In a landmark decision, the Supreme Court ruled in favor of New Jersey in the long-awaited sports betting legalization case.
The Garden State can now take in legal bets, but more importantly, the decision opens the floodgates for legal sports betting to spread nationwide.
For wiseguys all across America, it’s Christmas morning.
Here’s how social media reacted to the decision:
Back in February, BetDSI sportsbook released a prop bet on if New Jersey would win and what date the ruling would be made. “Yes” -145 and “May 14” +750 both cashed.
Daily Fantasy giant DraftKings is already preparing to launch a sports betting platform. FanDuel will look to enter the betting market as well.
As soon as today’s decision was released, casino stocks soared, most notably Caesars and MGM. Mark Cuban predicted that the value of professional sports teams will double. Ted Leonsis expects betting could be as big as Wall Street.
Monmouth Park has already set up a sportsbook and will start taking in bets within weeks. More than 30 states are expected to follow suit in the next two to five years.
Interested in betting on sports but don’t know where to start? Visit our Betting Education page where we outline concepts, tips, strategies and common mistakes. Also learn how to use The Action Network’s data to fade the public, follow sharp action and pinpoint profitable wagering opportunities.
For more updates on the Supreme Court sports betting decision, follow us on twitter @ActionNetworkHQ.
Top Photo: All nine Supreme Court Justices pose for a group photo in the East Conference Room of the Supreme Court Building. Seated from left, Associate Justice Ruth Bader Ginsburg, Associate Justice Anthony M. Kennedy, Chief Justice of the United States John G. Roberts, Associate Justice Clarence Thomas, and Associate Justice Stephen Breyer. Standing behind from left, Associate Justice Elena Kagan, Associate Justice Samuel Alito Jr., Associate Justice Sonia Sotomayor and Associate Justice Neil Gorsuch