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Supreme Court Rules Sports Betting Legal (1 Viewer)
- Thread starter Smack Tripper
- Start date
Leroy Hoard
Footballguy
Punxsutawney Phil
Footballguy
Since the Florida casinos are owned by native Indian Tribes they would stand a good chance of making the cut if Florida passed the law and the Supreme Court ruled in favor of the opening gaming up to areas outside of Nevada. The Miccosukee Tribe of Indians of Florida owns and operates one casino, the Miccosukee Resort & Gaming in Miami. The Seminole Tribe of Florida owns and operates seven casinos located in Clewiston, Coconut Creek, Hollywood, Immokalee, Okeechobee, and Tampa.
At this point joining Florida in as likely states to introduce sports betting bill are: Massachusetts; Rhode Island; New York; New Jersey; West Virginia; South Carolina; Georgia; Illinois; Michigan; Iowa; Minnesota; Louisiana; Mississippi; Oklahoma and California. Indiana and Kentucky already have introduced bills.
You can also add Pennsylvania and Connecticut to the list of states that have already passed bills
According to the Associated Press – The U.S. Supreme Court this year will decide a case brought by New Jersey that seeks to overturn a ban on sports betting in all but four states: Delaware, Montana, Nevada, and Oregon. A favorable ruling, in that case, could open the floodgates in terms of states adopting a new form of gambling.
“Assuming a Supreme Court decision or action by Congress permits it, we could see the largest simultaneous expansion of regulated gambling in U.S. history with sports betting in 2018,” said Chris Grove, the managing director for Eilers & Krejcik Gaming,
The court is expected by June to decide New Jersey’s case, which seeks to overturn a ban on sports betting by any state that did not meet a 1991 deadline to legalize it. States and private companies in the U.S. and abroad are already moving quickly to position themselves for a favorable ruling.
With states across the nation looking for new sources of revenue the adding or expanding gambling is seen as an attractive option for many. While not vouching for the political likelihood of any particular state adopting gambling legislation, David Schwartz, director of the Center for Gaming research at the University of Nevada Las Vegas, said the predictions are “definitely in line with the historical trend of states turning more to gambling.”
Sports betting is seen as most likely to be offered through commercial and tribal casinos, or state lotteries. Some analysts and industry observers also feel that a Supreme Court ruling legalizing sports betting nationwide would prompt a rapid expansion of internet betting, as states will move to allow it to be offered online.
This was pre-ruling, but provides more info on the states that wanted it.
At this point joining Florida in as likely states to introduce sports betting bill are: Massachusetts; Rhode Island; New York; New Jersey; West Virginia; South Carolina; Georgia; Illinois; Michigan; Iowa; Minnesota; Louisiana; Mississippi; Oklahoma and California. Indiana and Kentucky already have introduced bills.
You can also add Pennsylvania and Connecticut to the list of states that have already passed bills
According to the Associated Press – The U.S. Supreme Court this year will decide a case brought by New Jersey that seeks to overturn a ban on sports betting in all but four states: Delaware, Montana, Nevada, and Oregon. A favorable ruling, in that case, could open the floodgates in terms of states adopting a new form of gambling.
“Assuming a Supreme Court decision or action by Congress permits it, we could see the largest simultaneous expansion of regulated gambling in U.S. history with sports betting in 2018,” said Chris Grove, the managing director for Eilers & Krejcik Gaming,
The court is expected by June to decide New Jersey’s case, which seeks to overturn a ban on sports betting by any state that did not meet a 1991 deadline to legalize it. States and private companies in the U.S. and abroad are already moving quickly to position themselves for a favorable ruling.
With states across the nation looking for new sources of revenue the adding or expanding gambling is seen as an attractive option for many. While not vouching for the political likelihood of any particular state adopting gambling legislation, David Schwartz, director of the Center for Gaming research at the University of Nevada Las Vegas, said the predictions are “definitely in line with the historical trend of states turning more to gambling.”
Sports betting is seen as most likely to be offered through commercial and tribal casinos, or state lotteries. Some analysts and industry observers also feel that a Supreme Court ruling legalizing sports betting nationwide would prompt a rapid expansion of internet betting, as states will move to allow it to be offered online.
This was pre-ruling, but provides more info on the states that wanted it.
