I think that if sports gambling is legalized it will be a negative to it.
Imagine for a moment that you had to be in the state of New York, physically, to invest in the stock market. That you couldn't pick up a phone to call your broker, or use a website to buy or sell stocks and mutual funds, because doing so would be a violation of federal law. Instead, you were compelled to invest your money with criminals who ran their own version of the stock market, using the same the south point hotel & casino mechanisms as the NYSE, except with no oversight whatsoever.
If your stock went up, you might -- might -- get paid. If your portfolio took a nosedive, and you failed to meet your margin call, your legs would get broken. And no one within the United States had a problem with this system. Let's not mince words. No one really knows the exact amount, because it's all conducted under the table, with most of the money in the hands of organized crime.
In fact, according interviews with former FBI agents, sports gambling should sports gambling be legalized be organized crime's top moneymaker, followed closely by the loan-sharking activities that haunt losing bettors.
Weekend Bettor, are part of the problem. Most "square" bettors are "homers," betting on the should sports gambling be legalized they follow or the games they watch. For the local, small-time bookie, this can create an unbalanced book.
See, a bookmaker desires an even, split of the money coming in on a game, because he profits mainly from the "vig" taken from each winning bet. A lopsided game can create havoc for the bookie, so he's often forced to "lay off" some of this one-sided action by betting with another bookie.
In the ocean of sports gambling, the small fish feed the medium fish, who in turn feed the larger fish, who are swallowed whole by the sharks. Lurking at the top of this lucky dog casino in shelton chain is organized crime. The mob set up a national lay-off system in the s, connecting bookies in Cincinnati with those in Los Angeles to others in Miami, and so on.
It smoothed out the process, while maximizing the financial return. Today, that system continues to operate by encompassing many online and offshore sports books. And even Phil doesn't realize it. This situation could be remedied easily, by lifting the prohibition on sports gambling. Of the four, only Nevada is allowed to casino inn alpine unrestricted, single-game wagering.
A measure to do so failed in the state legislature. If it hadn't, perhaps today Atlantic City would be the center of sports gambling in the United States rather than Las Vegas. Twenty years later, New Jersey seeks vegas frontier online casino reversal of fortune.
Voters there now favor legal sports gambling and the tax revenues it's certain to create, and they passed a statewide referendum to legalize it in November by nearly a two-thirds majority. By its very name, the Professional and Amateur Sports Protection Act treats the leagues like members of an exotic, endangered species. Is it Congress' job to "protect" sports?
Shouldn't the leagues be responsible for insulating themselves against the dangers of gambling and potential game fixing? In fact, both the federal government and the sports leagues had established several prohibitive measures prior to PASPA. The Wire Act outlawed the use of wire communications among those in the gambling business, unless the transmission is both to and from a state where sports betting is legal.
The Sports Bribery Act made it a federal crime to bribe a player, coach or referee to alter the outcome of a game. Aimed squarely at online poker, this law also works against online sports gamblers, as it "prohibits the acceptance of credit, electronic funds, checks, or the proceeds of other financial transactions, by persons involved in the business of betting or wagering in connection with unlawful Internet gambling.
Each league prohibits members from gambling within their own sport, a rule that's gambling prohibition bible into every player contract under each league's Collective Bargaining Agreement.
For example, the standard NFL Player Contract reads, in part, "Player recognizes the detriment to the League and professional football that would result from impairment of public confidence in the honest and orderly conduct of NFL should sports gambling be legalized or the integrity and good character of NFL players. Player therefore acknowledges his awareness that if he accepts a bribe or agrees to throw or fix an NFL game; fails to promptly report a bribe offer or an attempt to throw or fix an NFL game; bets on an NFL game; [or] knowingly associates with gamblers or gambling activity…[he is subject to fine, suspension, picov casino whitby termination of his contract].
Though they lack true police powers, such as the ability to wiretap or subpoena, they maintain strong ties with the FBI and other agencies. On the surface, at least, these measures have been incredibly effective. Major League Baseball hasn't had to acknowledge a fixed game since the Black Sox in No NHL player has been accused of throwing a game since the s, while the NBA hasn't observed an incident of point shaving since Tim Donaghy was neither arrested nor convicted of fixing a game.
And the NFL proudly proclaims not a single one of its games has fallen under outside influence -- ever. Is it to protect sports by limiting the spread of state-sponsored sports gambling, or is it to protect organized crime's best means of income? In the courtroom, where New Jersey has already lost two legal battles to block PASPA, the arguments are not as much about protecting sports as they are about Congress' power over what an individual state can or cannot do.
The repercussions of a New Jersey win would be much greater than just allowing some casino-goers the ability to drop a C-note on the Nets game. It involves states' rights and the legality of other federally mandated measures like Obamacare. Publicly, however, the leagues portray this as a battle over the soul of sports. Each expressed the same concern, that if sports gambling were allowed openly, people would turn from "fans" into "gamblers," like the full moon turning lycanthropes into werewolves.
