Sports betting has been legally prohibited by the enactment of a federal law back in the year of 1992. This law, however, does not pertain to the four states that already have fully legalized sports betting. Unfortunately, the legalization of sports betting can really harm players, especially those who are not currently paid such as college athletes. These professional athletes are most likely to be victims of corruption due to them not being paid enough as it is.
Key Takeaways:
- College athletes are the most vulnerable when it comes to sports betting as they are not paid at all, or they are paid very minimally.
- It is believed that regulations may be put into place right after the mid-term elections.
- Some states are going to be requiring licensing fees before operational betting takes place.
“The law called the Professional and Amateur Sports Protection Act, passed in 1992, prohibited sports betting, except in four states where it had already been legalized — mainly Nevada, and to a lesser extent Delaware, Montana and Oregon. It gave the other states one year to legalize such betting, if they wanted to do so.”
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