- Joined
- Jan 3, 2013
- Messages
- 24,936
So the QB can make 50 mill per year and the back end of the roster will still be playing at league minimum?
Get ready for the gambling floodgates to open for the NFL
- Thread starter Prime Time
- Start date
-
To unlock all of features of Rams On Demand please take a brief moment to register. Registering is not only quick and easy, it also allows you access to additional features such as live chat, private messaging, and a host of other apps exclusive to Rams On Demand.
- Joined
- Jun 23, 2010
- Messages
- 18,393
- Name
- Haole
LOL
No... so teams can have more than one $20 million player. Like a few on both sides of the ball would be very nice.
- Joined
- Jan 3, 2013
- Messages
- 24,936
I think there should be a rule that every team should have to pay their best DT/DE 25 mill, then the salary cap kicks in Lol
- Joined
- Jun 23, 2010
- Messages
- 18,393
- Name
- Haole
- Joined
- Apr 18, 2014
- Messages
- 18,666
- Name
- Dave
:rolllaugh::shocking::headexplosion:
LesBaker
Mr. Savant
- Joined
- Aug 23, 2012
- Messages
- 17,460
- Name
- Les
It's going to be interesting to see how this unfolds especially in states with casinos.
IMO the states will be greedy pigs. Although some of them won't allow it I'm sure.
Something tells me this will be a hard deal to broker because currently not a single casino pays a dime to any sports leagues that I know of anyway.
So a league asking for money is easily rebuked. And the NFL taking a hard line stance about gambling on it's games will look like greedy fucks if they will now allow it and want in on the action.
FIFY.
>>>>>>>>>>>>>>>>>>>>>>>>>>>> Side note
The Seminole Tribe has 5 casinos here in South Florida and they have paid 1BIL to the state as part of the deal to build casinos. I'm sure they will work on a deal for sports betting and cut the state in. And part of it will include opening new casinos since the deal capped the number of locations from what I understand.
- Joined
- Jan 3, 2013
- Messages
- 24,936
- Joined
- Jan 3, 2013
- Messages
- 24,936
If that was the league mentality, he'd be signed already. No matter how high they raise the cap, the top 5-10% will get the majority of the dough
nighttrain
Legend
- Joined
- Jan 12, 2013
- Messages
- 9,225
me and my partner were books in San Clemente in 1977, the year Seattle Slew won the triple crown and Denver got wacked in the SB. it's a hard life, have to babysit your customers at times, gambling can be a harsh mistress for the gambler, loved horse racing and football, was a great time for over 10 years
train
ps Books give credit and you dont have to leave your job, state cant do this
- Joined
- Feb 9, 2014
- Messages
- 20,922
- Name
- Peter
- Thread Starter Thread Starter
- #34
https://www.si.com/nfl/2018/05/15/nfl-sports-betting-gambling-supreme-court-new-jersey
What Will Betting on the NFL Look Like Now? U.K. Bookmakers and Gamblers Give Us an Idea
By CONOR ORR
If you woke up this morning in the United Kingdom as an NFL fan, your favorite (favourite?) betting app was already peppered with interesting—and legal—prop bets for the upcoming 2018 season.
For 20-to-1 odds, you could take Josh Rosen to win the NFL’s rookie of the year and the Cardinals to win the NFC West on Ladbrokes.
For 9-to-1 odds, you could take J.J. Watt to win the NFL’s defensive player of the year award and the Texans to win the AFC South.
And for those who may have had a FourLoko with breakfast, you could have put your money on the 14-to-1 odds that the Browns win the AFC North and Baker Mayfield wins offensive rookie of the year.
Monday morning’s landmark Supreme Court decision to legalize sports betting at racetracks and casinos in New Jersey may take a little while to infiltrate the NFL on a day-to-day basis in the United States. The league will wait on congress to establish a “core regulatory framework” for gambling on sports.
Players unions across all sports must come together on countless issues related to safety, integrity and publicity rights, as the NFLPA noted. And, most importantly, every rich person in America with political influence must find a way to make this pad their bank account. That takes time.
