Cooper Levenson Partner Lynne Levin Kaufman to speak: American Bar Association Webinar Panel “The Post Murphy v. NCAA World of Sports Betting: What Lawyers Need to Know”

Cooper Levenson Partner Lynne Levin Kaufman will serve as a panelist on an American Bar Association webinar session discussing the recent United State Supreme Court Case, Murphy v. National Collegiate Athletic Association, on Thursday, November 8.

This webinar discussion, “The Post Murphy v. NCAA World of Sports Betting” is sponsored by the American Bar Association’s Center for Professional Development and will discuss what practitioners need to know about the rapidly evolving landscape of sports betting. With NFL ratings up in 2018, many say legalized sports betting is increasing interest and is expected to be a billion dollar industry for media and data companies.

The program will include a review of existing regulations, a discussion of recent developments in the gaming industry as it has prepared for this day, and a look at how online developments will impact sports betting.

Joining Lynne Levin Kaufman, will be Andrew Brandt, the Jeffrey S. Moorad Center for the Study of Sports Law, Christopher Soriano, Partner, Duane Morris LLP, and Carl Sottosanti, Executive Vice President, General Counsel & Secretary, Penn National Gaming Inc.

To register, go to https://www.americanbar.org/events-cle/mtg/web/342621634/

Cooper Levenson is a full service law firm since 1957, with 70 attorneys and offices in New Jersey, Delaware, Florida and Las Vegas. For  more information, visit www.cooperlevenson.com.

New Jersey – “Bettor” Than Ever: #SportsBetting

By Lynne Levin Kaufman, Esquire

For those of you who have been asleep for the past 24 hours, yesterday the Supreme Court declared the federal Professional and Amateur Sports Protection Act of 1992 (PASPA) unconstitutional and gave states the ability to decide whether or not to legalize sports wagering, and to craft, through legislation and regulation, a sports betting framework in their state.

Those of us that were not asleep declared yesterday a day to celebrate a great victory for the State of New Jersey and for the entire gaming industry. Tourism, jobs, tax revenue,  and new entertainment are just a few reasons why. It was of course, a day for much speculation about the impact of sports wagering, including the question, which state will be up and running soon?

Yes, legislation has been passed in Connecticut, Mississippi, New York, Pennsylvania and West Virginia in anticipation of the ruling. Yes,  although New Jersey started and won the battle against PASPA, its sports betting legislation has not been enacted yet.

However, don’t place your bets against New Jersey coming out in front. New Jersey has fought for many years to overturn PASPA, against powerful and formidable opponents, and it is not going to take any time for a victory lap until sports wagering is legalized and operating in New Jersey. Although a few other states may be a bit ahead in the legislative process, we believe that gap will quickly close. Why?

Legislation had already been proposed in the Assembly, and within a few hours after the Supreme Court decision was released, the Senate introduced its own legislation. All proposals tie legalized sports wagering to the landbased casino and racetrack industries, and have a  lower tax rate than that proposed in some neighboring jurisdictions, making it more welcoming for operators to enter the New Jersey market. The New Jersey Division of Gaming Enforcement has also been preparing for years, and will be ready with regulations to support any legislation.

Furthermore, in addition to the fact that we anticipate the legislative and regulatory process to move quickly,  New Jersey is one of only three states in the country with operating regulated internet gaming (with the other two being Nevada and Delaware). Thus, New Jersey has technical and practical experience from its successful launch of internet gaming that can be applied to internet sports wagering. This experience ranges from software product approvals to successful geolocation and age and identity verification measures, to name  just a few critical areas. States without live regulated internet gaming  do not have this technical or practical experience. Of course, as the second state in the nation to legalize casino gaming, there is the well  established and respected landbased casino infrastructure in place as well. Last, and not at all the least – in fact maybe even likely to come in as first to operate – are the New Jersey racetracks, which have been prepared to offer sports wagering for years.

So stay tuned. We will continue to report. And here goes the lawyer disclaimer: Don’t really make that bet for or against any state going to market first. The decision yesterday did not legalize that activity!

All materials are for informational purposes only and do not contain legal advice, legal opinions or any other form of advice regarding any specific facts or circumstances.

U.S. Supreme Court Allows States to Legalize Sports Betting

by Lynne Levin Kaufman, Esquire
@iGamingLawyer

ATLANTIC CITY, N.J. – May 14, 2018  – By now, most of you have heard that the U.S. Supreme Court  today held that the Professional and Amateur Sports Protection Act (PASPA), the more than 25 year old federal law that prohibited full blown sports betting in all states but Nevada, is an unconstitutional restriction on state sovereignty. The elimination of PASPA means that states can pass laws establishing regulated sports betting. But what does that mean for the gaming industry and for those of us who are anxious to place a legal bet in our state?

It means that the states that have already acted to pass legislation, or have bills pending in the legislature, including New Jersey and Pennsylvania, are preparing to roll out sports betting as soon as possible. It means that an opportunity has been created for businesses that operated outside of the U.S. to now locate themselves in the U.S., creating employment and other business opportunities. It means that much less revenue will be lost to the $150 billion illegal sports betting industry. It means tax revenue will be gained by states that legalize sports betting. It means that people who couldn’t travel to Nevada for the Super Bowl or March Madness, as two examples, can enjoy an entertainment experience at the casino or racetrack in their regulated sports betting state. It means that sports betting will be required to be conducted with integrity, transparency, and supervision.

Yes, there is a lot to work out.  The average sports book realizes about a 5% profit, and integrity fees to the leagues, licensing fees, and technical requirements could deter industry growth. Then there are questions regarding internet wagering, server placement, and the Wire Act.  But on this day, let’s put those thoughts aside and celebrate a monumental victory for the gaming industry.  #SportsBetting