"I've been really astonished and can't believe, with the amount of money that's going to flow to sports if gambling is permitted, that it's not a subject of interest. And no one seems to be paying attention," "told Vincent told ESPN in an interview last week.
Vincent said the Supreme Court's decision in June to hear New Jersey's appeal to legalize sports betting at the state's casinos and racetracks is a "very big" case. He believes that New Jersey has a good chance of prevailing over the NCAA and four major professional leagues, which sued Gov. Chris Christie in 2012 to stop the state's efforts.
Oral arguments are expected in the late fall or early winter, with a decision coming in the spring of 2018.
Sports betting in the U.S. has been restricted to primarily Nevada since 1992, when the Professional and Amateur Sports Protection Act (PASPA) was put in place. Vincent, who served as MLB commissioner from 1989 to 1992, testified in support of PASPA at the time.
"In those days, we were very adamant against betting, because we had just been dealt and were dealing with the Pete Rose case," Vincent said. "We saw the risks and the danger of corruption, and we saw that the mafia was involved in some of the things we investigated. It's dangerous, and it's still dangerous. But I think the American public wants to bet, and it's already betting."
The American Gaming Association estimates that approximately US$150 billion is wagered on sports annually in the U.S. Others believe the figure to be as high as US$400 billion. But the estimates are hard to verify because the majority of sports betting takes place in a black market made up of offshore sportsbooks and local bookmakers.
"I'm not a fan of betting, and I'm not minimizing the consequences," Vincent said. "The complexities are staggering, but that is such an enormous amount of money, you can see why people would be grasping for it."
On top of
the Supreme Court, there are multiple ongoing efforts to lift the sports
betting prohibition. In the meantime, sports leagues are positioning themselves
for a landscape with expanded legal sports betting. The NFL, NBA, NHL and MLB
have partnered with sports data and betting integrity monitors like Sportradar
and Genius Sports.
Vincent isn't sure how various sports leagues will get a cut of legal sports
betting, but he said the equity investments made by MLB and the NBA into daily
fantasy sports could be possible models.
