LEGITIMATE BUSINESS: Supreme Court Gives Green Light to Sports Betting in New Jersey

Bad news, bookies…

The US Supreme Court has ruled in favor of commercial sports betting in a New Jersey case that is bound to have implications nationwide, essentially legitimizing America’s estimated $150 billion annual sports gambling habit.

The Professional and Amateur Sports Protection Act of 1992 banned states other than Nevada from authorizing sports gambling. Today, the Supreme Court struck down that law.

The move will be a huge benefit to firms like DraftKings, which reportedly opened up an office here in Hoboken in February.

The move will be bad news for a number of area entrepreneurs who had previously catered to the market in a more clandestine fashion…

(NSFW)