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Sport PGA Tour voices support of legal sports betting in wake of Court ruling

02:00  15 may  2018
02:00  15 may  2018 Source:   golfweek.com

What it means: Supreme Court strikes down PASPA law that limited sports betting

  What it means: Supreme Court strikes down PASPA law that limited sports betting The U.S. Supreme Court ruling in favor of New Jersey on Monday effectively killed the Professional and Amateur Sports Protection Act (PASPA), the federal law that essentially limited sports betting to one state for the last 25 years. PASPA was declared unconstitutional in the 7-2 decision, meaning it will be up to states – including New Jersey, which has sought to establish sports gambling for years – to decide whether to allow its residents to bet on sports. Here’s a breakdown of what the ruling by the nation’s highest court means: What is PASPA?  PASPA was signed into law by President George H.W.

PGA Tour in favor of legalized sports betting . 121dBen Fawkes. "A lot of things remain to be determined. It's not simply switching a switch. When the court rules it's going to be big news for a while."

What court 's ruling on sports betting means for gamblers : What it means: Supreme Court strikes down PASPA law that limited sports betting The U.S PGA Tour re-asserts support for legal wagering in wake of Supreme Court ruling . PGA Commissioner Jay Moynahan had voiced his

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The PGA Tour Monday re-asserted its support of legalized sports betting after the Supreme Court struck down a federal law banning the practice outside Nevada.

PGA Commissioner Jay Moynahan had voiced his support for legal wagering on Tour events prior to the Court's ruling.

"Following the Supreme Court's ruling today, the PGA Tour reiterates its support of the regulation of sports betting in a safe and responsible manner. We believe that regulation is the most effective way of ensuring integrity in competition, protecting consumers, engaging fans and generating revenue for government, operators and league," the Tour said Monday in a statement.

Casino stocks jump after sports wagering ban overturned

  Casino stocks jump after sports wagering ban overturned Shares of casino companies soared after the U.S. Supreme Court struck down a federal law that bars gambling on individual sporting events, opening up a new source of revenue for the industry. Scientific Games Corp., Boyd Gaming Corp., MGM Resorts International and Caesars Entertainment Corp. all rose in the wake of the decision. Other companies, such as online gaming giant Stars Group Inc. and International Speedway Corp., also climbed.The rally follows a decision that found a 1992 law unconstitutionally forced states to maintain rules that outlaw gambling. Nevada is the only state where single-game wagering is now legal.

Supreme Court opens door for legalized sports gambling (0:53). Doug Kezirian breaks down the ramifications of the Supreme Court 's ruling that New Jersey -- and every state after that -- can have legalized sports betting . The PGA Tour recently joined the NBA and MLB lobbying coalition, with

The PGA Tour supports the legalization of sports wagering as outlined by the NBA and Major League Baseball, according to testimony at a hearing about sports betting in Illinois on Tuesday. The pro golf organization later told Legal Sports Report that it does indeed support legalization and regulation

The Tour has been working with Major League Baseball and the NBA in anticipation of the Court striking down the Professional and Amateur Sports Protection Act.

It is estimated that legalized sports betting could generate $6.03 billion in revenue above board and the pro leagues want a piece of it, most likely in a the form a small percentage of the action wagered in each particular sport.

"We remain aligned with the NBA and MLB in this area, and we will continue with our collective efforts to work with legislators, regulators, operators and others in the industry on regulation that serves the interests of all involved," the Tour added in its Monday statement.

The Tour has been monitoring betting on players and events through an Integrity Program it implemented in 2018. Its longstanding policy preventing players from wagering or participating in gambling related activities at Tour events was expanded the likes of player support teams, tournament staff and volunteers, PGA Tour staffers and its policy board.

Why legalized sports gambling is a win for millions of fans

  Why legalized sports gambling is a win for millions of fans Supreme Court ruling strikes down federal law and puts the power to legalize sports betting in the hands of the states.Load Error

PGA Tour re-asserts support for legal wagering in wake of Supreme Court ruling . PGA Commissioner Jay Moynahan had voiced his support for legal wagering on Tour events prior to the Court 's ruling .

The supreme court ruled 6-3 to strike down the Professional and Amateur Sports Protection Act. New Jersey has spent years and millions of dollars in legal fees trying to legalize sports betting at In 2012, with voters’ support , New Jersey lawmakers passed a law allowing sports betting , directly

Fans are a different story. Legal betting on PGA Tour events will likely increase fan interest and viewership. That holds true for all pro sports.

Dallas Mavericks owner Mark Cuban put it this way on CNBC Monday: "I think everybody who owns top-four professional sports team just basically saw the value of their team double at least. It feels good." Cuban said. "It could finally become fun to go to a baseball game again."

Currently, legal sports books in Nevada accepting wagering via on-line apps from people inside the state's borders. Expect legal sports betting to expand quickly across those states - including Connecticut, New Jersey, Massachusetts, West Virginia, Mississippi and Pennsylvania - that have either already overturned PASPA or have long pushed for sports betting.

The Supreme Court case was brought by the state of New Jersey and reversed an appeals court ruling. A 6-3 majority of justices declared that the federal ban on sports wagering is unconstitutional.

What court's ruling on sports betting means for gamblers

  What court's ruling on sports betting means for gamblers With states such as New Jersey potentially open to take bets in time for the NBA Finals at the end of the month, here is what the ruling could mean.  Removing 'shadiness' and stigmaSports gambling has always existed. According to the American Gaming Association, at least $150 billion a year is wagered on sports, 97% of which is bet illegally through such outlets as bookies, off-shore websites and other establishments  — known as sports books — that take bets on events and pay out winnings.

The NBA, MLB, and PGA Tour have lent their support to proposed legislation in Indiana on the condition it include a one percent “integrity fee.” Everything you need to know about the Supreme Court ’s ruling on sports betting .

Supreme Court ruling strikes down federal law and puts the power to legalize sports betting in the hands of the states.Load Error. PGA Tour re-asserts support for legal wagering in wake of Supreme Court ruling . PGA Commissioner Jay Moynahan had voiced his support for legal wagering

"The legalization of sports gambling requires an important policy choice, but the choice is not ours to make. Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own." Justice Samuel Alito wrote in his majority decision.

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NCAA to allow championship events in states with sports gambling .
On the heels of the Supreme Court ruling, the NCAA said it will temporarily suspend its current policy and allow states that condone sports gambling to host championship events. In a news release Thursday morning, the NCAA announced that it is adjusting its policy in the wake of Monday's ruling to "ensure championship location continuity." The NCAA's policy had previously prevented states that allow "single-game sports wagering" from hosting championship events.The organization also clarified that Monday's decision does not change its rules prohibiting sports gambling.

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