It has only been less than a year since the Supreme Court ruled the Professional and Amateur Sports Protection Act of 1992 is unconstitutional and legal sports betting has taken over the sports world. An act that used to be taboo and only legally allowed to do in one state…no not that, but that is true…we talking about wagering real money on real games and all done legally.
It cannot be stopped; once betting on the games becomes as common as it surely will, even laws banning betting would have little impact.
Traditional Sportsbooks and Sports Betting Technology
There have are now so many way to now place your sports bet. You still have your traditional sportsbooks and sportsbook management software, where you can go up to the window and place your bet. But thanks to technology, many bettors can now bet from their phone and from sports betting kiosks placed in heavily trafficked areas.
Who, What and Where
Since that time there have been 29 states and D.C., introduce 77 bills to legalize sports betting. Ken Adams of CDC Gaming Reports has a great article detailing what the landscape is soon to look like.
The details differ greatly from state to state and each state is planning to use its sports betting windfall to fit its needs. Each state must address at least three separate issues – who, where and what to charge for the privilege of accepting wagers. The potential operators are casino companies, the lottery and companies exclusively dedicated to sports betting. The locations will depend on the type of entity chosen to conduct the wagering.
Besides casinos, the other possibilities include bars, fraternal organizations, truck stops, grocery stores and restaurants. Those are locations that currently have slot machines or keno games in many states making them a logical choice for sports betting. Free standing kiosks are also a possibility. At the moment, Rhode Island and Nevada are the only states that permit sports betting kiosks. For any state looking at options, kiosks operated by the state lottery are certain to be very attractive. The tax rates discussed vary widely. The rates imposed by the states that have already legalized sports betting run the gamut from 34 percent of win imposed by Pennsylvania to the more reasonable 12 percent Mississippi charges.
The competition is going to be intense between the lotteries and the casinos. Casino companies are lobbying heavily for the privilege at every opportunity. To further strengthen their bid, large casino companies have been very active forming partnerships with the major wagering companies, such as William Hill, Ladbrokes, FanDuel and DraftKings. The alliance of the largest casino companies and largest sports betting companies may seem unbeatable. But in some states, lotteries are proving to be very influential and strong candidates for bookmaking licenses.
My favorite line from the article is:
Like tattoos, skateboards, rap music and reality TV, sports and sports gambling is a cultural phenomenon, a trend that will run its own natural course. It is just in its infancy and there is a lot of growth to come.
Don’t look now, but sports betting is on it’s way and due to some of the recent success these books have been having, it only going to grow, get bigger and become unstoppable.
The SportsBettingFloodgates Are Officially Open In New Jersey It didn’t take long for New Jersey to get its sportsbetting industry up and running following the US Supreme Court decision that ended the federal prohibition on sportsbetting in May.
US Supreme Court Opening Floodgates to SportsBetting
Most importantly, sportsbetting is a direct threat to the integrity of free and fair competition between individuals or teams on the court, course, field, pitch, or any other sports format. Without the sense that competition is indeed fair, played by the rules of good sportsmanship such that the best man or best woman or best team wins, sportsbecomes a charade, a silly act like professional wrestling .
States prepare for decision to open sportsbettingfloodgates …
States prepare for decision to open sportsbettingfloodgates. A requirement that sportsbooks only use game stats provided by the leagues, especially for in-game bets. The inclusion of mobile wagering, allowing fans to bet without visiting a casino or racetrack.
How to Strike It Rich as SportsBetting Comes Out of the …
By striking down a federal law prohibiting sportsbetting, the Supreme Court opened the floodgates to a multibillion-dollar industry. As sportsbetting comes out of the shadows and into the mainstream, we see a huge profit opportunity. Regards, E.B. Tucker Editor, Strategic Investor. P.S. Circle February 4, 2019 on your calendar.
Sports gambling floodgates may soon swing wide open …
But, because the constitutional questions raised in the case can affect broader policy matters such as the enforcement of federal immigration and marijuana laws, some remain skeptical that the court will deliver anything more than a narrow ruling that would clear the way for sportsbetting in New Jersey, but only in an unregulated and untaxed fashion.
Supreme Court allows states to legalize sportsbetting …
The floodgates for expanded legal sportsbetting opened in 2018 courtesy of the United States Supreme Court and Justice Samuel Alito. There is now full-fledged legal operation of sportsbooks in Delaware , Mississippi , New Jersey , Pennsylvania , Rhode Island, West Virginia , at one tribal casino in New Mexico, and of course it’s business as usual in the great state of Nevada.
Jersey, Philly Open SportsBettingFloodgates For Radio, TV …
Massachusetts has yet to legalize sportsbetting, but lawmakers there reportedly hope to take action in early 2019, according to the Hartford Courant.That could open a new revenue stream for Beasley and other radio operators in the state, especially those with sports outlets and other male-targeted stations.
Supreme Court Strikes Down PASPA, Paving Way for SportsBetting
Supreme Court Strikes Down PASPA, Opening the SportsBettingFloodgates. The opinion of the court was delivered by Justice Samuel Alito, who was joined by Justices Kennedy, Roberts, Kagan, Thomas and Gorsuch, as well as in part by Justice Breyer. Justices Sotomayor and Ginsburg were in dissent, along with Breyer in part. PASPA,…