Ladies and gentlemen, place your bets. Wisconsin’s governor has signed a historic agreement to, for the first time, legalize betting on sports in Wisconsin. The Supreme Court opened the door to sports betting three years ago, and a number of states have already adopted plans to legalize betting on sporting events. Wisconsin is taking small steps to do so under this agreement, allowing betting on the Packers, Brewers, Bucks and other professional sports. But only on properties owned by the Oneida nation. Customers could bet on their phones, but only in locations where the tribe owns property. That is more restrictive than what is happening in other states. Right now, the deal, which still needs approval of the federal government, only applies to the Oneida Nation, but other tribes are said to be in or ready to begin negotiations with the state. This could provide huge new tax revenues for the state. Iowa, Illinois and Michigan have already legalized sports betting, and Wisconsin will become the 21st state to do so. Many states have brought in significant revenues from legalizing sports betting. Wisconsin is wise to join their ranks, but should stop taking baby steps and go all in on sports gambling.