Supreme Court Approves State Sports Betting

[jjgold]

How will this affect Americans that operate Books offshore? Assuming they pay their taxes, are they still violating US law?

It will never be legal offshore but impossible to stop

States are just going to think people going to play legally and forget about offshore

We all know many will still play offshore and in the states

[TheMoneyShot]

It will never be legal offshore but impossible to stop

States are just going to think people going to play legally and forget about offshore

We all know many will still play offshore and in the states

100% agree with this.

Best thing that could of ever happened. Let all the pansies play in the states.

I wouldn't set up any acct with your name in the states... you'd be on radar for life.

[Roscoe_Word]

I wonder if College Game Day analysts will now make their picks ATS.

There might be a boom of those rip-off sports betting shows (like 2 for the money). "I LOVE THIS GAME"

[USCPHILLYGUY]

Obviously Coach really does have his finger on the pulse of all this

http://www.espn.com/chalk/story/_/id/23525242/monmouth-park-plan-open-sports-betting-memorial-day-snarled-state-senate-bill

[alling]

http://www.sportsbettinginamerica.com/state-legislation

[jjgold]

it is a mess

I will play offshore

[StackinGreen]

100% agree with this.

Best thing that could of ever happened. Let all the pansies play in the states.

I wouldn't set up any acct with your name in the states... you'd be on radar for life.

This is the biggest reality check, trust me I'm a horse player, and I never signed up for an ADW precisely because if you're a joke $5-$20 dollar player, you really shouldn't be betting anyway ... and they have you tracked all the way to the bank and IRS indisputably. They take 15-25% of handle and they want me to assure them of easy tracking WHEN I do cash something large? No f'n way. The new horse withholding laws were a godsend to a ridiculous govt scheme again taking way too much and then making you declare big wins, without allowing you to truly write off losses. Some states allow NO loss writeoffs. It turns out that the optimal bets to place now for a serious player are the lowest denomination $.10-$.50 multirace wagers, tris or supers that are smartly wheeled. OR large WPS bets. Thankfully most pick 4s and 5s dont get to the CTR level.

[jjgold]

Offshore rules!!!!

[BriGuy]

I wonder if College Game Day analysts will now make their picks ATS.

They pretty much already do. They constantly say things like "I'm picking Ohio State but closer than the experts think..."

[jjgold]

I would think going to be a gambling channel with all sorts of line screens 24 hrs a day

I see CBS HQ doing it a little and live day and night , shows scores and lines on everything

[nymfan99]

Will these plays have -110 lines and does it allow for places to set up exchanges like matchbook?

[Optional]

I would think going to be a gambling channel with all sorts of line screens 24 hrs a day

I see CBS HQ doing it a little and live day and night , shows scores and lines on everything

This will be tougher to do if every state has it's own rules and odds.

[A Quant]

it is a mess
I will play offshore

[SOUP]

Ohh Cant wait to hit up the Indian Casinos in Upstate New York haha.

[jjgold]

Ohh Cant wait to hit up the Indian Casinos in Upstate New York haha.

you got a good 3 year wait

[SOUP]

Blah that sucks but I am not surprised. NY always finds a way to penetrate us.

[italianbandit]

JJ, you said this day would never come.

[phillyhata1]

you got a good 3 year wait

Lol u have a bout a 2 month tops wait, Indians will be up and running very shortly

[johnnyvegas13]

Lol u have a bout a 2 month tops wait, Indians will be up and running very shortly

Rumors online r they will be up and running by football

theee r just the hot states

but I don't see national taking more than a year after this

[StackinGreen]

No one will listen to me here but the best angle to profit on US betting is to invest (I'm already in) in the companies who will win because of a HUGE new market share.

[macb]

Indians will wait for the state to set guidelines, which might be awhile. Cuomo is in no hurry unfortunately.

