NFL Approves Raiders Move To Las Vegas, America's Sports Gambling MeccaWill State Allow Bets On The Team? |
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The Oakland Raiders are coming to Las Vegas.
On Monday, NFL owners met in Phoenix, Arizona and voted to allow the franchise to relocate to the gambling capital of America. A $1.9 billion domed stadium for the team is in the works, though construction hasn’t started yet.
According to ESPN, 31 of 32 owners voted to allow the move, with the Miami Dolphins franchise being the lone “no” vote. At least 24 needed to approve the plan.
Last fall, Nevada lawmakers approved a controversial $750 million public subsidy for the stadium. Taxpayers are on the hook for the lion’s share of the new stadium, but the Nevada casino industry says the economic benefits of the NFL team are too great.
According to casino industry estimates, a NFL team in Las Vegas would bring 800,000 additional people to the city annually and generate $620 million in annual economic activity.
Earlier this month, additional financing was secured after casino owner Sheldon Adelson, one of the richest men in the world, withdrew from the project.
The Raiders are expected to play their first season in Las Vegas in 2019.
It’s unclear if the Nevada Gaming Control Board will allow wagers on the Raiders, whether for home or away games. The NFL could ask Nevada to prohibit bets on the team.
Commissioner Roger Goodell told Sports Illustrated late last week that he remains anti-gambling.
“We are not changing our position as it relates to legalized sports gambling,” Goodell said. “We still don’t think it is a positive thing. We want to make sure that the integrity of our game is the primary concern and we do everything possible to protect that. And that people are watching it for the outcome, and they know that it is not being influenced by any outside influences. We are very determined to continue that, and we will; that’s a first priority for us.”
The sports betting market in America is an estimated $150 billion a year, with the vast majority coming through illicit channels. The American Gaming Association, which is leading efforts on Capitol Hill to legalize sports betting nationwide, applauded the NFL’s decision.
“We congratulate the Raiders and the NFL on today’s historic decision to place a team in Las Vegas," the AGA said. “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.”
A 1992 federal law banned traditional sports betting outside of Nevada.
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