new york post article on nba and sports gambling
jets96
Senior Member
Our conclusion is that the time has come for a different approach that gives sports fans a safe and legal way to wager on sporting events while protecting the integrity of the underlying competitions.
State lawmakers have explored the issue in recent months as they wait for the Supreme Courts decision on whether to allow legal sports gambling in New Jersey.
If the nations top court rules in the states favor, many officials believe they will also overturn the 1992 federal gambling ban.
There are different ways to implement legal sports betting, Spillane said. One approach, which we would prefer, is for Congress to adopt a federal framework that would allow New York and other states to authorize betting on sports, subject to strict regulatory requirements and technological safeguards.
The NBAs show of support on Wednesday is a break from the professional sports leagues decades-long stance against gambling.
Creating a legal framework for sports betting is not a novel proposition, Spillane told lawmakers.
While the NBA is pushing for a national betting regulatory system, allowing for legal gambling across the US, it has been forced to take the fight to the state level as federal officials continue to drag their feet on the issue.
We support the passage of a comprehensive sports betting bill that would serve as a model for a 50-state solution whether that happens in Congress or on a state-by-state basis, Spillane said.
Specifically, Spillane outlined five key components to making national legalized wagering work, one of which included a 1 percent fee for every NBA bet made.
Without our games and fans, there could be no sports betting. And if sports betting becomes legal in New York and other states, sports leagues will need to invest more in compliance and enforcement, including bet monitoring, investigations and education, Spillane said.
To compensate leagues for the risk and expense created by betting and the commercial value our product creates for betting operators, we believe it is reasonable for operators to pay each league 1 percent of the total amount bet on its games, he explained. This approach draws from how sports betting is legally regulated in some other international jurisdictions, like Australia and France.
Another proposal is to have bets be made using smartphones and arena kiosks instead of just casinos and racetracks.
If betting were limited to the four land-based casinos that are located miles from New York City or other major population centers in the State, many consumers likely would continue to bet illegally through offshore websites and other illegal channels, Spillane said.
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State lawmakers have explored the issue in recent months as they wait for the Supreme Courts decision on whether to allow legal sports gambling in New Jersey.
If the nations top court rules in the states favor, many officials believe they will also overturn the 1992 federal gambling ban.
There are different ways to implement legal sports betting, Spillane said. One approach, which we would prefer, is for Congress to adopt a federal framework that would allow New York and other states to authorize betting on sports, subject to strict regulatory requirements and technological safeguards.
The NBAs show of support on Wednesday is a break from the professional sports leagues decades-long stance against gambling.
Creating a legal framework for sports betting is not a novel proposition, Spillane told lawmakers.
While the NBA is pushing for a national betting regulatory system, allowing for legal gambling across the US, it has been forced to take the fight to the state level as federal officials continue to drag their feet on the issue.
We support the passage of a comprehensive sports betting bill that would serve as a model for a 50-state solution whether that happens in Congress or on a state-by-state basis, Spillane said.
Specifically, Spillane outlined five key components to making national legalized wagering work, one of which included a 1 percent fee for every NBA bet made.
Without our games and fans, there could be no sports betting. And if sports betting becomes legal in New York and other states, sports leagues will need to invest more in compliance and enforcement, including bet monitoring, investigations and education, Spillane said.
To compensate leagues for the risk and expense created by betting and the commercial value our product creates for betting operators, we believe it is reasonable for operators to pay each league 1 percent of the total amount bet on its games, he explained. This approach draws from how sports betting is legally regulated in some other international jurisdictions, like Australia and France.
Another proposal is to have bets be made using smartphones and arena kiosks instead of just casinos and racetracks.
If betting were limited to the four land-based casinos that are located miles from New York City or other major population centers in the State, many consumers likely would continue to bet illegally through offshore websites and other illegal channels, Spillane said.
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Comments
Some predictions:
If there were a national betting network that allowed bookmakers (whether businesses or states) to respond in real time to bets on their own or other books, you would see -103 lines on deep markets like the NFL.
If you think a 1% tax (which would move the lines 2 points, so lets say back up to -105) is all the government would take, let me introduce you to the state lottery. You would need a social security number to place a bet, and the government would incrementally take more and more until the line was back up to -110 or even -115.
Any deal they come up with will have zero imagination and will be highly regulated to crush innovative concepts that would add value to bettors, like APIs for quants to bet, Betfair-style betting, political- or event-futures, financial market bets, in-game gambling for MMORPGS, VR/AR features, and the new physical skill+luck gaming machines. If I were Vegas or AC, this is where I would differentiate to distinguish from offshore books and from the bland action that will result from the people who developed the exciting world of scratchies.