Odds Drop on Sports-Betting Ban As Supreme Court Hears New Jersey Case
At the U.S. Supreme Court on Monday, the justices signaled they may be prepared to strike down the federal ban on sports betting.
Enacted 25 years ago, the law prohibits states from legalizing sports betting, except where it was already legal. That exemption applied to Nevada, Delaware, Montana, Nevada and Oregon.
But now, with estimates of illegal betting running at $150 billion annually, cash-starved states are getting itchy.
The 1992 law was sponsored by former basketball great Bill Bradley, who served three terms in the U.S. Senate. On Monday, New Jersey’s outgoing Gov. Chris Christie carried the banner for getting rid of the Bradley Act.
“If the federal government wants to pass a law to regulate and preempt, they have the right to do that,” Christie said on the steps of the Supreme Court. “They didn’t do that here. They foisted that upon us, on the people of the state of New Jersey, who voted 65 percent in 2011, that they no longer wanted this law.” [Read More @ NPR]
Rob Meagher, CBE’s Founder, President and Editor-in-Chief is a 30 year veteran of the media world. His career has spanned from stints representing the Washington Post, USA Weekend, Reader’s Digest, Financial World & Corporate Finance to the technology world where he worked at International Data Group and Ziff Davis where he was part of the launch team for The Web Magazine, Yahoo Internet Life, Smart Business and Expedia Travels before starting his own marketing and Publisher’s Representative Firm. He also ran all print and online media sales and marketing for the Society for Human Resource Management before partnering with Forbes and then Fortune to create Special Sections covering a variety of topics. Rob, who started CBE Press in 2014, can be contacted at [email protected]
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