Published: Sat, May 26, 2018
Global News | By Blake Casey

Would Wyoming Benefit From Legalized Sports Betting?

Would Wyoming Benefit From Legalized Sports Betting?

Fresh from its victory in the Supreme Court last week, representatives from the New Jersey Thoroughbred Horsemen's Association (NJTHA) have filed a lawsuit against the National Collegiate Athletic Association (NCAA), claiming it cost the states racetracks nearly $150m in revenue by blocking the legalisation of sports betting.

The New Jersey Thoroughbred Horsemen's Association, which operates Monmouth Park is seeking damages for lost revenues it claims was the result of a long legal battle over sports betting.

In 1992, the federal government barred states from authorizing sports gambling on the grounds that it threatened the integrity of athletics.

NEWARK, N.J. (AP) - A New Jersey horse racing association sued the four major pro sports leagues and the NCAA Thursday, claiming the leagues cost one of the state's racetracks more than $130 million in lost revenue by blocking legal sports betting.

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Between Oct. 26, 2014 and May 14, 2018 when the Supreme Court issued its ruling, Monmouth Park could have made $139,749,842 on its sportsbook.

State across the country now have the go-ahead to legalize betting on sports. And from November 21, 2014, to May 14, 2018, while Monmouth Park was under a permanent injunction against accepting sports wagers, Grove estimated that its lost revenue was $139.7 million.

In its lawsuit the NJTHA claims that the leagues acted "in bad faith" by seeking a restraining order to block New Jersey's Monmouth Park Racetrack from offering sports betting in 2014.

"The leagues" assertions about the "imperative' need to stop the spread of sports betting can only be seen as a hoax foisted on the Court by the Leagues' top executives and in-house counsel". Nevada's existing gambling laws were grandfathered in, but with last week's high court decision, any state may now opt to permit sports betting. "It is obvious that the National Football League does not fear any threat to the integrity of their games even though the public is making bets based on how the NFL's players perform in National Football League games", the NJTHA said in court papers.

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