Here we go...

ESPN reports

I'm not convinced that this will be a terrible thing for the integrity of the various sports leagues. Seems to work fine in a few other Western nations.

Although...I think it has the potential to affect college athletics more than the pros because the players aren't technically getting paid obviously.

My advice would be this...

For sports leagues and the NCAA to get in on the ground floor of this. The best way to maintain the integrity of the sports leagues is to be a part of controlling the process. The more they fight it and/or local legislators then the more the door is opened for the unscrupulous to manipulate the situation.

(05-14-2018 11:39 AM)AllTideUp Wrote:  Here we go...

ESPN reports

I'm not convinced that this will be a terrible thing for the integrity of the various sports leagues. Seems to work fine in a few other Western nations.

Although...I think it has the potential to affect college athletics more than the pros because the players aren't technically getting paid obviously.

My advice would be this...

For sports leagues and the NCAA to get in on the ground floor of this. The best way to maintain the integrity of the sports leagues is to be a part of controlling the process. The more they fight it and/or local legislators then the more the door is opened for the unscrupulous to manipulate the situation.

Uh, they've already been manipulating it. This is a tough one. In some ways legalizing it helps you with oversight and in other ways legalizing it will increase the traffic which will increase the amount of money wagered on the games which will drive the need of the gambling houses to find illicit ways of hedging their bets.

Really this decision is just another of many which indicate just how morally bankrupt the nation is.

(05-14-2018 12:04 PM)JRsec Wrote:  

(05-14-2018 11:39 AM)AllTideUp Wrote:  Here we go...

ESPN reports

I'm not convinced that this will be a terrible thing for the integrity of the various sports leagues. Seems to work fine in a few other Western nations.

Although...I think it has the potential to affect college athletics more than the pros because the players aren't technically getting paid obviously.

My advice would be this...

For sports leagues and the NCAA to get in on the ground floor of this. The best way to maintain the integrity of the sports leagues is to be a part of controlling the process. The more they fight it and/or local legislators then the more the door is opened for the unscrupulous to manipulate the situation.

Uh, they've already been manipulating it. This is a tough one. In some ways legalizing it helps you with oversight and in other ways legalizing it will increase the traffic which will increase the amount of money wagered on the games which will drive the need of the gambling houses to find illicit ways of hedging their bets.

Really this decision is just another of many which indicate just how morally bankrupt the nation is.

Has always been there. Now we can get taxed for it.

Seems to me this legal betting might actually decrease illegal gambling. It was always very unfair to just allow this in some places and not other states. Mississippi, prior to legalized gaming, had a lot of illicit gambling houses, and they seem to be gone now. I have over a dozen casinos within 15 miles of my house. I can just bet on Alabama every year and make a fortune. lol

(05-14-2018 03:56 PM)USAFMEDIC Wrote:  Seems to me this legal betting might actually decrease illegal gambling. It was always very unfair to just allow this in some places and not other states. Mississippi, prior to legalized gaming, had a lot of illicit gambling houses, and they seem to be gone now. I have over a dozen casinos within 15 miles of my house. I can just bet on Alabama every year and make a fortune. lol

From a financial standpoint I don't have the issues with it that I do with a lottery. The problem with lotteries is that they by law can have no sales tax so the stores that sell them lose that revenue for the municipality or county, and the local property tax has to be raised to make up the difference. And the money doesn't circulate. It goes from the store selling the tickets to the state lottery office where it is deposited with the gambling associations half going directly out of state the following week.

Para-mutual betting would tax winnings as income and losses would be deductible against winnings. Both the House and the bettor would be taxed and that income stays in the state from both sources.

(05-14-2018 04:37 PM)JRsec Wrote:  

(05-14-2018 03:56 PM)USAFMEDIC Wrote:  Seems to me this legal betting might actually decrease illegal gambling. It was always very unfair to just allow this in some places and not other states. Mississippi, prior to legalized gaming, had a lot of illicit gambling houses, and they seem to be gone now. I have over a dozen casinos within 15 miles of my house. I can just bet on Alabama every year and make a fortune. lol

From a financial standpoint I don't have the issues with it that I do with a lottery. The problem with lotteries is that they by law can have no sales tax so the stores that sell them lose that revenue for the municipality or county, and the local property tax has to be raise to make up the difference. And the money doesn't circulate. It goes from the store selling the tickets to the state lottery office is deposited with the gambling associations half going directly out of state the following week.

Para-mutual betting would tax winnings as income and losses would be deductible against winnings. Both the House and the bettor would be taxed and that income stays in the state from both sources.

True. Mississippi takes around 30% or more taxes from jackpots, etc. My wife worked in the cage for years here handling table games chips and jackpots. If games are fixed it is already being done, so I think this is better.