New Jersey Takes a Gamble on Sports Betting »

Sports betting in the United States has become a divisive subject in recent years, partially due to the incredible revenue potential it carries. Online sports betting in the U.S. nearly tripled from 2001 to 2005, resulting in revenues upwards of $4.2 billion. The federal government has effectively outlawed sports gambling through the creation of the Professional and Amateur Sports Protection Act of 1992 (PASPA), with the only exception being for states that already had legalized gambling when PASPA was enacted (Delaware, Nevada, Montana, and Oregon). Certain states not within the exception are eager to take advantage of this cash cow to help balance their budgets. - Read more...