It hasn’t taken long for the Supreme Court ruling passed down in May on sports gambling to make waves in the sports and entertainment industry. And waves it will make to be certain.
But first, let’s clear up one thing – the court’s 6-3 decision only overturns the 1992 federal law that prohibits betting on sports. It does not legalize sports gambling. It only makes it possible for states to make their own decisions on the issue.
This issue first rose to the surface when New Jersey voters approved sports gambling legalization way back in 2011, only to have opponents of the issue point to the 1992 federal law and win in court.
Then in 2014, New Jersey tried to again pass legislation that would allow sports betting, but only in racetracks and casinos. The 1992 federal law prevailed again in court, prompting New Jersey Governor Chris Christie to take the case to the Supreme Court.
Eighteen other states have sided with New Jersey on the issue. And now the Supreme Court has as well.
Ok so sports books aren’t going to pop up everywhere tomorrow. But this court ruling is likely to be the start of a tectonic shift for the sports industry.