US Supreme Court Strikes down federal gambling ban

[saint]

I wouldn't get too excited yet fellas.

Take NJ for instance- bets only to be taken at sportsbooks and the racetracks. That doesn't solve anything unless you live 5 min from either place.

Many of us are in states that still won't allow it.

Then let's look at the lines and what the spread will be. I can tell you it's not going to be cheap, the vig is going to be ridiculous. I don't buy the "competition" aspect because it's going to be controlled state to state. Why bet on a 10c or 20c line when I can get reduced juice online.

Then let's look at the fact that winnings are going to be taxable income. So for the very few winners out there (don't worry I'm not one in the long term)- you are not only going to have to beat the vig at close to 60% winners but then factor in paying taxes- good luck being profitable.

I just don't see it being that good. Offshores will still dominate.

 

[beantownjim]

SAINT HOW DO YOU SEND MONEY OFFSHORE WESTERN UNION AND MONEYGRAM ARE NO LONGER AN OPTION AND NO I AM NOT GOING TO SEND MY CREDIT CARD INFO TO A BUNCH OF CROOKS IN COSTA RICA :shrug:

 

[yyz]

I wouldn't get too excited yet fellas.

Take NJ for instance- bets only to be taken at sportsbooks and the racetracks. That doesn't solve anything unless you live 5 min from either place.

Many of us are in states that still won't allow it.

Then let's look at the lines and what the spread will be. I can tell you it's not going to be cheap, the vig is going to be ridiculous. I don't buy the "competition" aspect because it's going to be controlled state to state. Why bet on a 10c or 20c line when I can get reduced juice online.

Then let's look at the fact that winnings are going to be taxable income. So for the very few winners out there (don't worry I'm not one in the long term)- you are not only going to have to beat the vig at close to 60% winners but then factor in paying taxes- good luck being profitable.

I just don't see it being that good. Offshores will still dominate.

Why would tax implications be any different than winning in Vegas? I don't claim those wins.

 

[jas4bama]

I don't get the excitement unless you are actually planning a trip to the "allowed " spots as a vacation destination? Every "local" now has a web site that you can play on 24 /7 from your home or cell. Sending money overseas is a thing of the past to me,BUT,again,Maybe there are some areas that does not have a solid "local"?:0corn

 

[hammer1]

JACK I HAVE NEVER MADE A LEGAL BET IN LAS VEGAS DO YOU REALLY GET TAXED ON YOUR WINNINGS.

OFFSHORE SPORTSBOOKS RIGHT NOW ARE USELESS I HAVE TRIED AND TRIED TO SEND MONEY USING MONEYGRAM AND IT GETS FLAGGED EVERYTIME

HOW ARE PEOPLE FUNDING NOW OFFSHORE I WILL NEVER USE A CREDIT CARD

Beaner I am a in a partnership on a Bombardier Challenger 601 an will be Flying to Fortaleza , Brazil and a stop in Columbia chip in fer fuel an we can drop u off any where and u can deposit in person..

 

[REFLOG]

Beaner I am a in a partnership on a Bombardier Challenger 601 an will be Flying to Fortaleza , Brazil and a stop in Columbia chip in fer fuel an we can drop u off any where and u can deposit in person..

Of course you are:142smilie

 

[hammer1]

Of course you are:142smilie

Bill Lear made a Great Plane ! :0008

 

[yyz]

I don't get the excitement unless you are actually planning a trip to the "allowed " spots as a vacation destination? Every "local" now has a web site that you can play on 24 /7 from your home or cell. Sending money overseas is a thing of the past to me,BUT,again,Maybe there are some areas that does not have a solid "local"?:0corn

Don't you think you will be able to bet from your phone with the new books? There is no way they won't have that available.

 

[Old School]

Don't you think you will be able to bet from your phone with the new books? There is no way they won't have that available.

eventually a cash deposit with pin number and easy wagering by phone is a stark reality.

can't believe they [states ] will allow credit cards for obvious reasons.

how else does every state get every single penny they can get by the easiest means possible.

checking account or credit account you are responsible for who has those numbers..

why should it be any different with your funded state gambling account.....:shrug:

all this will take time......but the horse is out of the barn now....

