Supreme Court Ruling on Sports Betting
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Re: Supreme Court Ruling on Sports Betting
Only things I know about baseball are that I don't watch it and the "old timers" hate taking bets on it.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
MGM Resorts, NHL sign sports betting partnership deal
MGM CEO Jim Murren and NHL Commissioner Gary Bettman signed a deal Monday in New York City naming the Las Vegas-based company the league’s first official sports betting partner. Financial terms were not disclosed. MGM will receive access to “previously unseen enhanced NHL proprietary game data,” according to a joint statement. The deal will also enable MGM to market its properties and entertainment lineup to millions of hockey fans through the league’s media platforms and events.
Read more: https://www.reviewjournal.com/business/ ... ship-deal/
MGM CEO Jim Murren and NHL Commissioner Gary Bettman signed a deal Monday in New York City naming the Las Vegas-based company the league’s first official sports betting partner. Financial terms were not disclosed. MGM will receive access to “previously unseen enhanced NHL proprietary game data,” according to a joint statement. The deal will also enable MGM to market its properties and entertainment lineup to millions of hockey fans through the league’s media platforms and events.
Read more: https://www.reviewjournal.com/business/ ... ship-deal/
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
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
Sportsbooks lost millions on 'worst Sunday of the season'
If it’s a good day for bettors, then it’s a bad day for sportsbooks. And Sunday was a very bad day for sportsbooks. According to ESPN, NFL Week 9 Sunday may go down as a legendarily bad day for bookmakers nationwide. Establishments in Nevada alone lost between $7 million and $10 million. Industry insiders who spoke to ESPN ranked it as one of the worst Sundays they could remember, as they spent the day watching their money walk out the doors in the pockets of successful gamblers.
Read more: https://www.yahoo.com/sports/sportsbook ... 08107.html
If it’s a good day for bettors, then it’s a bad day for sportsbooks. And Sunday was a very bad day for sportsbooks. According to ESPN, NFL Week 9 Sunday may go down as a legendarily bad day for bookmakers nationwide. Establishments in Nevada alone lost between $7 million and $10 million. Industry insiders who spoke to ESPN ranked it as one of the worst Sundays they could remember, as they spent the day watching their money walk out the doors in the pockets of successful gamblers.
Read more: https://www.yahoo.com/sports/sportsbook ... 08107.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
Three early takeaways from N.J.’s explosive sports-betting launch
Just four months after launch, New Jersey's legal sports-betting industry is off to the races. Legal bookmakers took in $24 million in gross revenue in September, and the $2.6 million in taxes paid by bookmakers accounted for 11 percent of the state's monthly gaming tax revenue. The tally from October, which will include World Series wagering, is likely to grow.
Read more: http://www2.philly.com/philly/business/ ... 81105.html
Just four months after launch, New Jersey's legal sports-betting industry is off to the races. Legal bookmakers took in $24 million in gross revenue in September, and the $2.6 million in taxes paid by bookmakers accounted for 11 percent of the state's monthly gaming tax revenue. The tally from October, which will include World Series wagering, is likely to grow.
Read more: http://www2.philly.com/philly/business/ ... 81105.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
A New York Bookie Nears the End of the Line
Legalized sports gambling hasn’t put illegal operations out of business yet, but a culture change is coming.
By Joe Nocera
October 25, 2018
“I’m a pencil and paper guy,” said Eddie the bookie, and the minute I stepped into his office I could see he wasn’t kidding.
In a basement apartment dominated by four desks arranged in an L shape, the office was exactly how you’d imagine a bookie’s office would look: It would not have been out of place in “The Sting.” On every desk was a neat stack of index-card-size tickets on which he and his employees had written, in triplicate, each bettor’s wagers on Sunday’s football games. I visited Eddie on a Monday morning; he and his crew would spend the day toting up each customer’s wins or losses, and then settling up. In cash, of course.
