Tribal gaming operations have a huge presence in some of the most populous states. Legal sports betting, now quickly expanding in the U.S., presents various issues, which we now explore. For now, there is no united tribal front on question of sports wagering.
For most casual sports bettors, making a bet on a game has less to do with careful analysis and seeking the best value for their bet and more to do with simply wanting to increase their excitement and interest in a particular game. For the professional sports bettors, enthusiasm for a game is a distraction while they are gathering and studying information looking for advantages where the book has a...
Profits in any casino game comes from the volume of activity in the category of the wager. Sounds profound, but the principle is simple. Let’s say one person makes one bet of $100,000 on a casino game that has a 5 percent casino advantage. With one bet, the bettor either wins or loses $100,000 conversely the casino either wins or loses $100,000. However, if 2,000 people each make a $5...
Many of the jurisdictions that followed Atlantic City into the world of legalized gaming did so on the premise that casino-style gaming would promote tourism, create jobs and of course throw tax dollars into the respective state’s treasury. Sounds good and makes sense so why not. No surprise, the formulae worked, employment increased, communities flourished and gambling that to be considered a sin morphed into entertainment. All was right with...
One of the favored bets by those of us who treat sports betting as if it were stock trading, is the futures bet. While as a standalone bet a sports futures wager is generally a sucker bet with the books generally targeting a comparably high hold (win) percentage on that pool of wagers, for the investment minded folk they are a beautiful bet-hedging tool. From the sportsbook’s perspective the ideal...
Pennsylvania is a pig. And gaming operators would be right to call it out. The Keystone State prides itself on taxing gaming at one of the highest rates in the country – more than 50 percent of revenue in many cases for slot machines, table games and internet gaming. Now it wants to tax sports betting at 34 percent (plus a 2 percent local tax). That’s just wrong. And Pennsylvania...
Imagine thinking about a business model, in this case the possibility of nationwide sports betting, for almost 40 years, and then finally it happens! That’s what has just occurred for Michael “Roxy” Roxborough, universally regarded as a pivotal and instrumental figure in the development of sports betting. Roxborough sat down recently with Sports Handle to offer some advice for individual states and those companies soon to establish legal sports wagering...
The sports wagering industry has an interesting opportunity to guide its own fate, but as there is no true unifying voice within the industry, it is ill prepared to speak or negotiate with the leagues or conferences, both amateur and professional, to come to a mutually beneficial deal. Absent a unified position by this industry the door is wide open for any range of future twists and turns that would...
Last week’s Supreme Court decision shot a hole in the uniqueness that has separated Nevada’s casino business from other American gambling halls. Yes, times have changed. The growing number of opportunities to bet sports is on the way to becoming a major marketing tool that will help bring customers in search of entertainment through the front door to spend money on whatever may be inside. Consider what the Golden Knights have...
Now that the celebrations of the Supreme Court’s ruling that PASPA is unconstitutional are settling down, it is time to look forward as to what happens next for sports wagering. Sadly, in the ruling that overturned PASPA, the majority of justices did not follow Justice Thomas’ opinion that sports wagering within the borders of a state are the state’s exclusive jurisdiction, but the majority in essence ruled that PASPA failed...
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