Big bet on New Jersey game gambling, lost

Published by Bob Hartman on May 5, 2014

The Associated Press reported Sunday that the state of New Jersey has spent more than 8 2.8 million on attorney’s fees after Governor Chris Christie was forced to defend his initiative to issue a sports gambling license.

The four major sports leagues (NFL, NBA, MLB and NHL), along with the, sued the state in 2012, claiming that Christie’s initiative was illegal under the Professional and Amateur Sports Protection Act (PASPA) of 1992. It states that all sports gambling is illegal except for those states which already offer gambling venues to their guests.

New Jersey, and thus Christie’s, has so far lost every battle of the court. However, this could be the whole plan. The Supreme Court is expected to decide this month whether to hear the case.

Oddly enough, there is no news in the political circles that the Supreme Court will decide the case this month. Instead, according to ABC News, the news is that the state is wasting more money than it needs at a time when it has a deficit of $ 800 million.

Another point of contention is that the firm to which the state is paying is the same firm Christie has been appointed to investigate the George Washington Bridge lane-closing scandal.

Due to the current political tensions around Christie, the governor’s political future may depend on the outcome of the Supreme Court decision.

CGW analyst Michael Anhausen said, “If, with a few longer shots, the court picks up the case,” and if, with another longer shot, the court rules in Christie’s favor, the state will make $ 2.8. Two months of legal gambling in the state and Christie will be a hero again. ”

The market for illegal sports gambling in New Jersey is currently estimated at $ 20 billion. If the market is legalized, it is expected to quadruple the size of the Las Vegas market and, according to some estimates, New Jersey is expected to earn $ 100 million annually.

According to Joe Asher, CEO of William Hill, who owns and operates more than 100 sportsbooks in Las Vegas, this has always been a Supreme Court decision. However, whether the Supreme Court takes it or not, whether it reverses the PAPSA or not, it believes that the future of the United States will be a country where anyone can bet anywhere.