Will sports betting finally get its day in the open?
Betting has been a part of sports ever since sports became a thing, but the one issue, at least in the United States, is that, for the most part, the activity is actually illegal. Sports betting has always raised several ethical questions, but the fact that people still do it illegally has prompted several states to finally ask the Supreme Court to examine the activity’s legality and possibly make it legal in more places than just Las Vegas.
The illegal sports betting industry is currently worth $150 billion per year, so it’s quite obvious why individual states would like to get involved in making money off of it. But there are arguments from the four major sports leagues that legalizing betting would affect the integrity of their games, but this train of thought is questionable since many higher-ups in the NFL like the idea of allowing widespread betting.
New Jersey is leading the legal charge, arguing that the 1992 law against widespread sports betting was illegal because the court was overstepping the bounds of its powers. Regardless, there are several issues and obstacles between legalizing the betting.
Some states were able to legalize sports betting within one year of the law’s passing, but New Jersey failed to act, and now the state is trying to make it happen after nearly 25 years, so that’s a slight issue. Another one is that it isn’t clear how things like taxes would be factored into the law.
All in all, sports betting would represent a boon for each state economy, but the legality of it is still questionable. It’ll be interesting to see how this court case pans out.