Every state will be watching the other to see what works and what doesn't.

Mark Cuban of the Mavs sounded excited today about it..

You can hear his thoughts on Dan Patrick Show replay of today's show

 

[REFLOG]

Why is Cuban excited?
How is it that team owners expect to profit from legalized gambling? Are they gonna share in the losses as well as the wins?
Are you gonna bet through your local state sanctioned bookie joint and pay more so the NBA can get their cut?

 

[Penguinfan]

Why is Cuban excited?
How is it that team owners expect to profit from legalized gambling?

More TV viewers means more advertising dollars. TV viewers will watch to the end in blowout games they might have turned off earlier otherwise.

The teams will be more profitable and thus more valuable when it comes time to sell. This will be good for the value of franchises and good for TV revenue, even for bad teams.

The US has screwed the pooch by allowing it to go this long without legalizing it. Hopefully the marijuana police are quick to follow. Tax money has been going offshore by the shipload. The gov't wasn't going to stop it so they may as well get a revenue stream from it. A couple decades too late, but still.....

 

[REFLOG]

More TV viewers means more advertising dollars. TV viewers will watch to the end in blowout games they might have turned off earlier otherwise.

The teams will be more profitable and thus more valuable when it comes time to sell. This will be good for the value of franchises and good for TV revenue, even for bad teams.

The US has screwed the pooch by allowing it to go this long without legalizing it. Hopefully the marijuana police are quick to follow. Tax money has been going offshore by the shipload. The gov't wasn't going to stop it so they may as well get a revenue stream from it. A couple decades too late, but still.....

Unless they suck like the MAvs:scared

 

[yyz]

More TV viewers means more advertising dollars. TV viewers will watch to the end in blowout games they might have turned off earlier otherwise......

The people who bet on games are already watching. It's not like a whole new segment will pop up because gambling is now legal. You either gamble, or you don't.

 

[Penguinfan]

The people who bet on games are already watching. It's not like a whole new segment will pop up because gambling is now legal. You either gamble, or you don't.

For the most part you are right, but there will be some who wouldn't gamble with a local and certainly weren't sending money offshore who will try their hand at it now.

 

[yyz]

For the most part you are right, but there will be some who wouldn't gamble with a local and certainly weren't sending money offshore who will try their hand at it now.

Certainly. I just can't see it moving the needle much.

 

[Old School]

something close to scratch tickets when they came out maybe

 

[jas4bama]

Don't you think you will be able to bet from your phone with the new books? There is no way they won't have that available.

I would think so because if not they will be behind times

eventually a cash deposit with pin number and easy wagering by phone is a stark reality.

can't believe they [states ] will allow credit cards for obvious reasons.

.

I agree..No way credit cards gets involved cause then the whole world is turned upside down

The people who bet on games are already watching. It's not like a whole new segment will pop up because gambling is now legal. You either gamble, or you don't.

Agree.This goes to my comment about unless its a destination vacation or similar just don't see the big deal

 

[hedgehog]

eventually a cash deposit with pin number and easy wagering by phone is a stark reality.

can't believe they [states ] will allow credit cards for obvious reasons.

how else does every state get every single penny they can get by the easiest means possible.

checking account or credit account you are responsible for who has those numbers..

why should it be any different with your funded state gambling account.....:shrug:

all this will take time......but the horse is out of the barn now....

Every state will be watching the other to see what works and what doesn't.

Mark Cuban of the Mavs sounded excited today about it..

You can hear his thoughts on Dan Patrick Show replay of today's show

Here is the interview https://youtu.be/eU4O8YEAKKk

 

[Old School]

I got the impression from Cuban and earlier interviews w/Silver that they invision peanuts,popcorn and halftime lines on the spot in the stands with the same zest and conversation that is had in Europe.

and some how some a little piece of the pie...........:0002

 

[kickserv]

I agree..No way credit cards gets involved cause then the whole world is turned upside down

Credit cards have been involved here (Canada) for Sports Betting forever, same with UK, Aussy and many other countries. The credit card companies make millions of dollars, why would they stop it in the USA if it is legal?