Legalization Discussion

nbafan88

Well-Known Member
#2
When PASPA is overturned, the key is going to be how will the gov't roll out legalization... if it somehow allowed to be state by state, there will be big opportunity for arbitrage bettors but I don't think this will be the case


Racetracks by me aren't equipped for legalization, they need a major overhaul to come up to date....
 

Lloyd Braun

Well-Known Member
#3
When PASPA is overturned, the key is going to be how will the gov't roll out legalization... if it somehow allowed to be state by state, there will be big opportunity for arbitrage bettors but I don't think this will be the case


Racetracks by me aren't equipped for legalization, they need a major overhaul to come up to date....
Monmouth has been ready to go with legalization for a while now, what major overhaul do they need to come up? William Hill built a sports bar/book there with legalization in mind and is ready to go from all i hear
 

nbafan88

Well-Known Member
#4
Monmouth has been ready to go with legalization for a while now, what major overhaul do they need to come up? William Hill built a sports bar/book there with legalization in mind and is ready to go from all i hear
Yes I know. Still need major overhaul if they want people to actually come there and spend time watching sports. Have you seen the freehold racetrack? Then again.... they may not want that
 

nbafan88

Well-Known Member
#5
Former Major League Baseball commissioner Fay Vincent appears to be bullish on the future of legal sports betting, according to a pair of recent reports.[h=2]Former commish writes/talks sports betting[/h]Vincent, who was commissioner from 1989 through 1992, penned this short letter to the editor in the New York Times this month:
For Sale: Team With Few Fans, Sweet Stadium” (front page, July 5), about the effort to sell the Miami Marlins baseball team, doesn’t report the possibility that legal betting on all major sports is not far off. The anticipated flood of revenue to baseball team owners may explain the price being asked, $1.2 billion.
His name also popped up in a Miami Herald piece on the same topic:
Former MLB commissioner Fay Vincent told me that the only way the Marlins are worth $1.3 billion or close to that is if gambling is legalized nationally, which he believes would create a lot more revenue. He believes it’s likely to happen.
Interestingly, Vincent was the deputy commissioner when MLB banned Pete Rose in 1989 for betting on games.
[h=2]What’s Vincent’s tack on sports betting?[/h]It’s not clear exactly where Vincent’s optimism on the sports betting front comes from. He simply could be reading the tea leaves in the New Jersey sports betting case. If the state were to win its case in the US Supreme Court, that could lead to a massive expansion of wagering in a short timeframe.
Current Commissioner Rob Manfred has also said increasingly positive things about the future of sports gambling in the US.
Vincent also hails from Connecticut, a state where sports betting appears to be on a fast track.
[h=2]A ‘flood of revenue’ to MLB owners?[/h]Where the “flood of revenue” that Vincent is talking about will come from isn’t clear.
The most likely avenue for legal sports betting happening quickly is the Professional and Amateur Sports Protection Act being struck down in court and state-by-state regulation occurring, a la Nevada sports betting. That is difficult (or impossible) for leagues to monetize directly. They probably aren’t going to get a cut of any revenue that comes from new state laws.
But certainly the rollout of sports betting would lead to the ancillary of more interest and higher television ratings. That is something the leagues would benefit from.
But NBA Commissioner Adam Silver likes to make reference to his league’s “intellectual property” when it comes to sports betting. That would be difficult to leverage for direct revenue without the sort of federal framework for which Silver advocates. (Manfred appears closer to getting on board, as well.) That framework seems exceedingly unlikely in the short term.
Regardless, leagues do stand to benefit with the proliferation of sports betting, should that come to fruition.
 

Alan Tongue

Well-Known Member
#6
When PASPA is overturned, the key is going to be how will the gov't roll out legalization... if it somehow allowed to be state by state, there will be big opportunity for arbitrage bettors but I don't think this will be the case


Racetracks by me aren't equipped for legalization, they need a major overhaul to come up to date....
Doubtful. Most of the prices are automated, so if one place moves (like Pinny) other places will automatically move. It's all in the software these guys use.
 

Alan Tongue

Well-Known Member
#8
It’s also about how bookmakers are going to get taxed. I get taxed as a percentage of turnover. It’s a sliding scale, so as turnover grows so does the tax. That is how the state makes their money. How the sports make money is another turnover tax , called a “product fee”. The domestic sports charge a fee for using the data they own(team names, league, etc). It’s not high enough to create a “windfall” for owners. This is only for domestic sports, leagues like the EPL have no jurisdiction

All this makes thinner margins as prices are competitive because the market demands it. If competitive prices aren’t out there customers will just go offshore
 

KJ

Has Slept 5 Hours Total In Calendar Year 2018
#10
Seriously taxing sports wagering would be a nightmare. I'm pro tax, but no clue how they'd regulate it. Receipts?

It has to be figured out whether you like taxation or not to make this a real thing
 

Alan Tongue

Well-Known Member
#11
but what if some states have different software?
It doesn't matter, it all does the same thing.

One software might do the the average of 5 nominated bookmakers. Another will keep the price a few cents under Pinnacle or SBO. Others may use a provider like Betradar or Kambi who will do it all for them, and the send the same prices to everybody

The biggest expense of bookmakers is staff, so why pay people to price and manage markets when you can pay a computer to do most of the work for you
 

cubsker

Sort of a Big Deal
#12
does seem like at least a little momentum is building. governments, especially at the state level, need the money as they're in the process of going broke.
 

nbafan88

Well-Known Member
#13
does seem like at least a little momentum is building. governments, especially at the state level, need the money as they're in the process of going broke.
Getting the case to the Supreme Court is more than a little momentum. The fact that the SC decided to hear the case and go against a decision of the lower court says a lot. Y'all just remember that NJ led the way. :)
 
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