A Fine Nine At Meadowlands As New Jersey Sports Betting Starts Strong
The Associated Press reports that FanDuel Sportsbook at Meadowlands Racetrack took almost $3.5 million in wagers in its first nine days. That report on handle follows an encouraging opening-weekend figure of $1 million. Meadowlands is one of just four casinos in New Jersey accepting sports wagers at the moment. That likely will not be the case for long, as the state Division of Gaming Enforcement approves other New Jersey sports betting applications.
https://www.legalsportsreport.com/22264 ... s-betting/
PointsBet Will Bring An Edgy Twist To New Jersey, New York Sports Betting
That traditional offering will provide an entry path to PointsBet’s signature product — Points Betting, a high-risk, high-reward offering. A bettor’s profit or loss depends on how close the final number is to the spread. Let’s use an NBA total as an example. If you bet $10 on the over at 225 and the total lands at 235, you win 10 times your wager — $100. That’s the high-reward part.
https://www.legalsportsreport.com/22235 ... rtnership/
Supreme Court Ruling on Sports Betting
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willychichi
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Re: Supreme Court Ruling on Sports Betting
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
Re: Supreme Court Ruling on Sports Betting
State-by-state sports betting bill tracker
Already there
1. Nevada
No longer the only state to permit a wide variety of legal sports betting, Nevada is a mature market that has existed for decades. Many states might look to Nevada for the best practices in the regulation of sports betting. Nevada could even be designated as a national hub of sorts, via agreements with other states on topics such as oversight, liquidity, line monitoring and risk management.
2. Delaware
On June 5, 2018, Delaware moved to offer single-game betting on a number of different sports at three casinos in the state. Expanded sports wagering options could take place at additional locations or online in the coming months. Delaware's authorization of what Gov. John Carney described as "a full-scale sports gaming operation" happened less than a month after the Supreme Court ruled that the federal law restricting single-game betting to Nevada was unconstitutional.
3. New Jersey
On June 11, 2018, Gov. Phil Murphy signed the sports betting bill that had passed the previous week. A William Hill sportsbook at Monmouth Park took the first bets on Thursday, June 14 at 10:30 a.m. ET. Gov. Murphy was the first customer in line. The Borgata in Atlantic City booked sports bets 30 minutes later. Other sportsbooks in New Jersey opened soon thereafter. For example, FanDuel's first sportsbook at the Meadowlands opened its doors on July 14.
On-deck circle
4. Mississippi
Mississippi enacted a new law in 2017 that allowed for sports betting. In June 2018, the Mississippi Gaming Commission adopted implementing regulations that could see the state go live with legalized sports betting before college and pro football begin in late August. Already-licensed casinos in the state would likely be first in line to offer sports betting. The Mississippi law does not mandate that sportsbook operators pay any fees to leagues for integrity services, royalties or data.
5. West Virginia
In March 2018, the West Virginia legislature passed a new sports betting bill. The West Virginia Lottery Commission would oversee regulating under the new law. The law includes a provision to allow for both in-person and online sports wagering within the state. West Virginia gaming officials announced the completion of sports betting regulations in June 2018. "Our goal is to be up and running by football season," said Danielle Boyd, managing general counsel for the West Virginia Lottery.
6. Pennsylvania
In October 2017, Gov. Tom Wolf signed a new sports betting bill as part of a broad legislation push that included online poker and DFS. "My hope is that Pennsylvania will be positioned to offer sports betting sometime in 2018," said Rep. Rob Matzie, the author of the new law, after it was enacted. With the Supreme Court's decision in May 2018, the new law can now take effect and sports betting could begin as soon as state officials finalize regulations to oversee the rollout. In a June 15, 2018 letter to Pennsylvania officials, the NFL expressed concerns about consumer protections, data, enforcement and other hot-button issues.
7. Rhode Island
On June 22, 2018, Gov. Gina Raimondo signed the state budget, which included language allowing sports betting. Only two locations -- one in Lincoln and one in Tiverton -- would be allowed to offer sports betting. The state's lottery would oversee the process and Oct. 1 has been suggested as a likely start date. Only bets placed in-person would be allowed at the two locations, as the new law does not provide for mobile betting.
8. New York
In 2013, New York passed a law to allow sports betting at four on-site locations. After lying dormant for the past five years, the law could be revived and put into action after the Supreme Court's decision in the New Jersey case. The New York State Gaming Commission is aiming to complete regulations "in the short term" for the four locations specified in the 2013 law. Legislation that would have allowed for full-scale sports betting in New York failed in June 2018, but could be re-introduced in 2019.
Moving toward legalization
9. Connecticut
After enacting a scaled-down anticipatory law in 2017, Connecticut saw a comprehensive sports betting bill introduced during the first part of 2018. The state held hearings and received testimony from a variety of stakeholders, including representatives from the NBA and MLB. The state legislative session closed without a formal vote on the comprehensive bill, but Gov. Dannel Malloy -- shortly after the Supreme Court issued its ruling -- suggested that he may call a special session of the Connecticut legislature to re-start discussions about legalizing sports betting.
10. Illinois
In January 2018, a Senate bill called the "Sports Betting Consumer Protection Act" was introduced. The draft bill could "authorize sports betting or electronic sports betting by an electronic sports betting patron or sports betting facility patron." Illinois saw several other sports betting bills introduced in 2018, too. Hearings were held about the various bills, but no formal vote has yet been taken.