By making sports gambling a widespread institution tied to the outcomes of NHL games, the very nature of the sport is likely to change for the worse. The inevitable shifting 'loyalties' that would result from sports gambling could forever alter the relationship between teams and their fans. What does that shift should sports gambling be legalized fandom ultimately mean for the leagues?
A loss of revenue. As NBA Commissioner David Stern wrote, "The NBA cannot be compensated in damages for the harm that sports gambling poses to the fundamental bonds of loyalty and devotion between fans and teams. Once that special relationship has been compromised, the NBA will have been irreparably injured in a manner that cannot adequately be calculated in dollars.
Can the leagues prove this "certain" harm? According to the U. Court of Appeals for the Third Circuit, yes. Explaining the majority decision the leagues won the last roundJudge Senaca casino new york M.
Fuentes wrote that the leagues "are harmed by their unwanted association with an activity they and large portions of the public disapprove of -- gambling Here, the reputational harm that results from increasingly should sports gambling be legalized the Leagues' games with gambling is fairly intuitive. It should sports gambling be legalized, indeed, the specific conclusion reached by the Congress that enacted PASPA, as reflected by the statutory cause of action conferred to the Leagues should sports gambling be legalized enforce virtual casino 2008 new no deposit bonus codes law when their individual games are the target of state-licensed sports wagering And, presumably, it has also been at least part of the conclusions of the various state legislatures that have blocked the practice throughout our history Before the District Court were studies showing that: This more than suffices to meet the Leagues' evidentiary burden…[that] being associated with gambling is undesirable and harmful to one's reputation.
If all this is true, www.casino online.com, then how can the leagues openly encourage fantasy sports? These leagues create the exact situation the commissioners fear would happen with legalized gambling. They make "fans" root for players over and gambling mental illness their supposed team affiliation.
Even worse, while in some fantasy leagues no money exchanges hands, the vast majority are played to win a cash pot. While this may not be gambling per se, it's not far off, and the leagues know it. They also are aware of, and apparently allow, their own athletes taking part. The rise of "daily" fantasy sports leagues have pushed the boundaries of this legal-gambling question even further, as some online players are winning thousands of dollars a week engaging in these short-term games.
So far, though, not a peep has been heard from any of the commissioners over this growing fad. Aside from fantasy sports, "fans" undoubtedly are already wagering on these games, despite the illegality of it. But would all fans take up gambling if it was readily available nationwide? At least some direct evidence against this emanates from legal bastion of sports gambling, Las Vegas, where Jay Kornegay is should sports gambling be legalized manager of the largest independent sports book in the city, the LVH.
The fans are happy to just get a win. We believe it's a lot less than people outside of Nevada think. It's probably less than 1 percent. If they are true fans, they are going to watch the game and root for their team to win. It has nothing to do with the point spread. The leagues also purport and the courts foolishly believe that an expansion of legal gambling would undermine public confidence in the games' integrity.
Specific plays, coaching decisions, and umpiring calls would be questioned by fans who suspect that the 'fix is in. Selig's claim is true only in this one respect: The oversight created by legalization would reveal corruption that currently is hidden by its prohibition. In earlyEuropol, the European Union's law enforcement agency, made the stunning announcement that as many as soccer matches, in all levels of the sport, had been manipulated or fixed by gamblers and organized crime.
Matches in the vaunted English Premier League have been fixed, matches in the Olympic tournament have been fixed, and even matches in the World Cup have been fixed. This comes on top of the matches known to have been rigged in other sports, such as tennis and cricket, all over the globe. How did Europol discover this vast cauldron of corruption? With a lot of help from legalized sports gambling. The legal sports books in Europe are corporate-run entities, much like most of those in Nevada.
As LVH's Kornegay explains, "We do our best to protect the games' integrity, and that's why our relationship with the leagues has been better over the last 10 years or so. We both realized we want the same thing -- we want these games to be true and fair. The integrity of these games is their product, as well as ours. And we'll do all we can to assist in any sort of criminal investigation to bring those involved to justice. Taking it a step further, the European sports books have installed "integrity units" -- investigators who monitor all betting at their sites, as it occurs in real time.
Using proprietary algorithms and software, they can predict how the odds and lines should move and watch where money is being bet. When something abnormal occurs within the system, they flag it. Then, they follow the money. It's not a perfect system -- not every aberration flagged means that a game was fixed, and no doubt some fixers slip through the cracks -- but it's a good start.In her response to the Room for Debate question, should states be able to legalize sports betting and would that be worthwhile, Kelly Stewart. Sports betting at the MGM Grand in Las Vegas. American Gaming Association, as to why sports betting should be regulated and legalized. Experts almost unanimously agree that legalized sports betting in the U.S. is "My heart says it should be one to three [years]," former NBA.