UPDATED: Jan. 30, 2019 at 7:48 p.m.

Turning Stone Resort Casino recently announced the proposed construction of a new sports betting lounge, and it’s exactly what central New York needs.

The announcement follows a May 2018 Supreme Court decision that legalized sports gambling. New Jersey won the landmark case after justices declared a law, which previously banned sports gambling, unconstitutional.

Illegal sports betting has grown to become an annual industry of $150 billion, according to USA Today.

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This staggering number represented billions in lost tax revenue for states, and the Supreme Court’s May ruling was a major win. Central New York stands to gain from the decision.

Sports law professor John Wolohan, of Syracuse University’s David B. Falk College of Sport and Human Dynamics, said he believes that sports betting lounges, like the one at Turning Stone, can reduce the amount of illegal gambling — to a certain degree.

Wolohan said state governments and federal officials think that most sports bets will now go through legal channels.

The professor added that, since 2018, New Jersey’s sportsbook handle collected about $1.25 billion. While central New York casinos may not have the same amount of traffic as extremely popular New Jersey casinos, sports betting at Turning Stone can still have positive economic impacts here.

New York state estimates that sports gambling will generate millions of dollars in tax revenue this year.

The decision to legalize sports betting was strongly opposed by the NCAA and major leagues for football, basketball, baseball and hockey. A general argument of opposition appeared to be that legalized gambling could hurt the integrity of games.

New York State issued draft regulations this week and a 60 day comment period will follow. Then the State Gaming Commission will finalize the regulations. Sports betting at Turning Stone will begin after the regulations are adopted and the review from National Indian Gaming Commission is complete. 

In the end, one thing is clear: our economy will only be bolstered by Turning Stone’s plan, and legalized sports betting at casinos across New York.

Patrick Penfield is a sophomore accounting major. His column appears biweekly. He can be reached at fpen2021@syr.edu.

CORRECTION: In a previous version of this post, a statement about a bill needing to pass the Senate, House and Gov. Cuomo pertaining to sports betting in incorrect. No legislation is needed before the Oneida Nation can begin sports betting. The Daily Orange regrets this error.

Published on January 29, 2019 at 9:59 pm