US Supreme Court Case Won to Open the USA to Sport Bookmaking – Providing a New Opportunity to Nedscoin

KEY TAKEAWAYS

• The Supreme Court of USA passed a landmark judgment on Monday, 14 May 2018, legalizing sports betting, striking down a previous law that had been in vogue since 1992 barring it.
• The American state of New Jersey was at the forefront in challenging this law that had barred gambling in sports for the fear that it would encourage match-fixing and other forms of cheating.
• Now that sports gambling has been legalized it is just a matter of time before the American states draft statutes and begin to generate an income from this lucrative segment.

The Supreme Court of USA, on Monday 14 May 2018, in a landmark judgment struck down a federal law that had barred legalizing of gambling in most states across the country. This law had been in place since 1992 and the court’s decision to overturn it has been greeted by the individual states that now look forward to capitalizing on it to generate revenue.

US state of New Jersey was at the forefront in challenging the existent gambling law of the state that had barred betting for the fear that it would threaten the spirit of competition and encourage match-fixing and other forms of cheating. As per the Governor of the state, Phil Murphy, New Jersey has been at the forefront in challenging this 1992-law that barred sports gambling in all American states except Nevada, Montana, Oregon and Montana.

In addition to striking out the 1992-law, the Supreme Court also declared null and void the federal act on sports protection and upheld the 2014 state law that permitted that permitted betting at casinos and racetracks. As a result of this ruling, equities and shares of gaming entities and casinos registered a massive jump, with some even registering a record high.

Increase in gambling stocks ranged between 10 and 11% while racing stocks rose by 4.9%, the highest ever gain recorded. New Jersey presented the argument that the 1992 federal law infringed upon the sovereignty of the state to issue a license for sports betting. The Supreme Court concurred with this opinion, thus legalizing sports gambling and enabling states like New York, Pennsylvania, Connecticut and so on to make use of this lucrative segment as a source of revenue.

This decision impacts all companies related to sports gambling, in particular, Nedscoin, and enables them to access a new opportunity in an untapped market.

About Nedscoin 

Neds is an Australian bookmaker that launched in October 2017 which signed up 70,000 clients in its first three months and took in bets over $230 million during that time.

It is looking to raise $60M through an Initial Coin Offering which has a 0.25% of turnover distribution attached to it as well as utility value. The difference between typical ICOs and Neds’ ICO is that Neds is a serious business on  massive growth trajectory.

Key Investment Highlights:

• Experienced Management Team backed by Dean Shannon who has a proven record in establishing online businesses and exiting them
• Guaranteed buy back in the first 4 years if there is a chance of control in Neds
• Existing operating business with forecast turnover of $1.4 Billion in Australia alone in CY2018
• First bookmaker to offer a quarterly distribution to eligible token holders linked to Turnover (Top Line Figure)
• Forecast Yield of 6.5% in 2019 and growing
• Licenced Operation
• Proceeds to be used to scale globally (WIP) into UK, Africa, Europe and potentially North America which will further increase the distribution

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