Despite much lobbying from casinos and gambling firms, the Supreme Court did not budge on their stance towards sports betting in New Jersey. The highest court in the United States ruled that the ban on sports gambling would remain. Casinos were hoping that they would be able to take bets on sporting events both at the professional and college level, but they will have to wait another few years.
The idea to legalize sports betting in certain spots was led by the governor of the state, Chris Christie. He put forward the point that a lot of money was being gained by illegal sports betting operations in the state. By legalizing this form of gambling at casinos, the state could regulate sports betting. In addition, they could claim substantial amounts of money through taxes.
Despite the efforts, Christie was not too disappointed by the verdict. He expected them to lose at the Supreme Court, but said it was worth the effort to try.
There are arguments in New Jersey that the Supreme Court is overstepping its bounds. The SC’s argument is that the United States Federal Law does not allow for sports betting outside of Nevada. However, New Jersey congressmen are set to argue that recent marijuana laws in Colorado and Washington counter that point. While marijuana is illegal on a Federal basis, it is legal in those states. If it is okay for marijuana, why not sports betting?
For what it is worth, residents of New Jersey would be happy to see a legalization of sports betting. There was a referendum held in 2011 where a vast majority voted in favor of making sports betting legal. Statistics show that almost $500 billion is spent by gamblers on illegal sports betting, which makes it a lucrative industry for both casinos and the government.
The future of sports betting in New Jersey is definitely up in the air right now. Many gambling researchers believe that it is vital for NJ lawmakers to push through legalization in the next few years. The fall in profits at Atlantic City casinos needs to be halted, and sports betting is seen as the only way to make that happen.
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