Depending on the outcome, companies that are able to get in on sports betting could realize a substantial payout. This situation, like many legalization efforts, is extremely fluid and will change rapidly as the critical uncertainties mentioned below unfold.
The sportsbooks would prefer legislation that mirrors the way gambling is currently regulated on the state level by the Nevada State Gaming Commission. The leagues support a federal framework because it can address their interests on a national level.
The federal government is attempting to secure a wider blanket agreement on the federal level to protect public welfare and the integrity of the game, and generate sufficient tax revenue. These near-term developments will be interesting to watch as sportsbooks lobby for legalization on the state level. NCAA), were the first to act and have seen major returns, with more than $385 million a month being wagered in New Jersey alone.Įight states have currently legalized sports gambling, with more to potentially follow in short order as bills are reviewed by state legislatures. Delaware and New Jersey, the plaintiff of the Supreme Court Case (Murphy vs. In the immediate aftermath of the Supreme Court’s decision to overturn the Professional and Amateur Sports Protection Act (PASPA) in May 2018, some states scrambled to pursue a lucrative opportunity independently, without a federal framework in place.
