Houston Owl
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OT - Sports Wagering is on the Way
The Supremes announced a decision today which greatly limited the PASPA (Professional and Amateur Sports Protection Act). Apparently, New Jersey will be the first to offer sports gaming in its casinos and race tracks. Monmouth Park, which bankrolled part of the legal expenses, will apparently be ready to accept bets on the NBA Finals as early as next Monday or Tuesday.
There are five other states that have passed enabling legislation in anticipation of the ruling by the Supreme Court (including Mississippi). I would think that market forces would cause rapid adoption of sports gaming as the states attempt to maintain a competitive balance (i.e. why would you want to attend a watch party for the Saints-Cowboys game at Harrah's in New Orleans when you can watch 45 minutes down the road in Bilxoi and bet on the game, and each proposition bet, etc).
Part of the controversy will be the so-call "integrity fees" charged by the pro sports leagues. It will be interesting to see how that shakes out. The West Virginia law includes a similar fee for both WVU and Marshall.
The next few weeks will be interesting in this arena.
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05-14-2018 04:37 PM |
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Fort Bend Owl
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RE: OT - Sports Wagering is on the Way
Do you think Texas will ever join in on the action?
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05-14-2018 05:03 PM |
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Houston Owl
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RE: OT - Sports Wagering is on the Way
I was in San Antonio last weekend for the UTSA series and made the short trip to Retama Park to bet on the Kentucky Derby. There was some activity because of the simulcasting, but the horse racing/horse breeding industry in Texas is dying because the Louisiana and Oklahoma tracks have casinos and can offer much higher purses. There is virtually no thoroughbred racing in Texas.
I'm sure there is a lot of lobbying money against casinos in Texas from both conservatives who oppose gambling and from casino operations in other states (Louisiana, Oklahoma and Nevada) who want to maintain a hold on the Texas gambling revenue. Based on that, I can't see much happening in the near future.
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05-14-2018 05:18 PM |
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texowl2
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RE: OT - Sports Wagering is on the Way
Tillman will be all for it. Great way to solve state budget issues and kill the bookies all at once
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05-14-2018 10:51 PM |
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Seventyniner
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RE: OT - Sports Wagering is on the Way
To me it always seemed quite hypocritical to allow lotteries and not casino gambling.
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05-15-2018 07:25 AM |
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Houston Owl
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RE: OT - Sports Wagering is on the Way
Believe it or not, listening yesterday to SXM 204 (LVSIN) there is a possibility that certain Mississippi casinos may be up and running with sports gaming as early as next week...think of legally betting on the results of the C-USA baseball tourney...my reaction is that this is a bad situation.
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05-15-2018 08:47 AM |
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gsloth
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RE: OT - Sports Wagering is on the Way
What are Mississippi's rules? I believe I read that, in New Jersey's case, they are barring betting on college teams based in NJ or playing in NJ, and a few other cases.
Quote:...and a prohibition on bets related to certain types of games, including college games played in New Jersey and games played by New Jersey colleges and universities.
source: https://www.si.com/more-sports/2018/05/1...g-analysis
That would seem to make logical sense for a lot of states to follow (though, like in the NYC metro area, it wouldn't prevent someone from trying to fix St. John's games, as an example). That's why I ask what Mississippi is ready to pass.
I did find this, from an interview and review about Mississippi's preparations, and the betting could only be done from the casino floor, as it appears to fit under current regulations, if the operator already had a sports book operation. Online and other betting would have to wait for new regulations, and casinos that would need to partner with another sports betting agency to help set things would also probably have to wait for those agencies to get licensed in the state. But someone like MGM, because they already have a sports book operation, would be able to get up and running pretty fast.
For a fuller discussion, see this: https://www.legalsportsreport.com/19163/...tor-state/
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05-15-2018 10:45 AM |
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Tomball Owl
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RE: OT - Sports Wagering is on the Way
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05-15-2018 02:08 PM |
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