11. Kentucky
On June 25, 2017, Sen. Julian M. Carroll introduced a marked-up 27-page bill that would empower Kentucky's racing commission to "institute a system of sports wagering." The bill would allow betting on pro and college sports, but not high school or other adolescent amateur sports. It includes a hefty tax rate -- 3 percent of handle -- and an initial licensing fee of $250,000. The bill also permits sports league representatives to serve on the racing commission.
12. Michigan
In 2017, legislation was introduced to amend the state's current gaming control law. Michigan's proposed bill would allow any holder of a casino license to "accept wagers on sporting events." The state's gaming board would be required to "promulgate rules to regulate the conduct of sports betting under this act." In 2018, the Michigan legislature adjourned without action on the sports betting bill.
13. Indiana
One version of a January 2018 bill introduced in Indiana would allocate a 1 percent "integrity fee" to specific sports leagues based on wagering handle. The bill also would require a 9.25 percent tax on sports betting-related revenue. Bill sponsor Alan Morrison -- a member of the Indiana House -- said the bill resulted after some input from the NBA and MLB. A different sports betting bill was introduced on the Senate side. The 2018 Indiana legislative session closed with no vote on either bill.
14. Massachusetts
In February 2018, the Massachusetts Gaming Commission released a comprehensive 31-page white paper to provide a "roadmap for those seeking to learn about the current landscape of the sports betting discussion in the country and its possibilities in Massachusetts." In January 2018, Senate bill 2273 was floated to study sports betting. Massachusetts was one of the first jurisdictions to address the legality of daily fantasy sports and could conceivably move quickly on the sports betting front too.
15. Maryland
Maryland House Bill No. 989 was introduced on Feb. 9 and calls for the establishment of a task force to "study the implementation of sports gaming in the state." The draft legislation includes the allocation of a "sports gaming license" and the ability to accept wagers on sporting events if the bettor is at least 21 years of age. The proposed Maryland legislation did not move forward in the 2018 legislative session.
16. Minnesota
In April 2018, a draft sports betting bill was circulated in the Minnesota legislature. Rep. Pat Garofalo was reportedly the strongest supporter of the bill, which would have authorized sports wagering and created an overseeing commission. The draft bill included a clause to enable mobile betting, too. The Minnesota legislature adjourned in May without any action on the bill.
17. Missouri
In January 2018, Rep. Bart Korman introduced a new bill that would have allowed already-licensed riverboat casinos and daily fantasy companies to expand their offerings to include traditional sports betting. Legislative hearings were held in Missouri prior to the Supreme Court's ruling, but the bill did not advance beyond the committee stage.
18. Kansas
A proposed law "relating to sports gambling" was introduced January 2018. The bill would have expanded the purview of the Kansas lottery to sports betting involving "one or more competitive games in which amateur or professional athletes participate, or are intended to participate, or on one or more performances of such athletes in such games." Kansas held sports betting hearings in the months before the Supreme Court issued its decision, but took no action afterward.
19. Iowa
A bill proposed in January 2018 would have allowed casinos and racetracks licensed in Iowa to offer sports betting on-site and possibly online. A February 2018 amendment to the proposed bill included language more favorable to certain sports leagues lobbying in the state. The 2018 Iowa legislative window closed without any vote.
20. Louisiana
A House bill was introduced in 2018 to authorize "additional games and sports betting at eligible live horse racing facilities." The new legislation, which was introduced in March 2018, was narrowly tailored and would only have allowed sports betting at the small number of land-based racinos already operating in the state. The Louisiana bill did not move forward during the state's legislative session.
21. Oklahoma
A bill was introduced to allow the Oklahoma governor to expand the tribal-state compact and include "sports pools." The expansion would have consisted of "wagering on the outcome of one or more competitive games in which athletes participate, or on one or more performances of such athletes in such games where all bets are placed in a common pool or pot from which all player winnings, prizes and direct costs are paid." The Oklahoma's legislative session ended with no action being taken on its bill.
22. South Carolina
Introduced in 2017, House Bill No. 3102 would have amended South Carolina's Constitution to allow "sports betting on professional sports." Any betting would have been "strictly" regulated and limited to "specified" areas. According to a court document from the now-resolved New York daily fantasy litigation involving DraftKings and FanDuel, South Carolina's current definition of gambling "includes betting money on the outcome of any 'game,' regardless of the skill involved in the game." The bill was not enacted prior to the close of the legislative session.
23. California
In July 2017, Assembly member Adam Gray introduced a constitutional amendment that would allow the state "to permit sports wagering only if a change in federal law occurs." The proposed amendment specifically referred to PASPA. "All other gaming activities in California are subject to regulations that ensure the safety of consumers," Gray said in a press release. "Sports wagering should be treated no differently." Within hours of the Supreme Court ruling, Gray reiterated his desire to further a pro-sports betting constitutional amendment. California also has a pending voter referendum that could legalize sports betting.
24. Oregon
Oregon already has a law on the books permitting some forms of sports betting, and the law could be expanded in the future if lawmakers are so inclined. For years, Oregon was one of the small number of states exempted under PASPA because it offered sports betting before Congress intervened. For example, the Oregon Lottery offered a football-themed pick 'em-style game for years before mothballing it about a decade ago.
