OT: Supreme Court-States can legalize sports betting

[XLCenterFan]

The Connecticut Lottery will probably be allowed to offer sports betting as well. With 2900 retail outlets plus internet betting they'll be a big player.

If CT Lotto runs sports betting it will be a disaster. Connecticut needs to allow private firms to enter the state and compete for sports bettors business. If this is state run we will have no options, they will be inefficient, and I'm assuming it will be just poorly run and mis-managed. CT needs to allow the Bodogs, William Hills, and Cantor Gamings of the world to open up shops/apps in this state, and just tax them fairly on their profits, as they would any other business. If we end up paying more than -110 for a spread bet (which is the highest we should ever pay), which I'm afraid is what will happen if Lotto gets involved, it will be pointless!

 

[intlzncster]

I don't. I've been gambling since the age of 21. Have dabbled with ganja as well. The weed is far worse. Sports betting is actually a hobby, weed is detrimental to ambition and just like alcohol and cigarettes, can lead to other things. I know many gamblers, but I also know more people whose lives have been ruined by substances. For every gambling degenerate, there's WAY more people whose lives have gone from cigarettes to alcohol to weed, and maybe to more, or people who simply do not live up to their potential because of the herbs. Gambling does ruin lives, but pales in comparison to how drugs affect society.

People who go from drug to drug chasing a bigger high would be doing the same with or without marijuana. They'd go from cigarettes to alcohol to sniffing glue (and they do) or whatever.
The many millions of people who smoke weed and don't try anything else disprove your point above.

You're using personal anecdotal evidence to support your opinion, which is fine, but it doesn't jibe with the greater reality.

There's no doubt alcohol and cigarettes are worse for you physically than marijuana. They are more chemically addicting as well. Gambling is more addicting as well. The reward chemicals involved are totally different than that of marijuana. Marijuana can lead to a 'dependency', but chemically and physically, it's not hard to break. Can't say the same about the other three.

 

[Ts5034]

I'm not sure Vegas takes a huge hit from this. More than 50% of the revenue generated by most of the hotels now is non-gaming related. How much of that is sports betting specific? I don't know but probably not a huge amount. It's not like people had to come to Vegas to gamble recently anyway. Its available everywhere and sports betting was easy to do with bookies and online. I'm guessing Vegas isn't too shook up over it.

Exactly! I dont think people go out to Vegas just for the sports betting. I also dont think this will hold people back from going to Vegas just because they can bet on sports in CT or NJ.

 

[XLCenterFan]

Let's start a pool as to when and where the first betting spot in CT will be. I'm guessing at an OTB.

Also, throw a betting location in the XL Center and Buffalo Wild Wings. Maybe in the club houses of local golf courses!

 

[Devland]

People who go from drug to drug chasing a bigger high would be doing the same with or without marijuana. They'd go from cigarettes to alcohol to sniffing glue (and they do) or whatever.
The many millions of people who smoke weed and don't try anything else disprove your point above.

You're using personal anecdotal evidence to support your opinion, which is fine, but it doesn't jibe with the greater reality.

There's no doubt alcohol and cigarettes are worse for you physically than marijuana. They are more chemically addicting as well. Gambling is more addicting as well. The reward chemicals involved are totally different than that of marijuana. Marijuana can lead to a 'dependency', but chemically and physically, it's not hard to break. Can't say the same about the other three.

I have no problem with legalizing weed. I only have two requests. A. Like alcohol, please do not drive when you are under the influence. There are plenty of people who are stone sober that are bad drivers. You don't need weed or alcohol to slow your reactions and make you a worse driver. B. Like cigarette smokers, respect others, Do not expose non-smokers to your second hand smoke. As for the health effects of long term pot smoking, I have no scientific evidence, just antidotal, but I am 64 years old and know three people who smoked weed every day since I've known them. All three have had strokes. Two are in wheelchairs as a result from their strokes.

 

[Bezzz]

Let's start a pool as to when and where the first betting spot in CT will be. I'm guessing at an OTB.

Also, throw a betting location in the XL Center and Buffalo Wild Wings. Maybe in the club houses of local golf courses!

I have a client who owns a restaurant which also has an OTB within it. We are currently designing a renovation as he is definitely gearing up for sports betting.

 

[JMick]

Is this sarcastic or not? If not, I totally disagree. I would say way more people smoke weed than gamble, and the long-term ramifications of someone who gets hooked on weed at young age can last forever. Think about it-growing up, what did people do first? Weed or bet sports? I would say weed. And those people were way more likely to try other things. People start betting usually at an older age, when the brain is more developed. It can be addicting as well, but the likelihood of sports betting being the reason your life falls apart or stalls, is not as high as the chance that you don't live up to your potential due to puffing away at a young age.

