Will Supreme Court open a ‘dam burst’ of legalized sports betting

Jussi

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Feb 28, 2002
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that is what i mean, crooked refs getting other people to bet for them

If thay make the betting system so trackable and detectable, by e.g. only giving wins in cash up to~500 dollars at stores/kiosks and having to use your own bank account for higher wins, then that should deter/limit foul play.
 

Fenway

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Massachusetts is on a fast track to get in on the action.

They want the Mass Lottery involved where people can go to their local store and bet on games with existing lottery terminals and Draft Kings is also based in Boston.

Hockey betting in the US has always been on the back burner but @Killion might recall when the Boston Irish Mob took control of a huge betting pool in Quebec which was based on 'time of last goal'. The timekeeper/PA announcer at the Forum got fired for playing games with the clock.

Coolopolis: The great Montreal Canadiens illegal gambling timekeeping scandal of 1969
 
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Killion

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Feb 19, 2010
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Massachusetts is on a fast track to get in on the action.

They want the Mass Lottery involved where people can go to their local store and bet on games with existing lottery terminals and Draft Kings is also based in Boston.

Hockey betting in the US has always been on the back burner but @Killion might recall when the Boston Irish Mob took control of a huge betting pool in Quebec which was based on 'time of last goal'. The timekeeper/PA announcer at the Forum got fired for playing games with the clock.

.... indeed so. Gambling used to be a huge thing in the early days of
the NHL as well. Maple Leaf Gardens & elsewhere Dens of Inequity. :laugh:
 

Fenway

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.... indeed so. Gambling used to be a huge thing in the early days of
the NHL as well. Maple Leaf Gardens & elsewhere Dens of Inequity. :laugh:

@Killion - There was a 'souvenir' stand at Boston Garden that was always mobbed before a game as that is where the Garden bookie was. Jacobs tried to get rid of him when he bought the club but was never able to do it.

Same at AHL Providence

 
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killer1980

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Watched CNBC for a while and they never addressed what was the most important issue, the ability to bet online. Truth be told, sports betting in terms of overall casino action is a small percentage. It is much bigger online. Waiting to see how that plays out. That's the way I see it.
 

Killion

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Feb 19, 2010
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@Killion - There was a 'souvenir' stand at Boston Garden that was always mobbed before a game as that is where the Garden bookie was. Jacobs tried to get rid of him when he bought the club but was never able to do it.

Same at AHL Providence



.... oh wow, thats awesome. Love the short video, old clips. :thumbu:
 

LadyStanley

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Middlekauff: Professional sports changed forever with...
SF Athletic on ruling.
In 2017, Nevada saw a record of $4.9 billion wagered on sports, according to Sports Business Daily. The interest of putting cash on a game has never been higher. You better believe California is licking its lips with a sum that will easily exceed Nevada’s number someday in the future. We have way more people living in the state. It’s just basic math.

A great nugget from Dan Wetzel’s column Monday on Yahoo: The Sports Business Daily reported there are some 50 different gambling brands in England sponsoring professional soccer clubs there. The U.S. market is more than five times as large.


NBR (starts ~9:00 in)
 

LadyStanley

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Speculation is that a lot of the estimated billions in illegal gambling would go legit.

That gets taxed/regulated (IOW local/state governments get a cut as well as large wins reported to income taxing levels IRS/state).
 

royals119

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Jun 12, 2006
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The PA wants a cut of the pie. The "rights of privacy and publicity" is all about the publicity, not the privacy.
They probably will also want some rules in place about their personal information being released. With increased gambling comes increased interest in players' health, injury status, reasons for not playing, etc. The NHL has generally been less forthcoming with that information compared to other leagues. The gambling companies and the players unions and leagues will probably be negotiating some kind of standard format and time frame for reporting of that information.
 

Ziggy Stardust

Master Debater
Jul 25, 2002
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Lot of speculation from business insiders who believe that the value of owning a sports franchise may skyrocket as a result of this ruling.

Here's an interesting read from Bloomberg, where they anticipate can be on the table in the form of corporate sponsorship, media rights, advertising, and data.

‘Gigantic Pool’ of Cash Awaits Teams in Dawn of Legal Betting

All these revenue streams will further feed soaring team valuations. Over the past decade, lucrative media rights deals have fueled rising valuations. Forbes estimates that the Knicks, the NBA’s most valuable franchise, are now worth a league-record $3.6 billion, a fivefold increase over the team’s $613 million valuation in 2008.

Gambling could have a similar effect. “It’s not hyperbole -- they will at least double,” Mark Cuban, the owner of basketball’s Dallas Mavericks, wrote in an email, pointing to increased competition for media rights and a bigger audience.

Owners can definitely expect a boost, said Peter Schwartz, a valuations expert and consultant at Anderson Economic Group in New York. “The primary driver would be the potential revenue that leagues could generate from becoming business partners with gaming corporations,” he said, suggesting that teams might share the revenue as they currently do with media money.

Some of that will depend on how quickly owners move to embrace the new market. Some owners, like Leonsis, have already considered a future where his arena doubles as a sports book. “This is a new frontier for professional sports,” Leonsis aid. “Teams who don’t seize on this opportunity will be left behind.”
 

BattleBorn

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People already bet on sports, now it's legal and the money will go to corporations instead of scofflaw guys booking sports.
 

cutchemist42

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Apr 7, 2011
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If the leagues think it was so valuable, why even lobby against it for so long? Like Im having trouble thinking if they truly wanted this or not based on some reactions still.
 

