If Sports Gambling is legalized in the US...

Question

which companies would be affected the most?

nbafan88 · Answer

which companies would be affected the most?

Rush51 · Answer

Probably the smaller casino operators that have little to no foreign exposure in Macau... a company like Harrah's.

Big guns like Wynn & Sands would likely be less effected, if it ever became legal.

flyp · Answer

I&#x27;ll be singing, "and I&#x27;m proud to be an American......."

LeRinkRat · Answer

one stock that would probably rocket would be CryptoLogic Limited (CRYP - nasdaq). they do the gaming software for unline betting.

stock has been beat to hell the last year and is at an all time low of 1.61. this was a $30+ stock in the spring of 2007

just under 13 million shares out so ANY buying can move it quick BUT there has been nothing but bad news the last couple of years.

SteelHop · Answer

Depending on how any gambling bill is structured. Wouldn&#x27;t Wynn/Sand/Harrahs all be able to participate in the opening their own books.  But overall, given the low theoretical win off of a sports book and what it contributes to a Casino&#x27;s overall revenue number.  Most casinos would see a small boost in revenue

Rush51 · Answer

Yes...I suppose you&#x27;re right if they are given the opportunity to open up their own books.. and why wouldn&#x27;t they..  good point. I suppose it&#x27;s the off-shore books that would get hammered in this case..

rubberband-man · Answer

it will never happen. its just like drugs gov&#x27;t likes it the way it is so that it can take stuff from those that try to profit off it

gamble04 · Answer

the government needs to realize how much they could make in taxes from legalizing online gambling.  Hopefully someday!!!

bucknuts · Answer

[Quote: Originally Posted by rubberband-man] it will never happen. its just like drugs gov&#x27;t likes it the way it is so that it can take stuff from those that try to profit off it[/Quote]&#xD;&#xA;17 states have medical pot and 8 more vote on it in Nov

nbafan88 · Answer

its just a matter of time until sports wagering is legalized.. i believe NJ will have online betting within a year

mr_bollox · Answer

it will have little effect on companies, most people who want to bet, already find a way to. In any case there would be so many restrictions if it ever was legalized, i reckon anybody who tried to open a legal book would struggle to make it pay

DAWGPRINT · Answer

correct

KBrick84 · Answer

[Quote: Originally Posted by LeRinkRat] &#xD;&#xA;one stock that would probably rocket would be CryptoLogic Limited (CRYP - nasdaq). they do the gaming software for unline betting.&#xD;&#xA;stock has been beat to hell the last year and is at an all time low of 1.61. this was a $30&#x2B; stock in the spring of 2007 &#xD;&#xA;just under 13 million shares out so ANY buying can move it quick BUT there has been nothing but bad news the last couple of years.&#xD;&#xA;[/Quote]&#xD;&#xA;$1.16 right now, may be worth a shot in the dark for $1,000.  &#xD;&#xA;If it ever does go legal (2-3-4-5 years) this stock is the beneficiary

SportsFan9698 · Answer

I see this as a non-event for many reasons.

First off, some make the comment of how governement could profit from increased tax revs. I really don't see that. If states start to sell a parlay card of sorts like Oregon, sure there are revs there, but that is not the big volume of gambling handle.

Even if states allowed for online books to operate on US soil, what exactly would be taxed? The net gains by players? Well if that happened, I'd be content to keep my gambling offshore... would you prefer to move your sports wagering under the umbrella of reported earnings and have the fed get a 1099 of your wager earnings? Not me

I just don't see this as a boon for the fed or states from a revenue point of view. I think there are many many $1000 handshakes that take place today and over the decades between congressmen and local bookies, offshore books interests, etc.

KBrick84 · Answer

[Quote: Originally Posted by SportsFan9698] &#xD;&#xA;I see this as a non-event for many reasons.&#xD;&#xA;First off, some make the comment of how governement could profit from increased tax revs.  I really don&#x27;t see that.  If states start to sell a parlay card of sorts like Oregon, sure there are revs there, but that is not the big volume of gambling handle.  &#xD;&#xA;Even if states allowed for online books to operate on US soil, what exactly would be taxed?  The net gains by players?  Well if that happened, I&#x27;d be content to keep my gambling offshore... would you prefer to move your sports wagering under the umbrella of reported earnings and have the fed get a 1099 of your wager earnings?  Not me&#xD;&#xA;I just don&#x27;t see this as a boon for the fed or states from a revenue point of view.  I think there are many many $1000 handshakes that take place today and over the decades between congressmen and local bookies, offshore books interests, etc.  &#xD;&#xA; &#xD;&#xA;[/Quote]&#xD;&#xA;Lots of people would be willing to move to US Based books, if the ease of depositing/withdrawing is there.  Remember the days of simply using your checking account to do both.  The average gambler, loves that option.&#xD;&#xA;When it does happen, yes when...not if.  It will turn into a VERY good method to bring down the US deficit.  Something our politicians should be more concerned about, than telling us how to spend our own money.

