A recent decision by the Supreme Court means that sports fans will now have more opportunities to place legal bets on sports teams. On Monday, the Supreme Court voted 6-3 to end a 1992 law that deemed sports betting illegal across the United States. This comes on the tail of gambling sites like DraftKings being named illegal as users used it as a personal bookie to gamble on all types of different things. It is estimated that nearly $150 billion is spent each year in illegal gambling, and this recent decision will allow this to become a legal form of taxation.
With the recent Supreme Court decision ending that, some states are already capitalizing on the ruling. Five states, including Delaware, Pennsylvania, New Jersey, New York, and Mississippi, already have legislation in place allowing sports betting. This means that fans can turn away from casinos and to online betting rings, which sites like Draft Kings can now provide for them again.
Sports organizations like the MLB and NFL lobbied legislators hard for this decision. Legal sports betting means that there are no “boring” games anymore. From baseball to football to basketball to soccer, sports fans everywhere will be invested in every game each week. This obviously provides a huge boost to sports organizations as this means that fans will be tuning in even more religiously than they are now.
This is also a huge turnaround from March Madness and the Superbowl. Instead of planning trips to Las Vegas twice per year to place their sports bets, fans can place bets on games with huge earning potentials almost every week.
As this decision hits state legislatures, this could mean big changes to how gambling works in your state. From new casinos to race tracks to sports facilities, this Supreme Court ruling gives a large incentive to states to ensure that they can maximize their taxable revenue from sports betting.
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