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Smack Tripper
Footballguy
Ac opens hard rock and reopens whatever is at the revel on June 28th
culdeus
Footballguy
Honestly, I think Vegas has really low profit margin on sports books. They are universally the lowest profitable area per square foot that is sure.
A lot of places now contract out the actual day to day operation to Cantor or similar type gigs and don't even take real action and instead rent the floor.
As it turns out most online books simply just steal the lines from vegas, pay nothing, then operate in a tiny office for pennies of SG&A of what Vegas does.
ArbyMelt
Footballguy
Vegas copies the lines from offshore (bookmaker, betonline). Maybe once in awhile you will see Wynn with football openers. Sometimes Vegas will open the football season win totals (South Point will for all FBS teams, and CTG used to for the power 5 but looks like BetDSI has already beat them this year).
I'm talking football here, I assume most other sports are the same.
rockaction
Footballguy
GroveDiesel
Footballguy
The future of sports betting and most gambling will be digital IMO. Brick and mortar casinos are in trouble longterm. Even now in NJ the casinos get a virtual license from the state and you can gamble through their apps and sites as long as your location data shows that you are in NJ. Soon, that will spread throughout most of the US. Nobody will bother with going to actual casinos when you can sit at home and clickclickclick away all their money.
CletiusMaximus
Footballguy
The law is the Professional and Amateur Sports Protection Act of 1992 (PASPA). It seems hyper-technical, but the law does not ban or outlaw sports gambling as such, but rather prohibits the states from enacting laws that legalize gambling. The topic headline, "Supreme Court Rules Sports Betting Legal" is technically incorrect in a lawgeek sense, but it may have that practical effect. The ruling involves the underrated, rarely cited, but extremely important "anti-commandeering" doctrine derived from the 10th amendment (“powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”) The slightly interesting twist in this case, an argument the court of appeals actually bought, is that PASPA didn't force the states to do anything. Rather, it prohibited them from passing laws legalizing sports gambling. Thankfully, that argument failed at the scotus. Credit to New Jersey for carrying the water on this battle.
Thorpe
Footballguy
You are correct, but the sportsbook makes the Vegas casino a lot of money indirectly, because it brings people into the casino that otherwise wouldn't be there. And even when a person wins a large sports wager, they can lose it all and more on their way out of the book playing table games.
Good Posting Judge
Footballguy
Arizona Ron
Footballguy
Fantasy Football will be destroyed by this. It was a run.
culdeus
Footballguy
I cared way more about fantasy when i gambled on nfl.
When teaser lines went to shot I gave up on both.
Arizona Ron
Footballguy
I think the casual players will just bet on their favorite team instead of getting owned in your leagues now.I cared way more about fantasy when i gambled on nfl.
When teaser lines went to shot I gave up on both.
Juxtatarot
Footballguy
Maybe I'm naive about this but I always thought traditional fantasy football (not DFS) was more about entertainment between friends, family and neighbors than about gambling.
mquinnjr
Footballguy
I don't think fantasy is done, but it's a hit. Leagues with friends will still be a thing for current FF players, but it could get difficult to attract new players.
Ditkaless Wonders
Footballguy
Sandra Day O'Connor narrowly beats out David Souter and then Ruth Bader Ginsburg. Kagen did not get a single vote nor did Sotowhatever.
SHIZNITTTT
Footballguy
Amazing. First Marijuana passing more and more each day, and now sports book betting legally! What a time to be alive!
Wonder how this will hurt Vegas? Going to be a big revenue boost for states
Wonder how this will hurt Vegas? Going to be a big revenue boost for states
Mr. Brownstone
Footballguy
Prop bets at live sporting events are going to be fantastic.
culdeus
Footballguy
Pipes
Footballguy
What if your favorite team sucks? I still think there is a place for fantasy football.
Brony
Footballguy
Galileo
Footballguy
LMAO @ Ohio...Late tot he party with lottery. Late to the party with casino games. No way they pass anything this year. They will wait and see how things go elsewhere, spend a bunch of money trying to convince the bible thumpers it is OK, and several years down the road, after the windfall has long passed something will be enacted. And then it will be controlled by those who already have the power and $$$.
Leroy Hoard
Footballguy
bostonfred
Footballguy
Absolutely bizarre that Connecticut is not on this list. Foxwoods and Mohegan Sun are already getting killed and the Massachusetts casinos will probably knock one of them out eventually. If Massachusetts and New York get legalized sports betting and they don't... good luck.
