The Issue: The Supreme Court opens the door for expanded legal gambling.Our Opinion: State and industry leaders should proceed with caution as they expand gambling.
As that preparation gave way to this week's new reality, team owners and league officials reacted with optimism and a touch of caution. The beauty of the Union is that no two states are alike and we can all get ourselves to states where the laws are more to our liking. States and sports leagues are eager to make as much money as possible from this newfound and potentially tremendous source of revenue. "We're going to have to engage even more than we have and be prepared to ask for the things we need in legislation to protect the integrity of our game". Some estimates have put it at as much as $150bn per year. The state passed laws allowing for sports betting but its legal right to do so was challenged in the Federal Courts.
"The potential for a dramatic increase in sports betting caused some gaming related stocks to pop in trading on Monday, May 14", said Markit in a note out Tuesday. "It will bring new revenue into the economy, creating jobs and growing our tax base". Fantasy sports websites and the Lottery also want in on the windfall and aren't anxious about safeguards protecting gamblers. Plus, with states legalizing sports betting in a piecemeal fashion, illegal operators will continue to be more convenient for many bettors.
Sleight, who has guided many clients through the tangle of state gaming law, agrees the process of setting out rules and regulations, and then issuing licenses to operate, will take time. But the rapid rise of the Internet means that sports betting across state lines is now just a click away.
"Yes, we've enjoyed a monopoly or a near monopoly on sports betting, but Las Vegas benefits when there there's interest in our field, in our field of entertainment sports, sports betting, gambling in general", said Jim Murren, the chairman and CEO of MGM Resorts International.
While some predicted wholesale changes ahead, others pointed out that gambling already exists: in Nevada, via office pools or on offshore online sportsbooks.
Cuomo told reporters Monday that's not likely. "We have to adapt to it, I think, a little more readily than some folks would like to". "I think it's too early to make any definitive comments about it, but it's definitely something I know we'll talk about". Scoreboards could post live odds next to runs, hits and errors. With being able to bet on sports instead more people will be here in Vicksburg.
Also in 1992, the Supreme Court began enunciating the "anti-commandeering" doctrine: The federal government may not pursue its objectives by requiring states to use, or refrain from using, their resources for those objectives. "We look at this as an amenity that we can offer our customers. My inclination is to say they won't". "We remain in favor of a federal framework that would provide a uniform approach to sports gambling in states that choose to permit it, but we will remain active in ongoing discussions with state legislatures".
"The NFL's long-standing and unwavering commitment to protecting the integrity of our game remains absolute", NFL spokesman Brian McCarthy said in a statement. Sports betting will only be allowed inside casinos in Mississippi.
A coalition of states fought alongside New Jersey, saying in court briefs that if SCOTUS ruled against their side, "Congress could compel the entire machinery of state government - legislatures, executives and courts - to maintain and enforce repealed state laws at the behest of the federal government".
The National Organization for the Reform of Marijuana Laws (NORML), says it could have positive implications for legalization in terms of states' rights.