25. Montana
Like Oregon, Montana already has a law on the books allowing certain types of sports betting in the state. The Montana Lottery currently offers a fantasy-type sports pool for football and auto racing. If Montana lawmakers sought to expand its permissible sports betting offerings, they would probably need to enact a new law or empower the Montana Lottery to release new regulations.
26. Ohio
On July 12, 2018, a group of five Ohio state senators formally introduced a bill to "express the intent of the General Assembly to develop and enact legislation legalizing sports wagering." The one-page bill lacks specifics, but is a placeholder of sorts for Ohio to consider full-scale legislation at a later date.
No legalization activity ... yet
27-50. Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Hawaii, Idaho, Maine, Nebraska, New Hampshire, New Mexico, North Carolina, North Dakota, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington D.C., Washington state, Wisconsin and Wyoming
All states in this category have laws that prohibit full-blown sports betting. Such laws would need to be repealed or amended before full-scale sports wagering would be permitted. These states do not have any publicly announced bills devoted to sports betting legalization.
Unlikely
51. Utah
Utah's anti-gambling stance is written into the state's constitution. Any change to existing state policy toward gambling would be a massive departure from decades of opposition to any form of gambling, including lottery tickets, table games and sports betting.
http://www.espn.com/chalk/story/_/id/19 ... -50-states
Already there
1. Nevada
No longer the only state to permit a wide variety of legal sports betting, Nevada is a mature market that has existed for decades. Many states might look to Nevada for the best practices in the regulation of sports betting. Nevada could even be designated as a national hub of sorts, via agreements with other states on topics such as oversight, liquidity, line monitoring and risk management.
2. Delaware
On June 5, 2018, Delaware moved to offer single-game betting on a number of different sports at three casinos in the state. Expanded sports wagering options could take place at additional locations or online in the coming months. Delaware's authorization of what Gov. John Carney described as "a full-scale sports gaming operation" happened less than a month after the Supreme Court ruled that the federal law restricting single-game betting to Nevada was unconstitutional.
3. New Jersey
On June 11, 2018, Gov. Phil Murphy signed the sports betting bill that had passed the previous week. A William Hill sportsbook at Monmouth Park took the first bets on Thursday, June 14 at 10:30 a.m. ET. Gov. Murphy was the first customer in line. The Borgata in Atlantic City booked sports bets 30 minutes later. Other sportsbooks in New Jersey opened soon thereafter. For example, FanDuel's first sportsbook at the Meadowlands opened its doors on July 14.
On-deck circle
4. Mississippi
Mississippi enacted a new law in 2017 that allowed for sports betting. In June 2018, the Mississippi Gaming Commission adopted implementing regulations that could see the state go live with legalized sports betting before college and pro football begin in late August. Already-licensed casinos in the state would likely be first in line to offer sports betting. The Mississippi law does not mandate that sportsbook operators pay any fees to leagues for integrity services, royalties or data.
5. West Virginia
In March 2018, the West Virginia legislature passed a new sports betting bill. The West Virginia Lottery Commission would oversee regulating under the new law. The law includes a provision to allow for both in-person and online sports wagering within the state. West Virginia gaming officials announced the completion of sports betting regulations in June 2018. "Our goal is to be up and running by football season," said Danielle Boyd, managing general counsel for the West Virginia Lottery.
6. Pennsylvania
In October 2017, Gov. Tom Wolf signed a new sports betting bill as part of a broad legislation push that included online poker and DFS. "My hope is that Pennsylvania will be positioned to offer sports betting sometime in 2018," said Rep. Rob Matzie, the author of the new law, after it was enacted. With the Supreme Court's decision in May 2018, the new law can now take effect and sports betting could begin as soon as state officials finalize regulations to oversee the rollout. In a June 15, 2018 letter to Pennsylvania officials, the NFL expressed concerns about consumer protections, data, enforcement and other hot-button issues.
7. Rhode Island
On June 22, 2018, Gov. Gina Raimondo signed the state budget, which included language allowing sports betting. Only two locations -- one in Lincoln and one in Tiverton -- would be allowed to offer sports betting. The state's lottery would oversee the process and Oct. 1 has been suggested as a likely start date. Only bets placed in-person would be allowed at the two locations, as the new law does not provide for mobile betting.
8. New York
In 2013, New York passed a law to allow sports betting at four on-site locations. After lying dormant for the past five years, the law could be revived and put into action after the Supreme Court's decision in the New Jersey case. The New York State Gaming Commission is aiming to complete regulations "in the short term" for the four locations specified in the 2013 law. Legislation that would have allowed for full-scale sports betting in New York failed in June 2018, but could be re-introduced in 2019.
Moving toward legalization
9. Connecticut
After enacting a scaled-down anticipatory law in 2017, Connecticut saw a comprehensive sports betting bill introduced during the first part of 2018. The state held hearings and received testimony from a variety of stakeholders, including representatives from the NBA and MLB. The state legislative session closed without a formal vote on the comprehensive bill, but Gov. Dannel Malloy -- shortly after the Supreme Court issued its ruling -- suggested that he may call a special session of the Connecticut legislature to re-start discussions about legalizing sports betting.
