Supreme Court Approves State Sports Betting

[pokernight1991]

The con man opposed the legalization. His administration filed a brief in support of the status quo.

[JIBBBY]

Let's see how this effects the market over time???.. I'm curious and i don't have all the answers... Can only go off past trends with legalization of these types of things.. History does have a tendency of repeating itself...

[Ocho Cervezas]

So will it now be possible to deposit $ with books in Vegas and then make bets out of state over the internet while not having to jump through all the funding hoops such as Bitcoin?

[A Quant]

When they see all the taxes being collected they'll change their mind.

Suppose you're betting offshore using bitcoin and you're going from your wallet to your bank account, you think that activity is not being noticed?

You think 20K from bitcoin wallet to bank will go unnoticed by IRS, or state tax agencies?

[The Kraken]

Let's see how this effects the market over time???.. I'm curious and i don't have all the answers... Can only go off past trends with legalization of these types of things.. History does have a tendency of repeating itself...

It won't affect the market much at all, especially this early. Basically the states simply have the right to say no at this time. A few will say yes but most will say no

[tblues2005]

So will it now be possible to deposit $ with books in Vegas and then make bets out of state over the internet while not having to jump through all the funding hoops such as Bitcoin?

I think it's possible and it depends on where you live at.

[bjb7223]

Suppose you're betting offshore using bitcoin and you're going from your wallet to your bank account, you think that activity is not being noticed?

You think 20K from bitcoin wallet to bank will go unnoticed by IRS, or state tax agencies?

Are they the collecting state taxes on this?

[Biff41]

i'm still curious how it will all work out something tells me it won't be the same as the vegas books, when florida got poker the owners of the card rooms are guaranteed to make money with the rake which they give some to the state, how will it work out with the legalized sports betting, will the lines be higher like -115 instead of -110 how are they going to guarantee money for the local states

Books that dont have something reasonably close to the Vegas line won't keep much business, the original Philadelphia Plan with a 36% tax would be a total waste of time. Customers might as well hand their wallets to the doorman.

[BriGuy]

So will it now be possible to deposit $ with books in Vegas and then make bets out of state over the internet while not having to jump through all the funding hoops such as Bitcoin?

No.

[Thor4140]

Pa. Is ahead of the curve. They already have their stuff in order. To start u have to get a ten million dollar license fee. So basically this is how states will kill this bill if they don’t want it.

[cincinnatikid513]

im reading mlb nhl nba want an integrity fee where they get a small pct of all bets , i say fuk them all they dont deserve a penny

[TheLock]

No doubt in my mind that the Indian books in South Florida will be posting .20 lines on bases when Florida legalizes sports betting

[cincinnatikid513]

No doubt in my mind that the Indian books in South Florida will be posting .20 lines on bases when Florida legalizes sports betting

i live in florida we will near last when it comes sports betting they couldnt even roll out medical marijuana u think state govt gonna pass a bill on sports betting be 20 years

[darrell74]

If I had to handicap who and what order:
Looks like New Jersey will be 1st(as soon as 2 weeks?)
Delaware will be second by the end of June
West Virginia 3rd. Could be sooner or later, they already approved in March
Illinois 4th but a 12.5% tax
Pennsylvania probably 5th but they're gonna ask for a 10 million dollar license fee
Indiana will be 6th. Caesars Palace bought Hoosier Park(I see the motivation there) , at this time next year.

Others that will:
Montana-allow people with each other right now
Michigan has about 8 bills that need to be legislated, but they will get their eventually
Louisiana Kentucky has legislation to allow it at the horse tracks
Oregon will do it upon next legislation for sure. They stopped their momentum when the NCAA threatened playoff games in 2007
Haven't heard the latest out of Texas, but hard to believe they would let this one get away.
Florida's another one. Gulfstream Park baby!!!!
New Mexico will probably give it to the Reservations and racetracks
Minnesota has a long shot, legislation adjourn next week

[darrell74]

im reading mlb nhl nba want an integrity fee where they get a small pct of all bets , i say fuk them all they dont deserve a penny

100% agree

[Optional]

im reading mlb nhl nba want an integrity fee where they get a small pct of all bets , i say fuk them all they dont deserve a penny

In Australia the way it works is that the fees bookmakers pay to the individual sporting bodies are supposed to go to grass roots development of the sport. Not just to the bottom line of the top level owners.

[reppin_the_847]

If I had to handicap who and what order:
Looks like New Jersey will be 1st(as soon as 2 weeks?)
Delaware will be second by the end of June
West Virginia 3rd. Could be sooner or later, they already approved in March
Illinois 4th but a 12.5% tax
Pennsylvania probably 5th but they're gonna ask for a 10 million dollar license fee
Indiana will be 6th. Caesars Palace bought Hoosier Park(I see the motivation there) , at this time next year.