[jjgold]

Nope

Sports betting has zero revenue basically it’s all casino games which makes stocks go up

No one will listen to me here but the best angle to profit on US betting is to invest (I'm already in) in the companies who will win because of a HUGE new market share.

[mrpapageorgio]

No one will listen to me here but the best angle to profit on US betting is to invest (I'm already in) in the companies who will win because of a HUGE new market share.

Or in mutual funds or ETFs that have them.

[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

Delaware will be first. I thought they would be second, but Jersey is a little slow.

[jjgold]

I will keep saying this when your state gets it.....100% you have offshore accounts

When I lived in Vegas I thought I do not need offshore anymore but of course like most others compared the places and made 75% plays offshore and missed computer betting. Apps are good to make a quick play but that is about it , too hard to scan lines and study all bet types

[darrell74]

Jersey and Delaware aboard.
West Virginia next?
Anybody hear anything from any other state.
Pennsylvania, Illinois, Louisiana , Indiana?

[matrix1022]

Be there Thursday !!!!

[jjgold]

Penn fees too high

Casinos said fuk you to the state for now

[darrell74]

Penn fees too high

Casinos said fuk you to the state for now

my guess is that the casinos and racetracks out there know that sports betting won't increase revenue enough to make it worthwhile.

Would the strategy be a brand new casino would have to bring it in and see if generates enough traffic on their casino floors?
Not from that part of the country, I wouldn't know what they're talking about

[jjgold]

If you take out football season you lose 80% of gamblers meaning sports players it’s not a game changer financially not even remotely close to costs to high

Why locals and offshore make a fortune
Basically zero costs
Tax havens

my guess is that the casinos and racetracks out there know that sports betting won't increase revenue enough to make it worthwhile.

Would the strategy be a brand new casino would have to bring it in and see if generates enough traffic on their casino floors?
Not from that part of the country, I wouldn't know what they're talking about

[tblues2005]

Jersey and Delaware aboard.
West Virginia next?
Anybody hear anything from any other state.
Pennsylvania, Illinois, Louisiana , Indiana?

Mississippi and West Virginia is next before football season starts. In Mississippi the taxes are 12 percent of profits on the sports bets there. Its sounds way better than Pennsylvania for sure.

[Biff41]

The Lottery can't be happy about this. The Lottery's payout is approximately 50%. Offshore Sportsbooks payout is approximately 95%. What will legalized Sportbetting payout be? In many places in the U.S. The Lottery has had a monopoly on gambling. I can't imagine that it would want ANY competition. If legalized sportsbetting happens in the U.S. and they allow parlay bets it's virtually the same as playing the Lottery with a better payout. I would think this would hurt the Lottery's business. Like some other posters have basically said... I'll believe it when I see it.

The lottery is simply a branch of State governments that brings in revenue. As long as sportsbetting brings in revenue I dont think there is any cohesive organization that would do anything. But people will still buy lotto tickets. Not sure of impact, maybe a temporary slowdown.

[Biff41]

my guess is that the casinos and racetracks out there know that sports betting won't increase revenue enough to make it worthwhile.

Would the strategy be a brand new casino would have to bring it in and see if generates enough traffic on their casino floors?
Not from that part of the country, I wouldn't know what they're talking about

Pennsylvania is probably going to revise it's original hi tax proposals. Bettors are using the internet and brick and mortar books with the best value and services for bettors will generate the most revenues.
Philly legislators will likely watch and learn.

[jjgold]

PA knows they screwed up

These states think this is a huge money maker and all it will do is pay about 15 state salaries

Sports Betting does not even dent revenues in Vegas many said they can care less if they even had it

That average person does not bet sports

[Optional]

PA knows they screwed up

These states think this is a huge money maker and all it will do is pay about 15 state salaries

Sports Betting does not even dent revenues in Vegas many said they can care less if they even had it

That average person does not bet sports

The people who really want to bet on sports already are.

It's going to take years to normalize the public's view of gambling in the US. And doing that is the main factor that will increase the uptake rate in a meaningful way.