Are bookies' days numbered?
Or is their future brighter than ever? Depends on who you ask. A recent Supreme Court case could dramatically change the entire sports betting industry in the U.S. The current law, the Professional and Amateur Sports Protection Act (PASPA), has prohibited legalized sports betting in most states except Nevada. However, court observers believe PASPA will be found unconstitutional based on the recent Christie vs. NCAA case which was argued before the court in late 2017.
If observers are correct, then legal, licensed sports betting will be available via traditional sports books or e-kiosks at Native American casinos, as well as other establishments in certain states. It's expected that many states (currently 20 or so) and Native American tribes will immediately begin the process of legalizing and regulating sports betting within their jurisdiction.
Once legalized, these states and Tribes anticipate a wave of would be bookies, sports-books, Daily Fantasy Sports, and others seeking a piece of the action. Still, like any sweeping change, there are nuances, details, and provisions that must be followed in order to comply with the new laws. Few firms have the experience and resources to see what’s coming.
However, The Law Office of Nathan J. Mays is already helping clients prepare for success right out of the gate. If these changes impact you or your business, contact our office to set up a consultation.