Cowboysfan8
Footballguy
Arizona Ron
Footballguy
Only time will tell. I think you're right that there's a place for it just will be harder to find IMO.
Good Posting Judge
Footballguy
They'll probably turn around and outsource to Cantor, William Hill, etc., the way that Vegas does.
Will Hill stock price up 10% today btw.
There's a transition in my mind.
I've been playing fantasy football since I was 15 (I'm 39 now) and I used to be pretty obsessed with it..but that's b/c of the allure of winning the prize at the end of the day. But overtime, I realized how much luck was involved, and how I would be pissed someone woke up before me to grab some guy from the free agent pool once the waivers were processed. Then the 4 nights of games per week. The NFL has actually made it more tedious to play fantasy football....and so many attribute the NFLs success to fantasy football. The only reason I still play fantasy football is b/c I don't want to be that guy who quits the league and that the draft day is a blast. Everything else, I'm just going through the motions.
In my mind, the NFL is too blind to see (or doesn't want to admit) is that the reason fantasy football is such a success is b/c most leagues offer a monetary prize for it. Overtime, fantasy players realize the time that it takes and the luck involved in a win/loss every week is nuts, so they gravitate to the next thing that they can have to achieve that monetary prize....hence the success of DFS. It provides a more instant gratification, and takes away most of the pain points of a traditional fantasy league.
Legalized Sports Gaming is the next phase. It will bring a huge amount of visibility to all sports. I'll watch any game if I have money on it. Oh, and by default, my kids are now watching the game too. The leagues need to embrace this with open arms.
Leeroy Jenkins
Footballguy
So what makes the current law unconstitutional? The court leaves room for congress to enact a new law.
Yes, and the federal ban on sports betting is still in place. The case today struck down a federal law requiring states to ban sports betting (or, more accurately, prohibiting states from legalizing it). But the federal ban -- which applies to bets made across state lines using a modem -- is still in place.
The case today said, essentially: "Hey Congress. If you want something regulated, you should regulate it yourself. Don't try to make the states do it for you."
Right now, federal regulation of sports betting is somewhat limited. (It consists of the Wire Act linked in my previous post.) If Congress wants to regulate it more extensively, it can.
culdeus
Footballguy
Smack Tripper
Footballguy
Jersey apparently pushing to have the book up for the nba finals
comfortably numb
Footballguy
So i heard on Mike Francesa mention 299:1 in NJ with regards to paying taxes.
Basically if you win 300 for every dollar you wager on a ticket you will be dealing with taxes.
I have 2 sites i uses and we settle via cash after a balance quota is reached on a certain date.
In this case, i guess it will be like horses and vegas? If the single ticket is at a ceetain amount you will be dealing with taxes at that point?
So if i have 30 tickets winning 100 each for 3k i get 3k and no tax repercussions?
But if i have a future that i laid 50 and won 1500 i will have to deal with taxes?
Is this the way it works?
Basically if you win 300 for every dollar you wager on a ticket you will be dealing with taxes.
I have 2 sites i uses and we settle via cash after a balance quota is reached on a certain date.
In this case, i guess it will be like horses and vegas? If the single ticket is at a ceetain amount you will be dealing with taxes at that point?
So if i have 30 tickets winning 100 each for 3k i get 3k and no tax repercussions?
But if i have a future that i laid 50 and won 1500 i will have to deal with taxes?
Is this the way it works?
Sheriff Bart
Footballguy
Great news. Now get to work on making cocaine legal again.
If you win $1, you're supposed to report it as income and pay taxes on it.
I think the threshold for getting a 1099 is $600.
Smack Tripper
Footballguy
Good Posting Judge
Footballguy
I've looked into this, also for a friend of course. VPN is a no-go, location has to be turned on to bet from a phone, and you have to be geo-located in a legit state. Apparently there's no real way around it.culdeus said:
culdeus
Footballguy
Good Posting Judge
Footballguy
A company called Locaid is used primarily. Dunno if they can be beaten, from what I gleaned recently, it doesn't seem that way.
Thorpe
Footballguy
If you win big enough, it is easy for the casino to bust you, and not pay.
There was a poker pro who used a VPN to make it look like he was in Canada. He won a big tournament and did not get paid, and now he is suing.
https://www.pokernews.com/news/2018/05/gordon-vayo-sues-pokerstars-30713.htm
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