Professional and amateur sports

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Amateur sports

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Professional and Amateur Sports Protection Act of - Wikipedia

Eric Meer. Sports gambling is a multi-billion dollar industry in America today, but state and local governments, by and large, do not benefit in any way. This has allowed a thriving shadow economy of mob-associated bookies and offshore websites to operate with virtual impunity. The severity of the recent recession has forced state governments to get creative and find new sources of tax revenue, and many states have turned to sports gambling as a solution to raise additional revenues. Unfortunately, PASPA limits them from legalizing, regulating, and taxing the activity, which would enable state and local governments to enjoy millions of dollars in new tax revenue, job growth, and increased intrastate economic activity.
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The bill prevented states from offering legal sports betting , with a few exceptions. On May 14, , the U. The landmark decision upheld the New Jersey state law that permitted casinos and racetracks to offer sports betting within state lines. It also opened the door for every other U.
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The United States Supreme Court rules in favor of New Jersey to strike down the federal law that prohibited sports betting in many U. The decision upheld the legality of New Jersey's state law that permits sports betting in New Jersey casinos and racetracks. PASPA stopped new states from offering sports betting.
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