The Supreme Court just overturned a 1992 ban on sports betting and gambling. So that means for the last 26 years, basically the only place where anyone in the US has legally been allowed to place bets on sporting events (outside of horse racing and maybe a few other exceptions) has been in Vegas, or in the state of Nevada actually.
Now that will no longer be the case.
This opens the doors for any state to set up regulations and frameworks for any resident to gamble as they wish. So, some states won't. But many states will. New Jersey, Pennsylvania, Mississippi and West Virginia have already passed bills in anticipation of this ruling. So they can be up and running in short order. Expect many states to follow suit.
Gets more interesting, as the NBA and MLB are looking to take a cut, right from the get go. They want to institute what they are calling 'integrity' fees. This would be a 1% fee for all sport's betting across the board, if the bet has to do with their league, so they can pay for arrangements with gambling associations and also use that money to further ensure the quality of their product (the game itself) is not sullied by gambling pressures.
So basically they want their cut because they say the integrity of the game could be harmed with massively increased gambling in the US, and as well as just because, hey, they created the game, so.. gimme gimme.
What do you make of all this? Do you think this was a smart move by Congress? Do you see yourself gambling on sports now that your state might make it fully legal?
Also of note, the NFL is NOT for this. MLB and NBA are, and are looking at it as an additional revenue stream, as well as the PGA, and you guessed it, the NCAA too.