But before long, life will be changing for those who once clung to daily fantasy sports to feed their desire for quick, entertaining payouts.
How, exactly? For some idea of what the daily betting life of an NFL fan could become, we contacted several bookmakers and gamblers in London, where an interested party could stroll into one of the city’s 1,000 off-site betting locations to wager on just about anything.
“It’s not something that should have ever really been shunned by the leagues,” Stephen Baumohl, the co-founder of the American sport-focused U.K. sportsbook Redzonesports.bet said. “They’ve obviously shown a willingness lately to embrace it more, and that’s going to continue. They’re going to look to monetize it as much as they can.”
While Baumohl said a majority of his customer base is made up of experienced betters who tend to favor the traditional avenues of gambling—over/unders, point totals and spreads—the push will be on to attract the next generation. That will define the new wave of sports betting in New Jersey and across the country.
According to one former Ladbrokes employee (who wished to remain anonymous), “it's always the £5-20 betters that companies create promotions for.”
“With all sports, the people who are betting their £5-£20 will be looking at the bigger prices to maximize profit and have more fun. They'll see their achievement bigger for hitting a fun 100/1 shot and winning £2000.”
This means creative props and in-game wagers. Will the Browns score more than 20 points in the second half? Will Odell Beckham catch a touchdown in the third quarter?
“A new introduction here which has risen in popularity is ‘make your own bet,’” the former Ladbrokes employee said. “Each company calls it something different like ‘request a bet’ where you can actually contact the bookie via social media and ask them for what you want and they give you a price and a link to place the bet. So I can say anything like Player X to score 2 touchdowns, Player Y 500+ yards, Game to go to overtime.”
Imagine a world where even fantasy football becomes niche—the horse racing of our time. Sports books are smart enough to know that their core audience, entrenched in the analytics of spread distribution, weather impact studies and player trends, is always going to be there.
It’s about nabbing the business executive in the company suite looking to make the back end of a 41–7 blowout worth his while. Or, the Instagram-obsessed millennial who lives for tailgate pictures but not much else once the stadium opens.
“Gambling is a very sophisticated market and most of the people who bet on the U.K. are sophisticated and educated. Which so much competition, it’s always the case to push new markets and try new things. With the American sports, that’s something we’ve definitely tried to do,” Baumohl said. “American sports are ignored over here to an extent, so we’ve been able to put up a lot of prop bets, special bets and in-play bets which, over here, are huge.”
The NFL, which has breaks at the end of every quarter, television timeouts, a lengthy halftime and other myriad stoppages that bloat the final watch time, is absolutely perfect for this type of infusion. It’s almost as if the game was made just for this.
What Will Betting on the NFL Look Like Now? U.K. Bookmakers and Gamblers Give Us an Idea
By CONOR ORR
If you woke up this morning in the United Kingdom as an NFL fan, your favorite (favourite?) betting app was already peppered with interesting—and legal—prop bets for the upcoming 2018 season.
For 20-to-1 odds, you could take Josh Rosen to win the NFL’s rookie of the year and the Cardinals to win the NFC West on Ladbrokes.
For 9-to-1 odds, you could take J.J. Watt to win the NFL’s defensive player of the year award and the Texans to win the AFC South.
And for those who may have had a FourLoko with breakfast, you could have put your money on the 14-to-1 odds that the Browns win the AFC North and Baker Mayfield wins offensive rookie of the year.
Monday morning’s landmark Supreme Court decision to legalize sports betting at racetracks and casinos in New Jersey may take a little while to infiltrate the NFL on a day-to-day basis in the United States. The league will wait on congress to establish a “core regulatory framework” for gambling on sports.
Players unions across all sports must come together on countless issues related to safety, integrity and publicity rights, as the NFLPA noted. And, most importantly, every rich person in America with political influence must find a way to make this pad their bank account. That takes time.
But before long, life will be changing for those who once clung to daily fantasy sports to feed their desire for quick, entertaining payouts.
How, exactly? For some idea of what the daily betting life of an NFL fan could become, we contacted several bookmakers and gamblers in London, where an interested party could stroll into one of the city’s 1,000 off-site betting locations to wager on just about anything.
