It’s about to get real in the field.
Today (May 14), the Supreme Court paved the way for sports gambling to come to a state near you after declaring that states banning sports betting was unconstitutional and have no right to prohibit any such gambling.
According to CNN: “The legalization of sports gambling requires an important policy choice, but the choice is not ours to make,” Justice Samuel Alito wrote in the 6-3 opinion. “Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”
The effect is already being felt as the stock price for Caesars Entertainment jumped 6% (and will more than likely continue to rise), and DraftKings already said they will enter the sports betting arena.
Everything started back in 2011 when New Jersey voters approved a measure to legalize sports betting in an effort to help the casino industries in a faltering economy. But of course the state law was immediately challenged by professional sports leagues and even the NCAA, when they pointed out a 1992 federal law that bans state sports betting.
The lawsuit itself was brought by the most hated former-Gov. in New Jersey’s history, Chris Christie, but the current New Jersey Gov. Phil Murphy has found himself basking in his state’s the victory.
“I am thrilled to see the Supreme Court finally side with New Jersey and strike down the arbitrary ban on sports betting imposed by Congress decades ago,” Murphy said Monday. “Today’s ruling will finally allow for authorized facilities in New Jersey to take the same bets that are legal in other states in our country.”
And though Christie disappeared into the void since Murphy took over office (much to everyone’s delight), he did express his happiness with the decision on Twitter saying it was “A great day for the rights of states and their people to make their own decisions.”
But don’t expect to be able to bet on the upcoming NBA Finals just yet (Warriors in 4 regardless of who makes it out the east), it’s still not determined whether or not congress will try to enact some kind of federal regulation on sports betting or just leave everything up to the states themselves.
Either way we’re all ready to bet on any and everything in the sports world. Well, maybe not the Knicks.
Now if only the Supreme Court would legalize marijuana already…