New Jersey officials optimistic that sports betting will be allowed

Oral arguments are scheduled to be heard by the U.S. Supreme Court on Dec. 4, and experts and officials say the scales finally appear to be tipping in New Jersey's favor.

A ruling is not expected at least until the spring, but racetrack and casino operators are so confident that they're already making preparations.

Monmouth Park CEO Dennis Drazin said the sports betting lounge could be up and running with kiosks and tellers within weeks after the decision and there are plans to expand the lounge it into the grandstand and open a full-scale Las Vegas-style sportsbook.

Eighty miles south, MGM announced last week that it will soon begin construction on a US$ 7 million sportsbook at the Borgata casino in Atlantic City. And more casinos are likely to follow.

After New Jersey voters approved sports betting in a 2011 referendum, a group of college and professional sports leagues - the NCAA, NFL, NBA, MLB, and NHL - successfully sued to stop Gov. Chris Christie's administration from implementing it.

Their argument: Not only does sports betting hurt the integrity of their games, it also violates the 1992 Professional and Amateur Sports Protection Act, which bans such wagering in all but four states.