“It’s not something that should have ever really been shunned by the leagues,” Stephen Baumohl, the co-founder of the American sport-focused U.K. sportsbook Redzonesports.bet said. “They’ve obviously shown a willingness lately to embrace it more, and that’s going to continue. They’re going to look to monetize it as much as they can.”
While Baumohl said a majority of his customer base is made up of experienced betters who tend to favor the traditional avenues of gambling—over/unders, point totals and spreads—the push will be on to attract the next generation. That will define the new wave of sports betting in New Jersey and across the country.
According to one former Ladbrokes employee (who wished to remain anonymous), “it's always the £5-20 betters that companies create promotions for.”
“With all sports, the people who are betting their £5-£20 will be looking at the bigger prices to maximize profit and have more fun. They'll see their achievement bigger for hitting a fun 100/1 shot and winning £2000.”
This means creative props and in-game wagers. Will the Browns score more than 20 points in the second half? Will Odell Beckham catch a touchdown in the third quarter?
“A new introduction here which has risen in popularity is ‘make your own bet,’” the former Ladbrokes employee said. “Each company calls it something different like ‘request a bet’ where you can actually contact the bookie via social media and ask them for what you want and they give you a price and a link to place the bet. So I can say anything like Player X to score 2 touchdowns, Player Y 500+ yards, Game to go to overtime.”
Imagine a world where even fantasy football becomes niche—the horse racing of our time. Sports books are smart enough to know that their core audience, entrenched in the analytics of spread distribution, weather impact studies and player trends, is always going to be there.
It’s about nabbing the business executive in the company suite looking to make the back end of a 41–7 blowout worth his while. Or, the Instagram-obsessed millennial who lives for tailgate pictures but not much else once the stadium opens.
“Gambling is a very sophisticated market and most of the people who bet on the U.K. are sophisticated and educated. Which so much competition, it’s always the case to push new markets and try new things. With the American sports, that’s something we’ve definitely tried to do,” Baumohl said. “American sports are ignored over here to an extent, so we’ve been able to put up a lot of prop bets, special bets and in-play bets which, over here, are huge.”
The NFL, which has breaks at the end of every quarter, television timeouts, a lengthy halftime and other myriad stoppages that bloat the final watch time, is absolutely perfect for this type of infusion. It’s almost as if the game was made just for this.
- Joined
- Feb 9, 2014
- Messages
- 20,922
- Name
- Peter
- Thread Starter Thread Starter
- #35
https://www.si.com/nfl/2018/05/14/legalized-sports-gambling-betting-nfl
What the Supreme Court's Decision to Legalize Sports Betting Could Mean for the NFL
By ALBERT BREER
At the NFL’s annual meeting back in March, Giants owner John Mara, whose family is in its 10th decade of NFL ownership, was careful when discussing the breadth of what could be coming with the legalization of sports gambling. But he didn’t quibble with the significance of what was happening.
“We’re having discussions that we’ve never had before,” Mara told me in Orlando.
The Supreme Court’s monumental decision on Monday is why. The panel ruled by a 7–2 vote in favor of New Jersey to overturn the long-standing federal ban on sports gambling (only the state of Nevada is exempt), which puts the decision on whether to legalize it in the hands of each individual state. And if most states’ willingness to allow casino construction is any indication, there will be some green lights coming.
And what exactly does this mean for the NFL? Well, it’s been more reluctant than other pro sports leagues to embrace what many have seen coming for a long time, even with owners like Dallas’s Jerry Jones and New England’s Robert Kraft investing heavily in daily fantasy sports—seen by many as a first cousin to full-blown betting on NFL games.
But that attitude has changed over the last year. The NFL’s messaging hasn’t just softened on it, but the league has shifted into planning for the new business opportunity that’s about to land in its lap. How? Monetize the hell out of it.
Keep in mind that league-wide gambling may take some time. It’s likely that not all states will immediately legalize sports betting, so NFL might force teams in states that do legalize it to wait to implement initiatives, like in-game prop betting, until it’s legal in every NFL state.
