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Monday, January 17, 2022

Supreme Court Could Legalize Sports Betting This Week

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A Supreme Court decision this week could potentially lift betting bans in New Jersey, helping other states across the United States, Bizjournals reported.

As early as Tuesday, New Jersey is expected to receive permission allowing it to legalize sports betting. If the U.S. Supreme Court rules broadly in favor of New Jersey, a sport betting is expected to become legal in West Virginia and Pennsylvania as well.

This campaign to legalize betting on sporting events began as an attempt to boast sagging revenues in Atlantic City casinos and horse tracks, which have both seen attendance, dwindle over the last decade.

Legalizing sports betting would generate roughly $9 billion in annual revenue to New Jersey, according to one estimate, the NY post reported. This estimate is more than three times the $2.68 billion net revenue from Atlantic City’s seven existing casinos in 2017.

The new law would exempt college sports games played in New Jersey or games involving state college teams wherever they played, Bizjournals reported.

The Garden State has been challenging the 1992 federal Professional Amateur Sports Protection Act (PASPA). If this law is lifted it would not only effect New Jersey, it would help 12 other states who have challenged this law as well.

The move could also bolster the review process in New York, where the future of sports bettingis uncertain. New York State Sen. John Bonacic introduced a sports betting bill earlier this year.

According to Legal Sports Report, New York has already authorized wagering at its commercial casinos pending a change to federal law via the US Supreme Court sports betting case, but wants to expand that to other commercial and gaming facilities in the state.

In recent years, some 20 states have been trying to legalize sports betting by turning bills into laws.

A Washington Post poll indicated that most Americans are in favor of legalized sports betting. Much like legalizing cannabis, many who do not approve of what is being legalized tend to believe legalizing vices such as marijuana and gambling reduce the violence associated with the black market and criminal entities that control the markets of sports “booking” and marijuana.

Many experts on this topic believe PASPA will be ruled unconstitutional, and placing bets on sporting events will finally become legal.

By Austin Myers

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