local governments.

“Gaming companies across the country are enabling long-lasting careers for their employees and making a huge impact on their communities through innovative partnerships with local nonprofits, volunteerism and the generation of revenue that supports critical services. The industry’s tax revenue alone provides enough funding to hire 692,000 new teachers,” said Sara Slane, senior vice president of public affairs for the American Gaming Association. “Since our last study in 2014, casino gaming has expanded into new markets, offered innovative new entertainment options and enhanced its position as a key contributor to local, state and federal economies.”

The research was commissioned by AGA and conducted by Oxford Economics. More information about the study can be viewed here.

About AGA: 

The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.

Continue Reading

Compliance Updates

DC Council member introduces sports betting bill

Niji Ng

Published

on

By

DC Council member introduces sports betting bill
Photo Credit: John Locher/AP
Reading Time: 1 minute

 

In a significant development in the US state of District of Columbia (DC), a council member Jack Evans has introduced the Sports Wagering Lottery Amendment Act of 2018 in the council. The bill is aimed at legalising sports betting in the state. Evans presented the bill during the Council of the District of Columbia’s regularly scheduled Committee of the Whole meeting.

The US Supreme Court lifted the federal ban on sports betting on May, when it struck down the PASPA Act that prohibited states from regulation the gambling modality. Since then a number of states have decided to take a step forward and act on the growing industry, and as close states such as Delaware, West Virginia and New Jersey have already legalised sports betting, the country’s capital does not want to be left behind.

The Council member’s office said that it has worked closely with the District’s Lottery in order to craft the legislation that would regulate and maximise the revenue made in the state. The bill establishes that residents and visitors would be able to bet both online and in person, and the Lottery would have more authority to ensure the integrity of the system.

“Today, we take the first steps towards capturing this exciting new stream of revenue, instead of watching District resident dollars fill the coffers of other jurisdictions,” said Councilmember Evans. “The District of Columbia will be the leader in a fast-growing industry. The city should take advantage of our ability to act before the Maryland or Virginia legislatures to create a thriving sports betting market, which will attract consumers to the District and generate revenue for District residents.”

Continue Reading

Gambling in the USA

IGT’s Blake Shelton Video Slots to Make World Debut At Seminole Hard Rock Hotel & Casino Tampa

George Miller

Published

on

IGT's Blake Shelton Video Slots to Make World Debut At Seminole Hard Rock Hotel & Casino Tampa
Reading Time: 1 minute

 

Seminole Hard Rock Hotel & Casino Tampa will be the first casino in the world to receive IGT’s Blake Shelton Video Slot machines.

The machines will be available for use beginning Tuesday, September 25, in the art deco-inspired Mezzanine Level Casino.

To celebrate the arrival of the new slots, the property will be holding a contest where 10 lucky guests will win $500 each to play on one of the four machines. Contestants can enter online from September 20 to September 24.

The new video slots were created by IGT to feature Country Music Association’s “Entertainer of the Year,” five-time Male Vocalist of the Year winner and seven-time GRAMMY nominee, Blake Shelton. He’s known for his success in country music and his role as a coach on the Emmy Award-winning television show “The Voice.”

The Blake Shelton Video Slots is a low-denomination, 40 pay-line game and features a 375-credit maximum bet. The game offers a jukebox that includes many of Shelton’s 25 number one radio singles and other favorites.

There are a handful of bonuses that the game offers including the “Light up the Night” free games bonus, “I’ll be your Honey Bee” bonus and the “BS’ers” bonus, which offers players the chance to win a jackpot along with an official Blake Shelton autographed guitar.

All usage of Blake Shelton’s name, image and likeness is under permission from Ten Point Ventures, Inc. All rights reserved.

 

Source: Seminole Hard Rock Hotel & Casino Tampa

Continue Reading
Advertisement
NSoft
Advertisement
BetConstruct

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.