The state of New Jersey has been one of the biggest supporters of the scraping of Professional and Amateur Sports Protection Act which was introduced back in 1992 on the account of it being outdated and no longer serving the industry’s best interest. This Monday, however, was not meant to see the official ruling of the Supreme Court of the United States which solidifies the uncertain situation in which businesses such as Monmouth Park in New Jersey are currently in.
Time is not on Monmouth Park’s as it is visible by the most recent turn of events which leaves the race track for thoroughbred horse racing in Oceanport, New Jersey in the area of the unknown. It could be recalled that the location has scheduled its official opening day for 5th May and until that day arrives, it should be confirmed whether the location is going to offer sports betting to its customers or not. For the time being the SCOTUS has not given its official statement regarding the future of the highly-discussed PASPA which has the potential to change the sports betting field across the US.
Everyone interested in the development of the field is looking forward to the ruling, as it is expected to have a significant impact on many businesses and sports betting entities which could finally have the chance to enter the sports betting scene and operate. Within the next few weeks, a ruling in Murphy vs. NCAA, formerly known as Christie vs NCAA will be issued, bringing an end to a long debate over the legality of sports betting. Monmouth Park is eagerly anticipating the ruling, as the potential offering sports wagering to its customers is going to guarantee steady revenue for the location.
Estimated Benefits of Sports Betting Legalization
For the last seven years, the legal battle has been in progress and this Monday was expected to see a development regarding the legal case. Since there was no progress made, the next potential date is 17th April, meaning that Monmouth Park still has a chance to offer sports betting just in time for its opening day at the beginning of May.
Only two weeks would be needed for the location to begin accepting bets if the ruling is in favor. Since the location is going through a rough patch and it has already spent $1 million to convert an existing area into a William Hill Sports Bar, the legalization could improve its state. It could be recalled that back in August 2017 New Jersey officials claimed that the federal law which bans a big part of the sports betting practices on a national level is no longer considered constitutional.
As such it should be removed and sports betting should become a legalized industry in all states. According to the authorities in New Jersey, the ban on placing wagers on sports events exceeds the authority of the Congress and should be stricken. It is estimated that about $150 billion is bet illegally on sports per year, resulting in great losses which can be easily avoided, if sports wagering becomes legal.