US Supreme Court Decision on Sports Betting, An Opening for Montserrat
A landmark ruling by the US Supreme Court overturning a longstanding ban on sports betting opens the door for Montserrat and other regional countries to tap into the Multi-billion dollar industry.
Financial Analyst Peter Queeley says legalizing sports betting means that sports fanatics in Montserrat could lawfully place bets on their favourite games such as in the NBA, NFL, FIFA, the NHL and other leagues and tournaments.
More beneficial Queeley contends would be the ability for Montserrat and other countries to capitalize on this lucrative market to increase the potential for job creation and raise revenue through taxation.
Sports’ Betting is the activity of forecasting or predicting sports results and placing a wager on the outcome.
The Supreme Court ruled in favour of lifting the ban on May 14th, allowing US states to legalize sports betting.
The ruling struck own a 1992 federal law that had prohibited most states from authorizing sports betting.
The 6-3 ruling is a victory for many US who looked at sports gambling as a means of promoting tourism and increasing tax revenue. n.
The Supreme Court said the federal law violated constitutional principles limiting the federal government from controlling state policy, unconstitutionally forcing states to prohibit sports betting under their own laws.