Ever since May, when the U.S. Supreme Court ruled that any state — not just Nevada — could permit sports betting, I’d been searching for an old-school bookie to see how the coming of legalized sports betting was likely to affect the illegal wagering business. It took a while, but through a friend of a friend, I found Eddie, who, at the age of 70 and nearing the end of his career, was happy to talk so long as I protected his identity. To blow the punchline: Illegal bookmaking isn’t exactly analogous to horse-and-buggy making in the auto age. But it’s close.
Before going further, there are some things Eddie would like you to know about him. A Vietnam veteran, Eddie has spent all but the first seven or eight years of his working life as a bookie. He told me that while he knows his share of “connected guys,” he has never had any mob affiliation. He is careful to establish limits for his clients based on how much he thinks they can afford to lose — partly for their sake and partly for his. (“If you win $10,000 from a bartender, that’s your fault.”) If a customer refuses to pay up after losing a bet, he immediately becomes an ex-customer, but Eddie doesn’t go after him for the money. “You start threatening people, that’s how you get caught,” he says.
Indeed, Eddie has not only never been arrested, he’s had only one close call, a long time ago, when one of his employees was hanging out with some men from a different bookmaking operation that wound up getting busted. He has about 100 regular customers, and he doesn’t want more; keeping his operation small prevents both the mob and the cops from caring about his little business. He usually makes between $150,000 and $200,000 annually. There have been years when he made more, but those days are long gone.
When I asked him if he ever thought about the fact that he made his living doing something that was illegal, he paused for a moment. “I never got married,” he replied, “but I was engaged when I was 40 and wanted to have children. I thought at that point maybe it was time to do something else.” But then he and his fiancée broke up, and there went any thought of getting out of bookmaking. “This was my business and that was it,” he said. “I don’t think I’d be any good at doing anything else.” Besides, he told me, he loves what he does.
It’s easy to pinpoint when the business began to change. Along with pornography, sports betting was one of the first industries to be transformed by the internet. Offshore gaming companies set up sportsbooks that allowed gamblers to bet online, and they were immediately popular. But the U.S. government put some of those companies out of business, while others blew up of their own accord. In 2006 Congress passed a law that essentially made it illegal for offshore companies to accept sports bets from Americans.
Not that that has stopped them. Today, according to Eddie, offshore sportsbooks 3 primarily serve as a kind of back-office operation for bookies, who continue to retain customers even though the gamblers are interacting primarily with the offshore entity.
Eddie told me that he’s never used offshore companies, even though they would have made his life easier. This was partly because, in the early days, he feared the consequences for his customers if a company went out of business. But it was also because he enjoys interacting with his customers, and doesn’t want to give that up.
Ultimately, the offshore industry didn’t cut into his business, he told me, and he doesn’t expect legalized sports gambling to either. Some of his customers have been with him for decades; they’re not going to abandon him just because sports betting is legal in New Jersey and is likely to be legalized in New York in 2019.
Besides, when you make a legal bet, there are tax consequences; indeed, in New Jersey, any gambler who wins more than $5,000 will discover that 24 percent of the money has been withheld for taxes. One of the great advantages — if you can call it that — of illegal gambling is that nothing ever got reported to the Internal Revenue Service.
Eddie believes that most of the people using the various services offered for legal sports betting — there are eight or so apps now for bettors, and at least as many New Jersey venues where people can place bets — are either new gamblers or people who bet so irregularly that finding a bookie is difficult.
I’d add a third category: younger gamblers who don’t have a personal relationship with their bookie, and are nervous about doing something illegal. Whatever the clientele, New Jersey is off to a roaring start; according to Legal Sports Report, an industry newsletter, New Jersey gamblers spent $184 million on legal sports bets in September. With football season well underway that number will certainly rise in the coming months.
It’s easy enough to see why Eddie is unworried about the arrival of legalized sports betting; as with any business, when you have a reputation for providing good customers service, your customers will stick with you. But he and his ilk are the past, not the future.
Younger gamblers fully expect to be able to use apps, or to walk into a casino or other sportsbook operation and place a bet in full view of the world. Convenience is what people now expect from modern life, and that’s what legalized sports betting provides, even if it does mean having to pay taxes.
