Published: Thu, May 17, 2018
Sports | By Johanna Francis

Sports betting to be studied by legislative panel

Sports betting to be studied by legislative panel

After New Jersey voters overwhelmingly supported the legalization of sports betting in a non-binding 2011 referendum, the state legislature enacted a law authorizing sports betting at racetracks and casinos.

The Supreme Court's ruling Monday authorizing state-sanctioned sports betting could have profound implications for a host of other issues. Legislators are considering what new rules and regulations are necessary to protect consumers and what role those sovereign nations should play.

While it will take some time for the state Legislature to iron out the details, the time to begin is now.

The Surpeme Court struck down a 26-year-old federal ban on sports betting on Monday, allowing states to decide whether they want to allow legal wagers on football, basketball, baseball, hockey and other games.

Savvy businesspeople are also likely to create new gambling products that aren't specifically addressed by state laws, just as daily fantasy sports companies did while the federal ban was in place. A good chunk of that money is being wagered by Illinoisans, but not a dime is entering state coffers because it is being illegally spent. AGA President Geoff Freeman described the high court's opinion as "a victory for the millions of Americans who seek to bet on sports in a safe and regulated manner".

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The American Gaming Association (AGA), which represents the USA casino industry, has long opposed the 1992 Professional and Amateur Sports Protection Act, contending it has resulted in an annual illegal sports betting market of $150 billion. The decision - which reversed opinions by lower courts - means states may legalize and operate betting on professional and college sports. The law also enabled Delaware, Montana and OR to have limited legal sports gambling.

"We'd be naïve if we didn't believe that sports betting is already happening within our borders right now", said Senate Floor Majority Leader Greg Treat, R-Oklahoma City.

Bosma has said he is not a fan of expanding the gaming industry in Indiana. "I don't think that's a fight you're wanting to pick, especially with the Thunder here in Oklahoma City".

Webis said that draft legislation is already in preparation in 17 USA states, including California.

"We're partnered with the state".

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