Sports Betting Paradigm Change

[whaler11]

nope

A Small Town Bet on Sports Gambling. It’s Still Waiting.

 

[Exit 4]

nope

A Small Town Bet on Sports Gambling. It’s Still Waiting.

Interesting tale- thanks for posting

 

[gwhuskyfan]

"New Jersey, however, has been a bright spot. The state has brought in more than $2 billion since sports betting was legalized about 10 months ago. The vast majority of the bets there have come from smartphones or online, not allowed in most of the other states that have recently approved sports betting."

That's the difference. If you're going to legalize without mobile/online it's not really worth it.

 

[gwhuskyfan]

And while article sours a bit on what PA has brought in this just came out... can't be upset with that if you're the state of PA

 

[whaler11]

And while article sours a bit on what PA has brought in this just came out... can't be upset with that if you're the state of PA

The handle doesnt much matter. What did they get?

 

[whaler11]

PA looks like they received 2 million in March. 2 million is 2 million but sort of proves the point that this isn’t nearly as big as some people proclaimed.

 

[whaler11]

"New Jersey, however, has been a bright spot. The state has brought in more than $2 billion since sports betting was legalized about 10 months ago. The vast majority of the bets there have come from smartphones or online, not allowed in most of the other states that have recently approved sports betting."

That's the difference. If you're going to legalize without mobile/online it's not really worth it.

God the people who write about this stuff are economically illiterate.

Generating 2 billion in bets isnt bringing in 2 billion.

 

[Exit 4]

God the people who write about this stuff are economically illiterate.

Generating 2 billion in bets isnt bringing in 2 billion.

Yeah well, 98% of the media is economically illiterate. Most of the media also write from the POV that "economics" is not about the rationing of resources but rather its about giving stuff to people.

 

[whaler11]

Yeah well, 98% of the media is economically illiterate. Most of the media also write from the POV that "economics" is not about the rationing of resources but rather its about giving stuff to people.

Certainly. This topic is especially annoying though because it’s not that complicated. How so many people write about sports and don’t have any background on this industry is crazy.

When the Courant can’t figure out UConn’s budget... ok I guess. When sportswriters dont get how sports gambling works.... yikes

 

[The Viking]

I dont care if they only make one dollar.
I want to bet on sports

 

[ShakyTheMohel]

Interesting article. I was wondering why we haven’t seen sports gambling expand more.

 

[whaler11]

I dont care if they only make one dollar.
I want to bet on sports

since you posted here... you can bet at dozens of outlets better

 

[The Viking]

Interesting article. I was wondering why we haven’t seen sports gambling expand more.

The most important take away from that article is if you're going to legalize sports gambling, allow it online or thru a phone app. NJ is taking down 2 billion that way.
I want to be able to sit in my chair with a game about to start and put in a bet compared to having to drive to a casino or OTB.

 

[whaler11]

The most important take away from that article is if you're going to legalize sports gambling, allow it online or thru a phone app. NJ is taking down 2 billion that way.
I want to be able to sit in my chair with a game about to start and put in a bet compared to having to drive to a casino or OTB.

Can’t make this place up.

 

[UConnTrumbull]

The most important take away from that article is if you're going to legalize sports gambling, allow it online or thru a phone app. NJ is taking down 2 billion that way.
I want to be able to sit in my chair with a game about to start and put in a bet compared to having to drive to a casino or OTB.

Agreed. I’m not a sports gambler because I’m not going out of my way to find sketchy websites and offshore gambling companies. I’m also not gonna go out of my way to place a bet unless this country adopts a European system where there is a gambling kiosk in every shopping mall or city street. Fantasy sports are legal and done in the moment. Sports gambling should be that way too.

 

[businesslawyer]

I can't tell you what an awful development making sports betting as easy as NJ is is for society. The joy that some will get from being able to place these bets constantly and conveniently will be totally overwhelmed by the destruction to individuals and families that will come from a minority not being able to handle it.