I'll never understand how someone can still be this uninformed even with all the information available today

 

[Chuck]

Vegas is livid about this. There is no question that Vegas has made itself a destination for gambling and non-gambling, but it's all a big house of cards. Those gigantic places need visitors and sports books were a big draw. How many here have taken trips with their boys to gamble, hit steak houses and gentleman's clubs, etc? Even if you didn't lose in the sports book, you spent a lot on food and other entertainment. Closer legal sports gambling gives you another reason to take that trip elsewhere. Vegas will lose visitors and they now lose leverage. There are other voices in the space. The pro sports leagues have already said they want a cut. The states will all say no, but those leagues have impressive people working for them and someone will come up with a way (either legally or politically) for the leagues to get their cut.

Re weed vs. gambling, I fully believe that if both were made legal, gambling would negatively impact significantly more lives than marijuana. That includes not only the user/gambler, but also the collateral damage. The most chronic pot smoker will still function in life and the product will not be expensive enough to result in destitution and crime. There doesn't seem to be any evidence to believe that legalized pot would change society anymore than alcohol. I believe easier, legal access to gambling will result in lost life savings, crimes to compensate for losses, and eventual return to black market betting. I'm still okay with the legalization.

 

[methodology]

@Chuck

It's outrageous the professional leagues think they deserve a cut. If they get their way the vig you will be paying is going to be so outrageous the black market books will be doing better than they can imagine

 

[methodology]

It's not even in the same stratosphere in regards to marijuana vs gambling. Gambling ruins lives and families if it gets out of control. Marijuana you may not reach your potential and you may gain a few pounds.

 

[The X Man]

According to UNLV sports books made up 1.3% of revenues. I think they will be okay.

http://gaming.unlv.edu/reports/bigstripcasino2016.pdf

 

[Dogdeacon]

This is a college hoop board and somehow the legalized gambling debate has morphed into a discussion of the long term health benefits of pot and analyzing demographic data to win most detrimental impact on lives theory?

I think there is a real good chance that legalized sports betting brings us closer to paying NCAA athletes and/or helps bring down the NCAA. The NCAA and schools are able to box out players from TV and advertising revenues and came up with not using players actual likeness as the forearm to the chest in this box out. And there simply no way to get to the rim from there, players cannot sell their own likeness or access TV or advertising dollars in any meaningful way (signing autographs is about it and its small potatoes)

But these gambling revenues are big, widespread & likely more insidious $$ and when the large stakes become known it'll be very hard to have players living modest college existences not try to cash in. Previously a gambling conspiracy needed to involve lots of people, most of whom were criminals. Now you can essentially do it yourself or with one other person involved tops. Way easier and way harder to catch or prove.

Similarly refs in all sports pro or college are going to be really tempted. Need to study how they keep things on the up and up in other countries.

 

[XLCenterFan]

I agree Dogdeacon...let's keep the chat here to the Christie v. NCAA ruling, and how CT will be affected by the repeal of the sports betting prohibition. I apologize for the derailment.

 

[XLCenterFan]

In Europe, where betting on soccer and tennis matches has been legal for years now, they actually uncover betting scandals through the legal betting markets. When too much money is on one side, or when a random match gets above-average wagers/bet totals, they look into it.

 

[Waquoit]

Let's start a pool as to when and where the first betting spot in CT will be. I'm guessing at an OTB.

Bobby V's!

 

[Waquoit]

It's outrageous the professional leagues think they deserve a cut. If they get their way the vig you will be paying is going to be so outrageous the black market books will be doing better than they can imagine

The NBA is calling it an "integrity fee". And what they are asking for is outrageous.

 

[JMick]

I have no problem with legalizing weed. I only have two requests. A. Like alcohol, please do not drive when you are under the influence. There are plenty of people who are stone sober that are bad drivers. You don't need weed or alcohol to slow your reactions and make you a worse driver. B. Like cigarette smokers, respect others, Do not expose non-smokers to your second hand smoke. As for the health effects of long term pot smoking, I have no scientific evidence, just antidotal, but I am 64 years old and know three people who smoked weed every day since I've known them. All three have had strokes. Two are in wheelchairs as a result from their strokes.

The amount of people driving stoned will be no different when its legalized. I don't think people realize how many people aleeady smoke weed. I'd say it's 70% of the people I know under 30 and 40% of the people I know over 30.