10. Illinois
In January 2018, a Senate bill called the "Sports Betting Consumer Protection Act" was introduced. The draft bill could "authorize sports betting or electronic sports betting by an electronic sports betting patron or sports betting facility patron." Illinois saw several other sports betting bills introduced in 2018, too. Hearings were held about the various bills, but no formal vote has yet been taken.
11. Kentucky
On June 25, 2017, Sen. Julian M. Carroll introduced a marked-up 27-page bill that would empower Kentucky's racing commission to "institute a system of sports wagering." The bill would allow betting on pro and college sports, but not high school or other adolescent amateur sports. It includes a hefty tax rate -- 3 percent of handle -- and an initial licensing fee of $250,000. The bill also permits sports league representatives to serve on the racing commission.
12. Michigan
In 2017, legislation was introduced to amend the state's current gaming control law. Michigan's proposed bill would allow any holder of a casino license to "accept wagers on sporting events." The state's gaming board would be required to "promulgate rules to regulate the conduct of sports betting under this act." In 2018, the Michigan legislature adjourned without action on the sports betting bill.
13. Indiana
One version of a January 2018 bill introduced in Indiana would allocate a 1 percent "integrity fee" to specific sports leagues based on wagering handle. The bill also would require a 9.25 percent tax on sports betting-related revenue. Bill sponsor Alan Morrison -- a member of the Indiana House -- said the bill resulted after some input from the NBA and MLB. A different sports betting bill was introduced on the Senate side. The 2018 Indiana legislative session closed with no vote on either bill.
14. Massachusetts
In February 2018, the Massachusetts Gaming Commission released a comprehensive 31-page white paper to provide a "roadmap for those seeking to learn about the current landscape of the sports betting discussion in the country and its possibilities in Massachusetts." In January 2018, Senate bill 2273 was floated to study sports betting. Massachusetts was one of the first jurisdictions to address the legality of daily fantasy sports and could conceivably move quickly on the sports betting front too.
15. Maryland
Maryland House Bill No. 989 was introduced on Feb. 9 and calls for the establishment of a task force to "study the implementation of sports gaming in the state." The draft legislation includes the allocation of a "sports gaming license" and the ability to accept wagers on sporting events if the bettor is at least 21 years of age. The proposed Maryland legislation did not move forward in the 2018 legislative session.
16. Minnesota
In April 2018, a draft sports betting bill was circulated in the Minnesota legislature. Rep. Pat Garofalo was reportedly the strongest supporter of the bill, which would have authorized sports wagering and created an overseeing commission. The draft bill included a clause to enable mobile betting, too. The Minnesota legislature adjourned in May without any action on the bill.
17. Missouri
In January 2018, Rep. Bart Korman introduced a new bill that would have allowed already-licensed riverboat casinos and daily fantasy companies to expand their offerings to include traditional sports betting. Legislative hearings were held in Missouri prior to the Supreme Court's ruling, but the bill did not advance beyond the committee stage.
18. Kansas
A proposed law "relating to sports gambling" was introduced January 2018. The bill would have expanded the purview of the Kansas lottery to sports betting involving "one or more competitive games in which amateur or professional athletes participate, or are intended to participate, or on one or more performances of such athletes in such games." Kansas held sports betting hearings in the months before the Supreme Court issued its decision, but took no action afterward.
19. Iowa
A bill proposed in January 2018 would have allowed casinos and racetracks licensed in Iowa to offer sports betting on-site and possibly online. A February 2018 amendment to the proposed bill included language more favorable to certain sports leagues lobbying in the state. The 2018 Iowa legislative window closed without any vote.
20. Louisiana
A House bill was introduced in 2018 to authorize "additional games and sports betting at eligible live horse racing facilities." The new legislation, which was introduced in March 2018, was narrowly tailored and would only have allowed sports betting at the small number of land-based racinos already operating in the state. The Louisiana bill did not move forward during the state's legislative session.
21. Oklahoma
A bill was introduced to allow the Oklahoma governor to expand the tribal-state compact and include "sports pools." The expansion would have consisted of "wagering on the outcome of one or more competitive games in which athletes participate, or on one or more performances of such athletes in such games where all bets are placed in a common pool or pot from which all player winnings, prizes and direct costs are paid." The Oklahoma's legislative session ended with no action being taken on its bill.
22. South Carolina
Introduced in 2017, House Bill No. 3102 would have amended South Carolina's Constitution to allow "sports betting on professional sports." Any betting would have been "strictly" regulated and limited to "specified" areas. According to a court document from the now-resolved New York daily fantasy litigation involving DraftKings and FanDuel, South Carolina's current definition of gambling "includes betting money on the outcome of any 'game,' regardless of the skill involved in the game." The bill was not enacted prior to the close of the legislative session.
23. California
In July 2017, Assembly member Adam Gray introduced a constitutional amendment that would allow the state "to permit sports wagering only if a change in federal law occurs." The proposed amendment specifically referred to PASPA. "All other gaming activities in California are subject to regulations that ensure the safety of consumers," Gray said in a press release. "Sports wagering should be treated no differently." Within hours of the Supreme Court ruling, Gray reiterated his desire to further a pro-sports betting constitutional amendment. California also has a pending voter referendum that could legalize sports betting.
