sports betting regulations<\/a> this year. Along with New Jersey, Pennsylvania and Connecticut have already passed such legislation into law.<\/strong><\/p>\n<\/div>\nThe American Gaming Association estimates that $150 billion is bet illegally in the US each year. The lobbying firm believes a regulated industry would better protect both consumers and the sports leagues, and would only increase engagement and interest in the NCAA and Big Four.<\/p>\n
PASPA Odds<\/b><\/h2>\n
SCOTUS is expected to issue its ruling on PASPA any day now. The court is reviewing whether New Jersey can pass statutes that repeal the regulations included in the federal anti-sports betting law.<\/p>\n
The general opinion among law and gaming experts inside the Supreme Court hearing in December was that a majority of justices seemed to side with New Jersey. But as SCOTUS continues to delay its PASPA opinion, those sentiments have shifted slightly.<\/p>\n
PredictIt, an online prediction market that allows users to buy and sell shares of political outcomes, has shown dwindling confidence in a favorable ruling for proponents of legalized sports betting.<\/strong><\/p>\nThe platform’s exchange asking “Will Supreme Court rule against federal sports betting ban?” has gone from “Yes” trading at more than 90 cents in March, to as low as 62 cents earlier this month. However, those shares have regained some of their value over the last week, with the current price at 70 cents.<\/p>\n","protected":false},"excerpt":{"rendered":"
If New Jersey successfully wins its sports betting case, numerous states across the country that are interested in legalizing such markets might want to extend their thanks to the Garden State. Financial billing records provided by the New Jersey Division of Law to the Press of Atlantic City shows that law firms representing the state […]<\/p>\n","protected":false},"author":42,"featured_media":77237,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,13,61,1074],"tags":[],"acf":[],"yoast_head":"\n
New Jersey Sports Betting Legal Fees Adding Up, Bill Over $8.5M<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n