LadyStanley

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People already bet on sports, now it's legal and the money will go to corporations instead of scofflaw guys booking sports.

Technically, it's still not in most areas. Although SCOTUS has ruled the law unconstitutional, there's still the issue of state and/or local laws/ordinances that need to be written/passed to regulate how one bets.

**Soon** is the operative word. Some of the articles I'm reading are looking at 2019 for start due to season timings.
 

BattleBorn

50% to winning as many division titles as Toronto
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Technically, it's still not in most areas. Although SCOTUS has ruled the law unconstitutional, there's still the issue of state and/or local laws/ordinances that need to be written/passed to regulate how one bets.

**Soon** is the operative word. Some of the articles I'm reading are looking at 2019 for start due to season timings.
Either way, it's the same thing.

Instead of placing a wager with the local bookie, people outside of Nevada will do it with a corporation with less attractive odds. We'll see how it develops.
 
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cutchemist42

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Saw Monmouth Park will be looking to have the sportsbook ready for Memorial Day. They had been doing renos for a while thinking the law wouldnt hold up.
 

LadyStanley

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NHL's road to gambling revenue lengthy despite Supreme Court ruling - Sportsnet.ca

Leagues may not get any money from new sports betting.
North American sports leagues control their intellectual property through copyrighted names, logos, video footage and proprietary data. There is little to no indication that the new sports gambling systems will require any of those elements. As we’ve seen in previous attempts (in Canada and in Nevada), using city names without any league affiliation is allowable, therefore no licensing is required.

Bottom line is, the states don’t really need pro sports to participate in the program, in order for sports gambling to occur. It might enhance it. But it is not a necessity. Frankly, I’m not sure why the states would want to share the revenue. Also, don’t be surprised if the success of this activity relies on the prop bets; the ones that take little or no expertise, and can be initiated even after the game begins, particularly in an online environment.

As seen earlier, from Nevada, there's a tax on bet that goes to state, and more on winner. And sportsbooks don't make but perhaps 1% on bets.
 
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Fenway

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Hockey was always considered a sucker bet by the Boston street bookies.

The bookies wouldn't have a vig (juice) on hockey but there was a big middle ground where the house would win.

They would issue a line Bruins favorite 1 - 1 1/2 - which meant the Bruins had to win by 2 or more for the bet to be paid. I saw many questionable misses of sure empty bet goals.
 

Jussi

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Monmouth Park now wants to go after the leagues for damages.

NJ sports betting: Monmouth Park chasing sports leagues for damages after court fight

And yeah, there is no reason for any state to give the leagues money unless you are a bought politician. Nevada and Canada already dont.

To my knowledge, none of the leagues in Europe get any share of it either. Unless they're sponsored by some betting company. Finnish hockey league has had the national lottery and sports betting agency Veikkaus as one of their main sponsors for a couple of decades.

I think the states should look at the Nordic model for organizing sports betting. A percentage of the revenue would be allocated to funding various social projects. I would think schools, healthcare and infrastructure would benefit from it greatly.
 

LadyStanley

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I think the states should look at the Nordic model for organizing sports betting. A percentage of the revenue would be allocated to funding various social projects. I would think schools, healthcare and infrastructure would benefit from it greatly.

As quoted before, the state of Nevada takes a cut of every bet placed. Obviously that is used for infrastructure and other state expenditures.
 

TheMoreYouKnow

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May 3, 2007
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To my knowledge, none of the leagues in Europe get any share of it either. Unless they're sponsored by some betting company. Finnish hockey league has had the national lottery and sports betting agency Veikkaus as one of their main sponsors for a couple of decades.

I think the states should look at the Nordic model for organizing sports betting. A percentage of the revenue would be allocated to funding various social projects. I would think schools, healthcare and infrastructure would benefit from it greatly.

I don't know why you'd think they'd adopt the Nordic model when America hasn't adopted the Nordic model in anything else. Before long this industry will simply be dominated by a few massive private players i.e. more along the UK model.

New Jersey sued for this because they tricked themselves into thinking that Vegas having an unfair edge on sports betting is the cause of their tawdry coastal 'resort' towns like Atlantic City declining while Vegas prospers. Now New Jersey also happens to be the state of the union where "gambling interests" (*cue for Sopranos music*) have the biggest political muscle outside Nevada, so yeah that probably also played a role here.

Now in the UK, actual gambling parlors have been in decline for a while..online gambling is what it's all about. And it's gonna be the same in the U.S. obviously. States and communities will profit about as much from this as they profit from online retailers. Those online gambling providers will be Delaware corporations and if they have a physical presence anywhere in the U.S. to begin with, I would imagine that Vegas is as good as any place for it.
 

mouser

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Monmouth Park now wants to go after the leagues for damages.

NJ sports betting: Monmouth Park chasing sports leagues for damages after court fight

And yeah, there is no reason for any state to give the leagues money unless you are a bought politician. Nevada and Canada already dont.

Interesting, without reading the full court decision, they could be in good position to get some tens of millions in damages from the professional Leagues, maybe more.

So far as I understand, the Leagues were able to get a restraining order in 2014 blocking Monmouth from taking sports bets. The judge required the Leagues to post a bond of $3.4m, estimated as the monthly loss Monmouth would suffer under the restraining order. Typically in situations like this when a bond is required the court is recognizing that the party under the restraining order has the right to pursue damages if they ultimately prevail in the legal case.

If the $3.4m/month loss estimate was correct, that would be over $140m for the 42 months the restraining order was in effect.
 
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