Sports gambling

Minnesota's plan for sports betting after Supreme Court gives go-ahead - Story, KMSP

ST. PAUL, Minn. (KMSP) - For the last 26 years, sports gambling has been mostly limited to Nevada and the bright marquees of Las Vegas. Now, the Supreme Court is giving individual states the green light to enter the industry. The Supreme Court ruled 6-3 to strike down the Professional and Amateur Sports Protection Act on Monday. The move allows any state to legalize and regulate sports gambling, including Minnesota. “This is like Sunday liquor sales on cocaine,” Rep. Pat Garofalo said. Garofalo is pushing for sports gambling legalization and is drafting a bill for the Legislature to discuss to make gambling on sporting events in Minnesota a reality. “The public is really,...

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Ohio lawmakers make bids to legalize sports betting - The Blade

COLUMBUS — Two weeks after the U.S. Supreme Court brought down the 26-year-old federal wall between states and sports betting, legislation and ballot issues have already been proposed to legalize and regulate a new industry potentially worth billions in Ohio. But where should Ohioans place those bets on the outcomes and point spreads of football, basketball, and other professional and college games? Who would regulate this newly legal type of gambling, how much would it be taxed, and who would benefit? One approach would keep it within the walls of where major gambling already takes place — at the Las Vegas-style casinos in Toledo, Cleveland, Columbus, and Cincinnati and seven...

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Market for illegal sports betting in US is not really a $150 billion business

The Supreme Court on May 14 struck down a 25-year federal ban on sports betting outside of Nevada. The big question on many minds – particular state officials and companies like MGM Resorts and DraftKings looking to cash in – is how much money is at stake. Many of the articles on the decision cite the same eye-popping figure: Americans wager an estimated US$150 billion in illegal sports bets every year. As a macro economist, I am used to dealing with big numbers. Still, $150 billion struck me as much too high. To put it in perspective, that’s 14 times more than Americans spend going to the movies, twice as much as they put into grooming and feeding their pets and about the same as they pay...

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Legalizing online sports betting means a new need for security, CSO Online

On May 14, 2018, the Supreme Court of the United States (SCOTUS) ruled in favor of New Jersey’s case to repeal the Professional and Amateur Sports Protection Act (PASPA), thereby paving the way towards legalizing online sports betting in the U.S. PASPA prohibited all states other than those with existing legislation—Nevada, Oregon, Delaware, and Montana—from legalizing online sports betting. The big business of online sports betting It comes as no surprise that sports gambling is big business. In 2017, Nevada’s Gaming Control board reported a $4.8 billion bet at its sportsbooks. This was a new record high, but legal betting is just the beginning of the story. No one has a definitive number...

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Mobile phones could make sports betting more accessible — and addictive

Mobile phones could make sports betting more accessible — and addictive The gaming research firm Eilers & Krejcik predicts that in states that adopt it, mobile wagering will make up roughly half of the revenue generated by sports betting operators. - Adrian Ma/Marketplace For decades the only place you could legally wager on a basketball or football game was in Nevada. And to do it, you had to go to a casino “sports book”— in essence, a room where bettors sit in cushy seats while watching games on panoramic screens, and giant digital billboards tick out numbers to help them calculate how much they stand to win, or lose, on each match-up. Kelly Stewart, a professional sports bettor, has...

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The Details on How Sports Gambling Died this Year in Connecticut - NBC Connecticut

A framework for what sports betting would look like was presented to lawmakers over a month ago based on Gov. Dannel Malloy’s administration’s discussions with the state’s two casino-operating tribes, the Mashantucket Pequot and Mohegan Tribal Nations. The agreement included a new structure for sports wagering in the state which would include a combination of reservation based wagering and commercial sites in existing locations where wagers are already being placed on horse racing. There were also specific provisions being discussed on how to handle wagers on UConn and other Connecticut state universities’ sporting events. No agreement was ever struck between Malloy...

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Sports Betting Just Became Legal. Naturally, Chuck Schumer Now Wants to Regulate It. - Hit Run :

File Photo/Roll Call/Newscom Since the U.S. Supreme Court struck down near-prohibition on sports betting, there has not been any compelling evidence that letting Americans bet on sports poses any risk to the integrity of athletic competitions or to the people placing wagers on them. That lack of evidence is apparently not going to stop Senate Democratic Leader Chuck Schumer (D-N.Y.) from trying to bring sports betting back under the federal government's yoke. Citing vague concerns about "integrity," Schumer on Wednesday outlined a proposal that would regulate sports betting at the federal level, taking key policy decisions out of state lawmakers' hands and delivering what could be a huge...

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As Ohio considers legalizing sports betting, regulator says most games are on black market ,

COLUMBUS, Ohio - All over the United States people are betting on sports, but they're largely in the black market, a state casino regulator said Wednesday. Schuler said his agency doesn't have a position on how or whether sports betting should be legalized, but he is willing to provide lawmakers research and expertise. He has been with the commission since around the time it was created in 2011. "The American Gaming Association estimates only 3 percent of the wagers that were placed on Super Bowl LII, 3 percent, were done legally in Las Vegas," Schuler said. "The rest were placed illegally around the United States and frankly out of the country." Online sports betting website Bovada, which...

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Clock is ticking on sports betting; will Pennsylvania be ready for opening kickoffs?,

Pennsylvania's top state gambling regulator told PennLive Wednesday that the state's casinos should be taking legal bets on games in the upcoming football season. To the state's professional gaming regulators, getting this right is more important than getting it first. Even if that's your Super Bowl champion Philadelphia Eagles playing a stand-alone, prime time game on Sept. 6 to kick off the NFL season. Or Penn State - Pitt is two days later. "We do think that wagering on football this coming season in all likelihood will occur," Pennsylvania Gaming Control Board Executive Director Kevin O'Toole told PennLive Wednesday. "But whether it's September, October or November is hard to say." The...

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Hollywood Casino Launches West Virginia Sports Betting Ahead of Schedule

Sports betting is officially live in West Virginia! Hollywood Casino at Charles Town Races took the first bet on Thursday morning, a couple days earlier than planned for the launch of WV sports betting. Staff from the WV Lottery Commission were first to divulge the good news on Twitter. https://twitter.com/danyeller714/status/1035184276394921985 That ticket makes West Virginia the fifth state with legalized sports betting and the fourth to launch since May. Former NFL player Joe Theismann will be at the Hollywood sportsbook this weekend for the grand opening ceremonies. WV sports betting goes live at Hollywood The inaugural bet was placed before noon on Thursday, and the team listed on the...

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