“I am getting a little tired of the business,” Eddie told me before I left. “I’m now doing it for my customers. I feel like I owe them a little bit.” Soon enough, he’ll retire, and when he does, he won’t be turning his sportsbook over to someone else; he’ll shut it down. So will his peers. The illegal bookmaking profession isn’t dead yet. But it will be soon enough.
https://www.google.com/amp/s/www.bloomb ... f-the-line
Legalized sports gambling hasn’t put illegal operations out of business yet, but a culture change is coming.
By Joe Nocera
October 25, 2018
“I’m a pencil and paper guy,” said Eddie the bookie, and the minute I stepped into his office I could see he wasn’t kidding.
In a basement apartment dominated by four desks arranged in an L shape, the office was exactly how you’d imagine a bookie’s office would look: It would not have been out of place in “The Sting.” On every desk was a neat stack of index-card-size tickets on which he and his employees had written, in triplicate, each bettor’s wagers on Sunday’s football games. I visited Eddie on a Monday morning; he and his crew would spend the day toting up each customer’s wins or losses, and then settling up. In cash, of course.
Ever since May, when the U.S. Supreme Court ruled that any state — not just Nevada — could permit sports betting, I’d been searching for an old-school bookie to see how the coming of legalized sports betting was likely to affect the illegal wagering business. It took a while, but through a friend of a friend, I found Eddie, who, at the age of 70 and nearing the end of his career, was happy to talk so long as I protected his identity. To blow the punchline: Illegal bookmaking isn’t exactly analogous to horse-and-buggy making in the auto age. But it’s close.
Before going further, there are some things Eddie would like you to know about him. A Vietnam veteran, Eddie has spent all but the first seven or eight years of his working life as a bookie. He told me that while he knows his share of “connected guys,” he has never had any mob affiliation. He is careful to establish limits for his clients based on how much he thinks they can afford to lose — partly for their sake and partly for his. (“If you win $10,000 from a bartender, that’s your fault.”) If a customer refuses to pay up after losing a bet, he immediately becomes an ex-customer, but Eddie doesn’t go after him for the money. “You start threatening people, that’s how you get caught,” he says.
Indeed, Eddie has not only never been arrested, he’s had only one close call, a long time ago, when one of his employees was hanging out with some men from a different bookmaking operation that wound up getting busted. He has about 100 regular customers, and he doesn’t want more; keeping his operation small prevents both the mob and the cops from caring about his little business. He usually makes between $150,000 and $200,000 annually. There have been years when he made more, but those days are long gone.
When I asked him if he ever thought about the fact that he made his living doing something that was illegal, he paused for a moment. “I never got married,” he replied, “but I was engaged when I was 40 and wanted to have children. I thought at that point maybe it was time to do something else.” But then he and his fiancée broke up, and there went any thought of getting out of bookmaking. “This was my business and that was it,” he said. “I don’t think I’d be any good at doing anything else.” Besides, he told me, he loves what he does.
It’s easy to pinpoint when the business began to change. Along with pornography, sports betting was one of the first industries to be transformed by the internet. Offshore gaming companies set up sportsbooks that allowed gamblers to bet online, and they were immediately popular. But the U.S. government put some of those companies out of business, while others blew up of their own accord. In 2006 Congress passed a law that essentially made it illegal for offshore companies to accept sports bets from Americans.
Not that that has stopped them. Today, according to Eddie, offshore sportsbooks 3 primarily serve as a kind of back-office operation for bookies, who continue to retain customers even though the gamblers are interacting primarily with the offshore entity.
Eddie told me that he’s never used offshore companies, even though they would have made his life easier. This was partly because, in the early days, he feared the consequences for his customers if a company went out of business. But it was also because he enjoys interacting with his customers, and doesn’t want to give that up.
