Could sports leagues end up paying for losing wager against sports gambling?

College and professional sports leagues lost their bet against legalized sports gambling. Now, New Jersey may make them pay up, reports.
State Senate President Steve Sweeney told NJ Advance Media he’s exploring a lawsuit against the leagues so the state can recoup legal fees and back tax revenue now that the U.S. Supreme Court has ruled in New Jersey’s favour, according to an article by Brent Johnson.
The leagues include the NFL, NBA, MLB, NHL, and the NCAA.
The state has spent $9 million in taxpayer money on the court case since 2011, Sweeney said. That’s in addition to what he estimated at about $700 million in revenue legalized sports betting could have brought in during that time. The legalization of sports betting can be seen all over the world. Countries such as South Korea have legalized sports betting, having various establishments where participants can place their bets, for example, Sports Toto based sites. These sites provide helpful tips to new punters on How to play Sports Toto – see 스포츠토토 하는법
“I think we should be pushing back: ‘Look, you cost us a lot of money,” Sweeney told NJ Advance Media. “There’s a potential for the state of New Jersey to recover some real funds.”
Sports betting could be a major source of revenue for Atlantic City, said Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality at Tourism of Stockton University. US Sports Betting is already popular online, with guides and websites popping up left and right. Some people even consider gambling on sports by using online bitcoin money. They can make more money to gamble with through using online casinos, you can see some of the best ones at if you wanted to use your digital currency to bet on your favorite team.
“The market nationwide is supposedly somewhere in the $150 billion in terms of illegal sports betting,” Pandit said in an interview with BreakingAC shortly after the ruling was announced last week.
Atlantic City could easily estimate getting about 2 percent to 3 percent of that multi-billion dollar pie, he said.
He estimated it could take a month to three months to get everything up and running, but said that is just speculative. Maybe those that are interested in betting on sports games should seek advice further afield. I had a friend who enjoyed betting at because of the toto verification and their useful advice.
The Legislature must first approve it, which officials have said would be done as quickly as possible. Then the regulations go into effect with the Division of Gaming Enforcement, who will work closely with gaming houses to implement it, Pandit said.
“I think several casinos are looking to do this sooner rather than later,” he said.
Being able to place bets on sporting events opens up a whole new customer base, since many may not be current casino gamblers but instead frequent gambling sites like this Indiana sportsbooks here.
“I think it’s very exciting looking forward to implementation of this within the area,” he said.
The New Jersey Thoroughbred Horsemen’s Association, the group that oversees horse racing in the state, is also preparing a lawsuit, NJ Advance Media also reported.
Dennis Drazin, the operator of Monmouth Park racetrack in Oceanport, said they will seek at least $100 million in damages from the league dating to 2014.