As the tocchet/wayne gretzky betting scandal begins to infiltrate the masses (2500 articles on google news and counting), MSNBC has kindly taken the time to educate us naive readers on the current laws of sports betting.

So is sports betting legal in New Jersey, where the gambling ring was busted?
Apparantly yes, as long as no percentage or profit is made - in other words, 2 people can bet $20 that a team will win - as long as its just the straight $20 thats paid out. The second a third party takes a profit from the bet, the 'promotion of gambling' deems it illegal. Those who get caught are charged with a second or third degree crime.

Tocchet is thereby implicated because he allegedly ran the for-profit gambling ring - taking bets from many NHL players, and Wayne Gretzky's wife - on sports other than hockey.

So does anyone care? Probably not. But in the US, sports betting is legally available in very few states.

Q: Where is sports betting legal?

A: Under federal law, sports betting is legal in Nevada, Oregon, Delaware and Montana, but only Nevada and Oregon actually offer it. Nevada casinos post odds and accept wagers on professional and college sports, while Oregon has a state-run pro football pool.

Atlantic City on the other hand only offers horse race betting.

Doesn't it make sense to legalise sports betting - allowing states to reap the tax rewards and the public to have a bet on their favourite team? Well, one would think so - but gambling is the 21st century prohibition in the US - and we know how that turned out

Article: What's allowed when it comes to sports betting?Related Entries: Hockey Coach and Wayne Gretzky's Wife Embroiled in Illegal Gambling Ring