Mike Atherton has written a new book looking at the history of gambling.
And he says it would now be "remarkable" if the resort beat the Millennium Dome to the coveted super casino licence.
Athers also warns his research has led him to believe that towns like Blackpool should not be banking on a regeneration jackpot if they win the great casino race.
He told The Gazette: "Nobody really knows what the impact of a super casino will be, but if you look at America and Atlantic City in particular, there is certainly no argument that casinos automatically bring urban regeneration.
"Resort casinos are not particularly good neighbours for other businesses, because the whole point is that all the amenities are there in order to keep the punters inside.
"It would be great if Blackpool did get regenerated, but whether that should be done by encouraging more people to gamble I'm not sure."
Mike argues that the Government's only reason for liberalising the UK's gambling laws was so that it could reap the tax benefits, rather than using casinos as a regeneration tool.
It was his own experience of gambling that prompted the former star batsman to research the subject for his new book called Gambling – A Story of Triumph and Disaster.
His own biggest win was his £30,000 share of a syndicate win of £800,000 on the horses and he lasted for six hours in the European Master Poker Championships.
But even as a betting man, he will not be putting his money on Blackpool to win the right to the UK's first super casino.
He said: "I think most people would find it remarkable if it wasn't going to be at the Millennium Dome now."
The book considers gambling right from Greek mythology and the ancient role of lots, dice and cards, right through to the high profile claims of thrown cricket and football matches of today.
But there are no tips on how to win. Mike said: "I'm afraid I can't tell people how to hit the jackpot, but I did find out that the common link between all good gamblers is that they are good at maths and use the laws of probability very well."