An estimated $10 billion will be spent betting on college men’s basketball during this year’s NCAA March Madness tournament. Ninety-seven percent of that is illegal. A Supreme Court case expected to be decided this term could change that. And, if the Court rules in favor of plaintiff New Jersey, states could get a cut of the estimated $150 billion a year illegal sports betting industry. In most states, state-sponsored betting on sports is illegal, but New Jersey argues that the federal law banning sports gambling is unconstitutional. The NCAA and the sports leagues say state-sponsored betting could ruin the integrity of the game. High profile attorney and former Solicitor General Ted Olson, argued for New Jersey in December; he joins Soledad O’Brien to discuss the case.
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