The state of New Jersey has taken the lead in fighting a 1992 law that prohibits sports gambling in all but four US states. New Jersey lawmakers are preparing to ask a high court to overturn the 1992 law, claiming it is unconstitutional to allow some states to offer legalized sports bets, while other cannot.

Ladbrokes gave the biggest indication yet this week that the gaming industry believes New Jersey will win their appeal in the US court system. Ladbrokes has acquired a 65% stake in Stadium Technology Group, a gaming company that has built their business around sports betting technology. The move shows how the rest of the world is viewing the gambling market and the future of that market in the US.

"The size of the US market and potential for positive regulatory change in the coming years make it a sensible place to establish a presence," said Ladbrokes CEO Richard Glynn. "Stadium Technology is already one of the key software suppliers to casinos in Nevada and Delaware and it has the potential to expand."

The move by Ladbrokes comes at a time when the gaming industry in the US is in flux. The Department of Justice opened the door in December to full-scale online casinos when they released an opinion that countered what the government had claimed for years, that all Internet gambling was illegal under the 1961 Wire Act. The DoJ, however, did maintain that sports betting on the Internet was still illegal under the law.

Ladbrokes does not only operate online sports books, but also land-based books within their casinos. The company will need to have a presence in the US to gain licenses in the future, and the acquisition of 65% of Stadium Technology gives the company that presence. Ladbrokes could begin bidding on licenses as soon as New Jersey wins the right to offer sports betting.

New Jersey legislators have already passed a bill that allows sports gambling, and Governor Chris Christie has been on record as saying he would support such a bill if the voters in the state approved the measure, which occurred last year. Christie has also softened his stance on possible online gambling in New Jersey, if the proper regulations were in place.

Ladbrokes spent $3 million for their 65% share of Stadium Technology. In addition to the sports betting aspect of the technology company, Ladbrokes also will take control of a business that has a large customer base of casinos that they supply software to.