US Supreme Court Overturns a Decades Long Ban on Sports Betting

[Seetheummerallyeah]

The Supreme Court has struck down a 1992 federal law that effectively prevented most states from legalizing sports betting, clearing up a legal gray area and opening a door for state governments to join in what has become a lucrative industry.

"Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own," the court wrote in a decision released Monday.

Source


I was extremely surprised that the current right leaning court would be the ones to overturn sports betting but a 6-3 decision is a pretty strong one. This can only be a good thing for gambling, as there will be an influx of US bettors and more competition, leading to lower juices, better UIs, etc.

[Lionidas]

Many sports betting site had been run out of being allowed to operate in the US for this very reason.
I remember back in the late 90's the largest betting site named Bodog got run out of the country because of this law being instated.
It cost the company millions at the time and they moved operations to a more gambling friendly region of the globe instead.

[Hydrogen]

Donald Trump said he would try to get this passed if he were elected.   

Trump made his fortune in real estate. There's a story about Trump trying to build a casino in florida, years ago. He couldn't do it then and was blocked by lawmakers. This is a point the media attacked him on at least once. Being an owner of real estate puts Trump in a good position to build casinos which could be more profitable than hotels or things Trump normally builds. It probably will be money in the bank for him.

That said, I think many americans universally support this. There is economic good in the form of higher tax revenues, job creation and other benefits which com from introducing an entirely new industry into a state. This gives lawmakers yet another option aside from marijuana legalization or crypto adoption to boost much needed economic growth. One of the most talked about strategies for reducing deficit and debt via tax revenues growing at a potentially faster rate than liabilities.

There could be some negatives in the form of Nevada/Las Vegas no longer having a centralized market or the benefits of a quasi, psuedo, monopoly. However, I think many might contend positives will outweigh negatives. At least I hope that's how things will turn out.

It probably won't make a difference for me. My state has already illegalized fantasy sports sites like fanduel or draftkings. I doubt they will legalize sports gambling whatever the supreme court says, there is too much underground gambling and organized crime syndicates which run them have too loud a voice for things to change.

[audaciousbeing]

The Supreme Court has struck down a 1992 federal law that effectively prevented most states from legalizing sports betting, clearing up a legal gray area and opening a door for state governments to join in what has become a lucrative industry.

"Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own," the court wrote in a decision released Monday.

Source


I was extremely surprised that the current right leaning court would be the ones to overturn sports betting but a 6-3 decision is a pretty strong one. This can only be a good thing for gambling, as there will be an influx of US bettors and more competition, leading to lower juices, better UIs, etc.

I think its only fair for the court to overturn such judgement that have disenfranchised some people from making money out of what they are passionate about. I didn't know that such law exist though only thought that gambling sites disallowing US citizens on their sites is due to regulations and nothing else. But its sheer hypocrisy for a country that boast to have the largest home for casinos and other forms of gambling activities but against sport betting.

However, I think the basis for this is because they felt there is need for people to be free to do what they like if they can allow the LGBT to have their way, or those passionate about marijuana to do same, why not allow sport bettors have their ways also?

[avikz]

The Supreme Court has struck down a 1992 federal law that effectively prevented most states from legalizing sports betting, clearing up a legal gray area and opening a door for state governments to join in what has become a lucrative industry.

"Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own," the court wrote in a decision released Monday.

Source


I was extremely surprised that the current right leaning court would be the ones to overturn sports betting but a 6-3 decision is a pretty strong one. This can only be a good thing for gambling, as there will be an influx of US bettors and more competition, leading to lower juices, better UIs, etc.

Free and borderless economy is the future and such legal restrictions are not helpful to an economy. Sports betting is a billion dollar industry so you can imagine the kind of tax revenue US government can earn from it. I believe the US government is eying that revenue only especially when it has gotten into a import export duty war with another big economy like China and constantly on war with middle east. I welcome this step taken by the US supreme court as it will bring more competition in this industry and help it become organized while making the end users benefitted.

[game-protect]

If you use crypto currency sportbooks, is this article anyhow related?

[Seetheummerallyeah]

If you use crypto currency sportbooks, is this article anyhow related?

Just stop

[Clement Kaliyar]

Donald Trump said he would try to get this passed if he were elected.  

Trump made his fortune in real estate. There's a story about Trump trying to build a casino in florida, years ago. He couldn't do it then and was blocked by lawmakers. This is a point the media attacked him on at least once. Being an owner of real estate puts Trump in a good position to build casinos which could be more profitable than hotels or things Trump normally builds. It probably will be money in the bank for him.

I am really confused here, how can Las Vegas have casino's and it is the gambling capital of the world while the rest of the places in the US are not allowed to built them. I understand that different state can have their own rules and regulations. Since there is a lift in the ban of sports betting online sports betting will thrive as most of the online sites stop players from US and now they might lift those restrictions.

[JL421]

Many sports betting site had been run out of being allowed to operate in the US for this very reason.
I remember back in the late 90's the largest betting site named Bodog got run out of the country because of this law being instated.
It cost the company millions at the time and they moved operations to a more gambling friendly region of the globe instead.