24. Oregon
Oregon already has a law on the books permitting some forms of sports betting, and the law could be expanded in the future if lawmakers are so inclined. For years, Oregon was one of the small number of states exempted under PASPA because it offered sports betting before Congress intervened. For example, the Oregon Lottery offered a football-themed pick 'em-style game for years before mothballing it about a decade ago.
25. Montana
Like Oregon, Montana already has a law on the books allowing certain types of sports betting in the state. The Montana Lottery currently offers a fantasy-type sports pool for football and auto racing. If Montana lawmakers sought to expand its permissible sports betting offerings, they would probably need to enact a new law or empower the Montana Lottery to release new regulations.
26. Ohio
On July 12, 2018, a group of five Ohio state senators formally introduced a bill to "express the intent of the General Assembly to develop and enact legislation legalizing sports wagering." The one-page bill lacks specifics, but is a placeholder of sorts for Ohio to consider full-scale legislation at a later date.
No legalization activity ... yet
27-50. Alabama, Alaska, Arizona, Arkansas, Colorado, Florida, Georgia, Hawaii, Idaho, Maine, Nebraska, New Hampshire, New Mexico, North Carolina, North Dakota, South Dakota, Tennessee, Texas, Vermont, Virginia, Washington D.C., Washington state, Wisconsin and Wyoming
All states in this category have laws that prohibit full-blown sports betting. Such laws would need to be repealed or amended before full-scale sports wagering would be permitted. These states do not have any publicly announced bills devoted to sports betting legalization.
Unlikely
51. Utah
Utah's anti-gambling stance is written into the state's constitution. Any change to existing state policy toward gambling would be a massive departure from decades of opposition to any form of gambling, including lottery tickets, table games and sports betting.
http://www.espn.com/chalk/story/_/id/19 ... -50-states
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All roads lead to New York.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
NBA strikes sports betting deal with MGM as official partner
The NBA announced Tuesday that MGM Resorts International will be the league’s official gaming partner, the first partnership of its kind with a major sports league in the United States. The partnership is the next step in the process of betting becoming an accepted part of the sports culture in the United States after decades during which the major sports leagues shunned any official association with gambling. Earlier this year, however, the Supreme Court struck down a federal law that effectively banned sports betting in most states, paving the way for major changes in the sports business in this country.
Read more: https://www.nytimes.com/2018/07/31/spor ... g-mgm.html
The NBA announced Tuesday that MGM Resorts International will be the league’s official gaming partner, the first partnership of its kind with a major sports league in the United States. The partnership is the next step in the process of betting becoming an accepted part of the sports culture in the United States after decades during which the major sports leagues shunned any official association with gambling. Earlier this year, however, the Supreme Court struck down a federal law that effectively banned sports betting in most states, paving the way for major changes in the sports business in this country.
Read more: https://www.nytimes.com/2018/07/31/spor ... g-mgm.html
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
You don't have to leave home now to place a bet in Jersey.
DraftKings brings full mobile sportsbetting to New Jersey
That soft opening DraftKings had with its mobile app last week for sports betting is now hardcore. If you’re in New Jersey, anywhere in New Jersey, the window is now open. “Being first is a huge testament to our product development team,” DraftKings co-founder Matt Kalish said Monday morning, “And a major point of pride for us.” Because of its partnership with Atlantic City’s Resorts Casino, DraftKings is licensed to offer sports wagering through its app and website. Only caveat is that the bettor has to be physically in the state of New Jersey. The IP address, something George Orwell tried to warn us about, will know.
Read more: http://www.philly.com/philly/sports/mob ... 80806.html
DraftKings brings full mobile sportsbetting to New Jersey
That soft opening DraftKings had with its mobile app last week for sports betting is now hardcore. If you’re in New Jersey, anywhere in New Jersey, the window is now open. “Being first is a huge testament to our product development team,” DraftKings co-founder Matt Kalish said Monday morning, “And a major point of pride for us.” Because of its partnership with Atlantic City’s Resorts Casino, DraftKings is licensed to offer sports wagering through its app and website. Only caveat is that the bettor has to be physically in the state of New Jersey. The IP address, something George Orwell tried to warn us about, will know.
Read more: http://www.philly.com/philly/sports/mob ... 80806.html
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
Buffalo Wild Wings explores adding sports betting
http://www.espn.com/chalk/story/_/id/24 ... estaurants
http://www.espn.com/chalk/story/_/id/24 ... estaurants
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
Re: Supreme Court Ruling on Sports Betting
I’ve been going to the Meadowlands once a week and it gets a big crowd considering its only mlb season
Last night some dude won $171k on a $6k parlay and he was paid in cash in their back room and escorted by security.
Also taxes are only taken out by the book if you win $10k+ and fan duel is building a brand new sports book bar in Meadowlands which will be in addition to their current Victory Bar which is also being re done ( was already nice)
This could take a bigger bite from the bookies then expected as big Corp $ is going into legal booking . I meet up with some friends from JC who bet regularly with their corner bodega so they have to already be losing a little ( btw I have a strong hunch wiseguys are behind this as it’s pretty widespread and organized in JC which has always west side strong hold and how they operate )
I doubt they are really feeling it yet but in a few years bookies could be looking at a pay cut and could be that last big blow to change the life as sports is what employs most of their guys .
