This large figure (almost five times the combined revenues of Major League Baseball, the NFL, NBA and NHL; 14 times the movie industry's domestic ticket sales) is a guess and might be much less than the actual sum that Americans wager on sports.
After a multi-year legal battle between New Jersey and the four major sports leagues, MLB, NBA, NFL and NHL, to get legalized sports betting outside of Nevada only, the monumental ruling paves the way for Tioga Downs as well as the other three NY state casinos to offer this type of wagering on property once legislation is written and passed by the state.
It's a very different tone than the one set by Adam Silver, the commissioner of the National Basketball Association, who said in a statement that his league supports a federal framework for legalized gambling in the states that permit it.
Steve Ruddock, a reporter and online gaming expert at Online Poker Report, previously said he thinks RAWA is "dead and buried", and pointed out that overturning PASPA would add more shovels full of dirt to the effort. "We have to adapt to it, I think, a little more readily than some folks would like to". Of the 264 bettors surveyed, "only 4 percent said they would bet less on racing if sports betting were legalized in their state".
During a conference call with reporters, DraftKings CEO Jason Robins said there had been preliminary discussions with MA officials. "I programmed them all", he said. "Of course. But if you're asking me had I rather be bitten by a Black Widow or a Brown Recluse, my answer is neither", he said, according to Kentucky Today.
And there's already a ballot issue under discussion.
Ask your local bookie about his "integrity" fee. The Supreme Court's sports gambling decision this week followed the rationale of the Printzcase and characterized the federal legislation that prohibited the states from permitting sports gambling as commandeering their legislative processes. The federal law barred most states from allowing sports wagering.
Delivering the opinion of the Court, Justice Samuel Alito found that, "The legalization of sports gambling requires an important policy choice, but the choice is not ours to make".
MGM Springfield issued a statement applauding the Supreme Court's ruling. A number of other states are also poised to move quickly in passing legislation of their own, including: Connecticut, Mississippi, West Virginia, Delaware, Illinois, New York, Massachusetts, Rhode Island, and Pennsylvania. Whether you are betting on sports or playing poker, lawmakers must make it a priority to protect customers.
Sen. Dawn Euer, who serves Jamestown and Newport in the state legislature, did not respond to multiple calls and e-mails seeking comment. Monmouth Park-a racetrack on the Jersey Shore-is poised to accept New Jersey's first legalized bets in a matter of weeks. Some Atlantic City casinos are expected to start offering sports gambling soon.
The federal ban on sports betting died this week when the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA). "So it's really, it's not a lucrative thing that we have to come to Vegas just to be able to do it".
Based on a proposed state tax rate of 10 percent on general gross revenues from sports betting, the firm predicts an additional $13.4 million in annual tax revenue coming to the state in the first year of sports betting, with the amount rising to $28.7 million by year five.
The groundwork is there: After a public referendum in 2013, the state approved a law that allowed for new non Indian nation-owned casinos to operate in areas not covered by gaming pacts with Indian nations. This has made them illegal in several states.
Where will people be allowed to bet in those states?
A spokesman for the commission said Monday that the court decision is "under review".
"Obviously high school sports would probably be excluded from it, College sports and university's you don't know if they could be included", Smith said. "For us now to be able to capture dollars that are significant and meaningful to our state, as well as other states, that's what I think we ought to do".