That's what most sites had done because of this law i mean you can't really deny betting especially when things like esports has also become a major role , i have seen dedicated esports betting sites making big buck i think this is a really good decision and hope it get's legalised in many states

[Roboabhishek]

This is a great opportunity for the USA as it finally releases this, however, I do not think it will severely affect the “high-rollers” as they most probably found a way to do it, whether it be using crypto to gamble or an underground website. The increase in the economy would be dramatic in the long run as restrictions based around on how people can spend their money just restricts the economy.

[tokeweed]

I hope they do the same for online poker.  The UIGEA has been put to law since 2006 and it isolated the US online poker players from the rest of the world.  It also banned US based poker sites from operating in some states killing the industry in the country...

Sucks for online pros.  Some of them even migrated to Asia just to continue playing online.

Edit:  The best congress could do is to amend the UIGEA to make online poker exempted from it.  It's a skill game ffs, not gambling.

I know most of you have no idea what I'm talking about.  But avid poker players who were active during the 'Moneymaker' era the the effects of the UIGEA quite well. 

[Juggy777]

I would take this news with a pinch of salt while they'll legalise it they'll have to pay taxes, now if a gambling site or company is paying taxes they'll pass the buck to users which reduces our earnings. Secondly if bitcoins sports sites are under scrutiny the authorities shall compel them to lift the veil on whose playing so for fiat gamblers it good for bitcoins users I'm not sure this is a good idea at all, but I do agree with others that many shall indeed benefit I just hope there is no witch hunt on those who do not declare their assets.

[joebrook]

The Supreme Court has struck down a 1992 federal law that effectively prevented most states from legalizing sports betting, clearing up a legal gray area and opening a door for state governments to join in what has become a lucrative industry.

"Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own," the court wrote in a decision released Monday.

Source


I was extremely surprised that the current right leaning court would be the ones to overturn sports betting but a 6-3 decision is a pretty strong one. This can only be a good thing for gambling, as there will be an influx of US bettors and more competition, leading to lower juices, better UIs, etc.

For the USA, it's all about making money and by legalizing sports betting, this is going to create a very large revenue stream for most states. Which means more and more people are about get homeless if they don't take care.

[Rinsend]

with the switching of the fiat currency gamblers to bitcoin, this would be one of the biggest gambling opportunities based on bitcoin currencies, with this possible gambling being one of the biggest advantages because tax revenue from gambling is one of the largest that the state has . news about the long Ban on Sports Betting is very exciting news

[Hydrogen]

I am really confused here, how can Las Vegas have casino's and it is the gambling capital of the world while the rest of the places in the US are not allowed to built them. I understand that different state can have their own rules and regulations. Since there is a lift in the ban of sports betting online sports betting will thrive as most of the online sites stop players from US and now they might lift those restrictions.

Las Vegas has an arrangement near to a centralized monopoly over legal gambling in the USA. There are wealthy casino owners in Vegas who have political clout and money they throw at federal lawmakers to deter gambling being legally recognized on a broader scale. Many US states have organized crime syndicates which run underground gambling ops. They too do not want large scale support for internet gambling for fear that their clientale will shrink if they were able to gamble more conveniently from the privacy of their own homes.

Then there may be other demographics who do not want the US economy to grow or expand from additional revenue and job creation which could occur from states legalizing gambling. The economy of california alone is larger than many european states including germany. If the US economy grew larger & richer, it could gain political influence, become more powerful and perhaps some foreign powers do not want that.

[Gintama214]

Sports betting has been the nature of people and many are really into gambling with sports. In my opinion, this decision by the US Supreme court would actually help the government earn more money by asking for tax and other fees in gambling and they want to regulate it to see how much revenue they can get with it. They want people to gamble more and to take the risk of being broke for their own benefits. I don't know how government gets a lot of money but still there are many homeless people on the streets which they really don't care about them.

[leowonderful]

States can still have their own regulations regarding sports betting, but I'm glad that this ban has finally been overturned; I haven't heard of this anywhere else besides this thread- I'm also glad that I can count on the forums to present accurate news some of the time . The motivation for this is almost certainly tax revenue like the users above me have posted, but this is a good start towards more forms of gambling becoming legal. Crypto was one workaround to this ban that I'm sure many people used to continue sports betting after the ban took effect, but I expect crypto sports betting will continue to be somewhat popular in the future.

[Qartersa]

I thought sports betting was totally legal in the US, apparently it was only legal in only 4 states and only Nevada (where Las Vegas or the gambling capital of the US is) has completely legalized sports betting.

Probably the reason is plain and simple, that if someone has a huge stake on a game, he will do everything and even shady actions to make his bet come true. Remember Micheal Jordan? His father died due to the fact that the mafia wanted Jordan to sell the game, but he didn't so they killed his father. This might be the reason why sports gambling was made illegal, to prevent sports games from being manipulated.

Well now, I guess it will be a lot more free to gamble on sports in the US with this decision but still requires states to legalized it themselves.

[game-protect]

If you use crypto currency sportbooks, is this article anyhow related?

Just stop

If you are not able to answer my question, why bother?