Not being taxed on winnings under $10k is a major + to compete with illegal books . Would be awesome to monitor wiretaps to see what the wise guys are saying
Last night some dude won $171k on a $6k parlay and he was paid in cash in their back room and escorted by security.
Also taxes are only taken out by the book if you win $10k+ and fan duel is building a brand new sports book bar in Meadowlands which will be in addition to their current Victory Bar which is also being re done ( was already nice)
This could take a bigger bite from the bookies then expected as big Corp $ is going into legal booking . I meet up with some friends from JC who bet regularly with their corner bodega so they have to already be losing a little ( btw I have a strong hunch wiseguys are behind this as it’s pretty widespread and organized in JC which has always west side strong hold and how they operate )
I doubt they are really feeling it yet but in a few years bookies could be looking at a pay cut and could be that last big blow to change the life as sports is what employs most of their guys .
Not being taxed on winnings under $10k is a major + to compete with illegal books . Would be awesome to monitor wiretaps to see what the wise guys are saying
Re: Supreme Court Ruling on Sports Betting
So the legal books themselves are paying all taxes on winnings under $10k?TommyNoto wrote: ↑Thu Aug 09, 2018 3:55 pm I’ve been going to the Meadowlands once a week and it gets a big crowd considering its only mlb season
Last night some dude won $171k on a $6k parlay and he was paid in cash in their back room and escorted by security.
Also taxes are only taken out by the book if you win $10k+ and fan duel is building a brand new sports book bar in Meadowlands which will be in addition to their current Victory Bar which is also being re done ( was already nice)
This could take a bigger bite from the bookies then expected as big Corp $ is going into legal booking . I meet up with some friends from JC who bet regularly with their corner bodega so they have to already be losing a little ( btw I have a strong hunch wiseguys are behind this as it’s pretty widespread and organized in JC which has always west side strong hold and how they operate )
I doubt they are really feeling it yet but in a few years bookies could be looking at a pay cut and could be that last big blow to change the life as sports is what employs most of their guys .
Not being taxed on winnings under $10k is a major + to compete with illegal books . Would be awesome to monitor wiretaps to see what the wise guys are saying
All roads lead to New York.
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NJShore4Life
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Re: Supreme Court Ruling on Sports Betting
I don’t see myself switching over to the legitimate books anytime soon.
-Dante
-Dante
Re: Supreme Court Ruling on Sports Betting
Wiseguy wrote: ↑Thu Aug 09, 2018 4:33 pmSo the legal books themselves are paying all taxes on winnings under $10k?TommyNoto wrote: ↑Thu Aug 09, 2018 3:55 pm I’ve been going to the Meadowlands once a week and it gets a big crowd considering its only mlb season
Last night some dude won $171k on a $6k parlay and he was paid in cash in their back room and escorted by security.
Also taxes are only taken out by the book if you win $10k+ and fan duel is building a brand new sports book bar in Meadowlands which will be in addition to their current Victory Bar which is also being re done ( was already nice)
This could take a bigger bite from the bookies then expected as big Corp $ is going into legal booking . I meet up with some friends from JC who bet regularly with their corner bodega so they have to already be losing a little ( btw I have a strong hunch wiseguys are behind this as it’s pretty widespread and organized in JC which has always west side strong hold and how they operate )
I doubt they are really feeling it yet but in a few years bookies could be looking at a pay cut and could be that last big blow to change the life as sports is what employs most of their guys .
Not being taxed on winnings under $10k is a major + to compete with illegal books . Would be awesome to monitor wiretaps to see what the wise guys are saying
That’s a good question . All i know is when I bet $100 I won $100 ( no 8% tax like I read ) so I’m not sure if it’s the book that pays the tax or the state is relying on people to be honest on their tax returns lol.
My guess is the Sportsbook pays tax on winnings and players pay on big hits .
I agree Dante , same here but once a week I’m over there along with a lot of other regular players . They won’t go out of business but I can see them losing 15-20% of their volume in the next few years , especially on the big events. I’m curious to see NFL Sunday’s and once all the bars are up I don’t think they will have a problem doing well over $1m a day
Also they have live in game betting which is cool . I give the state credit for coming up with a structure that might actually be competitive with the black market . Some other states seem to be playing stupid with taxes and will result in them losing sports entertainment market .
With weed and sports NJ seems to have an actual plan to increase tourism dollars plus new in state revenue .
Re: Supreme Court Ruling on Sports Betting
Also my boy ( who is a degenerate gambler whose has been in some scary debt positions ) is tight with a mngr at Victory who said ( FWIW) the average wager was close to $1,000 which was very surprising to me at first but not so much anymore after being there .
Some serious gamblers are going there on the regular
Some serious gamblers are going there on the regular
Re: Supreme Court Ruling on Sports Betting
Sports betting in NJ: So far, the mob offers better odds
By Jeff Edelstein
August 7, 2018
Apparently, New Jersey is home to the fish.
And no, I'm not talking the brook trout, the official state fish. I'm referring to the slang term referring to common sports fans who lose money in sports gambling, mostly because they have no idea what they're doing.
With that in mind, let's now welcome the first legal online sports betting app to New Jersey, offered by daily sports behemoth DraftKings through the license of Resorts Atlantic City.