nc1capper · Answer

several of the larger gaming compaines are pushing for legalizing online gaming

SportsFan9698 · Answer

[Quote: Originally Posted by KBrick84]  &#xD;&#xA;Lots of people would be willing to move to US Based books, if the ease of depositing/withdrawing is there.  Remember the days of simply using your checking account to do both.  The average gambler, loves that option.&#xD;&#xA;When it does happen, yes when...not if.  It will turn into a VERY good method to bring down the US deficit.  Something our politicians should be more concerned about, than telling us how to spend our own money.  [/Quote]I don&#x27;t care to argue how big or small legalized gambling would be here on US soil... but to bring down the deficit??????OMG you are new to politics, aren&#x27;t you?Yes and the lottery made our public education system better, and Obamacare makes medical care better, and "stimulus" makes our economy better.

Michfan15 · Answer

banks who have more leinent laws regarding sports betting/gambling.  they&#x27;ll win over customers who are on the fence, cause some banks are very anti-gambling / have strict restrictions on it

dick747 · Answer

money rules all.&#xD;&#xA;follow the flow.&#xD;&#xA;gl now.

Mikado · Answer

I&#x27;m actually doing a thesis on this for a upper level psychology class.I&#x27;d be interested to know what effect you guys think would happen if the US were to legalize all forms of gambling, including over the internet.  They are missing out on some serious revenue that could be going to them, instead it mostly goes into a few rich Central Americans hands.One problem with it though is that legalization will increase crime, divorce, and poverty.  This is a proven statistic related to gambling.However if you legalize it, you take away from the shady characters that probably bring the crime with them (particularly organized crime).Another benefit is it is ALWAYS better than a tax increase.  This way people voluntarily put money into the economy instead of skipping out of paying taxes that are too high.  But a negative side effect from this is you will have mostly lower income people voluntarily putting their money up and can lead to addiction to gambling - It&#x27;s doubtful that you will increase the higher income peoples gambling habits (because they can already afford the plane ticket and hotel to Vegas or Aruba).  But as a plus, it puts money into local economies.Would love to hear some more of your opinions on this subject!Thanks!

Mikado · Answer

Delaware got shot down over this past year.  For a while there it looked like a sure thing they were going to bring sports betting into the state.A big reason why this didn&#x27;t happen is the great state of Nevada with their heavily tourism based economy.  In a time when most places are in the dumps, legalizing gambling would be a great way to increase the revenue of your town (that is if they haven&#x27;t already done it before).With this, money would be funneled out of Vegas.  And with events like the Super Bowl and March Madness - even if Vegas received 10% less traffic.  It would be a hard hit.  The books don&#x27;t account for a good amount of the casino income (everyone knows its slots), so any kind of decline from football season etc will lead to more layoffs and less tourism in Vegas.

Mikado · Answer

The lottery did actually help balance many states budget shortfalls in the late 70&#x27;s and early 80&#x27;s to the states that implemented it.The thing is was only a temporary solution to a long-term problem.  As population and cities grew in the 90&#x27;s; production and resources remain relatively the same, it would eventually level out and the same problem would be faced again (like now) and we would experience another recession on a greater scale than in the Carter years.  We&#x27;ve been setting ourselves up for this for awhile now.  Yes, In theory legalized gambling would initially bring a lot of money into the economy.  All those lower class people start going broke, end up on drugs or living on welfare.  Further depleting the economy in the future with useless people like today.  It would help short-term, but no way this country would be better off in the long run if every state were to become like Nevada.

nbafan88 · Answer

Mikado,If someone wants to bet on sports, the process of doing so is fairly easy if someone wants to... you know that, I know that, everyone knows that. I want it to be regulated. And it will be soon

nbafan88 · Answer

wow you&#x27;re doing a thesis for a psych class? Very interesting... let me know how that goes

VirginiaHoldem2 · Answer

I don&#x27;t think they are concerned about the tax revenue from Joe Gambler who is lucky enough to make $1,000 in a year (few and far between) . . . what the government would want is the tax windfall from the books who take all of Joe Gamblers money . . . so all that revenue gets taxed at 35% for the fed . . . that is what they want!throw in online poker and it is a decent chunk of change.

If Sports Gambling is legalized in the US...

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