Sports gambling no sure bet in Illinois' immediate future

Supreme Court makes sports betting a possibility nationwide

The U.S. Supreme Court on Monday paved the way for states to legalize sports betting in a defeat for the major American sports leagues, endorsing New Jersey's bid to allow such wagering and striking down a 1992 federal law that prohibited it in most places. The ruling overturns what's been essentially a century of US policy.

Nemes was by inference talking about Republican Gov. Matt Bevin who has opposed measures to permit expanded gambling in Kentucky, calling those a "sucker's bet" several times and claiming the "societal costs" would out-weigh any financial benefit to the state.

Fans go to places like Emerson Biggins where you can enjoy a beer, some friends and the game.

Actually, it's not a very profitable business. "There's no doubt in my mind the provincial lottery corporations are ready to take the lead given the right federal legislation".

Texas Governor Gregg Abbott has shown little interest in sports betting and Texas Attorney General Ken Paxton in 2016 issued an opinion that deemed paid fantasy sports websites to be illegal gambling.

"You could make a strong argument, I think, that if it's regulated and people are on top of it, whether it's the professional gamblers or it's the professional sports books, that they will be able to detect anomalies and irregular betting patterns much better than some rookie in a back alley who has ties to organized crime", he said.

CEO Jim Murren tells The Associated Press the company has polled customers in focus groups around the US and found that widespread sports betting opportunities will not keep fans from traveling to the nation's gambling mecca. Shares of Scientific Games Corp, which develops gaming systems and sports-betting technology, jumped more than 11 percent to a record high close.

The PGA Tour has restated its support of sports gambling following a Supreme Court ruling that overturned a federal law barring gambling in most states.

Baseball suffered one of its biggest scandals when eight members of the Chicago White Sox, including star outfielder "Shoeless" Joe Jackson, were accused of throwing the 1919 World Series in exchange for money from a gambling syndicate.

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Advocates say sports betting would be an economic boon for states that don't now allow it; some estimates say it could add more than $1 billion to Texas' economy.

"The NFL's long-standing and unwavering commitment to protecting the integrity of our game remains absolute", a league spokesman said in a statement Monday after the Supreme Court found the Professional and Amateur Sports Protection Act of 1992 (PASPA) to be unconstitutional. Outside court, however, leaders of all but the National Football League have shown varying degrees of openness to legalized sports gambling.

But the question for the Supreme Court, Alito wrote, was whether Congress had crossed a constitutional line in forcing states to do its bidding.

Industry analysts have said that dozens of states might legalize sports betting if legally permitted.

Representatives of the National Hockey League and National Football League had no immediate comment on the ruling, saying they were analyzing it. "While we are still reviewing the decision to understand the overall implications to college sports, we will adjust sports wagering and championship policies to align with the direction from the court".

Leave no doubt, though: the sports landscape, from sponsorship to gambling addiction, is set to shift. "To be fair to the leagues, for decades (banning betting) was a good way to cut down on stuff like this". "There are a lot of street bookies, or illegal betting operations, where the money is going now". And with Action's foundation of proprietary data and legacy platforms, customers have the tools to, ideally, make more informed plays. "The bigger the thing the easier it is to fix something", Hill said. "In a penny stock market, you can see (fixes), but in a Fortune 500 company, you can't tell".

"The details would have to be resolved as to where it would be legal and who should do it", he said.

"Which is with cryptocurrencies, my friend knows I'm obsessed with them, but it's kind of an easy way, it's nearly like fake money to me because I don't put real money into it".

Tom Swoik, executive director of the Illinois Casino Gaming Association, said most sports gambling operators earn about 5 percent of the gross bet, so a 1 percent tax would consume 20 percent of their proceeds.

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