The decision on whether to repeal the federal ban on sports betting hasn’t been released yet. The Supreme Court heard arguments on repealing the Professional and Amateur Sports Protection Act (PASPA) four months ago. PASPA currently prohibits sports betting in all but four American states.
Supreme Court Delay a Worry for Many
The hearing took place on the 4th of December 2017, and the general feeling was that the justices were siding with New Jersey in repealing the act. New Jersey was arguing that PASPA violated the constitution and prevented states from deciding for themselves if they wanted to offer sports betting. As it takes the Supreme Court justices longer and longer to reach a decision, it is causing many to worry that maybe a favourable decision is not on the cards.
Those wagering on the outcome of the case have also started to lose faith. Websites that allow betting on the outcome, through buying shares, have seen the share value of yes drop. The value of ‘Yes’ shares for ‘Will the Supreme Court overturn PASPA’ has fallen from 90 cents to 64 cents.
Supreme Court Careful Consideration
Some have argued that the Supreme Court hearing is the most important case related to federal law in recent history. Part of the reason a decision hasn’t been reached yet is that it could have far-reaching consequences, over and above sports betting. If the Supreme Court finds in favour of New Jersey and agrees PASPA violated the constitution, this would have a significant impact on any future cases looking into a state’s right to govern itself, versus federal laws.
Following the hearing, many thought we’d get a decision as early as the 5th of March. The next most likely date was the 2nd of April. Both of these dates have passed without a decision. While many are worrying, it is important to keep in mind that several cases heard before PASPA also haven’t reached a verdict yet. It could just be that the Supreme Court justices haven’t gotten around to a decision as such. The next most likely date is on the 30th of April. Typically, decisions are announced on days when the justices are in session, but not hearing any arguments.