New Jersey legalizes sports betting, other states may follow
On Monday, May 14th, the US Supreme Court ruled in favor of New Jersey in the case of Murphy v. NCAA, overturning the Professional and Amateur Sports Protection Act of 1992 (PASPA) and thereby legalizing sports betting throughout the state. This ruling could have a significant impact on other states as they weigh whether or not to legalize sports betting.
While many are hailing the decision as a victory for states’ rights, others are concerned about the potential negative consequences of legalized sports betting, including increased addiction rates and organized crime. Sports betting is a multi-billion dollar industry and is currently legal only in Nevada.
States that have been considering legalization include Pennsylvania, West Virginia, Rhode Island, Mississippi, and New York. It is expected that other states will soon follow suit.
Nevada takes in $1B in sports bets in 2017
Nevada took in more than $1 billion in sports bets during 2017, according to the Nevada Gaming Control Board. The state’s casinos earned a total of $259.8 million in sports betting revenue last year, up from $248.9 million in 2016.
Casinos netted a total of $1.03 billion on sports bets in 2017, including the amount wagered and winnings. That’s up from the $968.8 million bet in 2016, but below the record high of $1.44 billion set in 2007.
Basketball was the most popular sport for betting, accounting for 36% of the total amount wagered last year. Football was second at 32%, while baseball accounted for 14% and boxing 2%.
The resurgent popularity of basketball betting is no doubt due to the excitement around this year’s NBA playoffs, with perennial contenders such as Golden State Warriors and Cleveland Cavaliers facing off against upstart teams such as Houston Rockets and Philadelphia 76ers.
Supreme Court to hear New Jersey’s case on legalizing sports betting
On Monday, the United States Supreme Court agreed to hear New Jersey’s case on legalizing sports betting. This could potentially mean that sports betting will be legalized in other states across the country.
The case was brought to the Supreme Court by Governor Chris Christie after the Third Circuit Court of Appeals ruled against the state’s efforts to legalize sports betting in December of last year. The court ruled that New Jersey’s law repealing a ban on sports betting violated a federal law that prohibits states from authorizing gambling within their borders.
Governor Christie believes that regulating and taxing sports betting would bring in much-needed revenue to the state. In addition, he contends that overturning the ban would protect consumers and create jobs.
Opponents of legalizing sports betting argue that it could lead to increased corruption in professional sports and increase addiction rates among gamblers. They also maintain that it is not a good use of government resources to legalize an activity that is currently being carried out illegally by many people.
This is not the first time that New Jersey has attempted to legalize sports betting. In 2012, a similar bill was vetoed by then-Governor Jon Corzine. However, with a new administration in place, Governor Christie is hoping for a different outcome this time around.
Delaware offers full-scale sports betting, including on college games
Delaware became the first state outside of Nevada to offer legal full-scale sports betting on August 6, 2018. The new law allows residents to bet on NFL games, NCAA Division I football and basketball, and other professional and collegiate sports.
The Delaware Lottery is overseeing the new sports betting operation, which is available at three casinos in the state—the Delaware Park Racetrack & Casino, Harrington Raceway & Casino, and Dover Downs Hotel & Casino. Bettors can place bets in person or via telephone or mobile app.
Sports betting was initially legalized in Delaware in 2009, but was limited to parlay wagers on NFL games. In May 2018, the U.S. Supreme Court struck down a federal law that barred most states from legalizing sports betting. Delaware was one of six states that had already enacted legislation authorizing sports betting in anticipation of the court’s decision.
Officials say they are expecting a “significant increase” in gambling revenue with the expanded sports betting options. In 2017, Delaware’s casinos took in $206 million in gross revenue from all forms of gambling (including slots, table games,카지노 사이트 and sports betting). Expanding sports betting is expected to generate an additional $3 million to $10 million per year in revenue for the state.
Some opponents of expanded sports betting argue that it will lead to more gambling addiction and other social problems. But supporters say that prohibition has proved ineffective at preventing people from gambling and that regulating and taxing sports betting can bring much-needed revenue to states and local jurisdictions.
Rhode Island mulls legalizing sports betting
The state of Rhode Island is considering legalizing sports betting, in what would be a major shift in how gambling is regulated in the United States.
If passed, the bill would allow the state’s four casinos to offer sports betting, with online platforms also allowed. The measure has already been approved by the Senate, and now awaits a vote in the House.
Supporters of the bill say it would bring in much-needed revenue to the state, with some estimating that sports betting could generate up to $23 million per year. They also argue that it would help to protect Rhode Islanders from illegal offshore websites that currently dominate the market for sports betting.
Detractors, however, note that sports betting can be addictive and lead to financial ruin for those who lose money on it. They also argue that it could damage the integrity of sporting contests.
It remains to be seen whether the House will approve the bill, but if it does, Rhode Island could soon become a leader in legalized sports betting.