 

[whaler11]

I can't tell you what an awful development making sports betting as easy as NJ is is for society. The joy that some will get from being able to place these bets constantly and conveniently will be totally overwhelmed by the destruction to individuals and families that will come from a minority not being able to handle it.

So you’d agree the lottery has a net negative impact on society and should be legislated out of existance ASAP?

 

[whaler11]

Agreed. I’m not a sports gambler because I’m not going out of my way to find sketchy websites and offshore gambling companies. I’m also not gonna go out of my way to place a bet unless this country adopts a European system where there is a gambling kiosk in every shopping mall or city street. Fantasy sports are legal and done in the moment. Sports gambling should be that way too.

The companies that run the legal options in NJ are much more sketchy than many of the offshore operators.

 

[UConnTrumbull]

The companies that run the legal options in NJ are much more sketchy than many of the offshore operators.

It’s possible. I’ve never done research or tried it. But I’ve heard stories from a buddy saying he had to wait 6 months to collect his winnings. Another guy said the website just ceased to exist with money in his account. I think a casual gambler like me would be more willing to do it on a sanctioned app than a .cayman or whatever it is. Again, I’m no expert here.

 

[whaler11]

It’s possible. I’ve never done research or tried it. But I’ve heard stories from a buddy saying he had to wait 6 months to collect his winnings. Another guy said the website just ceased to exist with money in his account. I think a casual gambler like me would be more willing to do it on a sanctioned app than a .cayman or whatever it is. Again, I’m no expert here.

There are plenty of bad actors offshore. The legal options are run by companies that act just as poorly with the benefit of support from the government.

Before bitcoin I would have shared that opinion - crypto made things much cleaner and easier. Granted it’s a barrier to entry but using bitcoin at a halfway decent offshore is light years better than the legal options in NJ.

 

[HuskyAlum012]

I can't tell you what an awful development making sports betting as easy as NJ is is for society. The joy that some will get from being able to place these bets constantly and conveniently will be totally overwhelmed by the destruction to individuals and families that will come from a minority not being able to handle it.

You know people are using these apps illegally even before new jersey legalized it? These kinds of people who will have their lives ruined would have had their lives ruined regardless. At least now it's regulated.

 

[businesslawyer]

You know people are using these apps illegally even before new jersey legalized it? These kinds of people who will have their lives ruined would have had their lives ruined regardless. At least now it's regulated.

Disagree. Not naïve to betting without this, but there are people who wouldn't go to a sports book (often), and wouldn't trust an illegal web site, who will be drawn in this way.

 

[crewbear742]

So you’d agree the lottery has a net negative impact on society and should be legislated out of existance ASAP?

Yes lotteries should be legislated out of existence. The state shouldn't make money running a numbers racket. Would it mean the state would have to be more honest about raising revenue? Yes. It couldn't raise money by peddling false hope to people who don't really understand the odds. Truth be told, people love it when the state raises revenue by taxing someone else's vices and vulnerabilities. All the benefit. None of the cost. But it isn't right.

I don't know how you measure "net negative impact". Is it worth fleecing people for an increase in state revenue? Does the end justify the means?

 

[whaler11]

Yes lotteries should be legislated out of existence. The state shouldn't make money running a numbers racket. Would it mean the state would have to be more honest about raising revenue? Yes. It couldn't raise money by peddling false hope to people who don't really understand the odds. Truth be told, people love it when the state raises revenue by taxing someone else's vices and vulnerabilities. All the benefit. None of the cost. But it isn't right.

I don't know how you measure "net negative impact". Is it worth fleecing people for an increase in state revenue? Does the end justify the means?

I don’t disagree - I was just wondering if BizLaw thought the same about the lottery because if you beleive one you should beleive the other.

 

[businesslawyer]

I don’t disagree - I was just wondering if BizLaw thought the same about the lottery because if you beleive one you should beleive the other.

Sorry, I missed your earlier question. I'm not a fan of the lottery, but I'm also not of the belief that it's as addictive or dangerous as someone on their sofa with a cell phone making a bet on the next play of a football game 40 times an hour. I could be wrong. My conclusions are admittedly anecdotal and not scientific.