After Supreme Court ruling, Utah's Hatch to introduce legislation on sports betting
- Author: Leroy Wright May 15, 2018,
May 15, 2018, 2:28
Earlier today, the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act of 1992, a federal law that prohibited most states from legalizing sports gambling. Nevada is now the only state that allows people to wager on all sporting events, though that will change very quickly. Major League Baseball said the ruling will have "profound effects on Major League Baseball".
Now if only the Supreme Court would legalize marijuana already...
The PASPA law, which went into effect in 1993, essentially limited sports betting to Nevada for the last 25 years, though Oregon, Montana and DE were grandfathered in for limited betting.
Silver also said the league would like to see a federal framework instead of a state-by-state system.
Paddy Power Betfair has a presence in the U.S. through TVG, one of the country's biggest online horse racing businesses.
But Monmouth won't have a monopoly on legal sports betting for long. The law exempted Nevada and three other states (none of them New Jersey) from the act, allowing the thriving sports-book industry in Las Vegas to continue and flourish.
Keith Whyte, the National Council on Problem Gambling's executive director, believes any governmental body and sports league that receives a direct percentage or portion of sports betting revenue must also dedicate funds to prevent and treat gambling problems.
Scientific Games shares were last up 11.6 percent at $59.53, a record high, with trading volume 4.6 times the 10-day moving average. "There's already been a lot of work done, we expect, and now that work will be taken off the shelf and move from concept to implementation pretty quickly", said gaming lawyer Christopher Soriano. "Great profits come with great responsibility". The federal sports-gambling ban is nowhere near the statutory scheme that Obamacare is, but the Supreme Court here nonetheless thought it prudent to think of the ban as a violation of the "anti-commandeering rule" - or the general principle that Congress or the federal government can't boss around the states to do their bidding. Christie said his state's "long experience" of casino gaming shows that New Jersey can appropriately regulate sports gaming.
The Tour has been monitoring betting on players and events through an Integrity Program it implemented in 2018.
All four major US professional sports leagues, the NCAA and the federal government had urged the court to uphold the federal law.
As for the other 50 states, however, the matter is less clear. "For example, in Las Vegas, during the first two weekends of the NCAA [basketball] tournament, they get hundreds of thousands of extra visitors".
"People like me have been waiting 35 years for this to happen", said Vaccaro, who operates the sports book at the South Point hotel.
Adding that he needs to read the decision in full, and consider the possibilities, Baker noted that it's "certainly something we should look at".
The sports gambling market in Canada is enormous. "So now that there's a decision that's been issued, we'll expect to see some sort of ramp-up in that discussion in MA". But nearly everything else will in an industry that has succeeded despite the best efforts of the sports leagues to shut it down.