Looks like many a Las Vegas bookie could soon find themselves out of work in the near future.

The U.S. Supreme Court early Monday ruled an existing federal law preventing states from participating in sports betting was unconstitutional.

The ruling, which was handed down after New Jersey filed suit against the Professional and Amateur Sports Protection Act (PASPA), gives all states the ability to craft legislation to allow sports betting.

Beforehand, if you wanted to bet on games, individuals would ...