“That’ll create another process,” Chiefs CEO Clark Hunt said. “One thing that was raised to us is you might have some state laws that conflict with federal laws, which will make it really complicated. What the league is trying to do in preparation for it is figure out how to maintain the integrity of the game, because that’s the most important thing on many, many fronts. And so they’re beginning their work on that.”
Also, the NFL will study, but not necessarily follow, the NBA. The NBA has been aggressive on this front, saying it will seek a 1% cut of all basketball-related bets. My guess is that the NFL will see how that goes and then move on it if it becomes a big revenue-generator in basketball. But one owner told me a few weeks ago that the NFL is looking at taking a fee from bets on point spreads and similar odds as a “low-margin business for us.”
Here’s what the NFL is thinking on a few topics right now.
Casinos and sponsorship. Legalized gambling could impact the NFL’s relationships with casinos. One high-ranking Raiders source explained that his team, and others, are sensitive to the possibility of the league taking a significant cut of the money that casinos make, given the chance for partnerships.
As it stands, teams are not allowed to have deals with casinos that have sports books and can’t use the word “casino” in any advertising they sell. Based on what you see overseas, this is one area where the cliché “the floodgates are opening” might be apt.
It’s fair to say a casino with a sports book wouldn’t mind exposure to 80,000 football-crazy people on a weekly basis.
In-game props. This is a subject I hit hard in my March column. Owners believe there’s money to be made in allowing fans in the stands to bet on game situations via apps on their phones, adding to the entertainment value of the in-stadium experience in the same way Premier League teams in the UK have.
At a time when the NFL is having all kinds of issues convincing the public to get off its collective couch and to the stadium, there’s potential for the change here to be transformative.
TV ratings. Same idea applies here—legalized sports gambling introduces new, creative ways to make an NFL Sunday more interactive than ever. The idea of sitting on the couch for 12 hours straight doesn’t appeal to the younger crowd like it once did.
If you can make it more like video game? Maybe that changes things. And maybe it changes the equation in the foreign countries that the NFL is trying to mine too.
Integrity. Yes, we’re going to bring this up, and maybe the most salient point I’ve heard regarding this topic is one Mara raised to me: “Do we want control of the information that’s out there?” Indeed, information is powerful currency in the gambling world. Now should the NFL do more than it already does with injury reports and other game information to ensure that everything is on the same level?
There’s a lot of work to be done and many questions like that which need answering. But given this recent move by the Supreme Court, we know that nothing will ever be the same.
What the Supreme Court's Decision to Legalize Sports Betting Could Mean for the NFL
By ALBERT BREER
At the NFL’s annual meeting back in March, Giants owner John Mara, whose family is in its 10th decade of NFL ownership, was careful when discussing the breadth of what could be coming with the legalization of sports gambling. But he didn’t quibble with the significance of what was happening.
“We’re having discussions that we’ve never had before,” Mara told me in Orlando.
The Supreme Court’s monumental decision on Monday is why. The panel ruled by a 7–2 vote in favor of New Jersey to overturn the long-standing federal ban on sports gambling (only the state of Nevada is exempt), which puts the decision on whether to legalize it in the hands of each individual state. And if most states’ willingness to allow casino construction is any indication, there will be some green lights coming.
And what exactly does this mean for the NFL? Well, it’s been more reluctant than other pro sports leagues to embrace what many have seen coming for a long time, even with owners like Dallas’s Jerry Jones and New England’s Robert Kraft investing heavily in daily fantasy sports—seen by many as a first cousin to full-blown betting on NFL games.
But that attitude has changed over the last year. The NFL’s messaging hasn’t just softened on it, but the league has shifted into planning for the new business opportunity that’s about to land in its lap. How? Monetize the hell out of it.
Keep in mind that league-wide gambling may take some time. It’s likely that not all states will immediately legalize sports betting, so NFL might force teams in states that do legalize it to wait to implement initiatives, like in-game prop betting, until it’s legal in every NFL state.
