Gaming investors eye jackpot from USA sports betting ruling

Gaming investors eye jackpot from USA sports betting ruling

Gaming investors eye jackpot from USA sports betting ruling

The court's decision came in a case from New Jersey, which has fought for years to legalize gambling on sports at casinos and racetracks in the state.

"If someone can tell you how much money that is going to bring to the state, they're lying to you because nobody knows", Sanders said. "The initial thought would be we better do a tremendous job of educating the young men that we're around because there's going to be more people interested in betting on games". "Every one of these states' legislative measures hinged on the finding of the Supreme Court that PASPA is unconstitutional".

"Obviously we have to wait with what the state does".

But Edwards said he didn't think it would be right to add sports betting to the list of issues that will be considered during the special session, which is supposed to focus on taxes and shoring up the state's budget for the next fiscal year, which starts July 1. During his tenure as a USA senator from New Jersey, Bradley was one of the sponsors of the legislation that became the Professional and Amateur Sports Protection Act of 1992. Supreme Court ruling Monday means all states can now join Nevada, Delaware, Montana and OR in allowing sports betting.

Don't forget that numerous major players in Nevada - notably MGM and Caesars - have a major presence in markets likely to bring sports gambling to market quickly like New Jersey and Mississippi.

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Now, we're taking a look at how it could impact northern MI casinos down the road. "And we want to be able to move forward with the overall industry".

Manuel said Big Ten commissioner Jim Delany mentioned the Supreme Court ruling during the conference meetings this week.

"Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own", Justice Samuel Alitowrote in his majority opinion, which found that theProfessional and Amateur Sports Protection Act of 1992 did indeed commandeer power from the states in order to regulate their own gambling industries.

"I think if there's a threat it already exists".

The decision has been heralded as a victory for, as The Wall Street Journal put it, "states' rights to regulate activity within their borders". Revenue from wagering could exceed the money that teams get from TV and other media, said Ted Leonsis, the owner of the Washington Wizards and Capitals. "A lot of those reasons, with this opportunity now becoming available, may find some value in college athletics as well".

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We understand that sports gambling is not panacea for all that ails New Jersey. And he agrees there will have to be an increased focus on the topic within his program.

"I don't believe this is going to take the place of our slot machines, but it's another amenity we can enjoy and people can have fun with", he said.

"Some of the technologically advanced states will move relatively quickly, but my hope is that there's a federal approach to it, as opposed to everyone having to deal with each state individually", Cuban said.

The American Sports Betting Coalition estimates that as much as $150 billion a year is illegally wagered on sports. As sports gambling is legalized and grows in popularity, states may be more likely to consider other forms of gambling that will buoy the states' overall revenues.

"Sure, I think that's possible", Whitman said. Well, perhaps the governmental grind isn't quite ready unleash its citizens into an borderline anarchist society, but the people have been given a little more freedom than what they've had in the past.

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