Ultimately, the offshore industry didn’t cut into his business, he told me, and he doesn’t expect legalized sports gambling to either. Some of his customers have been with him for decades; they’re not going to abandon him just because sports betting is legal in New Jersey and is likely to be legalized in New York in 2019.
Besides, when you make a legal bet, there are tax consequences; indeed, in New Jersey, any gambler who wins more than $5,000 will discover that 24 percent of the money has been withheld for taxes. One of the great advantages — if you can call it that — of illegal gambling is that nothing ever got reported to the Internal Revenue Service.
Eddie believes that most of the people using the various services offered for legal sports betting — there are eight or so apps now for bettors, and at least as many New Jersey venues where people can place bets — are either new gamblers or people who bet so irregularly that finding a bookie is difficult.
I’d add a third category: younger gamblers who don’t have a personal relationship with their bookie, and are nervous about doing something illegal. Whatever the clientele, New Jersey is off to a roaring start; according to Legal Sports Report, an industry newsletter, New Jersey gamblers spent $184 million on legal sports bets in September. With football season well underway that number will certainly rise in the coming months.
It’s easy enough to see why Eddie is unworried about the arrival of legalized sports betting; as with any business, when you have a reputation for providing good customers service, your customers will stick with you. But he and his ilk are the past, not the future.
Younger gamblers fully expect to be able to use apps, or to walk into a casino or other sportsbook operation and place a bet in full view of the world. Convenience is what people now expect from modern life, and that’s what legalized sports betting provides, even if it does mean having to pay taxes.
“I am getting a little tired of the business,” Eddie told me before I left. “I’m now doing it for my customers. I feel like I owe them a little bit.” Soon enough, he’ll retire, and when he does, he won’t be turning his sportsbook over to someone else; he’ll shut it down. So will his peers. The illegal bookmaking profession isn’t dead yet. But it will be soon enough.
https://www.google.com/amp/s/www.bloomb ... f-the-line
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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
Hollywood Casino is first to launch legal sports betting in Pa.
The Hollywood Casino at Penn National Race Course began taking sports bets on Thursday afternoon during a "live wagering test day," the first time sports wagering has been conducted in Pennsylvania. William Hill USA, a major international bookmaker, will operate Hollywood's sportsbook during a test period to ensure the staff and equipment are in compliance with regulatory requirements.
Read more: http://www2.philly.com/philly/business/ ... 81115.html
The Hollywood Casino at Penn National Race Course began taking sports bets on Thursday afternoon during a "live wagering test day," the first time sports wagering has been conducted in Pennsylvania. William Hill USA, a major international bookmaker, will operate Hollywood's sportsbook during a test period to ensure the staff and equipment are in compliance with regulatory requirements.
Read more: http://www2.philly.com/philly/business/ ... 81115.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
Is this Granito any relation to Salvatore from Boston?
Gamblers enter legendary Vegas ‘black book’ for million-dollar scam
Two names have been added to Nevada’s “black book,” meaning the two craps players are banned from entering casinos in the state after swindling the Bellagio on the Las Vegas Strip out of more than $1 million. Anthony Grant Granito and James Russell Cooper, who became the 33rd and 34th persons to be placed on the state’s list of people barred from entering casinos, were among a group of four men who scammed the casino between August 2012 and July 2014 of an estimated $1.2 million, the Las Vegas Review-Journal reported.
Read more: https://nypost.com/2018/11/16/gamblers- ... llar-scam/
Gamblers enter legendary Vegas ‘black book’ for million-dollar scam
Two names have been added to Nevada’s “black book,” meaning the two craps players are banned from entering casinos in the state after swindling the Bellagio on the Las Vegas Strip out of more than $1 million. Anthony Grant Granito and James Russell Cooper, who became the 33rd and 34th persons to be placed on the state’s list of people barred from entering casinos, were among a group of four men who scammed the casino between August 2012 and July 2014 of an estimated $1.2 million, the Las Vegas Review-Journal reported.
