Everyone can go to a casino and bet on sports now... in a few years you will probably be able to bet the sports game at your local convenience store like you play numbers
A friend of mine (and some of his friends) make an annual trek to Las Vegas every year - week 1 of the NCAA tournament just to bet on the opening round games. I assume they would lose a lot of that type of business, if they could just do this from a sports bar or something.
Everyone can go to a casino and bet on sports now... in a few years you will probably be able to bet the sports game at your local convenience store like you play numbers
It'll hurt them no doubt but it won't kill them. Bookies can offer something the State run gambling can't and that's credit. When you go to a casino or sports book, it's cash only. Bookies will still take your bet over the phone and let you pay later.
Although there was a concurring opinion that went with the majority, it was 6 1/2 - 2 1/2 (Breyer concurred in part and dissented in part) in favor of gambling.
Everyone can go to a casino and bet on sports now... in a few years you will probably be able to bet the sports game at your local convenience store like you play numbers
organized crime instead of the states. A few years back, Montana added fantasy sports into their lottery system. Brilliant. Cant wait until NJ can do this.
Everyone can go to a casino and bet on sports now... in a few years you will probably be able to bet the sports game at your local convenience store like you play numbers
they take bets, the bookies technically don't take cash upfront, but very few of them like extending credit. It is a necessary evil
This will kill the vast majority of action for bookies.
And if you want credit at a casino, they will make it happen, especially if you bet large enough.
Sure, you can get a credit line now when you go into a casino if you have good credit but I'm talking about the average guy who doesn't and basically calls in his bets to his local bookie. He has a tab with that bookie and pays up at an agreed upon time.
That guy is still going to his bookie when he'doesn't have cash in hand.
but might be too late. Had it happened 10 years ago would have been huge.
This is not good for AC. Since this was overturned nationally, all of the casinos in the region are just going to add sports betting also.
It'll help the in the short term as it appears NJ is ahead of other states in being ready to implement this. However NY,PA,MA and CONN aren't far behind if at all.
As far as nationally it'll probably happen but it's my understanding while still a Fed issue they've left it up to each state on whether they want to legalize it in their state. No doubt a lot will but it remains to be seen if all do and how long before they're up and running.
Everyone can go to a casino and bet on sports now... in a few years you will probably be able to bet the sports game at your local convenience store like you play numbers
The government will tax you.....bookie will not.
Considering you can offset wins with losses (though not deduct a net loss) I don't see the tax issue for the bettors as significant. The states will get the revenues from the casino profits.
and the concessions area was wall-to-wall crowded with fans talking frantically to bookies. Even with only a few holes left in the final round, there were still a zillion prop bets to be made.
They will take the vig just like every bookie and sports book in las begas does, will be no different
Correct, but there will be many more hands involved in the pie here.
The leagues now want a slice.
The states are going to take theirs...and knowing my state of Connecticut, they are going to want a massive take. Then there's the whole abortion of an agreement the state has with the two Indian groups on gambling...
but if I read a particular tweet correctly, NJ is going to try and tack on an 8% tax for your winnings from in house casino wagers and a 12½% hit from online bets.
I am just figuring out which sport will be have first gambling related scandal that will jeopardize the integrity of the sport .
my bet (HAHAH( is
college basketball point shaving
Why would legalization of gambling make that more likely? There were already hundreds of billions of dollars being gambled illegally/offshore, so whatever motivation there would be for a gambling-related scandal has existed forever.
It'll hurt them no doubt but it won't kill them. Bookies can offer something the State run gambling can't and that's credit. When you go to a casino or sports book, it's cash only. Bookies will still take your bet over the phone and let you pay later.
They were already preparing for this - should be through the roof.
Nationally what will happen is this will evolve to the European setup - where leagues and teams have deals with certain sites to make your wages.
This will kill the vast majority of action for bookies.
And if you want credit at a casino, they will make it happen, especially if you bet large enough.
Like the rest of the World.
The government will tax you.....bookie will not.
This will kill the vast majority of action for bookies.
And if you want credit at a casino, they will make it happen, especially if you bet large enough.
Sure, you can get a credit line now when you go into a casino if you have good credit but I'm talking about the average guy who doesn't and basically calls in his bets to his local bookie. He has a tab with that bookie and pays up at an agreed upon time.
That guy is still going to his bookie when he'doesn't have cash in hand.
Jim will be at Mohegan Sun every day now!!!
Extending credit really isn't too much of a factor.
Quote:
budget had this written in just in case this was overturned.
Jim will be at Mohegan Sun every day now!!!
The Sands presently. I escaped that dump 3 years ago LOL.
This is not good for AC. Since this was overturned nationally, all of the casinos in the region are just going to add sports betting also.
Quote:
but might be too late. Had it happened 10 years ago would have been huge.
This is not good for AC. Since this was overturned nationally, all of the casinos in the region are just going to add sports betting also.
It'll help the in the short term as it appears NJ is ahead of other states in being ready to implement this. However NY,PA,MA and CONN aren't far behind if at all.
As far as nationally it'll probably happen but it's my understanding while still a Fed issue they've left it up to each state on whether they want to legalize it in their state. No doubt a lot will but it remains to be seen if all do and how long before they're up and running.
How is the Sands? Is there a casino in AC or CT that you could compare it to?
Quote:
Everyone can go to a casino and bet on sports now... in a few years you will probably be able to bet the sports game at your local convenience store like you play numbers
The government will tax you.....bookie will not.
Considering you can offset wins with losses (though not deduct a net loss) I don't see the tax issue for the bettors as significant. The states will get the revenues from the casino profits.
They will take the vig just like every bookie and sports book in las begas does, will be no different
Quote:
In comment 13963000 Jim in Scranton said:
Quote:
budget had this written in just in case this was overturned.
Jim will be at Mohegan Sun every day now!!!
The Sands presently. I escaped that dump 3 years ago LOL.
That dump is where my dad is currently VP and has been there nearly 40 years :(
Quote:
I fully expect 10%+ commission on every wager. Effectively endorsing illegal wagering as a solution.
They will take the vig just like every bookie and sports book in las begas does, will be no different
Like Vegas casinos, yes. But I believe the State of Nevada doesn't. They just tax the casino profits.
Correct, but there will be many more hands involved in the pie here.
The leagues now want a slice.
The states are going to take theirs...and knowing my state of Connecticut, they are going to want a massive take. Then there's the whole abortion of an agreement the state has with the two Indian groups on gambling...
my bet (HAHAH( is
college basketball point shaving
my bet (HAHAH( is
college basketball point shaving
Why would legalization of gambling make that more likely? There were already hundreds of billions of dollars being gambled illegally/offshore, so whatever motivation there would be for a gambling-related scandal has existed forever.
maybe they will get Dennis Leary off the air.PAL.