The Supreme Court has overturned the Professional and Amateur Sports Protection Act (PASPA). Are you an online merchant interested in a gambling merchant account for your business? How can you get approved for one fast and easily? Just go on reading this article and you’ll know.
The Professional and Amateur Sports Protection Act (PASPA)
The Supreme Court has recently overturned the Professional and Amateur Sports Protection Act (PASPA). This has put an end to a prohibition, due to which states couldn’t pass laws concerning the regulation of legal sports betting.
The situation now opens up legal sports betting in New Jersey and not only. States can now decide on whether they want to legalize the practice or not.
According to Justice Samuel Alito, their job is to interpret the law Congress has enacted and figure out whether it’s consistent with the Constitution. PASPA isn’t consistent. As Alito notes, Congress can keep sports gambling under direct regulation. However, if it chooses not to do so, each state is free to take its own steps.
Now that PASPA is no longer the law of the land, the question is how many states will use this opportunity to their advantage. Particularly, how many states will allow sports betting and how soon they’ll get down to taking bets.
Need a Gambling Merchant Account for Your Business?
With all this in mind, look for a reputable credit card processing company to work with. Since gambling businesses are classified as high risk, you should turn only to a respectable high risk processor if you need to open a gambling merchant account for your online business.
What about different states? What do they think? Well, New Jersey plans to allow wagers at casinos in Atlantic City and at horse racing tracks. However, it’s still unclear when that’ll start.
You can already find laws passed in this regard in Pennsylvania and West Virginia. These laws would allow sports betting contingent on the Court’s decision in New Jersey’s case against the NCAA. Over 20 states have at least introduced bills concerning the legalization of the practice.
According to Raymond Lesniak, a former Democratic state senator who’s sponsored the bill, there’s plenty of action to go around. As Lesniak notes, they were originally focused on helping ailing casinos and racetrack industry, and this is going to be a big help.
Author Bio: Electronic payments expert Blair Thomas co-founded eMerchantBroker, serving both traditional and high-risk merchants by offering a gambling merchant account and other merchant services. His passions include producing music and traveling.