The odds seem to favor state lawmakers wanting to capitalize on sports betting following a recent U.S. Supreme Court decision.
Monday, the U.S. Supreme Court cleared the way for states to legalize sports betting, striking down a 1992 federal law. The Professional and Amateur Sports Protection Act had prohibited states from authorizing or legalizing sports betting unless it was already law prior to the act’s passage.
“As a result, legalized sports gambling will likely soon be available in a number of new markets across the country,” said Nathaniel Grow, associate professor of business law and ethics at the Indiana University Kelley School of Business.
However, that doesn’t mean Hoosiers immediately will be able to win anything more than bragging rights when their teams succeed.
Grow said just because states are allowed to enact laws regulating sports betting doesn’t mean they will.
In Indiana, some legislators are open to adding sports wagering as one of the topics to be studied in summer committees this year alongside other topics such as medical marijuana and bias crimes.
State Sen. Mark Stoops, D-Bloomington, said any form of gambling gets a lot of discussion in the General Assembly, as some lawmakers oppose any expansion of gambling, and others would favor it.
Stoops said if a summer study committee decides to move forward on sports gambling, lawmakers would have to come up with ways to regulate and tax it, while also finding ways to mitigate any negative consequences.