$150 Billion - Yes, that's correct. It is estimated that $150 Billion is illegally bet every year on sports outside of Nevada. Well, the US Supreme Court is about to decide whether our not wagering on sporting events should be limited to just Las Vegas.
If the Supreme Court decides that the Professional and Amateur Sports Protection Act – the 25-year-old federal law that severely limits sports gambling with the exception of Nevada – is unconstitutional, any state could legalize sports betting. A a handful of state legislatures have had preliminary discussions on that front in case New Jersey does prevail.
Fort Lauderdale, Fla.-based attorney Daniel Wallach told USA Today happens next:
"Once the Supreme Court has granted certiorari in a given case, the parties are required to file a new set of briefs. These are referred to as 'merits briefs.' Unlike the 'cert stage' briefs, which focused on whether the court should review the case, the briefs on the merits address why that party should win its case. (For example, this is where I would expect to see the equal sovereignty argument – that is, the preferential treatment given to Nevada and three other states, to the exclusion of the other 46 states – play a more important role going forward).