Last week, the Supreme Court heard oral arguments on Christie v. NCAA. Regardless of one’s position, analysts and pundits agree that there have been few moments as influential as this to the future of sports betting in the US. As we look forward to the outcome of the case and the inevitable evolution of the industry, let’s highlight some perspectives on the ruling and its impact across sports.
- Each year, an estimated $150 billion is illegally gambled on sports in the US. Last Monday, SCOTUS heard first arguments on bringing the industry above board—and early reports suggest the justices are skeptical about the rationale to keep sports betting illegal.
- Should the court rule in favor of New Jersey, odds are that this would be the first in a series of legislative events that alter the course of gambling across the country.
- While the NBA stands against New Jersey in this month’s case, the league reiterated its view that PASPA (the Professional and Amateur Sports Protection Act of 1992) should be repealed and indicated it will push to be a leader against the federal legislation.
- Casinos are naturally paying close attention to the changes and regulations facing gambling, but internet betting stands to be affected just as much—if not more—by a boon to the industry.
- Setting the regulatory changes aside, sports betting has seen dramatic shifts in the makeup of the “action” against the major sports—specifically, bettors have been favoring sports other than the NFL. As much as 40% of the football money gambled this year has been put toward the college game, and over 50% of the total sports wagering was devoted to the basketball and baseball.