Friday, May 18, 2018

What does Supreme Court sports betting ruling mean for NASCAR?

NASCAR betting has been large during Las Vegas race.
Don't expect the recent Supreme Court ruling to be a gold mine for NASCAR, racetracks and teams in the coming months.

But it certainly could be, well, let's say, an interesting roll of the dice.

The court's decision to strike down the Professional and Amateur Sports Protection Act, a 1992 federal law that barred state-authorized sports gambling, has opened the door for states beyond Nevada to legalize sports betting.

Wagering on NASCAR races already is legal in Nevada, and the ruling is expected to increase the number of states where it's legal in the coming months.

But NASCAR isn't exactly the most profitable of sports. According to the Nevada state gaming control board, sportsbooks in Nevada made $87 million in profits off of football bets in 2017, $76.9 million on basketball, $42.4 on pari-mutuel horse racing and $36.8 million on baseball.

The statewide gaming reports would lump NASCAR into an "other" category that includes boxing, mixed martial arts, soccer, tennis and golf that had a combined 2017 profit of $32.3 million -- and NASCAR likely wasn't a huge part of that.

Read More Here....ESPN

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