The app soft-launched last week (I was an early invitee, thank you very much) and went live to the public Monday. For sports bettors, this was huge. Finally, the ability to bet from the comforts of our homes, and not have to schlep out to the Meadowlands or Monmouth Park like we've been doing for … well, for weeks, but still. It was nice to be able to do it from home.
And the app is great. So many betting options, including in-game betting and the ability to "cash out" of a bet mid-game. Fantastic stuff.
Too bad the odds are so terrible. The mob gives you better odds, and I'm not joking. For real: Your friendly neighborhood bookie - or your not-so-friendly neighborhood bookie, who for all you know might be part of some vast, illegal syndicate - is almost certainly offering better odds than the legal games here in New Jersey.
Why is this?
Well, there's two reasons, if I had to guess. Reason #2 I'll save for the end, but reason #1? Because of all the fish, all of us gamblers who have been itching to play legally and above-board, and not go to the local bookie, not go offshore.
In my (ahem) experience, the Vegas odds are the gold standard. As Vegas goes, so goes everyone else. Local bookies simply pluck what the Vegas odds are and roll with them. So in essence, you can expect the same odds, more or less, from the big Vegas sportsbooks as you can from Jimmy the Snake who operates out of Butchie's Barber Shop, just ask for Karen and she'll give you Louie's phone number and he'll connect you with Jimmy, he's good people.
But the DraftKings odds? Um … not good. Here's an example from Tuesday's baseball action.
The Tampa Bay Rays play the Baltimore Orioles, and the Rays - in Vegas, at the time of this writing, about 7:30 a.m. - are -165 favorites, the Orioles are +155 underdogs. What does this mean? It means you'd have to bet $165 on the Rays to win $100, and you'd bet $100 on the Orioles to win $155. Understand? Good.
Welp, to bet that legally in New Jersey via the Draftkings app, you would have to wager $175 on the Rays to win that same $100, and your $100 bet on the Orioles would only net you $148.
"But we're only talking about $10 or so," you might say, which is exactly what the sportsbook is hoping you'd say, because that's how they will make their money, $10 (or so) at a time.
Let's break it down … in the Vegas model, if one person bets the Rays and the other the Orioles, the house makes no money. They took in $265 in action ($165 on the Rays, $100 on the Orioles), and are paying out $265 to the bettor who bet the Rays. If the Orioles win, the house took in the same $265, but is only paying out $255. So they make $10.
But in New Jersey ... if the Rays win, the house again breaks even. They took in $275 in bets, and pay out the same $275 (and you had to risk an additional $10). But if the Orioles win? They took in $275, but are only paying out $248, net profit of $27.
Long story short: The odds currently suck in New Jersey. FanDuel, the other major daily fantasy sports player, is behind the sportsbook at the Meadowlands, and they've been plagued with the same issues. The odds there went from "should be a crime" to "just pretty lousy" in the few weeks they've been open for business. (I should note that the week 1 NFL lines seem to be in line with tradition, at both the Meadowlands and the DraftKings app. The spreads are the same as Vegas, and the vig - what a gambler pays to play - is also the same. So that's good. Maybe they realize the average fish is well-versed enough in traditional NFL action to not futz around with it.)
So that's reason #1.
So what's the second reason it's possible the odds are so cruddy?
Because New Jersey wants their taste, much like Butchie the Barber gets a little sumpin-sumpin from Jimmy the Snake. Except New Jersey doesn't just want to dip its beak into the profits; it wants to stick its whole head in there and tear it up.
Here's a didja know: Nevada taxes sportsbooks 6.75 percent. New Jersey taxes brick and mortar sports books 8.5 percent, and taxes online sportsbooks 13 percent(!), once again proving the biggest racket going is the New Jersey state legislature.
In that sense, we're all fish. Pucker up, suckers.
http://www.trentonian.com/opinion/20180 ... ein-column
By Jeff Edelstein
August 7, 2018
Apparently, New Jersey is home to the fish.
And no, I'm not talking the brook trout, the official state fish. I'm referring to the slang term referring to common sports fans who lose money in sports gambling, mostly because they have no idea what they're doing.
With that in mind, let's now welcome the first legal online sports betting app to New Jersey, offered by daily sports behemoth DraftKings through the license of Resorts Atlantic City.
The app soft-launched last week (I was an early invitee, thank you very much) and went live to the public Monday. For sports bettors, this was huge. Finally, the ability to bet from the comforts of our homes, and not have to schlep out to the Meadowlands or Monmouth Park like we've been doing for … well, for weeks, but still. It was nice to be able to do it from home.
And the app is great. So many betting options, including in-game betting and the ability to "cash out" of a bet mid-game. Fantastic stuff.
Too bad the odds are so terrible. The mob gives you better odds, and I'm not joking. For real: Your friendly neighborhood bookie - or your not-so-friendly neighborhood bookie, who for all you know might be part of some vast, illegal syndicate - is almost certainly offering better odds than the legal games here in New Jersey.
Why is this?
Well, there's two reasons, if I had to guess. Reason #2 I'll save for the end, but reason #1? Because of all the fish, all of us gamblers who have been itching to play legally and above-board, and not go to the local bookie, not go offshore.
In my (ahem) experience, the Vegas odds are the gold standard. As Vegas goes, so goes everyone else. Local bookies simply pluck what the Vegas odds are and roll with them. So in essence, you can expect the same odds, more or less, from the big Vegas sportsbooks as you can from Jimmy the Snake who operates out of Butchie's Barber Shop, just ask for Karen and she'll give you Louie's phone number and he'll connect you with Jimmy, he's good people.
