Raiders Move To Las Vegas – How Does This Affect Sports Betting?
Legal sports betting advocates are hopeful that the NFL’s approval of the relocation of the Raiders to Las Vegas is a signal of the changing of the tides.
In a landslide win this Monday, the NFL’s 32 owners, voted yes to the team’s proposed move from Oakland to Las Vegas. The argument for the relocation was the lack of a viable plan for a new stadium in its current market. The solution proposed by team owner Mark Davis is a $1.7 billion facility in Nevada. Financial backing has already been confirmed through Bank of America’s $650 million loan and $750 million in public funds.
However, historically the league had shunned the idea of a team moving to Las Vegas due to the proximity to sports gambling and the concern that this would influence players and outcomes. But, with the birth of the NHL’s new franchise, the Las Vegas Golden Knights, sports gambling lobbyist are making the case that the US is ready for a legal market.
“We congratulate the Raiders and the National Football League on today’s historic decision to place a team in Las Vegas. The second announcement of a major sports franchise to locate a team in Las Vegas in just the last 12 months demonstrates how far gaming has come, from a niche industry to a $240 billion economic engine that supports 1.7 million jobs in 40 states,” Declared Geoff Freeman, president and CEO of the American Gaming Association.
“The gaming industry currently partners with professional teams around the country and we look forward to soon doing the same in Nevada. We applaud the many leaders in Las Vegas who have worked tirelessly to make the city the world’s premier tourist, convention and entertainment destination — and a market worthy of an NFL team,” Freeman continued.
Despite the uncertain outcome of this polarizing issue one thing is for sure, the Raiders’ move to Las Vegas is a step forward towards legal sports gambling in the United States.