Monday, May 14, 2018

After Supreme Court ruling, a rush to cash in on sports betting - Jacob Meazle

Link: https://www.cbsnews.com/news/supreme-court-ruling-rush-to-cash-in-sports-betting/

Summary: On Monday, the U.S. supreme court struck down the Professional and Amateur Sports Protection Act, or PASPA, after New Jersey passed a law challenging the act that banned gambling on major sports events in most U.S. states. PASPA was passed in 1992, and New Jersey, then, created a law that allowed the gambling in casinos, as long as it was set up within a year. New Jersey's rival law, however, wasn't enacted until 2012, and the supreme court just  now ruled in its favor.

Position: This relates to Prohibition, in that the government took away something Americans love (or in this case, participate in), and realized how much money they could make off of taxes, and then allowed it once more. According to the American Gaming Association, illegal sports gambling brings in about $149 billion annually, and that's a check the government wants to cash in.

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