All bets are off for now when it comes to legalized sports wagering in New Jersey.

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Today, a three-member federal Court of Appeals has upheld an earlier ruling saying that the Garden State’s sports betting law stands in violation of federal statute. The battle is not over yet.

“The only beneficiaries of today’s court decision are organized crime-run sports betting rings and offshore Internet sports betting gaming sites,” explains State Sen. Ray Lesniak, the leading advocate for legalizing sports wagering at Garden State racetracks and casinos. “We will either take our appeal to the U.S. Supreme Court or ask the entire court of appeals bench, which may give us a quicker decision, to take a look at this issue.”

Because of the 1992 Professional and Amateur Sports Protection Act, sports betting is illegal in New Jersey. Lesniak, Gov. Chris Christie and other Garden State officials firmly believe that the legalization of sports wagering would be a major boon for casinos and racetracks which would also mean more tax revenue for the chronically cash-strapped state.

The major sports leagues don’t seem very interested in what may or may not be helpful to New Jersey. Last year, after Christie signed a bill to allow sports betting, Major League Baseball, the NBA, the NHL, the NFL and the NCAA filed suit against the state.