Why don't Indian Casinos Have sports books..?

[beefcake]

Maybe this question has been asked here before, but I'm not sure on the whole legal issues with the states or the Feds, but aren't Indian reservations considered sovereign countries in some areas? I mean they already are doing great business with the Poker,slots,blackjack..etc..it would seem to me to be a no brainier to have a sports book. Can you imagine if Foxwoods or Mohegan Sun had a SB? Every betting Joe in the northeast would be there every weekend! Please someone tell me why?
I know one reason is that the social structure is so broken down on some reservations alcoholism and crime that creating a bunch of degenerate locals would make it even worse. This is one downside I can see. Also the unemployment rate is sky high but don't these casinos create mega bucks to aid in the improvement of these social issues?

[djefferis]

Yes, they are sovreign; a lot of reasons and numero uno is MONEY.

As easy as it sounds, running a sportsbook is NOT simple. Very easy to lose your ass in a few weeks, espc with land based casinos.

You need a quality linesman and staff, just copying and pasting pinnacle lines would get you crushed. You need the ability to withstand large losses and to snuss out the sharps and their beards.

Also, keep in mind this isn't post up offshore, you don't have the option of freerolling your operation at the customers expense and do have to maintain stringent standards and immaculate records for tax purposes. All of this cost, and sportsbooks take up a lot of valuable real estate.

Hell, 50 percent of vegas hotels don't have sportsbooks and 25 percent more would be happy to close theirs if they could, but keep them to remain competitive with neighboring properties.

[BrianLaverty]

"Sportsbooks; that's not on the menu in Foxwoods. The tribes, like all land-based casinos prefer locks rather than a straight-up gamble!"

[Mikail]

It wouldn't be a sound business model. They already have an ocean of cash with their casinos. No need to risk with a sportsbook.

[Emily_Haines]

In the contract with the state there are certain things they are not allowed to do like take bets on sports, start up a horse track, online gaming, etc. Most people think that because they are a sovereign land they can do anything they want and that is simply not so.

[big joe 1212]

the states wont allow

[CollegePro]

the states wont allow

this

[Justin7]

States have no say. It is a federal allow that prohibits sports betting, except in grand-fathered states.

States can permit casinos. They have no authority to do so with sports betting.

[5mike5]

states DO have a say actually, but the whole on "federal" land that gov. grants indian tribes plays a role for feds to have a say i think....probably complicated laws to stop it

[djefferis]

States have no say. It is a federal allow that prohibits sports betting, except in grand-fathered states.

States can permit casinos. They have no authority to do so with sports betting.

Absolutely correct in that states have no say in this..tribal nations are sovereign nations, the US deals directly with other nations and does not allow it's individual states to maintain relations with another nation.

As far as the "grandfathering" which applies to Nevada, Oregon and one other Northeastern state if memory serves correctly (Vermont?) of sports gambling past the ban in the mid-late 70's, not sure if that the exact reason..but could be

Want proof states have absolutely ZERO say in tribal matters, check out all the suits between New York State and the tribes selling cheap smokes and making payday loans. NY state is losing tons of revenue from tribes selling tax free cigarettes and can't do squat about it.

[TheGuesser]

I don't see why the Indian casinos can't contract with a Sports betting firm, like Leroy's, Lucky's, or a British firm like Ladbrokes, and have them run the Sportbooks, much like Deleware does. It would take the risk out, and much like Vegas hotels, they would drive traffic in. There is a large hunger for Sportsbetting in the Northeast, as seen by Delaware doing well with it, even with their extremely limited menu. Bring a full service Sportsbook to Foxwood's and/or Mohegan Sun with all the bells and whistles of a top Vegas sportsbook would be a lock money maker for the Indian tribes.

[LordVodka]

What I don't understand is why don't sportsbooks operate more like horse betting. Base the payouts after all the money has come in. Wouldn't this insure that money is being made?

[in play, run(s)]

Are you serious? Yes, they would make more money this way, but if they did this, you as a customer wouldn't get fixed odds anymore, which is pretty much unacceptable. You blindly bet on your team and when the event has started, you get to know the odds. Great...

http://en.wikipedia.org/wiki/Parimutuel_betting

[beefcake]

Thanks for the replies guys. The contract idea makes a lot of sense.

[DustyDiamond]

Have Foxwoods or M. Sun ever thought about opening a sportsbook?

[Maniac]

Have Foxwoods or M. Sun ever thought about opening a sportsbook?

Interesting article this week regarding Foxwoods making a deal with Sportingbet for them to provide "free-to-play" poker and casino games.

Doesnt necessarily mean much now, but according to the artice it looks like they are positioning themselves to take advantage of any possible changes in legislation in future:

http://www.casinos-online.co.uk/news/20111007/sportingbet-in-poker-jv-with-us-land-casino-company/

07th October, 2011 :: 07:44:39

Source: Casinos Online

Foxwoods & Sportingbet decline to comment on strong rumours of an intrastate deal in Connecticut

The respected online poker information website PokerUpdate is reporting a potentially exciting new US poker joint venture between veteran European internet gambling group Sportingbet plc & Foxwoods Resort Casino, a land gambling enterprise owned by the Mashantucket Pequot tribe.

The site references its report to the publication EGR, & claims that Sportingbet is expected shortly to announce a joint venture with Foxwoods to provide free-to-play intrastate online poker & casino games in Connecticut.

It is understood that any agreement between the parties will be conditional on the approval of both state regulators & other tribal gaming groups.

If the report is true, the deal is the latest in a series of free-to-play moves involving major US gambling companies this week (see previous reports), as speculation mounts that American firms are positioning themselves for the future legalisation of at least online poker in the United States.

Sportingbet is in the happy position of having cleared its legal slate with the US Department of Justice, with which it settled for over $30 million earlier this year in respect of online gambling activities in the United States pre-UIGEA.

PokerUpdate says that according to sources close to the deal, Sportingbet bested GTech G2 & Betsson in pitching for the partnership, on which both Foxwoods & Sportingbet have declined to comment.

http://pokerupdate.com/news/law-and-legislation/sportingbet-to-announce-foxwoods-venture/

[mrmarket]

The sportsbook is mostly a sideshow at the casino to keep whales on the property. Tribal casinos usually have little competition within the area so it doesn't make sense to run something with little hold and potential for losses from advantage players (in before but they run blackjack comments).