The New York Times makes a strong case for legalized sports gambling here https://www.nytimes.com/2015/01/25/magazine/risk-factor.html?_r=0.
It has long been the excuse for all the professional sports associations that legalized gambling increases the chance of fixed games. Well guess what, we now have evidence to exactly to the opposite. To quote the article " taking gambling into the light makes the marketplace more hostile to cheaters." To spell it out further, when gambling is legal gambling is more carefully scrutinized and the fixers are less likely to get away with it. This isn't just an idea, it has been proven in England since gambling has been made legal over there. Read the article, it is spelled out in clear detail as to why. Legalized books can help catch cheaters while illegal ones cannot.
Why all the commissioners and owners of professional sports (excluding NBA commissioner Silver and NBA owner Cuban) so retarded is beyond me. Legalized gambling will dramatically increase viewership of sports and decrease the opportunity for fixing games.
The people are gambling, you can't stop them from gambling, make it legal so that 1)profits go towards taxes rather than shady off shore books and bookies 2)we as gamblers can get as low a percentage taken by a book as the free market allows and 3)problem gamblers can be more easily identified and given help.
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To remove first post, remove entire topic.
The New York Times makes a strong case for legalized sports gambling here https://www.nytimes.com/2015/01/25/magazine/risk-factor.html?_r=0.
It has long been the excuse for all the professional sports associations that legalized gambling increases the chance of fixed games. Well guess what, we now have evidence to exactly to the opposite. To quote the article " taking gambling into the light makes the marketplace more hostile to cheaters." To spell it out further, when gambling is legal gambling is more carefully scrutinized and the fixers are less likely to get away with it. This isn't just an idea, it has been proven in England since gambling has been made legal over there. Read the article, it is spelled out in clear detail as to why. Legalized books can help catch cheaters while illegal ones cannot.
Why all the commissioners and owners of professional sports (excluding NBA commissioner Silver and NBA owner Cuban) so retarded is beyond me. Legalized gambling will dramatically increase viewership of sports and decrease the opportunity for fixing games.
The people are gambling, you can't stop them from gambling, make it legal so that 1)profits go towards taxes rather than shady off shore books and bookies 2)we as gamblers can get as low a percentage taken by a book as the free market allows and 3)problem gamblers can be more easily identified and given help.
Here in Australia everyone gambles, we have the highest gambling per head of population in the world. If the goverment here tried to stop gambling they would be hunted down pretty quick
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Here in Australia everyone gambles, we have the highest gambling per head of population in the world. If the goverment here tried to stop gambling they would be hunted down pretty quick
As a gambler I never understand why you would want a legalized bookie? It's hard enough to win and now you have to pay taxes on your winnings...no thank you. I'll stick with my local.
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As a gambler I never understand why you would want a legalized bookie? It's hard enough to win and now you have to pay taxes on your winnings...no thank you. I'll stick with my local.
As a gambler I never understand why you would want a legalized bookie? It's hard enough to win and now you have to pay taxes on your winnings...no thank you. I'll stick with my local.
You raise a legitimate question, would gambling simply become more expensive if it was taxed.
The answer is no it would not IF there is a free market that allows people to select books that charge a far lower rate. A betting exchange, like Matchbook is a sports betters dream. They charge only 1% to losing bets while your local charges 10% to losing bets. Crunch the numbers people, at Matchbook you need to win 50.5% of the time to break even, with your local you need to win 55% of the time.
With very few exceptions, very very few, you can't outsmart the geniuses setting the lines 55% of the time. BUT a smart guy who loves football, eats and breathes it, can after years of effort beat the average bettor between 51 and 55% of the time.
I could go on with my mathematical reasoning but I won't. Let's just say Vegas and the people that flock there are hotspots for beliefs in bad math. The rake, the vigorish, whatever you want to call the bookies take dwarfs what you would pay in taxes if you look at your betting history. Analysis of your betting history will support what I'm saying if you go back and study it.
