Gearing Up For Legalization Of Online Gambling?
Added: July 6, 2015
At least that is what early indications point to with what is going on over in New Jersey. Recall that it is the state of New Jersey that has been at the forefront of aggressively pushing the envelope to bring in legalized online gambling to its residents. Recall that the not to be messed with Governor Chris Cristie has made it clear to all that he is willing to take the fight wherever it needs to go.
Remember also that New Jersey is one of the very few states that went all the way and set up online casinos over the last few years. If you have been paying attention to the news as of late regarding what’s hot in the world of online gambling then you are certainly aware of the latest skirmish involving New Jersey. In short, at the governor’s behest, the state is directly challenging the existing ban on sports betting.
In case you are not quite so up to date on online gambling laws in the United States all you really need to know is that there is a law put on the books back in 1992. This law, named the Professional and Amateur Sports Protection Act (PASPA), essentially banned sports betting in general with a few exceptions such as the casinos out in Las Vegas.
Interestingly, at the time that PASPA was passed, fantasy sports betting was more of a small time, local endeavor. Something that coworkers and friends enjoyed occasionally. However, as with many things in this modern era, the rise of ever more powerful cellphone technology, widespread broadband Internet service and of course the ubiquitous Smartphone in everyone’s pocket or purse has given rise to a whole new online gambling niche.
As you have probably already guess, that niche is none other than daily fantasy sports betting. From a small time endeveaor just a few short years ago, daily fantasy sports betting has now become a mainstream activity. Consider that just one daily fantasy sports betting app named FanDuel proclaims that it expects to pay out more than $1Billion in cash prizes in 2015 alone.
So what does this all of the above have to do with New Jersey and online gambling in general? The answer is actually pretty easy to spot. You see, PASPA did not prohibit daily fantasy sports betting. Spotting a possible avenue to bring in sports betting, New Jersey is challenging the federal ban on online sports betting. As this is actually being heard in federal court, what happens in New Jersey could in fact affect the rest of the United States.
In other words, the challenge by New Jersey could in fact open the doors for further expansion of online gambling throughout the country.