The term ‘too big to fail’ must be excised from our vocabulary.
Jamie Dimon
27th September 2017  
 
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The Story

A nationwide survey in the U.S. has shown that 55% of adults are in favor of legal sports betting, a sign that efforts of various states and groups to legalize sports betting won’t be for nothing.

 

Tell me more about it.

The results of the survey, which involved 1,000 respondents contacted from August 14 to 21, showed that 55% are in favor of legalizing sports betting while 33% opposed it. The Washington Post, which published the results of the survey, said that it was the first poll to indicate majority support for legal wagering.

 

But it isn’t the first time that legal sports betting got majority support.

A 2014 Seton Hall University survey found similar levels of support (55%) for legal betting. But a more recent Seton Hall Sports Poll showed support at just 46%.

 

Times have changed.

Indeed. The results of the survey stand in stark contrast to the Gallup/CNN/USA Today poll conducted in 1993 – one year after the federal PASPA sports betting prohibition took effect – which found just 41% of respondents approved of legal betting versus 56% who stood opposed.

 

Takeaway

The survey only shows the change in the perception of Americans with regard to sports betting. The support of the punters will bolster the case of New Jersey state government to ask the U.S. Supreme Court to repeal the antiquated 1992 Professional and Amateur Sports Protection Act (PASPA) which bans sports betting.

 
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  FACT YOU NEED TO KNOW
 

In 2004, Paul Newey, known for wagers up to £300,000 per spin on roulette, took £3 million from the Star City Casino in Birmingham, UK. Newey’s win forced casino owners Stanley Leisure to issue a profit warning. 

 
 
 

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Congratulations to Fredrik Burvall for being appointed to the Board of Directors of leading player retention solutions provider Enteractive. Before joining Enteractive, Burvall stayed for 10 years at the Cherry Group where he acted as CFO and most recently Group CEO.

 
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