In May 2018, the United States Supreme Court struck down the federal ban on state-authorized sports gambling, permitting any state to legalize sports betting at its discretion. See Murphy v. NCAA, 138 S.Ct. 1461 (2018). Since then, 25 states, along with Washington, D.C., have legalized some form of sports gambling. And business is booming.

As of Dec. 1, 2020, the public has legally wagered more than $31 billion on sports, generating just under $300 million in tax revenue. (See https://www.legalsportsreport.com/sports-betting/revenue). In New Jersey alone, $10 billion has been legally wagered on sports, including $803 million in October 2020, a national record for the amount wagered on sports in a single state in a single month. (See https://www.legalsportsreport.com/45718/new-jersey-sportsbooks-october-handle).

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]