May 20, 2018

Sports betting in Colorado could be a long shot

15 May 2018, 03:10 | Rufus Hill

US welcomes nationwide sports betting after Supreme Court overturns federal ban

Sports betting possible by end of May at Monmouth Park

Hold everything. All Monday's ruling does is clear a path for states to legalize sports betting on their own terms - that's it.

Musburger says sports betting and influence scandals are rare, and all that bookmakers in Las Vegas want is integrity and honesty.

Each state will now be allowed to create laws that will monitor sports gambling.

It's not talking yet about details.

Cuban said the National Basketball Association, which has supported legal sports betting, can use its new National Basketball Association 2K esports league as a proving ground for the new laws.

New Jersey has been trying to legalize sports betting at racetracks and casinos since 2011, when 63 percent of the state's voters approved a ballot referendum that allowed the state Constitution to be changed to permit sports betting.

For those who ever have wondered how widespread and prevalent sports gambling is in the current climate need look no further than the fact that BetDSI actually placed odds on the Supreme Court's ruling, with the Professional and Amateur Sports Protection Act of 1992 being overturned as the slight favorite (-145) over the ban being upheld (+115).

Company president and chief executive Mark Frissora says Monday's ruling by the U.S. Supreme Court could end illegal sports wagering by replacing it with a well-regulated alternative that sports fans can trust.

Lawmakers already have held hearings about how they might legalize sports betting, but it's unclear whether they can approve legislation by the end of May, when the General Assembly is scheduled to adjourn.

Six states, including New Jersey which that brought the lawsuit to the Supreme Court, have already passed laws to allow casinos to take sports bets once the federal law was struck down, according to Geoff Freeman, CEO of the American Gaming Association. Currently, Texas' state law on gambling prohibits any betting, gambling, promotion or related activity throughout the state, with strict enforcements on the law.

Sheridan recalled meeting a Big Apple bookie who in 1980 was raking in $250,000 a year just from "parlay cards", which offer bigger payouts to gamblers willing to bet on two or more teams. Players or coaches could be paid to "shave" points to, if not lose the game, win by a smaller margin than the point-spread line on wagering, they argued. That would require additional legislation or lawsuits.

Virginia has been slow to embrace any form of gambling in it's history, but with neighboring states like New Jersey, Pennsylvania, Maryland and West Virginia expected to quickly pass laws of their own, money not wagered in Virginia could go elsewhere. Breyer agreed with the majority that part of the law must be struck down but said that should not have doomed the rest of the law.

Silver also said the league would like to see a federal framework instead of a state-by-state system.

"We believe that regulation is the most effective way of ensuring integrity in competition, protecting consumers, engaging fans and generating revenue for government, operators and leagues", the tour said in a statement. "More discussion to follow at future league meetings".

Most sports books are likely to offer single-game bets, over-under bets, prop betting, teaser bets and parlays, as Nevada sports books do. "New Jersey has always been the lead advocate in fighting this inherently unequal law, and today's ruling will finally allow for authorized facilities in New Jersey to take the same bets that are legal in other states in our country", New Jersey Governor Phil Murphy, a Democrat, said in a statement.

Major League Baseball has issued a statement saying the Supreme Court ruling will have "profound effects" on the league.

Major League Baseball said it would continue supporting legislation "that creates air-tight coordination and partnerships between the state, the casino operators and the governing bodies in sports toward that goal".

In a 6 to 3 ruling, justices declared the Professional and Amateur Sports Protection Act unconstitutional.

As an example, Swoik cited the law that allowed video gambling, originally sold as a way to help existing bars, restaurants and charitable organizations. Trump's administration was on the opposite side of the case, opposing the New Jersey law championed by Christie. But a number of other gambling proposals are floating around the Capitol, including adding new casinos, regulating fantasy sports and placing slot machines at racetracks.

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