All Bets Are On!

Sports betting laws were officially overturned when the U.S. ruled in favor of New Jersey this past Monday. 

The federal law, known as the Professional and Amateur Sports Protection Act (PASPA), was originally established in 1992 and banned states from regulating sports betting with a few exceptions.  

Before now, the only legal place for sports gambling was Las Vegas, Nevada. The gambling capital reported around 4.8 billion dollars in revenue from sports bets last year. According to experts it is estimated that up to 150 billion was bet illegally last year. 

The ruling was overturned by a 6-3 vote. The decision declared the law unconstitutional because it violated states’ rights to regulate themselves. Governor Chris Christie of New Jersey first challenged the legislation back in 2012 when he signed a law authorizing the legalization of sports betting in state casinos and racetracks. 

Major sports leagues such as the NFL, NBA, NCAA and more originally supported PASPA, claiming that it protected the “integrity” of the games. After the decision the NFL released the following statement: 

“The NFL’s long-standing and unwavering commitment to protecting the integrity of our game remains absolute. Congress has long-recognized the potential harms posed by sports betting to the integrity of sporting contests and the public confidence in these events. Given that history, we intend to call on Congress again, this time to enact a core regulatory framework for legalized sports betting.” 

Several states are already taking advantage of the change. Delaware, Mississippi, New York, Pennsylvania, and West Virginia have already shown interest in putting legislation in place for legal sports betting.  

So, get ready to place your bets!