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In May, the NFL sent a letter to the US Commodity Futures Trading Commission with a list of certain event contracts it deemed objectionable. By July, the league doubled down with public comments to the CFTC after the agency issued draft regulations for the contracts. The NFL cited props on player injuries, penalty totals and missed field goals as those that fit the bill. Goodell, however, conceded that the NFL has held discussions regarding prediction markets as public policy evolves.
Two other leagues, Major League Baseball and the National Hockey League, have each signed a Memorandum of Understanding with the CFTC that allows participating teams to partner with the operators.
“We don’t think we have to be first in this, we feel like we’re going to be right,” Goodell said. “The best thing to do is be patient and make sure you keep the integrity of the game number one.”
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He said the regulation was well established and not with the intention of raising revenue.
“Tax collection is part of the economic game and all sectors contribute,” Durigan said. “The same happens with betting.”
He argued the sector should be treated with the same rigour currently applied to cigarettes.
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“As the RFP process played out, regulators introduced additional policies and regulations. As each regulation was introduced, developers adjusted their gaming forecasting models downward. Finally, those models reached a tipping point where potential revenues were insufficient to justify a project’s capital costs,” says Klebanow.
Japan’s attempt to reap the economic benefits of casino gaming while keeping gambling socially contained is comparable to Asia’s dominant casino hubs Singapore and Macau.
Singapore has also imposed a highly controlled casino model, with casinos embedded within enormous integrated resorts and accompanied by entry controls and social safeguards. But by incorporating other forms of entertainment into their resorts, Marina Bay Sands and Resorts World Sentosa have proved hugely successful businesses that blend casino gaming with complementing luxury retail, hotels and entertainment.