 

[huskymedic]

Bobby V's!

Yup... or some other partnership w/ SportTech and OTB (like Sports Haven in New Haven).

 

[XLCenterFan]

I think we need to have a transparent, competitive process to allow private companies to compete for sports betting operations. Malloy may be calling the legislators back this week for a special session to address it (the legislative session ended May 9). If CT Lotto and the casinos are the only people involved they will likely bungle it. While it should be allowed at Foxwoods and Mohegan, they should not be granted sole/monopolistic ownership. I think it needs to be a combination of the casinos, OTB's and places like Bobby V's, and that they should also have apps, so that we don't have to drive somewhere just to place a wager. I really hope they get people who understand what bettors want and need involved. If we end up getting taxed on winnings of any size (minus losses obviously), or getting lines with vigs higher than -110, the black market will thrive. I also hope we don't get 1099's for winnings below at least 5K, as is the case for poker tournament winnings at the Woods/Sun.

 

[Husky25]

I think we need to have a transparent, competitive process to allow private companies to compete for sports betting operations. Malloy may be calling the legislators back this week for a special session to address it (the legislative session ended May 9). If CT Lotto and the casinos are the only people involved they will likely bungle it. While it should be allowed at Foxwoods and Mohegan, they should not be granted sole/monopolistic ownership. I think it needs to be a combination of the casinos, OTB's and places like Bobby V's, and that they should also have apps, so that we don't have to drive somewhere just to place a wager. I really hope they get people who understand what bettors want and need involved. If we end up getting taxed on winnings of any size (minus losses obviously), or getting lines with vigs higher than -110, the black market will thrive. I also hope we don't get 1099's for winnings below at least 5K, as is the case for poker tournament winnings at the Woods/Sun.

"The threshold for which gambling winnings must be reported to the IRS varies based on the type of game. At a horse track, you must report any winnings that exceed either $600 or 300 times your initial wager. For slot machines and bingo, you are required to report all winnings in excess of $1,200. In a poker tournament, you must report winnings above $5,000."

I completely agree that CT Lottery would ruin sports gambling. Casinos and OTB would handle the administration far more effectively and efficiently. The State should then tax them accordingly as they already do.

BTW, both MJ and gambling should be made available.

 

[huskyjawz]

The amount of people driving stoned will be no different when its legalized. I don't think people realize how many people aleeady smoke weed. I'd say it's 70% of the people I know under 30 and 40% of the people I know over 30.

People like to equate pot with alcohol, but in regards to driving while under the influence they are not the same. As everyone knows, driving ability decreases significantly with alcohol use, and that's why there are such strong penalties for drunk driving.

Pot, on the other hand, does not impair a person's driving ability nearly as much as alcohol does.

 

[JMick]

People like to equate pot with alcohol, but in regards to driving while under the influence they are not the same. As everyone knows, driving ability decreases significantly with alcohol use, and that's why there are such strong penalties for drunk driving.

Pot, on the other hand, does not impair a person's driving ability nearly as much as alcohol does.

I still don't think people should drive when high. I do not drink and drive or smoke and drive. It's too easy to get an Uber or just plan appropriately

 

[methodology]

People like to equate pot with alcohol, but in regards to driving while under the influence they are not the same. As everyone knows, driving ability decreases significantly with alcohol use, and that's why there are such strong penalties for drunk driving.

Pot, on the other hand, does not impair a person's driving ability nearly as much as alcohol does.

There was a study done about 10 years ago by Yale or Quinnipiac, I believe, and the participants who were given actual weed vs the ones who were given a placebo rated as better drivers. The study said they drove slower and more cautious from what I remember.

Also it's somewhat difficult to conclude if someone is stoned while driving because it stays in your system so long. You can be sober and fail a drug test for weed you smoked 2-4 weeks prior

 

[Waquoit]

"The threshold for which gambling winnings must be reported to the IRS varies based on the type of game. At a horse track, you must report any winnings that exceed either $600 or 300 times your initial wager. For slot machines and bingo, you are required to report all winnings in excess of $1,200. In a poker tournament, you must report winnings above $5,000."

I'm not sure this is right. I believe it's "you must report any winnings that exceed either $600 AND 300 times your initial wager". Nobody reports wins over $600. that don't meet the 300-1 threshold.

 

[Husky25]

There is a legal distinction, but to me there is no difference between a DUI, DWI, or OUI. Under the influence of an intoxicant is under the influence of an intoxicant. If one is caught, One needs to suffer the consequences. Done and done.