Supreme Court Makes Sports Betting A Possibility Nationwide

The Supreme Court has struck down a federal law that bars gambling on football, basketball, baseball and other sports in most states, giving states the go-ahead to legalize betting on sports.

The Supreme Court on Monday struck down the Professional and Amateur Sports Protection Act. The 1992 law barred state-authorized sports gambling with some exceptions. It made Nevada the only state where a person could wager on the results of a single game.

One research firm estimated before the ruling that if the Supreme Court were to strike down the law, 32 states would likely offer sports betting within five years.

The court's decision came in a case from New Jersey, which has fought for years to legalize gambling on sports at casinos and racetracks in the state.