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Will it be a slam dunk for the US sports betting wagering restriction?
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By Natalie Sherman
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Business press reporter, New York
A restriction on sports betting in the majority of US states might be overturned by a case being considered by the Supreme Court.
The state of New Jersey is challenging the 1992 federal law that mostly forbade sports betting, explaining the matter as a "states' rights" problem.
The case, which started on Monday, follows New Jersey locals enacted 2011 to legalise sports betting.
A group of sports betting leagues opposes banking on games, which they fear will motivate match-fixing.
Lower courts have regularly ruled versus New Jersey, stating it is within the federal government's power to limit a state's policy choices.
The Supreme Court opted to hear the case however in the middle of a larger shift in American mindsets toward gambling.
Before 1976, Nevada - home of the Las Vegas strip - was the only state with legal gambling establishments outside Native American lands.
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But over the last few years, states hungry for tax income in the wake of the monetary crash have actually enacted a rash of looser gambling laws, gathering hefty levies on gaming profits.
There are now 24 states with industrial casinos - roughly double the number a decade back.
Despite the official ban, which already exempts Nevada and 3 other states, unlawful sports betting wagering is swarming in the US.
Americans position about $154bn in unlawful sports betting bets every year, according to the American Gaming Association.
The association's president, Geoff Freeman, described the federal restriction, external as an "utter failure" previously this year.
It says the UK is an example of a country where sports betting is prevalent.
"It's time for Washington to stop depriving states of crucial tax revenue and permit them to enjoy the rewards of a regulated market," Mr Freeman stated.
More than 15 states submitted documents in support of New Jersey in the event. A handful have actually currently passed laws to authorise sports betting in the event of a change.
'Times have changed'
On Monday, as lawyers started arguments for the Supreme Court, some more conservative judges appeared sceptical of the existing law.
The court is expected to decide in June 2018.
"If we are effective here we might have bets being taken in New Jersey within 2 weeks of a decision by the court," said outbound New Chris Christie after going to the court hearing. "We're prepared in New Jersey - we're prepared to go."
No matter the court's last ruling, Congress may also take up the debate amid broader conversation about online gaming and e-sports betting.
Even some of the professional sports betting leagues have started to alter their positions on the question of sports betting.
Adam Silver, National Basketball Association commissioner, supported a federal law that would create a consistent set of guidelines throughout the US. "Times have altered," he wrote in a 2014 opinion piece, external.
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Will it be a Slam Dunk for the US Sports Betting Ban?
romastillings6 edited this page 2 weeks ago