Summary: Many states have struggled with allowing sports betting to be legal but the chances of large revenues are tempting.
The United States Court of Appeals for the Third Circuit continued their discussion about whether New Jersey will make betting on sports legal. The panel of 12 judges met to hear arguments over the state’s plan to allow sports books in its casinos and racetracks.
New Jersey’s Betting Law Strikes Out
Nevada, where sports betting is legal, is a perfect example of the potential for revenue. They brought in $4.2 billion. This number is in comparison to the over $400 billion that is bet each year by bookies, many of which are controlled by organized crime or offshore betting operations.
Wanna Bet Who’ll Win? U.S. Government Joins Lawsuit against Sports Betting in NJ
New Jersey, like many other states, would like the opportunity to capitalize on the millions of revenue that could be gained by allowing residents to book on their sports teams. The Professional and Amateur Sports Protection Act (Papsa) oppose any state from allowing the authorizing, sponsoring, operating, or licensing of sports betting. Pennsylvania has asked Congress to repeal Papsa. Other states are waiting to make their move depending on what Congress does.
Christie Betting on Supreme Court to Save Sports Betting Law
New Jersey Gov. Chris Christie signed a sports betting bill into law in January 2012. They have been fighting against national sports organizations ever since. Two former United States solicitors general are leading the arguments. Theodore B. Olson is arguing on behalf of New Jersey while Paul Clement is representing the N.C.A.A., N.F.L., and other sports leagues.
Photo: complex.com