Sports Betting Doors Blown Wide Open
This past Monday the Professional and Ametuer Sports Protection Act was deemed unconstitutional by the US Supreme Court. The law, that was enacted in 1992, stated that states were prohibited from authorizing or licensing sports betting. Now, this never stopped or even slowed betting, but of course, it was under the table, for the most part.
This will now open up a lot of questions as to where and how we go from here. This came about because of the Tenth Amendment and what it actually says. What is says is: The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people. Meaning that the since the government did not regulate gambling, states are free to act on their own behalf.
There are some states that will look to take advantage of this ruling within the next 60-90 days. A state like New Jersey has Monmouth Park Racetrack and they are expected to be one of the first places to offer sports betting. Other states like Mississippi, West Virginia and Pennsylvania passed laws in anticipation of this historic decision.
There will be rippling effects from this decision as well. Professional sports leagues will now look to capitalize on this by inquiring about a fee on the best that are placed because it is their product that will allow many to benefit. There will have to be clauses put in so that players, referees and other tied to the games will not be able to bet on games. You can bet that pro leagues will want to demand a cut of the action.
Another route for all of this is when sports betting goes online and have apps created for simplicity and convenience. Of course, there will be legal red tape each state will have to go through to cover themselves. The federal Wire Act will have to be taken into account as well. They will have to monitor it state by state. So much is going to go into making this work.
Now, I hate to bring it up, but what about the politicians. I say this because we know that if the cash is flowing, politicians want to get their hands on some too. Again, I say this only because of the culture that has been created by greed and power.
This will not be easy to implement, but one thing is for sure. The world of sports gambling will never be the same again. Some naysayers will talk about the pitfalls of addiction and how this may bring about more crime. People get a bit crazy when they have to figure out a way to pay for their habits.
However it goes down, this was one historic landmark of a decision that will have effects near and far. Look for this to be in high gear in time for the number one sports in America, the National Football League.
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