Read more: https://nypost.com/2018/11/16/gamblers- ... llar-scam/
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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DPG
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Re: Supreme Court Ruling on Sports Betting
Hopefully the horse racing will get a boost at this track from the extra money. I stopped there once while I was taking a road trip and there was literally 6 people there betting on the horses.willychichi wrote: ↑Fri Nov 16, 2018 10:59 am Hollywood Casino is first to launch legal sports betting in Pa.
The Hollywood Casino at Penn National Race Course began taking sports bets on Thursday afternoon during a "live wagering test day," the first time sports wagering has been conducted in Pennsylvania. William Hill USA, a major international bookmaker, will operate Hollywood's sportsbook during a test period to ensure the staff and equipment are in compliance with regulatory requirements.
Read more: http://www2.philly.com/philly/business/ ... 81115.html
I get it....first rule of fight club.
Re: Supreme Court Ruling on Sports Betting
I've read that horse racing is a dying industry and, if that's the case, can only assume it's a generational thing.DPG wrote: ↑Sat Nov 17, 2018 7:42 amHopefully the horse racing will get a boost at this track from the extra money. I stopped there once while I was taking a road trip and there was literally 6 people there betting on the horses.willychichi wrote: ↑Fri Nov 16, 2018 10:59 am Hollywood Casino is first to launch legal sports betting in Pa.
The Hollywood Casino at Penn National Race Course began taking sports bets on Thursday afternoon during a "live wagering test day," the first time sports wagering has been conducted in Pennsylvania. William Hill USA, a major international bookmaker, will operate Hollywood's sportsbook during a test period to ensure the staff and equipment are in compliance with regulatory requirements.
Read more: http://www2.philly.com/philly/business/ ... 81115.html
All roads lead to New York.
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DPG
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Re: Supreme Court Ruling on Sports Betting
I'm 32 but grew up goin to the races so I enjoy them. Prefer dog racing more tho but your right it's been dying a slow death for a few decades.Wiseguy wrote: ↑Sat Nov 17, 2018 9:44 amI've read that horse racing is a dying industry and, if that's the case, can only assume it's a generational thing.DPG wrote: ↑Sat Nov 17, 2018 7:42 amHopefully the horse racing will get a boost at this track from the extra money. I stopped there once while I was taking a road trip and there was literally 6 people there betting on the horses.willychichi wrote: ↑Fri Nov 16, 2018 10:59 am Hollywood Casino is first to launch legal sports betting in Pa.
The Hollywood Casino at Penn National Race Course began taking sports bets on Thursday afternoon during a "live wagering test day," the first time sports wagering has been conducted in Pennsylvania. William Hill USA, a major international bookmaker, will operate Hollywood's sportsbook during a test period to ensure the staff and equipment are in compliance with regulatory requirements.
Read more: http://www2.philly.com/philly/business/ ... 81115.html
I get it....first rule of fight club.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
MLB now the third major sport in the gambling business
The league announced Tuesday it had partnered with MGM Resorts International, the third major professional sports league in the U.S. to go into business with the company. But unlike the other sports, the NBA and NHL, MLB has a more sordid history with gambling, from the Pete Rose scandal all the way back to the Black Sox nearly a century ago.
https://nypost.com/2018/11/28/mlb-now-t ... -business/
The league announced Tuesday it had partnered with MGM Resorts International, the third major professional sports league in the U.S. to go into business with the company. But unlike the other sports, the NBA and NHL, MLB has a more sordid history with gambling, from the Pete Rose scandal all the way back to the Black Sox nearly a century ago.
https://nypost.com/2018/11/28/mlb-now-t ... -business/
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
Rhode Island brings legal sports betting to New England
https://www.pressherald.com/2018/11/28/ ... w-england/
https://www.pressherald.com/2018/11/28/ ... w-england/
All roads lead to New York.
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willychichi
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Re: Supreme Court Ruling on Sports Betting
Pa.’s first sports-betting casino attracts a younger crowd
http://www2.philly.com/philly/business/ ... 81203.html
http://www2.philly.com/philly/business/ ... 81203.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.