Indian Casino Fans Rejoice: Marathonbet Is Here For You – It’s been 15 months since the US Supreme Court overturned the Bradley Act, making sports betting potentially legal in the US. The sports betting genie is out of the bottle and will never be made again. However, expectations that legalized sports betting will sweep the country have turned out to be overblown.
Ten states and the territory of Puerto Rico have joined Nevada in offering live single-game betting. The District of Columbia and seven states have permitted betting but not yet enacted it, while 18 states are still working on sports betting legislation. Florida and seven other states don’t even think about it.
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There are some advantages. Casey Clark of the American Gambling Association writes, “States and sovereign tribal nations have moved to establish their own legal regulated sports betting markets, which generated $430.2 million industry-wide last year. That’s more than the $261.3 million Nevada alone generated in 2017 earned. “It’s a big step forward.” (Note: If the unit of measurement is less reliable, the handle is a lot more money.)
First, a bit of background. In 1992, Congress passed the Professional and Amateur Sports Protection Act (PASPA), also known as the Bradley Act, named after New Jersey Senator Bill Bradley, a former professional basketball player. The law allows states to allow sports betting for a year or lose the game forever. Nevada took advantage. New Jersey does not. Delaware, Oregon and Montana enacted versions of sports betting so arcane that it became a negligible source of revenue.
During Garden State Governor Chris Christie’s tenure (2010-2018), New Jersey began litigating the Bradley Law and even tried to circumvent it by legalizing unregulated sports betting. Neither that nor the state’s argument made it to many federal courts … until Christie and his successor, Phil Murphy, reached the US Supreme Court. These debates have less to do with handles and spreads than with esoteric concepts like “expropriation”: the federal government’s ability to usurp powers that normally belong to the states. The Supreme Court ruled 6-3 that the Bradley Act did not apply, invalidating it.
On Capitol Hill, lawmakers, unfazed by the high court’s ruling, immediately began flirting with the idea of federally regulating sports betting. It is a concept without buoyancy. As AGA Chairman Bill Miller told the sportsbook operator, “I’m on the Hill a lot and I’m talking to a lot of senators, members of the House of Representatives, and there’s very little interest in the House or the Senate to pass federal legislation on this.” In fact, the conversation seems to have died down.
As for the major sports leagues and the NCAA, which is responsible for college sports, they have made a big change and begun to shake the casino’s share of profitability. One strategy is to try to require casinos to get their betting data strictly from the leagues themselves. Another option is to try to charge an “honesty fee”, which is a form of taxation on sports betting. “They’re 0-for-19 so far,” Miller told the Las Vegas Review-Journal. “Obviously the leagues have an obligation to run their teams fairly, but they did that before sports betting came to these states. So lawmakers are rejecting the argument that they have to charge extra for what they did before.”
Sports Betting Stampede
The league is so eager to have sex with sports betting that some states, including New Jersey and Illinois, have — or will soon — have sports betting integrated into professional stadiums. So if the Chicago Cubs are a little slow and you’re feeling a little nervous about the crosstown White Sox game, you can walk up to the window at Wrigley Field and place a bet.
State governments have not been shy about taxing sports betting. But their profit expectations collide directly with reality when the amount of hundreds of millions of dollars shared (the money at stake) is reduced to tens of millions of dollars (the book win). For example, the predicted outcome of the Super Bowl game was widely considered to be a dud because the bookies did nothing and left all parties hurt. New Jersey handled $251 million last July, but once all the players are paid, only $18 million is left for the casinos and the state to split.
In one state, New Mexico, tribal casinos have snuck a loophole into their treaty that doesn’t outright ban sports betting. They have used different methods for this. The Santa Ana Star Casino is everything, while the Isleta Resort & Casino operates strictly for the University of New Mexico team’s in-state game. “There was never any hesitation because the gaming community goes to extreme measures to prevent any possible wrongdoing,” Isleta CEO Harold Baugus explained to the Albuquerque Journal.
So far, sports betting has barely penetrated the Indian state, in part because of the need to change existing contracts (which New Mexico doesn’t) and in part because of the difficulty of getting all parties involved, which has paralyzed California in gridlock. Several tribes accept internet gambling. (Plus, California’s controversial poker room industry wants a piece of it, and locals hate poker rooms.)
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Nevada’s supremacy in sports betting is being challenged by New Jersey, which has enjoyed commuter business from Pennsylvania and New York. That could soon change when Penn sportsbooks hit the market. Some New York casinos have brick-and-mortar betting, but that won’t pose much of a challenge to New Jersey unless New York Gov. Andrew Cuomo reverses his position that mobile betting — where real money is involved — requires a constitutional amendment. case. “Jersey is beating our bells right now in terms of sports betting,” lamented Assemblyman Gary Pretlow as he made the Empire State’s first sports bet.
The New Jersey/Nevada game is one that commentators like Gouker like to get excited about late in the game. The Silver State continued to hold its ground, however, with New Jersey taking in $3.2 billion of the $5.2 billion it had in its first full month of legal sports betting. (Jersey’s neighbor was indeed at a significant disadvantage, but much of its sports betting infrastructure was in place by the time Christie v. NCAA was decided in the state’s favor.)
“Online sports betting is clearly a driver of the New Jersey sports betting market, and certainly more so than it has historically been in Nevada,” PlayNJ.com analyst Dustin Gouker said. Revenue is $251 million, but only $38 million. this resulted from unsupervised operations. Even with just one online bookie in June, Pennsylvania saw $46 million in bets, 42 percent of which were online — and many casinos are now struggling.
When other states like Iowa and Illinois passed sports betting, they used it as a Trojan horse to develop bad ideas that had nothing to do with gambling. For example, Iowa lawmakers revived a Clinton administration concept of using casinos to collect child support. Once winnings reach the $1,200 IRS block, patrons are subject to checks for credit or child support, which takes enforcement power away from the states and hands it over to the casinos.
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While some states are disappointed with the tax revenue, peer pressure is still pushing them toward sports betting. The latest news is that Rhode Island Governor Ned Lamont is tired. “I’m going to re-invigorate all the [gaming] ideas that get us out of the woods, and I’m not going to sit down and talk about gambling for the next three years — because in terms of my priorities, I’m not sure it’s in the top 20,” he sighed to reporters. Lamonti two of the biggest components, the sprawling Foxwoods Resort Casino and Mohegan Sun, already take online sports betting, so why not?The real money is there.
A definite beneficiary of the popularity of sports betting is the horse racing industry. In the recent past, he has hoped to keep Kingsports going with simulcasts and “historic contests” (betting a video lottery terminal on contests already in progress). Horses have reason to rejoice now that there is an opportunity to offer betting on all sports.
Even giddier is a fan of jaiai, predicting that the sport (betting has never been banned) will flourish when customers can bet on individual players. The main obstacle remains Florida’s dysfunctional legislature, which can’t even decide whether daily fantasy sports is an acceptable form of gambling.
BUT Miller sees the boom in sports betting as obvious. He told the Las Vegas Sun that “after experiencing firsthand the social and economic benefits that gaming can bring to the community, including increased support for non-profit organizations –
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