New Jersey pushes to legalise sport betting
Twelve judges learnt the state’s plan to legalise the introduction of sportsbooks to its casinos and racetracks.
US.- The state of New Jersey with the help of Lawyer Theodore B. Olson, must convince seven of the twelve judges to pass the plan to legalise sport betting. The four major sports leagues and the NCAA are represented by Paul Clement and they are concerned about the repercussions the legalisation may have in their industry. Daniel Wallach, a lawyer at Becker & Poliakoff, shares his impressions regarding the verdict: “Look for either an 8-4 or 7-5 victory in favour of the leagues. I don’t expect New Jersey to raise the white flag if it loses. The state is nothing if not persistent.”
On the other hand, the PASPA (or Professional and Amateur Sports Protection Act) was established in 1992 and it has been a formidable barrier as it expressively prohibits 46 states from licensing, sponsoring or authorizing sports betting. Last week, though, Pennsylvania passed a resolution requesting the Congress to repeal PASPA, changing the game completely.
The reason why so many states want to implement sports betting is the potential of the market. The amount of US$4.2bn was taken in wagering last year in Nevada, where sport betting is legal.
In six months, the judges will pass the verdict, which may set a game-changing precedent. DraftKings and FanDuel, the strongest players in the industry, know the impact this decision will have towards the legalisation of Daily Fantasy Sports (DFS) in the US.
