Congress Plans To Step In & Assist In Regulating U.S. Legal Sports Betting

[Hman]

Congress pretty much made it clear in their meeting yesterday that it will eventually intervene in sports betting actoss states who will offer it legally.

The NFL whined as usual & apparently it worked along with others who spoke of the 'risks & dangers' of sports betting.

The leagues argue that some types of wagers, especially live betting, can too easily affect their athletes & sports in general.

Some who spoke are against online wagering altogether.

You know who wins in all of this if the things above & other limitations come to fruition?

I'll give you one guess.

[MadTiger]

I don't care too much about live betting, so I would willingly sacrifice it.

Spreads and totals are fine.

[jjgold]

Lol

Offshore keeps laughing

[gauchojake]

Didn't the Supreme Court basically say this was a States rights issue? So now we get the Federal government involved???

[Hman]

Oh i forgot another thing they are against is player props.

Like live betting, they fear players, especially in college, can be influenced by them


If Congress allows the leagues to dictate what is & isnt offered, it will be a complete joke.

[Hman]

Didn't the Supreme Court basically say this was a States rights issue? So now we get the Federal government involved???

The leagues have had a full court press on putting pressure.

Along with some politicians who originally backed PASPA & are butt-hurt from it being struck down.

[USCPHILLYGUY]

Hyman can I ask you a question? Are you seriously this against legalized sports betting in the states or is it more of you’d rather not see the govt get involved? Still trying to figure out your position.

[Hman]

Hyman can I ask you a question? Are you seriously this against legalized sports betting in the states or is it more of you’d rather not see the govt get involved? Still trying to figure out your position.

I've been for it, following this for a long time, and have been telling mostly non-believers on the forums for many years that it was coming.

I do believe that the same rules across all states make the most sense, but i do not believe the leagues should in any way have a say in any of it.

Hope that sums it up.

[jjgold]

This can’t be good for USA
Shops

[Hman]

Philly, to expand on my answer, i had long awaited the day the courts finally stood up & made a statement to the leagues, especially the NFL, that the courts dictate the laws & rules, not these effin leagues.

The Supreme Court did that by striking down PASPA & telling the leagues to take a hike.

But here's Congress letting them right back into the picture.

Like JJ says, if it goes the way the sports leagues want, then yes, it's a win for offshore.

[jjgold]

We will watch closely

[swordsandtequila]

Nothing but a money grab. Among other things, the NFL wants shops to use the NFL's own official stats for settling bets. Which opens the door for them to charge a fee. Fuk 'em, they get enough subsidies in the form of tax payer money for stadiums, sweetheart deals where they pay no taxes (looking at you Glazers), etc. If the feds cower down and take it out of the states hands I'll stick with Vegas and offshore.

[USCPHILLYGUY]

But what does offshore have to win? According to you & many here, they aren’t even worried about the US based players, it’s a very small market

[Optional]

This can’t be good for USA
Shops

It will be good for US bettors if a federal framework of fairness is put in place.

It will also make it much easier for cross state border competition.

Players should want the feds to organize the mess in this case.

[daneblazer]

Why can’t we let people do what they want to do

[jjgold]

It is running fine USA

Leave it alone

[mrpapageorgio]

It will be good for US bettors if a federal framework of fairness is put in place.

It will also make it much easier for cross state border competition.

Players should want the feds to organize the mess in this case.

Not when the leagues are behind the curtain lobbying the feds to put in a framework that suits them.

[Optional]

Not when the leagues are behind the curtain lobbying the feds to put in a framework that suits them.

The leagues are going to get a cut in the end somewhere. They do in other mature regulated markets. It's not the end of the world.

The advantage of a nationally competitive USA market to bettors would outweigh that 2% out of net profits.

[Craig22]

Adelson and his cronies always try to ruin everything. Too much to ask for the U.S. to just copy the UK.

[Craig22]

The leagues are going to get a cut in the end somewhere. They do in other mature regulated markets. It's not the end of the world.

The advantage of a nationally competitive USA market to bettors would outweigh that 2% out of net profits.

The leagues make enough money to self-regulate their games regardless of sports betting.

[Optional]

Adelson and his cronies always try to ruin everything. Too much to ask for the U.S. to just copy the UK.

The UK is terrible in many ways.

You don't want to copy that.

Copy Australia if anything.

But the opportunity exists to make it better than both of those.

[gauchojake]

slap a "draftkings" logo on your uni and get a 2% cut. There. Problem solved.

[Craig22]

The UK is terrible in many ways.

You don't want to copy that.

Copy Australia if anything.

Players pay no income tax. Though the excessive limiting and premium charge theft on Betfair needs to end.

[reigle9]

obv fake like everything else

the live betting and props thing make 0 sense, so is the qb making 25 mil a year going to wear an earpiece, and be told when to throw a pick for the $250 max bet? stfu

[reigle9]

Players pay no income tax. T

they sure do in the US if that's what you mean...players have signed to one team over the other because of taxes

[Hman]

obv fake like everything else

the live betting and props thing make 0 sense, so is the qb making 25 mil a year going to wear an earpiece, and be told when to throw a pick for the $250 max bet? stfu

What do you mean fake?


Fake news?

[Optional]

Players pay no income tax. Though the excessive limiting and premium charge theft on Betfair needs to end.

Doing away with personal tax on gambling winnings is key to simplifying it in the USA.

Taxing winnings on an activity designed for people to lose overall from money that has already been taxed as individual income seems impossible to legally justify to me anyway.

[reigle9]

What do you mean fake?


Fake news?

the part i explained in the next paragraph...

[reigle9]

Doing away with personal tax on gambling winnings is key to simplifying it in the USA.

Taxing winnings on an activity designed for people to lose overall from money that has already been taxed as individual income seems impossible to legally justify to me anyway.

oh lol, players = bettors

[Hman]

the part i explained in the next paragraph...

Yes it's nonsense.

Especially if they turn their heads on the same type of 'bets' going on in Fantasy sports.

But thats one of their many ridiculous theories.

Bottom line is if the leagues and others have any say in how sports betting is regulated and what is offered, it will be a joke & much will probably be missing.

And don't forget some dont even want online & mobile betting.

[mrpapageorgio]

The advantage of a nationally competitive USA market to bettors would outweigh that 2% out of net profits.

You're putting way too much faith in our congress to put forth a bill that will be anything but horse manure. I'm not talking just the "integrity fee". I'm also talking limits on props and when and how you can bet, etc.

[Hman]

This was the final comments from the Chairman in the meeting:



chairman

11:27: Just less than 90 minutes after the hearing began, the chairman offers closing remarks:

“Let me thank all five of the witnesses for providing a lot of very useful information about the consequences of the Murphy decision of the US Supreme Court.

I think the one thing that all of you agree on, is that for Congress to do nothing is the worst possible alternative.

So this means we have some work to do. And I’m looking forward to working with you to try to come up with something both short-term and something more permanent to deal with this issue. Because I’m afraid if we don’t, there are going to be some people that get hurt — and hurt very badly.”

With a bang of his gavel, Chairman Sensenbernner adjourns the hearing.

[hubie69]

Imagine the fury theyll have against the online books if thia is their response to tax generating local shops. Obline stands no chance for US bettors

[jjgold]

Lol

This is hilarious