Jenner & Block

Client Alert: If Sports Betting Goes National, AML Risks Will Proliferate

In a few months, the US Supreme Court will decide whether federal law can continue to prohibit sports betting in most states.  If the federal prohibition ends, new sports books – both brick-and-mortar venues and online – will undoubtedly proliferate.  Along with the many new sports books will come an exponentially higher volume of cash and web-based transactions associated with sports betting.  For independent sports books and those attached to casinos, the cash infusion will bring additional money laundering risks to these businesses.

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