OT - Sports Gambling Legal now
Supreme Court 7-2 strikes down law bannign sports gambling. Congress will decide new laws and if they choose not to, then states can set their own laws.
https://www.si.com/college-basketball/2018/05/14/new-jersey-betting-supreme-court
Might as well have it generating revenues for USA...instead of Costa Rica.
I'm glad it'll be legal, the ban was pretty dumb, but I can think of 2,007 reasons that actually betting on college football would be a bad idea.
The opinion is here:
The legalization of sports gambling requires an important policy choice, but the choice is not ours to make. Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own. Our job is to interpret the law Congress has enacted and decide whether it is consistent with the Constitution. PASPA is not. PASPA “regulate[s] state governments’ regulation” of their citizens, New York, 505 U. S., at 166. The Constitution gives Congress no such power. The judgment of the Third Circuit is reversed.
who wants to make book on that idea? i'll give you odds on how long it will take....
In particular, online poker?
Onliine gambling is already legal in some states. Similar to what is likely to happen with sports wagering, online wagering is at the discretion of state laws.
The Professional and Amateur Sports Protection Act (PASPA) makes it unlawful for a State or its subdivisions “to sponsor, operate, advertise, promote, license, or authorize by law or compact . . . a lottery, sweepstakes, or other betting, gambling, or wagering scheme based . . . on” competitive sporting events.
Justice Thomas has an interesting concurring opinion and kind of trashes the severability aspect of this (which could lead down the path you are thinking).However since that is already up to the states, and some states already allow it, I don't see the SC wanting to get involved in that at any point soon.
Interestingly enough, the way the court sums up the pros and cons of the subject (not the basis for their decisions, albeit informative how the "right" decision might vary over decades as public opinion shifts), it indirectly makes the argument that general gambling such as online poker, provide less impact on society (as it doesn't corrupt the athletes).
Supporters argue that legalization will produce revenue for the States and critically weaken illegal sports betting operations, which are often run by organized crime. Opponents contend that legalizing sports gambling will hook the young on gambling, encourage people of modest means to squander their savings and earnings, and corrupt professional and college sports.
Like Prohibition and driving over 55 mph, sports gambling was always pretty much "legal".
It doesn't really matter much what law they write about it.
It is out in the open now. Not just the gambling. Prepare for it to flood sports advertising like daily fantasy sports did with DraftKings. Will there be live gambling in stadium? Where will the boundaries be?
Street bookies will be collecting live bets in the stands like a scorpion fight in Marrakesh.
People may have still drank alcohol during Prohibition, but its end had transformative effects upon the alcohol industry itself (i.e. there actually was in fact an "industry" again) which in turn reshaped how and what Americans drank, where and when they drank, who they drank with, etc. Ending the ban on sports gambling will have similar effects.
According to my grandfather, his dad made more money in three years running the detroit river for booze from his sources in Canada, than he did in 20 with his own bar in Detroit, playing by the rules, once prohibition ended.
So let's be clear tlhere's industry and there's legal industry that you can tax.
Well, if Michigan legalizes it, all that it now means is that I can lose actual money on the Byzantine system by which my mind seems to like to make bets.
As for the news itself, this is huge indeed.
welp... there goes all my monies
And the bank doesn’t look at me weird when I cash it
If you look like your avatar, I can think of a different reason they look at you weird...
Racism?
when i shave, i look normal with a beard
Have already spent most of my money on women and booze. Great to have another legal vice as a third option to blow my cash...
When I was your age, I spent 80% of my money on gambling, women, and liqueur.
I pissed away the other 20%.
How bad does this hurt Vegas? Or does it?
If people are able to legally gamble on sports wherever, they won't have to put NC picks or season Over/Unders in while in Vegas. But I could also see it leading to more people being addicted to gambling on sports, leading to them betting more while their visiting.
is estimated that Americans make $150 billion in sports bets annually. Only $5 billion of that is in Nevada. The remainder is online, overseas or through bookies. Most of it is illegal.
Will hurt the online sites and those shady dudes taking book more than it will hurt Nevada...
Both are slightly up as of a few minutes ago.
I think after you get over the initial "this is BAD for Vegas!" hot take, you realize that these resort companies now operate casinos from coast to coast and each of them is now going to open a sports book.
If you think MGM and Ceasars are Vegas, this was GOOD for Vegas.
I would suspect Vegas welcomes this, as it is the only place with the infrastructure in place to handle expanded betting. They are ahead of their hypothetical competitiors in that sense.
So Pete Rose can now go in the Hall of Fame, right?
HAHAHAHAHA!!!! Nice try Pete! Should have been a womanizing racist instead, then you would have made it in.
damn time. Between online gambling and bookies, pretty much everyone was already acting illegally.
That PASPA law had "unconstitutional" written all over it! The Supreme Court vote was 7-2 - will love reading the dissenting opinion by Ruth Bader Ginsberg/Sonia Sotomayer...
They basically just said we shouldn't have severed the entire PASPA simply because parts of it were unconstitutional, and then failed to go in to detail in response as to why the court argued to do so.
Always thought I could use less time investment in sports, and the investment I put in is pretty emotional. Not a fan of putting in a financial investment on top of it. Liking sports I'd otherwise not like only because I have money into it feels empty in the end, to me at least.
Glad it's legal now though. People are going to do it anyways, might as well tax it and have better roads/schools for it.
it wouldn't. Your wallet, however, would feel empty in the end.
I assume it jumped a lot
I'm going to guess that gambling was not an outlier and congress probably used this same approach to outlaw other types of things.
Any of our other legal eagles or politics folks know which other industries are this morning on the phones with their lawyers?
This changes my life in no way shape or form as I lack the disposable income to risk betting on sports.
But, holy crap can I see this causing a problem for a few people I know unless they are a lot better at it in the future than they have been when betting just with their mouths.
*Warning* Unpopular opinion here. I hate this if it passes.
There are too many families out there that could be impacted by someone with a gambling problem and it causing financial ruin. I know the argument around casinoes, but sports viewing is much more popular and people tend to have addictive personalities.
When Joe in Alabama is watching the National Championship game and puts $2,000 on Bama -4 because, Bama. Their 3 point loss causes Joe to lose his bet and thus prevent the money going towards other items.
I know people should have the freedom of choice, but I do fear irrational decisions around sports betting leading to financial difficulties for many parties.
but people have moral agency! We don' need the dern gervermernt terlling erse whert terd der!! If people gamble and ruin their lives, it's ther person's fault! Personal responsibility! If we can't trust our people to make good decisions on their own then what kind of country are we?!? This is Amurrrrrrrrrica! I'm gonna go eat some oatmeal.