A Sports Book Is Coming To A Betting Parlor Near You

A Sports Book Is Coming To A Betting Parlor Near You

State lawmakers from both parties were jubilant yesterday after the U.S. Supreme Court issued a major ruling in favor of New Jersey's longstanding push to allow legalized sports gambling. That could create an entirely new advertising category that radio managers might want to keep their eyes on. The law had allowed states like Nevada to have massive sports books.

Boston-based DraftKings, which takes online wagers on daily fantasy-sports games, said it's been preparing to launch a real-life, sports-betting operation and expected to get permission from several states before the start of football season in September.

That bet paid off Monday when the Supreme Court struck down the national ban on sports wagering. One exception is DE, said Daniel Wallach, a sports gaming law expert and attorney at Becker & Poliakof, noting that the state already as infrastructure in place and doesn't require any legislative tweaks. States that want to offer legal sports betting may now do so. Some states, like New Jersey, West Virginia, and MS, have already passed laws allowing them to set up Las Vegas style sports books in their states.

While New Jersey and DE could have betting windows open soon, states such as West Virginia and MS are also poised to move quickly.

Broadcast attorney John Garziglia tells Radio Ink he believes this could lead to another advertising category for radio. "The problem of gambling is only going to get worse by allowing states to advertise and operate sports betting". Las Vegas now has an National Hockey League team and will soon have an NFL team, and the NBA's commissioner has called for legalizing sports betting so it can be properly regulated. Lower courts had ruled against New Jersey's law. "People enjoy betting on sports".

The state Gaming Commission, which regulates the Lottery, race tracks, video lottery games and charitable gambling, would then promulgate regulations governing sports betting at any venues authorized by legislators, officials said.

"Iowans know that we will probably have to move with the times. I think one of the biggest things we need to do is education moving forward", said Rep. Alan Morrison, (R) Terre Haute.

One potential legalization hurdle involves the "integrity fees" being sought by sports leagues in exchange for endorsing gambling on their match-ups.

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If lawmakers wanted to add sports betting to gaming, Hartman said he thinks it would require a vote of the people.

"If Indiana passed a law and decides to tax legalized gambling, that could generate millions maybe even tens of millions in revenue per year", said Grow.

Senator Keenan said whether DraftKings participates in legal sports gambling in MA will be decided by the legislature.

In 2011, voters in New Jersey approved a ballot measure legalizing sports betting, hoping to revive their state's gaming industry.

Florida has a compact with the Seminole Tribe that gives them a monopoly on card games like blackjack, but the future of the agreement is in limbo, and sports betting could add a new element to negotiations.

MA is expected have three regional resort casinos and a slots parlor up and running in the next several years, including a 24-story resort along the Everett waterfront. Almost 20 states have introduced bills that could legalize sports betting, and a 2017 report from Eilers & Krejcik Gaming estimates that as many as 32 states could offer legal sports betting within the next five years. Critics have raised fears that legalized gambling could make "points shaving" or other forms of corruption more prevalent.

Shares of William Hill, the British bookmaker, plunged by 12 per cent last month after a report that the British government was going to reduce the maximum amount bettors could wager at fixed-odds betting terminals.

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