Supreme Court legalizes sports gambling

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Supreme Court legalizes sports gambling

Post by Anaxagoras » Tue May 15, 2018 6:25 am

UK bookmaker values rise by over £1.5bn as sports betting to be legal in US
The value of London-listed gambling firms, including 888, Paddy Power Betfair and William Hill, surged by more than £1.5bn after the US supreme court struck down a nationwide ban on sports betting that has stood for 26 years.

The court upheld a legal challenge by the state of New Jersey, which argued that the Professional and Amateur Sport Protection Act of 1992 (PASPA) was unconstitutional.

The ruling, by seven votes to two, starts a race among British bookmakers and online gambling companies to win customers in the lucrative US market, with individual states now expected to draw up laws to allow sports betting.

Shares in online gambling firm 888, which operates a poker network in three US states, surged by more than any other company, gaining 15%.

The chief executive, Itai Frieberger, said the firm was “uniquely positioned to exploit the potential growth opportunities in the US market that today’s ruling opens up”.

Paddy Power Betfair and William Hill – both of which have built sizeable footholds in the US in readiness for the repeal of PASPA – enjoyed gains of 12.2% and 10.7% respectively.
What about other kinds of gambling?
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Re: Supreme Court legalizes sports gambling

Post by Morrie » Tue May 15, 2018 6:52 am

Did I tell ya about the point shaving in Holy Cross?

What, kid?
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Re: Supreme Court legalizes sports gambling

Post by Jimmy the Gent » Tue May 15, 2018 10:21 am

Gimme my fuckin' money!
You trying to be a wiseguy with me?

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Re: Supreme Court legalizes sports gambling

Post by Morrie » Tue May 15, 2018 10:30 am

Fuck you in the ear!

Fuck you in the other ear!!
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Re: Supreme Court legalizes sports gambling

Post by Abdul Alhazred » Tue May 15, 2018 12:47 pm

Is it the basic libertarian argument, or something more convoluted?

That is, does it cover things like office pools and various amateur bookies with day jobs? Or only gambling businesses explicitly registered and regulated as such?

Can the state governments of New York and Illinois still enforce their respective monopolies on horse race gambling while expanding to football etc?
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Re: Supreme Court legalizes sports gambling

Post by Anaxagoras » Tue May 15, 2018 2:11 pm

Abdul Alhazred wrote:Is it the basic libertarian argument, or something more convoluted?

That is, does it cover things like office pools and various amateur bookies with day jobs? Or only gambling businesses explicitly registered and regulated as such?

Can the state governments of New York and Illinois still enforce their respective monopolies on horse race gambling while expanding to football etc?
As far as I understand it, libertarian ideology has nothing to do with it (nor should it, that's not their job).

In effect, they decided to leave it to the states to decide (this was a federal law that superseded state law, with some carve-outs, such as for Nevada and Atlantic City).

You can read the actual decision for the reasoning. That's the Internet for you, you can read it straight from the source:

https://www.supremecourt.gov/opinions/1 ... 6_dbfi.pdf
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Re: Supreme Court legalizes sports gambling

Post by Abdul Alhazred » Tue May 15, 2018 3:33 pm

So basically, no change in status quo unless the state pols want it.
In which case they will take care of their pals and that's it.
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Re: Supreme Court legalizes sports gambling

Post by Abdul Alhazred » Tue May 15, 2018 4:39 pm

Aha! All of a sudden I understand the issue.

It's so the corporate welfare racketeers of the NFL can get a piece of the action.

There's a big joke in the middle of the legalized gambling discussion
Steve Rosenbloom in Chicago Tribune
...

It’s the so-called “integrity fee,’’ a 1 percent cut of the gambling loot that would be funneled to league owners. The NBA and MLB have pushed for getting this kind of share, and you can bet the NFL and NHL are lining up right behind them.

An “integrity fee’’ is included in an Illinois gambling proposal backed by Democratic state Sen. Napoleon Harris, the former Northwestern linebacker who played for the Raiders, Chiefs and Vikings. The proposal, according to the Tribune’s story, would allow casinos to offer betting on professional, amateur and collegiate events, as well as motor races, at brick-and-mortar locations, while also taking in-state internet wagers.

...
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Re: Supreme Court legalizes sports gambling

Post by Grammatron » Tue May 15, 2018 5:41 pm

I don't see why leagues should get any cut of the action unless there's an actual licensing deal.

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Re: Supreme Court legalizes sports gambling

Post by gnome » Tue May 15, 2018 5:56 pm

I would guess if the casinos want to use the associated trademarks, wouldn't there have to be a licensing agreement?
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Re: Supreme Court legalizes sports gambling

Post by Abdul Alhazred » Tue May 15, 2018 6:00 pm

As I understand the story, the NFL will get a rake off from Illinois state owned OTB parlors without doing anything except put on shows and pretend to prevent cheating. What they do anyway, that is. And the state will not be using any NFL branding.

So too in any other state that want to play that way.
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Re: Supreme Court legalizes sports gambling

Post by Grammatron » Tue May 15, 2018 6:03 pm

I have not been able to find references to Vegas casinos paying any leagues

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Re: Supreme Court legalizes sports gambling

Post by Abdul Alhazred » Tue May 15, 2018 6:08 pm

Not Vegas (where sports book is already legal and privately owned).

Illinois OTB.
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Re: Supreme Court legalizes sports gambling

Post by Grammatron » Tue May 15, 2018 6:20 pm

Abdul Alhazred wrote:Not Vegas (where sports book is already legal and privately owned).

Illinois OTB.
Yes I understand. I suppose I was not clear: Vegas can be copied in every state, Vegas does not pay to the leagues (as far as I know), why should any sports book in any other state pay anything to the leagues?

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Re: Supreme Court legalizes sports gambling

Post by Rob Lister » Tue May 15, 2018 6:23 pm

Wouldn't that constitute gambling on the part of the leagues?

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Re: Supreme Court legalizes sports gambling

Post by Abdul Alhazred » Tue May 15, 2018 6:27 pm

Grammatron wrote:
Abdul Alhazred wrote:Not Vegas (where sports book is already legal and privately owned).

Illinois OTB.
Yes I understand. I suppose I was not clear: Vegas can be copied in every state, Vegas does not pay to the leagues (as far as I know), why should any sports book in any other state pay anything to the leagues?
Because a state law says so, and the only bookie is the state.

Forget it Jake. It's Illinois.
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Re: Supreme Court legalizes sports gambling

Post by Abdul Alhazred » Tue May 15, 2018 6:28 pm

Rob Lister wrote:Wouldn't that constitute gambling on the part of the leagues?
Yes.

All that money generated by the NFL, and none of it legally accessible to the owners.

The Supremes have averted a tragedy. :roll:
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Re: Supreme Court legalizes sports gambling

Post by Anaxagoras » Wed May 16, 2018 10:08 am

Fwiw, this seems to be the part of the constitution that makes this law unconstitutional
Article 10 U.S. Constitution
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
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Re: Supreme Court legalizes sports gambling

Post by gnome » Wed May 16, 2018 10:15 am

Been a long time since someone actually paid attention to that it seems.

I realize that stricter adherence would affect things I support as well, but I can admit the doctrine needs more attention.
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Re: Supreme Court legalizes sports gambling

Post by WildCat » Wed May 16, 2018 11:53 am

Anaxagoras wrote:What about other kinds of gambling?
It's already legal at the federal level.
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