But the DraftKings odds? Um … not good. Here's an example from Tuesday's baseball action.
The Tampa Bay Rays play the Baltimore Orioles, and the Rays - in Vegas, at the time of this writing, about 7:30 a.m. - are -165 favorites, the Orioles are +155 underdogs. What does this mean? It means you'd have to bet $165 on the Rays to win $100, and you'd bet $100 on the Orioles to win $155. Understand? Good.
Welp, to bet that legally in New Jersey via the Draftkings app, you would have to wager $175 on the Rays to win that same $100, and your $100 bet on the Orioles would only net you $148.
"But we're only talking about $10 or so," you might say, which is exactly what the sportsbook is hoping you'd say, because that's how they will make their money, $10 (or so) at a time.
Let's break it down … in the Vegas model, if one person bets the Rays and the other the Orioles, the house makes no money. They took in $265 in action ($165 on the Rays, $100 on the Orioles), and are paying out $265 to the bettor who bet the Rays. If the Orioles win, the house took in the same $265, but is only paying out $255. So they make $10.
But in New Jersey ... if the Rays win, the house again breaks even. They took in $275 in bets, and pay out the same $275 (and you had to risk an additional $10). But if the Orioles win? They took in $275, but are only paying out $248, net profit of $27.
Long story short: The odds currently suck in New Jersey. FanDuel, the other major daily fantasy sports player, is behind the sportsbook at the Meadowlands, and they've been plagued with the same issues. The odds there went from "should be a crime" to "just pretty lousy" in the few weeks they've been open for business. (I should note that the week 1 NFL lines seem to be in line with tradition, at both the Meadowlands and the DraftKings app. The spreads are the same as Vegas, and the vig - what a gambler pays to play - is also the same. So that's good. Maybe they realize the average fish is well-versed enough in traditional NFL action to not futz around with it.)
So that's reason #1.
So what's the second reason it's possible the odds are so cruddy?
Because New Jersey wants their taste, much like Butchie the Barber gets a little sumpin-sumpin from Jimmy the Snake. Except New Jersey doesn't just want to dip its beak into the profits; it wants to stick its whole head in there and tear it up.
Here's a didja know: Nevada taxes sportsbooks 6.75 percent. New Jersey taxes brick and mortar sports books 8.5 percent, and taxes online sportsbooks 13 percent(!), once again proving the biggest racket going is the New Jersey state legislature.
In that sense, we're all fish. Pucker up, suckers.
http://www.trentonian.com/opinion/20180 ... ein-column
All roads lead to New York.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
Mt. Airy Casino aims to be first out of the gate in Pa. online gaming
Mount Airy Casino Resort in the Poconos announced Friday it will team up with The Stars Group, a Canadian gaming company with an online presence in New Jersey, to offer a full slate of internet wagering options, including sports betting and poker.
Read more: http://www2.philly.com/philly/business/ ... 80810.html
Mount Airy Casino Resort in the Poconos announced Friday it will team up with The Stars Group, a Canadian gaming company with an online presence in New Jersey, to offer a full slate of internet wagering options, including sports betting and poker.
Read more: http://www2.philly.com/philly/business/ ... 80810.html
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
Re: Supreme Court Ruling on Sports Betting
The legal book does not pay the taxes for winnings under 10 grand. They report the payment, and your name, as a business expense on their taxes. Thus, it is an easy cross reference to tell whether you paid your taxes. Same principle as being an independent contractor. Your customer doesn't take out taxes, but reports to the government the payments they made to you for their own tax benefit.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
New Jersey takes in $40.6 million in sports bets in July
https://www.thehour.com/news/article/Ne ... 155680.php
https://www.thehour.com/news/article/Ne ... 155680.php
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.
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willychichi
- Full Patched
- Posts: 4291
- Joined: Tue Dec 02, 2014 1:54 pm
Re: Supreme Court Ruling on Sports Betting
Alliance Of American Football will have enhanced live in-game betting
The future of gambling has found its home in an unlikely place: a professional football league that's five months away from playing its first game. The Alliance Of American Football has an in-house tech team that has built a gambling product that not only will allow the gambler to watch a game on an app while betting on it simultaneously on the same screen, it will also allow the league's exclusive gaming partner to better price in-game odds by building a data set that correlates the likelihood of a certain bet winning. When Charlie Ebersol co-founded the league, he always had the idea of building a separate tech business alongside the league in his mind.
Read more: http://www.espn.com/chalk/story/_/id/24 ... me-betting
The future of gambling has found its home in an unlikely place: a professional football league that's five months away from playing its first game. The Alliance Of American Football has an in-house tech team that has built a gambling product that not only will allow the gambler to watch a game on an app while betting on it simultaneously on the same screen, it will also allow the league's exclusive gaming partner to better price in-game odds by building a data set that correlates the likelihood of a certain bet winning. When Charlie Ebersol co-founded the league, he always had the idea of building a separate tech business alongside the league in his mind.
Read more: http://www.espn.com/chalk/story/_/id/24 ... me-betting
Obama's a pimp he coulda never outfought Trump, but I didn't know it till this day that it was Putin all along.