The world of sports betting has just been seriously rocked, with the recent news that the U.S. Supreme Court has made an official ruling that could result in the legalization of sports betting across the United States. More specifically, the court addressed a 2014 state ruling in New Jersey, endorsing a plan to allow the type of betting in casinos and at horse racing tracks, also striking down the Professional and Amateur Sports Protection Act (PASPA) of 1992, which banned the forms of gambling in most states.
Following the move, share prices in gambling stocks across the U.S. and UK have shot up, particularly for William Hill (prices rose 10.5%) and Paddy Power (rose 9.4%). Others on the rise included 888 Holdings with a 14% increase and GVC Holdings with a more modest 6%.
Major sports bodies were not equally enthused with the endorsement, however, with one of them being the National Basketball Association.
In a statement from the Supreme Court, Justice Samuel Alito said: “The legislation of sports gambling requires an important policy choice, but the choice is not ours to make. Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”
Additionally, among the share price rises were some falls, including Wynn Resorts, which saw a 2% decrease.
While the news is still pretty fresh, only time will tell how all the players in the pool will adjust. Nonetheless, it is a milestone for the industry.
Source:
“US Supreme Court Paves Way For Sports Betting”, latestsportsbonuses.com , May 16, 2018.
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UIGEA - The Unlawful Internet Gambling Enforcement Act
Tweeksta 6 years ago Super Hero
this is great news for all those usa players that have been waiting a long time to hear this. still 2 more yrs of waiting to go but at least its getting there
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dewbee57 6 years ago Newbie
Well it's about time...I have been waiting for this for years. Was beginning to think I was never going to see it happen in my lifetime. Just like pot... guess times are a changing.
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sharpe 6 years ago Super Hero
I think that news have been expected for years not only from some of the world leading bookies but also from the US punters who were allowed to bet only mainly on DFS till now. Those who are aware of what's going on there said it would happen years ago and finally the times come, I like the fact that every state would...
I think that news have been expected for years not only from some of the world leading bookies but also from the US punters who were allowed to bet only mainly on DFS till now. Those who are aware of what's going on there said it would happen years ago and finally the times come, I like the fact that every state would decide for themselves whether or not sports-betting to be legalized but as a punter you'll have to hope yours would be one of those, or at least in the closest neighbour state.
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nirvana 6 years ago Super Hero
I wonder which State going to act first and how long its going to take others to follow
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cheztwins 6 years ago Hero Member
so will the new laws that allow sports gambling allow the 'gambling' to be done online? In this day and age I cannot imagine it wouldnt be. so this would be online gambling just on sporting / live events versus a slot machine or poker game. Makes little to no sense to me why USA ever started their crazy control over online...
so will the new laws that allow sports gambling allow the 'gambling' to be done online? In this day and age I cannot imagine it wouldnt be. so this would be online gambling just on sporting / live events versus a slot machine or poker game. Makes little to no sense to me why USA ever started their crazy control over online gambling in the first place.
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james jenicek 6 years ago Full Member
Hooray! It's about time. Now to legalize, tax, and regulate brothels. Another way of life that's looked down upon for some reason. Some people like sex and some just choose to pay for it. Go figure.
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Daniel Hughother 6 years ago Full Member
I mean, while I am excited for a turnover in the current laws, I can't really say it affects me that much. I play poker live here and on the internet, have made several large tournament cashouts and never heard a peep. The closest it came was some years ago i received some tax forms. In the long run the US is looking...
I mean, while I am excited for a turnover in the current laws, I can't really say it affects me that much. I play poker live here and on the internet, have made several large tournament cashouts and never heard a peep. The closest it came was some years ago i received some tax forms. In the long run the US is looking for ways to improve the government income without pissing people off.. hence the recent marijuana legal / tax and soon gambling / tax. Im almost certain if the uppers thought no one would bitch about it they would sling heroin on the street with a 35% tax.
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jewelnurse 6 years ago Hero Member
Yes about time now need to fix the banking act that scares banks to not let you use your own money from Visa Mc etc to bet with!!
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2Late4Me 6 years ago Hero Member
This endorsement will allow the USA Players to look forward to having fair gambling practice within the industry. We can now take a deep breathe and patiently wait for a big change. This is the best USA news I have heard for some time. Thank you for the article.
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Anchi 6 years ago Admin
This is a very big step for the US gambling industry. Let's see what will happen in the future.
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Markotik 6 years ago Admin
Great news indeed - this is definitively move in the right direction, which gives some hope to US players.
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daibo07 6 years ago Jr. Member
Very good news for US citizens
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MelissaN 6 years ago Almighty Member
It's a good news for the US players. Let's see what the future brings.
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LadyEnygma 6 years ago Full Member
Wow, this is great news! I haven't really tried the sports betting casinos, but I will now! How easy are placing bets? Do they let you play slots as well? I wonder if this is happening, will ALL Casinos accept USA players soon? Hmmm wouldn't that be great!!??
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Lipstick 6 years ago Admin
It's about darn time! We are getting closer to the big kahuna........CASINOS!!!!
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NatSteph 6 years ago Hero Member
A major milestone for the US gambling industry... curious to see what developments will come of this in the future.
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mafalda 6 years ago Sr. Newbie
This is huge! What a great news for US citizens!
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2fast4u 6 years ago Hero Member
hehehe i might be moving to US if this develops further :D
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Andreas_V 6 years ago Full Member
This is pretty huge news. I understand this will be exciting times for sports leagues and especially operators. Sportbetting is huge in many other markets, I can only imagine the scope it could reach in the US.
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blueday 6 years ago Almighty Member
Great news for US sportsbetting. I wonder what will be next for US gamblers...revoke UIGEA?
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