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 The police commissioner of New York City took his time to speak out about illegal sports betting this week echoing the concerns that many gambling advocates have about the practice. Gambling analysts say that regulating sports gambling is the only effective answer for ending the massive sports wagering black market which many feel is hurting society.
"Illegal gambling and money laundering are not victimless crimes," said Raymond W. Kelly at a recent press conference. "The proceeds from illegal sports betting are used to fuel organized crime and support harmful criminal enterprises."
While some states have been fighting for the opportunity to legalize and regulate sport betting the practice remains illegal in the majority of the US. Most lawmakers will admit that the federal ban on sports betting has been almost entirely ineffective.
Figures indicate that sports wagering on football alone involves billions of dollars in wagers each year in the U.S. all of which goes on illegally and untaxed. Legislators wanting to regulate this activity to protect consumers and create revenue face complications from the federal Government.
The Professional and Amateur Sports Protection Act of 1992 effectively outlawed sports betting nationwide with the exception of Oregon, Delaware and Nevada. A lot of controversy has surrounded the law since it's passing since technically it could be considered unconstitutional to ban a practice in some states but not in others but despite efforts from a number of states it has yet to be overturned.
Following the recent arrest of nearly 40 people in a handful of states who managed to conduct nearly $200 million in wagers in just the last three years even Kelly was struck by the fact that some sort of regulation needs to take place. The demand is going to be there no matter what happens and where there is money to be made someone is going to be all over it whether it's illegal or not.
It is far better for everyone for regulation to occur. It's frustrating that for some reason people insist on holding on to ineffective laws which hurt everyone. For those of us who like to bet on our favorites Bodog Sportsbook is a reputable and highly recommended site
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