With at least two-dozen states set to consider sports-betting legislation this year, a veteran gaming attorney has urged lawmakers to be realistic with their revenue expectations from a low-margin business that is often viewed as an amenity to lure customers into a casino.
“You really have to give it some serious thought if you want to take on sports betting,” said John Maloney, a principal attorney with John K. Maloney Law in Henderson, Nevada.
Speaking at last weekend’s winter meeting of the National Council of Legislators from Gaming States (NCLGS), Maloney cited Nevada’s sports-betting handle and revenue totals for November as a reason to understand the business before legalizing it.
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