What's your over/under on sports gambling in states outside of Nevada?

[StackinGreen]

Of course I'm talking single game wagers. The NJ hearing is coming up again next week I think.

The dominoes will likely fall once just one state can get around the clearly unconstitutional PASPA ...

2 years?

[SBR Natalie]

Good question, you may find this SBR report of interest:

Pennsylvania Takes Major Step toward Legalizing Sports Betting

[StackinGreen]

Thanks Natalie. The dominoes will fall, it's just a matter of when. Michigan seems a likely state instituter of sports betting given their funding issues and already having land based casinos in Detroit.

The irony here is that at this point, Vegas themselves doesn't care as much about the protection by PAPSA, because I think they even see the writing on the wall --- and they have the infrastructure to help instantly set up books or outright run them in other states for a cut.

It will be interesting to see how the story develops. My take is that within 2 years there is a big breakthrough.

[jjgold]

Vegas can care less

They make pennies off sports betting compared to bottom line

Every Vegas sharp has offshore accounts that that just shows you offshore ahead of curve still

[daneblazer]

1.5

[StackinGreen]

Indeed, I could see it sooner. I'd put UNDER at -130. Let's hope.

[INVEGA MAN]

maybe 20 years from now

[DOM_Toretto]

4

Nevada & Deleware already have legal sports books

Oregon & Montana have the right to

Everyone else banned

[jjgold]

iF nj GOES DOWN ITS ALL OVER

[StackinGreen]

4

Nevada & Deleware already have legal sports books

Oregon & Montana have the right to

Everyone else banned

The right to single game betting?

[53 defense]

Delaware is "Restricted" wagering
only on parlay / teaser/ super teaser/ and reverse teaser cards of no less than 3 picks per.....
Only on NFL games

Cant go in and put a dime on the Dolphins....

Vegas only place for that in US ......

Correct me if im wrong............

[jjgold]

Vegas might be the most overrated sports betting facility in world

NJ will suck if they get it because only allowed at racetracks

People are not going to drive 40 miles to bet $50

[CanuckG]

5 years min.

[GzaTheGenius]

Vegas might be the most overrated sports betting facility in world

NJ will suck if they get it because only allowed at racetracks

People are not going to drive 40 miles to bet $50

Race tracks and casinos

Soo AC, monmouth, freehold, meadowlands will all be golden.

Plus they have been trYing to get a casino in North Jersey to compete with PA and yonkers, this would only further help their cause I think

[jjgold]

It would help

[StackinGreen]

JJ, are you saying their limits will be very low?

I want it just so it makes locals that much more competitive.

[DOM_Toretto]

The right to single game betting?

Yes, I believe the law is PAPSA which prohibits 46 states from sport betting, those 4 states named already had it at the time and are federally allowed to have legal sports betting. The individual state govs then decide to participate or not.

NJ Gov Christie fought Supreme Court for NJ sports betting and got shut down a couple times, they might still be in the appeals process

[StackinGreen]

Only NV can have single game though --- BS

[megamillionslose]

Retired bookmaker Roxborough dropped the odds to 4-1 in 2017

Pretty sure the few states who already had the foresight to introduce sports betting bills will be ready to roll in '17 once NJ finally wins their appeal later this year. Unfortunately there are other big issues to debate once finally approved.

NJ sports bookies subject to 2% federal excise tax on total handle (not the .025 in NV). That's 44% of the profit on 11/10 football bets. What will other states demand?

Nevada sports books contribute just $16 mil to state coffers in 2015. Sports betting hardly a panacea for state budgets. No true incentive for arguing legal sports wagering will make states a ton of extra money.

Some bookies will be looking to milk their fish/clients for the max, they charge TWICE the odds of their competitors. E.g. 20 cent lines instead of 10 cent lines. Pinnacle Sports will take a $20,000 wager from ANYBODY on some games. You CANNOT bet $5,000 on it at ANY Las Vegas casino unless you are a known whale who has dropped 5x that amount on BJ or craps. Licensed state bookies will probably be the same as those from NV as bean counters have taken over while independent bookies are virtually extinct. Win too much & you will be persona non grata

[jjgold]

Pretty sure the few states who already had the foresight to introduce sports betting bills will be ready to roll in '17 once NJ finally wins their appeal later this year. Unfortunately there are other big issues to debate once finally approved.

NJ sports bookies subject to 2% federal excise tax on total handle (not the .025 in NV). That's 44% of the profit on 11/10 football bets. What will other states demand?

Nevada sports books contribute just $16 mil to state coffers in 2015. Sports betting hardly a panacea for state budgets. No true incentive for arguing legal sports wagering will make states a ton of extra money.

Some bookies will be looking to milk their fish/clients for the max, they charge TWICE the odds of their competitors. E.g. 20 cent lines instead of 10 cent lines. Pinnacle Sports will take a $20,000 wager from ANYBODY on some games. You CANNOT bet $5,000 on it at ANY Las Vegas casino unless you are a known whale who has dropped 5x that amount on BJ or craps. Licensed state bookies will probably be the same as those from NV as bean counters have taken over while independent bookies are virtually extinct. Win too much & you will be persona non grata

The locals will always strive meaning offshore credit

[StackinGreen]

Everything megamillions days is true above, I have experienced it.

Still, the handle is so HUGE the numbers might work out.

I always laughed when the Venetian would balk on $1500 bets when in Vegas ... I was shocked.

[StackinGreen]

The locals will always strive meaning offshore credit

JJ doesn't it mean we get better local prices at no tax?