Supreme Court decides the future of sports betting

WASHINGTON, D.C. (CNN) – When it comes to sports, betting has always been around. In Nevada it’s been legal. But everywhere else in the U.S.—not so much.

That’s all about to change though after a recent Supreme Court decision.

Ted Leonsis is the owner of sports teams like the Washington Wizards and Washington Capitals. He said, “This is the biggest new pot of revenue imaginable.” And imagine what a Stanley Cup Finals game might look like years down the road. Leonsis commented, “Could be something to the effect of you’re not betting on the hockey game, the playoff game tonight, you’re betting on who’s gonna win the first period, the second period, the third period.”

Now, the ruling from the Supreme Court doesn’t mean sports betting is all of a sudden legal everywhere. Instead it just opens the door for states to decide

Randy Barnett is a professor of Constitutional law at the Georgetown Law Center: “Up until this point, if the states tried to do that, they might be accused of actually aiding and abetting illegal federal conduct.”

The CEO of MGM Resorts International said, “We are already working with regulators to bring legal sports wagering in the states where we operate.”

And all of the major pro sports leagues are open to the coming possibilities, but emphasize a commitment to maintaining the integrity of their respective games.

The NCAA—where notably athletes are not paid—is still reviewing all of the implications. But their chief legal office said, “We will adjust sports wagering and championship policies to align with the direction from the court.”

Utah Senator Orrin Hatch was one of the four original authors of the 1992 act struck down by the Supreme Court. He said there needs to be federal standards in place and that he plans to introduce legislation on the issue.

Professor Barnett said, “Anybody who wants to bet on sports can bet on sports now. The question is how convenient is it going to be? And I suppose for some states, whether they get a piece of the action.”

And many of them are already capitalizing. Delaware’s full-scale sports gaming operation is ready to go. People will be able to bet on single games for major pro sports including golf and auto racing.

Other states like New York, West Virginia and Mississippi have already passed laws to allow casinos to take sports bets once the federal law was struck down.

Leonsis said, “This is just a way to get deeper into that exploration of what it means to be a fan. I think we need to get it out of the notion of ‘it’s gambling.’ It’s less gambling than it is buying a stock on Wall Street.”

But any transition to that mindset is going to be a gradual one, coming state by state. And it’s one that by at least one estimate could bring in revenue measuring in the billions.

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