Thread: Supreme Court weighing decision that could create a $150 BILLION industry

Supreme Court weighing decision that could create a $150 billion industry

CNNMoney Sport

What's at stake in the Supreme Court's sports betting decision

by Ahiza Garcia @ahiza_garcia
April 1, 2018: 4:08 PM ET

Sports betting is having its moment before the Supreme Court. At stake is a 26-year-old federal law that has kept legalized sports betting out of most states.

For years, voters in the state of New Jersey have been trying to challenge a federal law called the Professional Amateur Sports Protection Act of 1992 and allow sports betting in its racetracks and casinos. Residents voted in 2011 and 2014 to approve sports betting there. Then-Governor Chris Christie signed a bill in 2014 attempting to make it legal under state law.

Major sports leagues like the NCAA, NFL, NBA, MLB and the NHL sued in 2012 and again in 2014 to stop it, and successfully argued that the PASPA law prohibits the Garden State from allowing sports betting.

The Department of Justice got involved and New Jersey lost decisions at every level. In 2016 a federal appeals court agreed that PASPA prohibited states from allowing sports betting.

But the Supreme Court took notice of the case and agreed to consider New Jersey's claim that the law is unconstitutional. If it rules in favor of sports betting in Atlantic City, the decision could pave the way for wagering nationwide -- an industry with huge potential. Annually, illegal sports betting amounts to roughly $150 billion.

PASPA, also known as The Bradley Act, makes it illegal for people to bet on sports in most states except Nevada, Montana, Delaware and Oregon, which were allowed to grandfather existing programs.
New Jersey says the law goes against the 10th Amendment's "anti-commandeering" rule, which prevents Congress from forcing states to enforce federal regulations.

Related: How DraftKings is prepping for the Supreme Court's sports betting decision

New Jersey has received support from West Virginia, along with 17 other states and three governors.

Perspectives have been changing for a few years and not all sports leagues still agree that PASPA should still stand.

NBA Commissioner Adam Silver, who assumed his position in 2014, says sports betting should be legalized but regulated -- contrary to the league's position in the case before the Supreme Court.

The NBA and MLB have gone as far as teaming up to lobby state legislatures with their preferred plan for how sports betting should work.

Other executives have embraced the idea of sports betting and have started making plans to capitalize on it.

http://money.cnn.com/2018/04/01/news...sey/index.html

Oh hell yes! Everybody's doing it. Legalize and regulate. Why would sports betting be illegal? Why is poker illegal? I have no idea why all these states steal billions out of the pockets of the poor on lottery tickets but won't let rich and well to do people play cards, gamble and bet on sports?!! It makes no sense at all. Set the people free! Tax the bets with the FairTax. End the War on Drugs and tax that $300 to $400 billion with the FairTax, too. GET SMART!!!

Originally Posted by Judy

Oh hell yes! Everybody's doing it. Legalize and regulate. Why would sports betting be illegal? Why is poker illegal? I have no idea why all these states steal billions out of the pockets of the poor on lottery tickets but won't let rich and well to do people play cards, gamble and bet on sports?!! It makes no sense at all. Set the people free! Tax the bets with the Fair Tax. End the War on Drugs and tax that $300 to $400 billion with the Fair Tax, too. GET SMART!!!

FairTax is a shame and anyone that researches it will immediately see through it.

http://fairtaxfraud.com/fair.asp

Your calling the FairTax a fraud is like your calling slavery a "business affair".

Originally Posted by Judy

Your calling the FairTax a fraud is like your calling slavery a "business affair".

You're not even making sense. If you're going to attempt to embarrass or humiliate me at least, in fairness, disclose the entire conversation so someone doesn't take what your saying out of context! You're as bad as the liberal leaning media! Picking one comment out of a conversation and using it in an attempt to discredit me is even beneath you, Judy!

I was mainly referring to tariffs when I used the words "business affairs," not slavery! I shouldn't be held responsible for your false assumptions!

For anyone interested in what Judy is talking about, please see:

https://www.alipac.us/f9/president-trump-black-vote-357242/index5.html

The conversation was on page 4 & 5.

Back to this thread ...... the unfairtax is a fraud (IMO). Anyone that thoroughly researches it will quickly see what I'm talking about.

Most Republicans support the FairTax.

Originally Posted by Judy

Most Republicans support the FairTax.

As a man that has voted Republican my entire adult life, I would strongly disagree with that statement.

The FairTax will be a wonderful thing Republicans will have done for our country, when we have enough Republican members of Congress to pass it. I think we'll do well in 2018 and possibly well enough to pass the FairTax legislation next session. It will change our country for the better in so many ways with just one simple 68 page piece of tax legislation that among other things eliminates 70,000 pages of existing IRS tax code.

Originally Posted by Judy

The FairTax will be a wonderful thing Republicans will have done for our country, when we have enough Republican members of Congress to pass it. I think we'll do well in 2018 and possibly well enough to pass the FairTax legislation next session. It will change our country for the better in so many ways with just one simple 68 page piece of tax legislation that among other things eliminates 70,000 pages of existing IRS tax code.

Keep advertising and dreaming.

FairTax Act of 2017 is HR 25 in the US House of Representatives.