Legalizing Sports Gambling

[UTC]

A very distinct possibility. I would think this would be a huge blow to the mob.
Thoughts?

[cdc]

I think this would be the biggest blow to the mob since RICO.

[Confederate]

A very distinct possibility. I would think this would be a huge blow to the mob.
Thoughts?

The Mob would go down even more quickly than they are presently, especially the smaller Families. Legalized Sports Gambling would be a slow death sentence.

[Petespin]

They legalized sports betting on horse racing in New York many years past. It was called Off Track betting. They went out of business, yet the mob is still taking bets.

[cdc]

Horse racing is peanuts compared to nfl, nba and mlb. I don’t think it’s a valid comparison.

[UTC]

Crushing. And the teams, leagues, etc are already meeting and gearing up for it. I see this as putting a large % of guys right out of business. Drugs will be the last frontier. Thus, maybe an opportunity for Sicilians/Calabrians to move in?

I see what you mean Petespin, but I don't know if that's a great analogy for the big gala affair this is going to be. OTB parlors are the pits.

[UTC]

I'm going to have to oppose legalization, as a threat to the forums.

[AndyHaHa]

Honestly as long as underground books offer credit ,then then they will always have a place

[Petespin]

Crushing. And the teams, leagues, etc are already meeting and gearing up for it. I see this as putting a large % of guys right out of business. Drugs will be the last frontier. Thus, maybe an opportunity for Sicilians/Calabrians to move in?

I see what you mean Petespin, but I don't know if that's a great analogy for the big gala affair this is going to be. OTB parlors are the pits.

It is not the same but meant as a small example. I wonder if it would be the same if all sports betting was legalized.

[UTC]

They'd have to do something to make it more financially attractive to go with them, but it would be steep uphill, in my opinion. They'd have a one stop shopping with the loans, but that's only a sub-segment of the customer base.

[Wiseguy]

I've read a few articles here and there on the issue but am still not totally clear on why so many consider sports gambling being legalized a foregone conclusion. The major sports organizations have always been against it. I'd be disappointed if the currently conservative-moving Supreme Court legalized it.

Anyway, being as sports betting is so fundamental to the modern-day mob, there's no question it would hurt. The question is how much? As has been said, there will always be some bettors out there who want to bet on credit, without having to drive to a casino or wherever to put up the cash up front, and don't want to pay taxes on their winnings.

It may be tempting to make comparisons to the numbers racket and how it was affected by the state lottery. I think it had an impact too but it seems the numbers racket has also been affected by generational changes while betting on sports is as big as ever.


By the way, there was discussion on this subject not too long ago...

viewtopic.php?f=29&t=3064

[SonnyBlackstein]

I'm going to have to oppose legalization, as a threat to the forums.

This is funny as fuck.


Agree it marginalizes a significant percentage of an already marginalized mob.

So many traditional mob rackets have gone. Extortion, once a staple in Italian communities is almost unheard of today unless your surname is DeLuca and a twenty a month wets your whistle. Unions, oversight and the G have made large scale control difficult, not unheard of, but difficult at best. Politics, LONG gone. Sorry Chi fans. Bootlegging.
Betting and loan are, with drugs, the last remaining rackets a mob guy can look at.

Was this thread started with ‘news’ that sports betting is about to be/ being considered for, legalization? Or is this just a ‘what if’ thread?

[yatescj7781]

I've read a few articles here and there on the issue but am still not totally clear on why so many consider sports gambling being legalized a foregone conclusion. The major sports organizations have always been against it. I'd be disappointed if the currently conservative-moving Supreme Court legalized it.

Anyway, being as sports betting is so fundamental to the modern-day mob, there's no question it would hurt. The question is how much? As has been said, there will always be some bettors out there who want to bet on credit, without having to drive to a casino or wherever to put up the cash up front, and don't want to pay taxes on their winnings.

It may be tempting to make comparisons to the numbers racket and how it was affected by the state lottery. I think it had an impact too but it seems the numbers racket has also been affected by generational changes while betting on sports is as big as ever.


By the way, there was discussion on this subject not too long ago...

viewtopic.php?f=29&t=3064

Im surprised at this day and age gambling is still stigmatized and seen as taboo. Especially when more and more states legalize marijuana. Gambling should be legalized nationwide. And on the OC issue, It might cut into their bottom line, but not for long. These guys adapt and adjust. They could get into the payday/paycheck loan business and be legit. Probably make more money IMO.

[Teddy Persico]

Was this thread started with ‘news’ that sports betting is about to be/ being considered for, legalization? Or is this just a ‘what if’ thread?

The NBA has already began discussing how they can profit from legalized gambling. They aren't happy with casinos and bookies getting all the action. Sports teams have become financial power houses (the Warriors were bought in 2010 for $450 million and have quadrupled in value since) and don't want to be left out of the potential revenue stream.

[Snakes]

I believe the NBA was discussing taking a 1% cut from each bet placed, so there is a possibility that "legal" sportsbooks would raise their juice to compensate for the loss. Street books typically have better juice than online books or casinos so that's another advantage mob books have.