Sports betting has become a big business in America, and if it becomes legalized in Connecticut, professional sports leagues reportedly want a piece of the billion dollar pie.
Last July, Gov. Danell Malloy signed a bill into law that will allow the state to move quickly if a federal sports ban is overturned by the Supreme Court or repealed by Congress, allowing officials to “regulate wagering on sporting events to the extent permitted by state and federal law.”
The Professional and Amateur Sports Protection Act of 1992 dissuaded states from legalizing sports betting, but several years ago, New Jersey lawmakers adopted legislation allowing for legalized sports gambling, which is currently under review by the Supreme Court. If legislators win that case, it would invalidate the PASPA.
According to reports, if sports gambling is legalized in certain states, both Major League Baseball and the NBA will seek a 1 percent “integrity fee” per bet made. That fee could potentially be worth upwards of $2 billion.
Lawmakers in Connecticut are preparing a bill that would legalize sports betting in the state, pending the resolution of the New Jersey case. The Supreme Court is expected to make a ruling in that case later this year, which would open up the floodgates to other states.
Legislation to legalize sports gambling has also been introduced in New York and 15 other states, all pending the resolution of the Supreme Court case. The American Gaming Association estimates that at least $150 million is bet illegally on sports, with other estimates as high as $400 million according to St. Louis Today.
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