“That’ll create another process,” Chiefs CEO Clark Hunt said. “One thing that was raised to us is you might have some state laws that conflict with federal laws, which will make it really complicated. What the league is trying to do in preparation for it is figure out how to maintain the integrity of the game, because that’s the most important thing on many, many fronts. And so they’re beginning their work on that.”
Also, the NFL will study, but not necessarily follow, the NBA. The NBA has been aggressive on this front, saying it will seek a 1% cut of all basketball-related bets. My guess is that the NFL will see how that goes and then move on it if it becomes a big revenue-generator in basketball. But one owner told me a few weeks ago that the NFL is looking at taking a fee from bets on point spreads and similar odds as a “low-margin business for us.”
Here’s what the NFL is thinking on a few topics right now.
Casinos and sponsorship. Legalized gambling could impact the NFL’s relationships with casinos. One high-ranking Raiders source explained that his team, and others, are sensitive to the possibility of the league taking a significant cut of the money that casinos make, given the chance for partnerships.
As it stands, teams are not allowed to have deals with casinos that have sports books and can’t use the word “casino” in any advertising they sell. Based on what you see overseas, this is one area where the cliché “the floodgates are opening” might be apt.
It’s fair to say a casino with a sports book wouldn’t mind exposure to 80,000 football-crazy people on a weekly basis.
In-game props. This is a subject I hit hard in my March column. Owners believe there’s money to be made in allowing fans in the stands to bet on game situations via apps on their phones, adding to the entertainment value of the in-stadium experience in the same way Premier League teams in the UK have.
At a time when the NFL is having all kinds of issues convincing the public to get off its collective couch and to the stadium, there’s potential for the change here to be transformative.
TV ratings. Same idea applies here—legalized sports gambling introduces new, creative ways to make an NFL Sunday more interactive than ever. The idea of sitting on the couch for 12 hours straight doesn’t appeal to the younger crowd like it once did.
If you can make it more like video game? Maybe that changes things. And maybe it changes the equation in the foreign countries that the NFL is trying to mine too.
Integrity. Yes, we’re going to bring this up, and maybe the most salient point I’ve heard regarding this topic is one Mara raised to me: “Do we want control of the information that’s out there?” Indeed, information is powerful currency in the gambling world. Now should the NFL do more than it already does with injury reports and other game information to ensure that everything is on the same level?
There’s a lot of work to be done and many questions like that which need answering. But given this recent move by the Supreme Court, we know that nothing will ever be the same.
Elmgrovegnome
Legend
- Joined
- Jan 23, 2013
- Messages
- 23,431
I don't bet much. It takes time to follow teams closely enough to make sound reasons for picking sides. The free pick sites are a 50/50 bet. They give reasons for this team or that but are wrong as much as I am. I used to be decent at it, but last year I didn't bet a dime.
So, this won't affect me in the least, unless the part about Mom and Pop bookies going down is right. I used to play the small stakes tickets for a few bucks a week. If I decide to give it another try, that comfortable option may be gone.
So, this won't affect me in the least, unless the part about Mom and Pop bookies going down is right. I used to play the small stakes tickets for a few bucks a week. If I decide to give it another try, that comfortable option may be gone.
Ram65
Legend
- Joined
- Apr 30, 2015
- Messages
- 9,868
Not what I was thinking here in PA. Casinos get the action and have to pay 10 Million for the sports betting certificate and 34% tax on their profits. There are only 13 casinos in PA. The 10 Million seems really high as does the tax rate. Sounds like they will move slow here and maybe have betting by the NFL playoffs. Heard on the radio a Delaware racetrack could be up and running with in a week while Monmouth NJ racetrack would be around two weeks.
----------------------------------------------------------------------------------
http://www.pennlive.com/news/2018/05/casinos_seem_receptive_to_spor.html
Casino companies are hailing the U.S. Supreme Court's Monday decision to end a federal prohibition on most sports betting.
But if you're in Pennsylvania, don't expect to be able to place a bet on, say, next month's NBA finals or this summer's World Cup soccer tournament.