Others that will:
Montana-allow people with each other right now
Michigan has about 8 bills that need to be legislated, but they will get their eventually
Louisiana Kentucky has legislation to allow it at the horse tracks
Oregon will do it upon next legislation for sure. They stopped their momentum when the NCAA threatened playoff games in 2007
Haven't heard the latest out of Texas, but hard to believe they would let this one get away.
Florida's another one. Gulfstream Park baby!!!!
New Mexico will probably give it to the Reservations and racetracks
Minnesota has a long shot, legislation adjourn next week

I live in Michigan (used to live in Illinois). I think Detroit / Michigan will beat Illinois to the punch. There's an MGM in town already. They can get access to the necessary software right away and the infrastructure should be very easy to configure. Legally it seems the politicians & business moguls out here are hungry to beat the other Midwestern states at this game too. As powerful as Chicago is, it always has a ton of red tape to cut through. Michigan is likely looking at a 10% tax.

[floridagolfer]

In Australia the way it works is that the fees bookmakers pay to the individual sporting bodies are supposed to go to grass roots development of the sport. Not just to the bottom line of the top level owners.

This might be a way that the impact on Vegas is actually very small. All the states get stupid and add a fee; the bettors say, 'Thanks but no thanks' and don't play along. It's a bit early to see how all this works out. I agree with the poster earlier about Florida. When you have all that Disney money promoting no gambling, it'll be a long time before betting on sports in Florida actually happens -- probably not in my lifetime.

[jjgold]

This might be a way that the impact on Vegas is actually very small. All the states get stupid and add a fee; the bettors say, 'Thanks but no thanks' and don't play along. It's a bit early to see how all this works out. I agree with the poster earlier about Florida. When you have all that Disney money promoting no gambling, it'll be a long time before betting on sports in Florida actually happens -- probably not in my lifetime.

Yeh after a day now this we see going to be a mess

Will not be pure sports betting

[DOM_Toretto]

I live in Michigan (used to live in Illinois). I think Detroit / Michigan will beat Illinois to the punch. There's an MGM in town already. They can get access to the necessary software right away and the infrastructure should be very easy to configure. Legally it seems the politicians & business moguls out here are hungry to beat the other Midwestern states at this game too. As powerful as Chicago is, it always has a ton of red tape to cut through. Michigan is likely looking at a 10% tax.

Agree MI will go fast. Current proposed bill would allow anyone with casino license to offer sports bets. So big 3 in Detroit + several Indian casinos probably.

When you say 10% tax, what exactly do you mean?

[A4K]

Any fees or taxes will most likely come from the operators profits and not the players. Unless they are really stupid and strangle this golden goose before it lays an egg.

[alling]

No doubt in my mind that the Indian books in South Florida will be posting .20 lines on bases when Florida legalizes sports betting

Odds are reasonable in Nevada. Odds will be reasonable in other states as well.

[alling]

Any fees or taxes will most likely come from the operators profits and not the players. Unless they are really stupid and strangle this golden goose before it lays an egg.

All the other states have to do is follow Nevadas model. Easy peasy.

[A4K]

All the other states have to do is follow Nevadas model. Easy peasy.

I agree but will they be bright enough to do that?

[ikid2groove415]

Players benefit when more books are OPEN FELLAS

[jjgold]

I saw a pole and. 30 states are against it


There is a misconception that it’s a massive money maker but it’s not there’s not much profit at all

[A4K]

Players benefit when more books are OPEN FELLAS

Not if the states make it a monopoly

[alling]

I agree but will they be bright enough to do that?

People follow successful business models all the time. No reason to think this will be any different. We will know very soon when NJ posts NBA finals odds. IMHO they will be the same as Nevadas. Afterall. NJ was sharp enough to win their lawsuit. Other states will surely follow.

[Sam Odom]

I saw a pole...

.....

[ikid2groove415]

Not if the states make it a monopoly

Cheap books like heritage/bookmaker gotta step up there game on bonus - trust me there’s going be insane bonus- fighting for customers

[A4K]

People follow successful business models all the time. No reason to think this will be any different. We will know very soon when NJ posts NBA finals odds. IMHO they will be the same as Nevadas. Afterall. NJ was sharp enough to win their lawsuit. Other states will surely follow.

I agree. I think NJ can get their sh!t together because they led the fight and are prepared. I worry about smaller states which only have a legislation session every 2 years.

[A4K]

Cheap books like heritage/bookmaker gotta step up there game on bonus - trust me there’s going be insane bonus- fighting for customers

Solid point. I thought you meant more books within the states would help players in the states with new books.

[darrell74]

I live in Michigan (used to live in Illinois). I think Detroit / Michigan will beat Illinois to the punch. There's an MGM in town already. They can get access to the necessary software right away and the infrastructure should be very easy to configure. Legally it seems the politicians & business moguls out here are hungry to beat the other Midwestern states at this game too. As powerful as Chicago is, it always has a ton of red tape to cut through. Michigan is likely looking at a 10% tax.

Michigan will get it, Illinois will be faster is what I think.
Based on what you said, I could see Chicago not getting it. But I believe Illinois 1975 riverboat gambling act will get the racetracks legal(Hawthorne)

I think Michigan will be top 10 fastest to make it legal
I could see Michigan making it real easy too. Easier than Vegas-they're gonna legalize online gambling too

[darrell74]

.....

[TheLock]

I agree. I think NJ can get their sh!t together because they led the fight and are prepared. I worry about smaller states which only have a legislation session every 2 years.

Word.

Florida’s next legislative session is 2019.

I feel like it’s highly unlikely they move forward with sports betting in the first session after the SCOTUS decision.