From 8e389a24d517cff14d62c3b684013045447ab5dd Mon Sep 17 00:00:00 2001 From: Pamela Stage Date: Wed, 15 Jan 2025 17:57:11 +0000 Subject: [PATCH] Add US Ruling Opens Way For States-wide Sports Betting --- ...ns Way For States-wide Sports Betting.-.md | 32 +++++++++++++++++++ 1 file changed, 32 insertions(+) create mode 100644 US Ruling Opens Way For States-wide Sports Betting.-.md diff --git a/US Ruling Opens Way For States-wide Sports Betting.-.md b/US Ruling Opens Way For States-wide Sports Betting.-.md new file mode 100644 index 0000000..f7d5610 --- /dev/null +++ b/US Ruling Opens Way For States-wide Sports Betting.-.md @@ -0,0 +1,32 @@ +
US ruling opens way for [states-wide](https://nana22.com/read-blog/2746_for-sports-gambling-to-be-legalised.html) [sports betting](https://mediawiki1263.00web.net/index.php/User:RodneyMal7903229) wagering
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14 May 2018
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The US Supreme Court has made a [landmark ruling](https://puzzle.thedimeland.com/4154/fantasy-betting-development-companies-sports-developers) that could enable states across the nation to [legalise](https://sotawiki.net/sota/User:LouisaWorgan08) [sports betting](http://touringtreffen.nl/read-blog/2375_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html).
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It has backed a 2014 state ruling in New Jersey which allows [sports betting](http://lifethelife.com/read-blog/4770_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering in casinos and at horse racing tracks.
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The court likewise [overruled](https://fishtanklive.wiki/User:NannieDurr) a 1992 [federal law](https://wiki.monnaie-libre.fr/wiki/Utilisateur:TMOSpencer) prohibiting [sports betting](https://gigen.net/read-blog/15_how-much-are-americans-investing-in-sports-betting.html).
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The news sent out the share rates of [sports betting](https://embargo.energy/index.php/User:CliftonRoque834) stocks in the US and UK rising, including Britain's William Hill and [Paddy Power](https://strimsocial.net/read-blog/19220_sport-betting-industry-aims-to-protect-itself.html).
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Several major US [sports betting](https://blablasell.com/read-blog/11969_for-sports-gambling-to-be-legalised.html) bodies had actually opposed the move, [including](https://maxmeet.ru/read-blog/94_the-history-of-the-nfl-and-how-to-bet-on-it) the [National Basketball](https://youslade.com/read-blog/41395_things-you-need-to-know-about-rafting-adventures.html) Association.
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The National Collegiate [Athletic Association](https://welcometohaiti.com/read-blog/15696_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) said it was a threat to the "stability of athletic competitors".
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However, [Justice Samuel](http://experienciacortazar.com.ar/wiki/index.php?title=Usuario:TomasWbn8549646) [Alito wrote](https://ozgurtasdemir.net/read-blog/508_just-how-much-are-americans-investing-in-sports-betting.html) on behalf of the Supreme Court: "The legalisation of [sports betting](https://whylieto.us/read-blog/168_just-how-much-are-americans-investing-in-sports-betting.html) needs an important policy option, however the choice is not ours to make.
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"Congress can gambling straight, but if it elects not to do so, each state is [complimentary](https://napvibe.com/read-blog/3033_how-fantasy-betting-app-development-companies-and-sports-developers.html) to act upon its own."
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Winners and losers
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Shares in UK-based bookmakers got on the ruling. Paddy Power Betfair's share price rose 10.5%, 888 Holdings jumped 14%, William Hill's stock got 9.4% and GVC Holdings rallied 6%.
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In the US, shares in Churchill Downs, which owns horse race tracks and gambling establishments rose by 5.73%.
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But Wynn Resorts, the Nevada-based hotels and casino operator, saw its share price fall by 2% on the possibility of competition from new entrants to [sports betting](https://doum.cn/read-blog/2197_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering.
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The Supreme Court choice strikes down the Professional and Amateur [sports betting](https://gamehiker.com/wiki/index.php/User:StepanieRobinson) Protection Act (PASPA) of 1992 that prohibited [sports betting](https://meta.mactan.com.br/read-blog/24516_the-ins-and-outs-of-betting-on-the-nfl-draft.html) wagering in most states.
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It is only allowed just a couple of states, including Nevada, home to Las Vegas, Delaware, Montana and Oregon.
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Neil Wilson, chief market analyst at markets.com, stated that William Hill stands to gain the most following the judgment due to the fact that it "can present [gambling operations](https://bytes-the-dust.com/index.php/User:CandiceTrent12) pretty quickly from Nevada, where it currently runs and has very [strong market](https://aijoining.com/read-blog/251_for-sports-gambling-to-be-legalised.html) existence".
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He added that the business likewise has a New Jersey operation "that is primed and ready to start taking bets within days".
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Paddy Power Betfair has a presence in the US through TVG, one of the country's greatest online horse racing services.
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Betfair purchased TVG in 2009 for $50m before it went on to combine with Paddy Power.
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Paddy Power Betfair likewise runs an online gambling establishment and horse race wagering service in New Jersey.
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More on this story
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High stakes for fixed-odds [sports betting](https://bepo.fr/wiki/Utilisateur:ChristiBucklin) makers
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12 May 2018
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Slam dunk for US [sports betting](http://kitsap.whigdev.com/read-blog/3104_online-betting-firms-gamble-on-soccer-mad-nigeria.html) ban?
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Published
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4 December 2017
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