The evolving concept of exclusivity in tribal gaming
19th April 2021
6 minutes read
The tribes have fought for exclusive rights to gaming for decades, to ensure their operations provide returns to their communities. But amid the wave of gaming expansion sweeping the US, they face a dilemma over how to engage with these legalised verticals, while protecting their interests. Valerie Spicer of Trilogy Group sets out the current state of affairs.
To truly understand the impact of exclusivity, it requires going back to the initial thoughts in the compacting process. Nowhere was there a ‘Tribal Gaming 101’ handbook setting out how to negotiate with the state, and what, pray tell, the future would hold that you needed to contemplate in the many decisions that were in front of you.
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CFTC Commissioner Dan M. Berkovitz argued that futures contracts tied to the
outcome of sporting events should be permitted to be traded on a
designated contract market ( DCM ) if it can be
demonstrated that there is an economic purpose and the contract
provides impartial access to the public.
Mr. Berkovitz s statements came following the recent
withdrawal by Eris Exchange ( ErisX ) of a proposal to list futures contracts tied to the
outcome of NFL games. Mr. Berkovitz said that the proposal was deficient because (i) there was insufficient evidence
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Over the past few years the sports betting industry has completely transformed due to the ability to wager in multiple states and, in some of those states, wager online. Historically, Nevada was the only state to have legal sports books regulated by the Nevada Gaming Control Board and the Nevada Gaming Commission. Only a handful of other states had minor sports lotteries and sports betting frameworks. This was due to the Professional and Amateur Sports Protection Act of 1992 (PASPA), which had grandfathered existing sports betting offerings and prohibited new states from adding such offerings. PASPA was overturned by the U.S. Supreme Court in 2018, which paved the way for this new expansion of sports betting that includes legal online sports betting. Since then, states have raced to place their bets on the business of sports betting.