Supreme Court Declares PASPA Unconstitional (Sports Betting Is On The Way)

[deacsrus]

Is there going to be a model for interstate better? For example, if PA and WV both have legal betting through an app, would it be legal for PA residents to bet in WV and vice versa?

Yes, that will be permissible. The government won at every stage of appeal except the Supreme Court. The won it in the lower courts based on just what you cited above--interstate commerce. Since betting is interstate commerce, the Federal government has exclusive jurisdiction over what States can operate this business. The SCOTUS used the old State's rights argument(they call it something different now) that the federal government has no right to tell any State whether or not they can have gambling. It is the State's decision. REVERSED.

 

[deacsrus]

Of course, you can thank(or not) former governor Christie(NJ) for the law change. He was instrumental in passing the law which allowed this type of betting in NJ. The lawsuit was then filed With Christie as one of the Parties and the rest is now recent history.

 

[RJKarl]

The states who are likely to pass it quickly are estimating the vig at 8-10%. Of course, they call it a fee. Of course, they will also charge a gaming license fee which can be astronomic. I saw where Pennsylyvania was talking about a 10,000,000 fee. Yeah, I know that's 10 million.

I was talking about laying $111 to get back $210.

Are you talking about 8-10% ABOVE laying $110 to win $100? If you are, virtually no one in states that have bookies would bet with the state.

The reason states can charge huge sales tax on pot is it's a retail item. Betting isn't.

 

[deacsrus]

I was talking about laying $111 to get back $210.

Are you talking about 8-10% ABOVE laying $110 to win $100? If you are, virtually no one in states that have bookies would bet with the state.

The reason states can charge huge sales tax on pot is it's a retail item. Betting isn't.

Good point. I thought about this too. This 8-10% will be the State's cut. The gaming business has to make their fee. I'm sure their will be a lot of negotiating on this issue.

 

[PhDeac]

Yes, that will be permissible. The government won at every stage of appeal except the Supreme Court. The won it in the lower courts based on just what you cited above--interstate commerce. Since betting is interstate commerce, the Federal government has exclusive jurisdiction over what States can operate this business. The SCOTUS used the old State's rights argument(they call it something different now) that the federal government has no right to tell any State whether or not they can have gambling. It is the State's decision. REVERSED.

Thanks. So states late to the table may be screwed. NV can start this up now. I just heard NJ will be ready in 4 weeks.

 

[deacsrus]

Thanks. So states late to the table may be screwed. NV can start this up now. I just heard NJ will be ready in 4 weeks.

Yep. First in, and the proceeds will roll. NJ won't have to share with anyone but Nevada.

 

[RJKarl]

NJ also has casinos and OTB locations. Monmouth Racetrack had already partnered with sportsbook company William Hill to build a facility at the track. Once the law passes, the first bets there will be taken within about two weeks.

AC casinos have probably already designed the spaces for their sportsbooks.

You can actually do some casino games online from AC casinos now.

NJ will not have to put anything on top of the normal taxes that exist that non-casino states may try to do. They have the infrastructure and the customers.

It will be much more profitable there than in places like NC. Owners of sportsbooks in other states will have to build them around other activities to make money.

Casino states make money off of the total profits of the casinos, hotel taxes and food.

Sportsbooks in new states will not make much money if there a fee on top of making the bets.

 

[Biff Tannen]

Of course, you can thank(or not) former governor Christie(NJ) for the law change. He was instrumental in passing the law which allowed this type of betting in NJ. The lawsuit was then filed With Christie as one of the Parties and the rest is now recent history.

Thank you Chris !

 

[Biff Tannen]

Berger already saying it will take a while for NC to get on board. Hardister, R-Guilford had a bill shot down in committee 7-4 last session to legalize and regulate fantasy sports gaming.

"We just saw that decision yesterday. I haven't had a chance to read it. I'd be surprised if we had the ability to analyze that and make any decisions, one way or the other," said Berger, a Rockingham County Republican. "I think anything we do in that field will take a good bit of discussion and create some noise, I'm sure."

http://www.charlotteobserver.com/news/politics-government/article211195189.html

 

[2&2 Slider To Leyritz]

Thanks, Cooper. Just have Charlotte pass an ordinance allowing public bathroom gambling on dong size and they'll get something figured out real quick.

 

[DeacsATS]

States need to follow the Nevada model where competitive lines are offered, the sports books are generally honest and the State gets a fair share of the "take" from the sports books. If States try to start skimming the vig (and the leagues skim the vig), the vig will rise above 10% which will keep most bettors from leaving wherever they wager these days (off-shore; or with a local guy). Realize that everyone will want to take a piece, but if the legal books don't offer competitive prices to the bettors, very little money will be generated because bettors will stay away. It's hard, but not impossible, to win with a 10% vig, but if the vig rises above that, legal sports books aren't going to be around very long.

I think, over time, you’ll probably see the vig get whittled down a bit. More “competition” and potential for deeper pockets with more scale.

 

[DeacsATS]

Whole lotta people gonna lose a whole lot of money.

I guess that goes without saying, but it’s going to be ugly.

 

[RJKarl]

People will lose money gambling and smaller investors will lose money investing in shops that won't make money.

 

[buckets]

But weed is still illegal according to federal law.

Oh now southern states want to stick to federal laws

 

[Dutch Deacon 65]

We haven't Learned A Thing

I thought that by allowing (Free Enterprise/Fee Enterprise) into college had taught us a lesson-but I guess not. Players and coaches play at the behest of Nike or Adidas, naming rights become corporation rights ( The Yum Center; and how many BB&T fields does one city need ?); one and done plagues major college basketball, etc, etc. I view casinos and much of gambling as a rot on society. I see little or no value to this warped decision.

 

[Deaconblue]

Delaware will be on this soon as well. They were trying to devise some work arounds before the decision.

 

[PhDeac]

So are there any restrictions on who can run a sports betting operation? Can NJ make the laws so that NJ resident legally take bets?

 

[Biff Tannen]

I would expect you will need to get a license and have tons of cash on hand to cover bets. So, no your neighbor won't be able to legally take bets from the guys who have organized their own betting club and the state doesn't have any real interest in scaling laws to that type of operation.

 

[Pilchard]

I would expect you will need to get a license and have tons of cash on hand to cover bets. So, no your neighbor won't be able to legally take bets from the guys who have organized their own betting club and the state doesn't have any real interest in scaling laws to that type of operation.

Every state will have its own rules, but any entity that wants to operate a sports book will need to pay the state for a sports book license (which will be very expensive), and all applicants will need to demonstrate the liquidity (tons of cash) to pay out losing bets. In most instances, only large corporations will be able to act as a legal sports book. Individuals and small businesses (local sports bars) will not be taking action.

 

[Biff Tannen]

So, you and I agree.