Lawmakers poised to start sports betting in NY

Sports betting legislation "fever" has officially struck the iGaming industry, as the United States Supreme Court ruled in favor of statewide sports betting interests Monday by striking down PASPA prohibitions that have been in place since 1992. That could create an entirely new advertising category that radio managers might want to keep their eyes on.

"MGM Resorts International applauds the Court's decision to allow states the opportunity to protect consumers, and benefit the public by regulating and taxing sports betting".

It does not mention sports betting, which, until now could occur only in Nevada where such gambling predated the federal law.

Major League Baseball Commissioner Rob Manfred and National Basketball Association Commissioner Adam Silver have known for some time that legalized sports gambling was coming and in fact Silver has embraced the concept because it might expand the NBA's fan base.

House Minority Leader Brad Jones, R-North Reading, said tax revenue from sports betting would be good for the state budget - which has struggled through deficits since the recession - and open a new revenue stream for aid to cities, towns and schools.

Betting on gambling cash: Many people are already betting that Arizona's sports-gambling haul would be funneled into education or other pressing needs. "And I don't believe those isolated and rare incidents will increase when betting on sports becomes widely available".

Given the current size of the sports betting black market in the United States, estimated to be around $60 billion annually, it is estimated there are 44 million potential customers. The golf circuit has also engaged data and integrity company Genius Sports to monitor betting on tournaments and players. "In Alabama, sports gambling is already against the law and the Court ruling does not alter that fact".

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The company had been working on a sports betting product that would let people gamble on the outcome of games or point totals - options it wasn't allowed to offer before Monday's ruling. "This is massive news that we have been expecting for some time".

Brnovich, a former Arizona gaming director, cautions that sports gambling isn't a hugely profitable business.

He lives in Oklahoma and flies to Vegas to legally place bets on sporting events for clients. Today's ruling makes it possible for states and sovereign tribes to give Americans what they want: "an open, transparent and responsible market for sports betting".

While the ban has been lifted, it is now up to the states to determine whether they will individually legalize gambling. Chris Christie as lead plaintiff in the Supreme Court case - hailed Monday's ruling and said he'd work with lawmakers to authorize and regulate sports betting "in the very near future".

Republicans Mark Blasdel of, a senator from Kalispell, and Forrest Mandeville, a representative from Columbus, both told us they might vote for a sports gambling bill if it were presented in the right way. There would also be a 1.25 percent tax levied on revenue generated from sports betting at racetracks, with those funds provided to host municipalities and counties.

There was a seven-year lull between Pennsylvania's last big move on gaming, the 2010 law that allowed table games in casinos, and last year's expansion.

Even 14-time World Series of Poker bracelet victor and Poker Night in America's inaugural King of The Hill Phil Hellmuth struck up a sports betting legislation convo with his social media followers... although the Poker Brat's observations were quickly called on the carpet by iGaming analyst Steve Ruddock.

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