Monday is the big day: Oral arguments in the Supreme Court over Christie v. NCAA. It’s an understatement to say the gaming industry is getting pretty excited over the hearing, which is expected to lead to a rejection of the Bradley Act, not because SCOTUS is all hot 
and bothered for sports betting but because it infringes upon states’ autonomy. (As with Internet gambling, a fight Sheldon Adelson is losing, it’s a Tenth Amendment issue.) No fewer than 20 states — even Utah! — have weighed in against the Bradley Act, as has the American Gaming Association. The latter’s Geoff Freeman is promising real-time coverage of the hearing, which gives you some idea of the interest level in this potentially game-changing courtroom clash. “It seems to be that the wise thing to do would be to do some hearings on the issue and get the latest information as to sport as to the capabilities to secure it so that it doesn’t infiltrate with organized crime,’’ conceded former senator Dennis DiConcini, author of the Bradley Act. He’d have the support of NBA Commission Adam Silver and Major League Baseball‘s Rob Manfred, both of whom favor legalized betting — with substantial regulatory caveats attached.
Freeman says that “there are multiple signs of the sports leagues, including the NFL, taking a fresh look at this issue. You don’t place a team in Nevada, in Las Vegas, without an understanding that the issue is changing. Frankly, you don’t play games in Wembley Stadium, where most of the people in the stands are betting on their phones during the game, without an understanding that things are changing.” Yeah, Roger Goodell, we’re looking a you, especially for putting the “hype” in “hypocrite.” (The NFL is already in bed with DFS, which protesting that its sanctity would be violated if you laid a bet on the New York Jets in an Atlantic City casino.)
In the unlikely event that Gov. Chris Christie should lose his case, Reps. Frank Pallone and Matt Gaetz are pushing for a congressional re-visit to the scene of the crime. Said Gaetz, “The last time Congress made a law in this space, the movie Wayne’s World was being released.’’ As for the amount being wagered illegally, George F. Will writes, “Illegality prevents precise knowledge, but if the sum is just $150 billion, that sum exceeds the combined revenue of Microsoft, Goldman Sachs and McDonald’s,” likening current opposition to Prohibition‘s coalition of ‘bootleggers and Baptists.’ As many as 15 states, including Mississippi, are primed to launch legitimized sports betting should the Supremes just say the word.
If you’re a glutton for punishment, Global Market Advisors has released a 47-page white paper on the sports-betting subject, complete with revenue projections (worst case, 
$1.8 billion a year, best case $9 billion), in which Utah comes in last, with a best-case projection of a big, fat zero. Darn those killjoy Mormons! Aside from the predictions of rampant gambling addiction from Chicken Little opponents, the specter of game-fixing is raised. But proponents respond that their transparency of legalized betting would make it easier to spot shenanigans like funny shifts in the point spreads. “In a well-regulated market, the risk of manipulation is less,” says Sportsradar‘s Andreas Krannich. Why? Because bookies “participate in the detection and the follow-up of criminal cases.”
As for Christie, he’ll be on hand to lend moral support to New Jersey‘s legal team. He maintains “No matter which way it goes, I think [the lawsuit] was the right decision to make. I’m cautiously optimistic that we’re gonna win.” If the springtime ruling goes in Christie’s favor, expect sports betting to blossom across our great country.
* Macao just keeps on booming, up 22.5% in November, surpassing Wall Street‘s expectations. Renewed VIP play drove most of the recovery, badly lagged by the mass market. Even so, one analyst raised his price targets for Wynn Resorts and Las Vegas Sands. As for 2018, “we are now forecasting 11% market growth for the year,” wrote Deutsche Bank‘s Carlo Santarelli, taking a bullish stance. (Supercharged 2017 performance will make for more-difficult comparisons next year.)
