The upcoming trial on constitutionality of PASPA could see sports betting legalized across the United States, bringing in billions in revenues over the next few years.
In the upcoming weeks, the US Supreme Court will be deciding on the legality of sports betting, potentially putting this activity back in the legal zone. Should this happen, the country could make huge gross revenue estimated between $2 and $5.8 million in a period of five to seven years after the legislation.
PASPA Constitutionality Challenged
The case was submitted to the Supreme by New Jersey, arguing that PASPA, the Professional and Amateur Sports Protection Act, the main obstacle to legalized sports betting in the States, was against the constitution. Passed in 1992, PASPA effectively limited any betting activities to just a few states, namely Nevada, Delaware, Montana, and Oregon.
According to the reported submitted by GamblingCompliance, should New Jersey win and PASPA is overturned, this could kick start the development of this gaming sector in more than 20 states, which should come to fruition by 2025.
Some of the obvious candidates that are believed would be among the first ones to take advantage of this change are the states that already have regulated casinos, such as Pennsylvania, Illinois, New York, Ohio, Mississippi, and, of course, New Jersey.
A Lot on the Stake
Should New Jersey lose the case and PASPA stays in force, this would mean the sports betting industry can’t expand beyond already allowed states. However, if the Garden State is successful, the 25-year old law will finally be overturned, allowing all the states to regulate their own sports betting laws how they see fit.
However, there are other possible outcomes in play. For example, the court could only exempt New Jersey, allowing them to regulate sports betting within the state. Likewise, which would like be the worst possible outcome, PASPA could be confirmed and the four states that already have regulated sports betting could see their exemption abolished. This would clearly be a disaster for the economy of these states, so hopefully it won’t come to this.
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