Christie vs NCAA

[barfolomew]

I wonder if the new arena has planned for this, either with kiosks or a "lounge".

Perhaps we just found out what the value prop is for the Mezzanine Level Club.

[GGGG]

If I ever placed a bet, this would excite me.

+1

I'm not against gambling and I'm not denying the impact, but I don't really want more coverage of betting lines and the like.

[tower912]

Friendly wagers on the golf course, around the fire station, the occasional lottery ticket.  Never spent a dime in a casino or on a sports book.

[Jockey]

Gonna be a lot of battles coming up between the sports leagues and the states as Leagues look for their cut.

[muwarrior69]

Friendly wagers on the golf course, around the fire station, the occasional lottery ticket.  Never spent a dime in a casino or on a sports book.

Me too; however the Jersey legislature, my home state, expects to have the law in place by July 4 so they can be ready for the NFL season.

[Spotcheck Billy]

Walker says WI will not do it, likely violates agreements with the Indian casinos, I could care less gambling although additional state revenue might not hurt.

[WarriorFan]

Back when I lived in the UK, I recall there were limits on bets that could be placed in the stadium kiosks... pretty low limits.  It is, after all, a "family" event!

[MUBurrow]

Walker says WI will not do it, likely violates agreements with the Indian casinos, I could care less gambling although additional state revenue might not hurt.

Wisconsin would just need to remove its prohibition to allow the tribes to offer sports gambling though, right? I'm not sure what the interplay between Wisconsin gambling law and tribal sovereignty is there, but I assume there must be some sort of ban applicable to tribal casinos located in WI or they would already offer it (many have OTB as it is).  If there is a WI ban applicable, even if actually offering sports gambling at the state level would violate agreements with the tribes, maybe there's a deal to be struck there to lift the ban for the tribal casinos in exchange for a cut.

[tower912]

Be careful with the Indian Casinos.    Several years ago, Detroit allowed MGM to build a casino.    By doing that, it voided all of the compacts with the Indian tribes running casinos.    Prior to that, it was specified what percentage they paid to the state.    By allowing MGM to build and voiding the contracts, the tribes get to choose if they pay any taxes at all to any entity.     State coffers took a hit.   

[MU Fan in Connecticut]

Be careful with the Indian Casinos.    Several years ago, Detroit allowed MGM to build a casino.    By doing that, it voided all of the compacts with the Indian tribes running casinos.    Prior to that, it was specified what percentage they paid to the state.    By allowing MGM to build and voiding the contracts, the tribes get to choose if they pay any taxes at all to any entity.     State coffers took a hit.

Connecticut is going through this now.  MGM has a massive offer to build a casino in Bridgeport,  but if approved it will void the slots revenue contract with the two largest Indian casinos in the country. 
They are also discussing a special session to discuss yesterdays sports books decision as it involves the casinos also and the OTB facilities in the state.

[WarriorDad]

Walker says WI will not do it, likely violates agreements with the Indian casinos, I could care less gambling although additional state revenue might not hurt.

Minnesota officials made similar comments yesterday, that the tribal pacts would complicate things.  Orin Hatch to put out some new legislation to regulate this nationally.  Feels like this has a long way to go still, but change is a coming.

[WarriorDad]

1961 Wire Act is going to be a problem. 

Second, though the leagues sued in 2012 and 2014 to stop NJ, privately (especially the NBA) has been lobbying for legal betting.  They want a piece of the action, 1% originally on the juice.  The gambling firms told the NBA to get f'd, so the NBA and others are now at .25% demand.  The firms may still tell them to get f'd.  Gambling happens in Vegas today without the leagues getting a cut, they don't bring anything accretive to the table for the gambling firms.

Third, now there are these other businesses wanting to jump in as adding value to watchers and the betters.  Think ESPN, Comcast, to make it easier for gambler to bet on what they are watching. Problem is that this will be state  to state, makes it difficult. It also adds more cost to the Vig, if everyone has their hand out the legal Vig will be more than the local bookie.  Today the Vig is about 6% to 10% usually.  If legal betting goes to 10% or higher, why would betters make the legal bets just to give more middlemen a cut of your potential winnings?  Yes, there will be more betters because of the ease of betting, but this will be where green betters go and that eventually isn't sustainable.  The big events will have mass legal wagering, but the day to day stuff will not sustain if the rates are too high.

Keep your eye on the Wire Act fallout, that is key here.