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:
BREAKING: U.S. Supreme Court rules that federal ban on state-sanctioned sports betting is unconstitutional. Decides case in favor of New Jersey. Floodgates now officially open for other states to allow sports betting. #RIPPASPA
— Daniel Wallach (@WALLACHLEGAL) May 14, 2018
A great day for the rights of states and their people to make their own decisions. New Jersey citizens wanted sports gambling and the federal Gov't had no right to tell them no. The Supreme Court agrees with us today. I am proud to have fought for the rights of the people of NJ.
— Governor Christie (@GovChristie) May 14, 2018
Marijuana and Gambling legalized, but go on and tell me about the golden ages of America when we couldn’t drink beer
— Big Cat (@BarstoolBigCat) May 14, 2018
The amount of ppl tweeting about this ruling when they previously never discussed sports gambling tells you how much of a market there is for gambling in the states. Ppl have quietly followed/gambled for years.
— Geoff Schwartz (@geoffschwartz) May 14, 2018
Never thought I’d live through a time where marijuana and sports betting were legalized. This ripple effect from legalized sports gambling is going to be enormous. ESPECIALLY for big-time college sports.
— Jemele Hill (@jemelehill) May 14, 2018
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.
Will the #SupremeCourt rule in favor of #NewJersey and allow states to legalize sports betting? @BetDSI
Yes -145
No +115When will the ruling be made?
March 5 +100
April 2 +150
April 30 +300
May 14 +750
May 21 +1000
May 29 +2500
Any other date +1000#LetUsBetpic.twitter.com/A3dioTHhWD— Action Appelbaum (@Josh_Insights) February 12, 2018
This is an historic day, but it was coming. The inexorable march of sports betting in this country — in the light, not the darkness — was inevitable.
— Andrew Brandt (@AndrewBrandt) May 14, 2018
Sports gambling becomes legal on the heels of Las Vegas adding NHL, NFL and WNBA teams and building a first-class stadium and arena that will bid to host Super Bowls, Final Fours and college football national championships. What a time to be alive.
— Arash Markazi (@ArashMarkazi) May 14, 2018
Monumental day in SPORTS history! Finally! Now the industry's second gold rush begins in earnest. Fantasy was the first with the advent of broadband connections. By the end of 2019, expect numerous states to offer some form of sports betting. https://t.co/etyJsBGWKm
— Brad Evans (@YahooNoise) May 14, 2018
I'm most excited for the stigma of sports betting to fade. It was so stupid. It is just like other vices (alcohol, casino games, horse racing, even fantasy sports, etc.) – entertainment, when done responsibly
— Doug Kezirian (@DougESPN) May 14, 2018
Leagues best positioned to cash in on legalized sports gambling as judged by the their openness to it (in order):
1. NBA
2. MLB
3. MLS
4. PGA Tour
5. NHL
6. NFL— Darren Rovell (@darrenrovell) May 14, 2018
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.
BREAKING: US Supreme Court rules for New Jersey in state's fight to legalize sports betting; $CZR, $MGM jumping following the news https://t.co/LrzEjzGmTppic.twitter.com/BTbYARbZbJ
— CNBC Now (@CNBCnow) May 14, 2018
Mark Cuban: Top sports team just saw their value double on Supreme Court betting decision https://t.co/hK3lOqyCRo
— CNBC (@CNBC) May 14, 2018
The sports betting market should be as big as Wall Street, says @TedLeonsis. Hear his take on the #SCOTUS decision to overturn a federal ban on sports betting on @CNBC: https://t.co/lD63zS1Kclpic.twitter.com/uTc8pAFrcs
— Revolution (@revolution) May 14, 2018
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.
Joe Asher, William Hill US CEO & partner of Monmouth Park, says hard to say, but possible NJ is $10B sports betting industry – double NV
— John Brennan (@BergenBrennan) May 14, 2018
A look at which states are likely to legalize sports betting following today’s Supreme Court ruling. https://t.co/OdiRcxX7Y6pic.twitter.com/9ls41KErkJ
— AP Interactive (@AP_Interactive) May 14, 2018
POLL: With the Supreme Court ruling that the federal ban on sports betting is unconstitutional, will you bet on sports more, less or the about same as you do now?
— Sports Insights (@SportsInsights) May 14, 2018
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