Pennsylvania Gaming Control Board spokesman Doug Harbach said Monday that even though a 2017 state law gave a standing approval to sports betting when and if the federal prohibitions came off, there is no date certain when sports bets can be taken here.
The board still has to approve regulations governing maximum and minimum bets, how odds and point spreads are set, and whether players should be allowed to make bets on-line.
Then, there's the matter of approving certifications permitting the up to 13 individual casino companies that are eligible to do it.
If you're looking for a relevant parallel, consider this:
When the legislature and then-Gov. Ed Rendell approved the addition of table games to Pennsylvania's slots-only casinos in 2010, it took six months for the games to get rolled out.
We're suggesting then, that sports betting could be available here by college football's bowl season, and/or the NFL playoffs.
As for Week One?
That would require some hustle. The state does plan to use temporary regulations to get things started, and some of the casinos are saying they won't need to make big-time capital investments to do this.
Harbach refused to predict Monday, saying: "Our only timeline will be determined by making sure we get it right to protect the public."
Under the state's structure, established in the massive 2017 gambling expansion bill passed by the Republican-controlled General Assembly and signed into law by Democratic Gov. Tom Wolf, Pennsylvania's sports book will be run by the licensed casino companies.
Most firms signalled a hearty interest in getting into the games as quickly as possible.
"It's exciting news for the consumer, the industry and the states," said Greg Carlin, chief executive of Rush Street Gaming, which operates casinos in both Philadelphia and Pittsburgh.
"In addition to providing sports enthusiasts with a better, safer environment, today's Supreme Court decision will redirect revenue previously lost to the black market and instead generate much needed tax revenue at state and local levels. We look forward to adding sports betting across all our gaming platforms as soon as possible."
Caesars Entertainment, which operates the Harrah's Philadelphia Casino and Racetrack in Chester, also said it will be on board.
The one discordant note was sounded by Pennsylvania-based Penn National Gaming, whose officials complained loudly about the 34 percent tax rate set in the 2017 law on the house's sports bet winnings.
"We haven't made a final determination on whether to pursue what is the highest rate on the planet for sports betting," Penn National spokesman Eric Schippers said Monday.
If Penn National does get in in Pennsylvania, Schippers said, it will "try to do it at the very lowest cost because the state has strangled the goose on this one."
Most industry analysts reached by PennLive Monday, however, said if even one or two casinos gets in the business, it seems hard to imagine any competitors staying out.
It's not that sports betting is such a high profit center.
Based on the experience in Nevada, the one state that's maintained a full-fledged sports betting industry through a grandfather clause in the 1992 federal ban, the house only keeps about 5 percent of the total handle as profit over time.
Sports books can be opened with relatively little capital investment - within an existing sports bar or horse-racing simulcast theater, for example - and might not even require that much additional staff.
That said, it seems hard to see any company ceding to rivals the chance that sports betting gives a casino to appeal to more and different customers.
"They (the casinos) don't want to lose out on that customer that maybe sports betting is very important too," said Colin Mansfield, a gaming industry analyst for Fitch Ratings.
Opinions were also varied Monday about on-line play.
The law as passed gives the Gaming Control Board that option, and industry watchers like Mansfield note it eventually will be the best way for Pennsylvania to maximize its bet.
But operators who have invested intensively in brick-and-mortar sites and have the largest local populations to draw from may resent having to win their business all over again in cyber-space.
There are other variations for the board to consider, said Michael Soll, president of The Innovation Group, a leading gambling industry consultant.
Pennsylvania, which is already working on the roll-out of on-line poker and other casino games, could adopt a phased approach, starting with on-site sports bets and moving to on-line betting later, he noted.
Or it could look to Nevada's rule that only permits sports bets to be placed on-line from the physical confines of that licensee's property.
Other things we think we know at this point:
Don't expect this to be a budget-solver for Pennsylvania.
There is some guesswork here, to be sure, since there is so much unregulated sports betting now.
We do know that participating casino companies will be asked to ante up $10 million to get a sport betting certificate - a one-time windfall of more than $100 million.
As for annual revenue?
