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Sports betting ruling good news for Catskill casino

15 May 2018
Sports betting ruling good news for Catskill casino

The sports world is reacting to the Supreme Court's decision to strike down a federal law that banned gambling on football, basketball, baseball and other sports in most states. That could create an entirely new advertising category that radio managers might want to keep their eyes on.

The ruling endorsed New Jersey's bid to allow sports betting and struck down a 1992 federal law that widely prohibited the practice, potentially adding a new line of business for many casinos and for betting technology providers such as Scientific Games and International Game Technology IGT.N .

Kelly expects some states such as New Jersey, Pennsylvania and West Virginia to move quickly on setting up legal sports betting operations, with NY not too far behind.

"As each state considers whether to allow sports betting, we will continue to seek the proper protections for our sport, in partnership with other professional sports", Major League Baseball said in a statement.

New Jersey first tried to legalize sports betting in 2012 during then Governor Chris Christie's first term. Mississippi, Pennsylvania, New York, Delaware and West Virginia could follow soon, and the number of states might reach double digits by the end of the year.

As for the Colorado Gaming Association, they said they will spend the next several months analysizing the potential impact on legalIzed sports betting in Colorado. Justice Samuel Alito said in his majority opinion that Congress can directly regulate the sports betting industry but if it chooses not to, it can't prevent individual states from doing it. Bevin is a strong supporter of states' rights.

"I know that there's a strong contingent that would support it and push for it", he said.

"There is not an immediate effect of the ruling on Montana".

Gutwald believes casinos can offset losses with new players.

DraftKings plans to use those relationships with lawmakers to push into sports betting.

In a statement, they said that they see the "expansion of sports betting as a growth industry".

In Texas, the idea of legalizing sports gambling is a tougher sell.

MS though plans to take advantage. "The problem with that is a lot of avenues are pretty sketchy at this point whether it's off-shore gambling or betting with an underground bookie", said Beville.

Rep. Jake Highfill, R-Johnston, the author of a House bill to legalize sports betting, expects to push the issue early when the Legislature convenes in January.

Statistics from the agency responsible for promoting Las Vegas show 74 percent of the city's 42.2 million visitors in 2017 gambled during their trip, but it is unknown how many of those placed bets on sports. Today's 6-3 decision will enable each state to decide if it wants to permit sports-related gambling, which is something that a number of states are considering as part of an effort to raise tax revenue. The four major professional sports leagues and the NCAA sued, and the state lost in court.

The ultimate goal is online gambling, he maintains.