Breaking News: The Supreme Rules In Favor of Sports Betting
In 1992 there was a Federal Law that disallowed Sports Betting in most States. Today that ruling was voted down 6-4 in favor of now allowing Staes to make their own decision as to whether they will embrace Sports Betting or 'Opt OUT' of implementing it.
The Supreme Court ruled that former law 'violated constitutional principles', according to a News Source.
Justice Samuel Alito said this:
"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."
"Today's decision clears the way for all states to make their own decisions about legalizing sports betting, and in one fell swoop gets rid of Nevada's monopoly on the subject and the 1992 federal statute that had protected it,"
One thing is certain; Casino's are celebrating this gambling victory, so to speak, with the stock price for Caesars Entertainment immediately rising to 6%, while DraftKings said it follow suit and open itself up to Legal Sports Betting as well, according to News Reports.