The online gambling newsletter Play Pennsylvania suggested Monday that if sports betting here is comparable to the market share it commands in Nevada, $100 million in annual revenue would be a lot for Pennsylvania's casinos.
That kind of profit would only generate $34 million in taxes.
Even if football-mad Pennsylvania exceeds Nevada with the Eagles, Steelers and Penn State, it's hard to see this generating a nine-digit figure for the state year-in, year-out.
Did you say Penn State?
You bet. Betting on professional and college sports is permitted by the state law as written. At the college level, most sports books only do it for major college football and Division I men's college basketball, as a rule.
How old do you have to be?
Just like betting in the casino, the age to play is 21.
Won't this encourage cheating?
Not according to the gambling industry advocates.
Sara Rayme, a spokeswomen for the American Gaming Association, told Pennsylvania lawmakers in 2016 that legal and regulated sports betting makes fixes harder to pull off.
In part, she and others said, that's because there are algorithms that can detect betting irregularities that suggest possible rigging.
"I think bringing it out into the sunshine and being able to see and track when irregularity is happening, at the heart of our industry is regulation," Rayme said then. "We embrace that."
There are other worries, though.
The National Council on Problem Gambling said Monday's ruling triggers the largest potential expansion of gambling in U.S. history, and predicted many more people will develop gambling problems or worsen existing ones unless steps are taken to minimize risks.
It asked that any governmental body or sports league that gets a direct percentage or portion of sports betting revenue "be required to dedicate a portion of those funds to prevent and treat gambling problems."
What's still illegal?
Under the state law as passed last year, any sports bet made or taken outside the purview of the state's licensed casino operators - and where the organizer was keeping profit - would still be a crime.
Generally, office or other pools where all the money bet is returned to players in the form of prizes are permitted under the law, and they would not be affected by this change.
----------------------------------------------------------------------------------
http://www.pennlive.com/news/2018/05/casinos_seem_receptive_to_spor.html
Casino companies are hailing the U.S. Supreme Court's Monday decision to end a federal prohibition on most sports betting.
But if you're in Pennsylvania, don't expect to be able to place a bet on, say, next month's NBA finals or this summer's World Cup soccer tournament.
Pennsylvania Gaming Control Board spokesman Doug Harbach said Monday that even though a 2017 state law gave a standing approval to sports betting when and if the federal prohibitions came off, there is no date certain when sports bets can be taken here.
The board still has to approve regulations governing maximum and minimum bets, how odds and point spreads are set, and whether players should be allowed to make bets on-line.
Then, there's the matter of approving certifications permitting the up to 13 individual casino companies that are eligible to do it.
If you're looking for a relevant parallel, consider this:
When the legislature and then-Gov. Ed Rendell approved the addition of table games to Pennsylvania's slots-only casinos in 2010, it took six months for the games to get rolled out.
We're suggesting then, that sports betting could be available here by college football's bowl season, and/or the NFL playoffs.
As for Week One?
That would require some hustle. The state does plan to use temporary regulations to get things started, and some of the casinos are saying they won't need to make big-time capital investments to do this.
Harbach refused to predict Monday, saying: "Our only timeline will be determined by making sure we get it right to protect the public."
Under the state's structure, established in the massive 2017 gambling expansion bill passed by the Republican-controlled General Assembly and signed into law by Democratic Gov. Tom Wolf, Pennsylvania's sports book will be run by the licensed casino companies.
Most firms signalled a hearty interest in getting into the games as quickly as possible.
"It's exciting news for the consumer, the industry and the states," said Greg Carlin, chief executive of Rush Street Gaming, which operates casinos in both Philadelphia and Pittsburgh.
"In addition to providing sports enthusiasts with a better, safer environment, today's Supreme Court decision will redirect revenue previously lost to the black market and instead generate much needed tax revenue at state and local levels. We look forward to adding sports betting across all our gaming platforms as soon as possible."
Caesars Entertainment, which operates the Harrah's Philadelphia Casino and Racetrack in Chester, also said it will be on board.
The one discordant note was sounded by Pennsylvania-based Penn National Gaming, whose officials complained loudly about the 34 percent tax rate set in the 2017 law on the house's sports bet winnings.
