Will Supreme Court open a ‘dam burst’ of legalized sports betting
- Thread starter cutchemist42
- Start date
The landscape has changed in 25 years. Today most of your major Vegas casinos have locations across the country. Many of them have built 'racebooks' that focus on horse racing but can easily be made into a sportsbook.
Today the major sports leagues in the US simply want a piece of the action.
Today the major sports leagues in the US simply want a piece of the action.
David Dennison
I'm a tariff, man.
Yeah, the NFL and MLB hold stakes in Draftkings/Fanduel/etc, whose whole business model is to exploit a loophole in the online gambling laws. I guess when you have 60 or so billionaires on one side if the issue, the law tends to go that way. Shocking, I know.
Major U.S. sports leagues hedging their bets on legal gambling | Toronto Star
WASHINGTON—In court, all four major U.S. sports leagues are fighting New Jersey’s challenge to the federal ban on sports gambling, which the Supreme Court will hear next week.
Outside of court, leaders of three of the four leagues have made public comments that suggest they wouldn’t mind losing the case. Only the NFL has been steadfast in its opposition to gambling, a stance that critics see as hypocritical, especially as the Raiders plan a move to a billion-dollar stadium just off the Las Vegas Strip.
WASHINGTON—In court, all four major U.S. sports leagues are fighting New Jersey’s challenge to the federal ban on sports gambling, which the Supreme Court will hear next week.
Outside of court, leaders of three of the four leagues have made public comments that suggest they wouldn’t mind losing the case. Only the NFL has been steadfast in its opposition to gambling, a stance that critics see as hypocritical, especially as the Raiders plan a move to a billion-dollar stadium just off the Las Vegas Strip.
mouser
Business of Hockey
The sad situation is the big league maneuvers now are all about how they can make a buck off of gambling on their sport. If New Jersey wins then the major sports league don't get anything.
I'm thinking Adam Silvers long term goal with legalizing more gambling is how the NBA can get a cut of that gambling action.
@mouser Wynn is currently building a casino less than 3 miles from downtown Boston at a cost of $2.5 BILLION. You know they want a sportsbook in Massachusetts badly.
mouser
Business of Hockey
I'm sure they'd love to have a sportsbook. Still, when you do the math the slot machines and tables games are more profitable then a sportsbook so I doubt it's that critical to the Wynn business model to get sports betting in there.
I am astounded Wynn is betting so much on a Boston casino. I can see the hotel rising from my place and while their website promises glorious views from the rooms
WYNN BOSTON HARBOR
The reality
BKIslandersFan
F*** off
Chet Manley
Registered User
I am astounded Wynn is betting so much on a Boston casino. I can see the hotel rising from my place and while their website promises glorious views from the rooms
WYNN BOSTON HARBOR
The reality
Looks a lot like 200 years after a post-nuclear apocalypse.
Cyclones Rock
Registered User
- Jun 12, 2008
- 10,591
- 6,498
As the betting 'action' gets distributed throughout the country, Vegas is going to obviously get less of it. While the overall amount bet on sports would jump significantly, there would be no reason for individuals or bookies to go to Vegas to bet or lay off sports bets.
I'm pretty sure it would impact the Vegas economy negatively, but I don't know to what extent. I would think that casinos make most of their money on slots and table games and that sports book is a relatively small piece of the profit pie, so I don't think it would crash the Vegas economy, but there would be a neglible to noticeable drag upon it. People who'd fly out to Vegas to place substanial bets wouldn't be renting hotel rooms and spending money in restaurants, etc. anymore in addition to not placing their bets in Sin City. I'd guess that those sports betters who wouldn't be coming to Vegas anymore (or as regularly) also played some table games and slots as well, so there would be some effect on that part of the Vegas equation as well.
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People tend to bet on their local teams (VGK is a prime example of this) so would sportbooks in different markets keep different odds in each location? Currently the larger sportsbooks don't do that. How will the offshore sportsbooks influence this?
tony d
Registered User
Will be interesting to see what happens Re: Vegas. Given they should have 2 major sports teams by 2020 or 2021 I think that'll help their economy should they lose anything from the casinos. In any event Vegas sells itself so personally I think they'll be fine regardless of what may happen.
BKIslandersFan
F*** off
Yea, you don’t go to Vegas JUST to bet on sports. You can honestly still do that locally.
It is the largest private construction job in Massachusetts history. It just shows how much casinos take in.
I admit I would love to spend an afternoon watching football in a sportsbook.
Curufinwe
Registered User
- Feb 28, 2013
- 55,717
- 42,699
In New Zealand the sports benefit greatly via government grants from legalized gambling.
Sport, Gambling and Grants - dia.govt.nz
Sport, Gambling and Grants - dia.govt.nz
David Dennison
I'm a tariff, man.
Yeah Im not sure how the money flows and the technicalities of it all, but I have no problem (in Missouri) getting on bovada for sports, and others for online poker.
LeHab
Registered User
- Aug 31, 2005
- 15,957
- 6,259
A quick google shows about 4 billions waged per year recently on sports with a return of 95% to betters. They already face stiff competition from underground local and online gambling. Was expecting total wagers to be higher. As for actual impact, who knows..
njdevsfn95
Help JJJ, Sprite.
- Jul 30, 2006
- 31,348
- 55
madhi19
Just the tip!
At this point I would no be shocked if you could bet a kidney online!
Zegras Zebra
Registered User
It's fine as long as you don't bet both of them
cutchemist42
Registered User
mouser
Business of Hockey
I hope that NJ prevails. Not so much that I care about the betting aspects, but more that the whole federal law seems very arbitrary and unconstitutional to me. Dictating that some states can allow a specific type of business while others cannot.
cutchemist42
Registered User
The Twitter commentators who followed it live are saying they feel PASPA will be 6-3 in striking it down. If you are the leagues, are you pissed after putting money into DFS? I think people like single game betting more.
mouser
Business of Hockey
Having a hobby of following and reading many Supreme Court rulings I’ve learned to be very cautious over predicting how the various Supremes will decide. Especially if the prognosticators are basing their opinions on how the different justices questioned the two sides in court.
It’s not uncommon for a justice to appear to be questioning and challenging one side of a case harder then the other yet still rule for that same side. Presumably laying the groundwork for their ruling through the harder questioning.
p.s. I still agree there’s a high probability PASPA gets overturned.
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