Supreme Court reporter Richard Wolf breaks down the SCOTUS ruling on sports betting in the United States, and what it could mean for the future of gambling in professional and college sports.
Sports gambling has always existed. According to the American Gaming Association, at least $150 billion a year is wagered on sports, 97% of which is bet illegally through such outlets as bookies, off-shore websites and other establishments — known as sports books — that take bets on events and pay out winnings.
By legalizing sports gambling, the Supreme Court has opened the door for casinos, daily fantasy sports sites, racetracks and other potential operators to open up legitimate sports betting operations across the U.S., allowing gamblers to wager without having to use a potentially shady, unregulated website that might not pay you if you won too much.
Some daily fantasy sports sites, such as DraftKings, are already moving towards accepting wagers, emailing users on Monday afternoon about the Supreme Court announcement and saying that it planned to accept wagers in the future.
A landmark decision was made by the United States Supreme Court that will have a profound effect on sports betting and credit card …