"We haven't made a final determination on whether to pursue what is the highest rate on the planet for sports betting," Penn National spokesman Eric Schippers said Monday.
If Penn National does get in in Pennsylvania, Schippers said, it will "try to do it at the very lowest cost because the state has strangled the goose on this one."
Most industry analysts reached by PennLive Monday, however, said if even one or two casinos gets in the business, it seems hard to imagine any competitors staying out.
It's not that sports betting is such a high profit center.
Based on the experience in Nevada, the one state that's maintained a full-fledged sports betting industry through a grandfather clause in the 1992 federal ban, the house only keeps about 5 percent of the total handle as profit over time.
Sports books can be opened with relatively little capital investment - within an existing sports bar or horse-racing simulcast theater, for example - and might not even require that much additional staff.
That said, it seems hard to see any company ceding to rivals the chance that sports betting gives a casino to appeal to more and different customers.
"They (the casinos) don't want to lose out on that customer that maybe sports betting is very important too," said Colin Mansfield, a gaming industry analyst for Fitch Ratings.
Opinions were also varied Monday about on-line play.
The law as passed gives the Gaming Control Board that option, and industry watchers like Mansfield note it eventually will be the best way for Pennsylvania to maximize its bet.
But operators who have invested intensively in brick-and-mortar sites and have the largest local populations to draw from may resent having to win their business all over again in cyber-space.
There are other variations for the board to consider, said Michael Soll, president of The Innovation Group, a leading gambling industry consultant.
Pennsylvania, which is already working on the roll-out of on-line poker and other casino games, could adopt a phased approach, starting with on-site sports bets and moving to on-line betting later, he noted.
Or it could look to Nevada's rule that only permits sports bets to be placed on-line from the physical confines of that licensee's property.
Other things we think we know at this point:
Don't expect this to be a budget-solver for Pennsylvania.
There is some guesswork here, to be sure, since there is so much unregulated sports betting now.
We do know that participating casino companies will be asked to ante up $10 million to get a sport betting certificate - a one-time windfall of more than $100 million.
As for annual revenue?
The online gambling newsletter Play Pennsylvania suggested Monday that if sports betting here is comparable to the market share it commands in Nevada, $100 million in annual revenue would be a lot for Pennsylvania's casinos.
That kind of profit would only generate $34 million in taxes.
Even if football-mad Pennsylvania exceeds Nevada with the Eagles, Steelers and Penn State, it's hard to see this generating a nine-digit figure for the state year-in, year-out.
Did you say Penn State?
You bet. Betting on professional and college sports is permitted by the state law as written. At the college level, most sports books only do it for major college football and Division I men's college basketball, as a rule.
How old do you have to be?
Just like betting in the casino, the age to play is 21.
Won't this encourage cheating?
Not according to the gambling industry advocates.
Sara Rayme, a spokeswomen for the American Gaming Association, told Pennsylvania lawmakers in 2016 that legal and regulated sports betting makes fixes harder to pull off.
In part, she and others said, that's because there are algorithms that can detect betting irregularities that suggest possible rigging.
"I think bringing it out into the sunshine and being able to see and track when irregularity is happening, at the heart of our industry is regulation," Rayme said then. "We embrace that."
There are other worries, though.
The National Council on Problem Gambling said Monday's ruling triggers the largest potential expansion of gambling in U.S. history, and predicted many more people will develop gambling problems or worsen existing ones unless steps are taken to minimize risks.
It asked that any governmental body or sports league that gets a direct percentage or portion of sports betting revenue "be required to dedicate a portion of those funds to prevent and treat gambling problems."
What's still illegal?
Under the state law as passed last year, any sports bet made or taken outside the purview of the state's licensed casino operators - and where the organizer was keeping profit - would still be a crime.
Generally, office or other pools where all the money bet is returned to players in the form of prizes are permitted under the law, and they would not be affected by this change.
LesBaker
Mr. Savant
- Joined
- Aug 23, 2012
- Messages
- 17,460
- Name
- Les
