Legalized Sports Betting in Oklahoma?
Oklahoma Bar Journal (October 2018) pp. 10-14
6 Pages Posted: 6 Mar 2019
Date Written: October 2018
In 1992, few states articulated a desire to offer sports betting, and many were in favor of legal sports betting being frozen. Since 1992, vast accessibility to the internet has fueled an illegal online sports betting industry that has grown to levels likely unimaginable by lawmakers at the time of PASPA’s passage. This knowledge, as well as the never-ending quest for new sources of revenue, has left lawmakers looking at legalizing sports betting in the post-PASPA world. The Oxford Economics group has estimated that a limited availability with a high tax rate model of sports wagering in Oklahoma would generate more than $240 million in annual gaming revenue and create more than 3,100 direct and indirect jobs. The promise of new tax revenue and jobs is attractive, but there is a danger that the exuberance for quantitative factors, may lead some to overlook the qualitative factors that are needed to ensure a safe, healthy, and profitable gaming experience in the rush of state legislatures to get sports betting bills on the table.
Keywords: gambling, oklahoma, gaming, tribal
JEL Classification: K00, K10, K14, K33, K40, K49, L50, L59, L63, L80, L83, L86, L89, O34
Suggested Citation: Suggested Citation