However legalizing sports gambling does not immediately mean the free market will take over and books will charge lower and lower percentage cuts. Why? #1 gamblers are stupid consumers that don't shop very well for the lowest rates available, and #2 the gambling industry is powerful lobby that will block such free market activity.
But eventually the greedy middlemen are pushed to a smaller and smaller take. A perfect analogy of a HUGE industry becoming legal and what happens is marijuana in Colorado. Right now legal marijuana is still damned expensive but everyone predicts the market will crash and the prices will plummet. Legal gambling will follow the same road. With everything legal the undercutting will begin and instead of 5 dimes charging 5% and Pinnacle 6% the numbers will drop to where books are still making a boatload of money. And wouldn't you prefer the State of Florida cut your check rather than some shady off shore on line book?
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Quote Originally Posted by Ant914:
As a gambler I never understand why you would want a legalized bookie? It's hard enough to win and now you have to pay taxes on your winnings...no thank you. I'll stick with my local.
You raise a legitimate question, would gambling simply become more expensive if it was taxed.
The answer is no it would not IF there is a free market that allows people to select books that charge a far lower rate. A betting exchange, like Matchbook is a sports betters dream. They charge only 1% to losing bets while your local charges 10% to losing bets. Crunch the numbers people, at Matchbook you need to win 50.5% of the time to break even, with your local you need to win 55% of the time.
With very few exceptions, very very few, you can't outsmart the geniuses setting the lines 55% of the time. BUT a smart guy who loves football, eats and breathes it, can after years of effort beat the average bettor between 51 and 55% of the time.
I could go on with my mathematical reasoning but I won't. Let's just say Vegas and the people that flock there are hotspots for beliefs in bad math. The rake, the vigorish, whatever you want to call the bookies take dwarfs what you would pay in taxes if you look at your betting history. Analysis of your betting history will support what I'm saying if you go back and study it.
However legalizing sports gambling does not immediately mean the free market will take over and books will charge lower and lower percentage cuts. Why? #1 gamblers are stupid consumers that don't shop very well for the lowest rates available, and #2 the gambling industry is powerful lobby that will block such free market activity.
But eventually the greedy middlemen are pushed to a smaller and smaller take. A perfect analogy of a HUGE industry becoming legal and what happens is marijuana in Colorado. Right now legal marijuana is still damned expensive but everyone predicts the market will crash and the prices will plummet. Legal gambling will follow the same road. With everything legal the undercutting will begin and instead of 5 dimes charging 5% and Pinnacle 6% the numbers will drop to where books are still making a boatload of money. And wouldn't you prefer the State of Florida cut your check rather than some shady off shore on line book?
I despise locals. They are all scumbags. I knew a guy who had a conscious and he quit being a bookie. Anybody know what a bookie does on Mondays during the football season? First they call the losers cell phones. Then they call the losers land lines or visit them in person. The wife answers and know exactly who it is and why they are calling. Hate come through the phone. In the background as the loser gets called to the phone you hear all the sounds of a family breaking. The wife is screaming, the kids are crying, yea, swell people those locals. Real nice guys.
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I despise locals. They are all scumbags. I knew a guy who had a conscious and he quit being a bookie. Anybody know what a bookie does on Mondays during the football season? First they call the losers cell phones. Then they call the losers land lines or visit them in person. The wife answers and know exactly who it is and why they are calling. Hate come through the phone. In the background as the loser gets called to the phone you hear all the sounds of a family breaking. The wife is screaming, the kids are crying, yea, swell people those locals. Real nice guys.
I agree with much of the commentary above and think it is only a matter of time before we all can stroll down to our local book and get down our wagers. However, I think the impediments are those gangsters who call themselves the NFL and the NCAA, just to name two.
As soon as they figure out how to cut our their own vig from the wagers placed, while making the entire betting enterprise look legitimate, they will convince the state governments (except perhaps Utah) to allow sports betting franchises and outlets.
Yet, taxation does concern me. I live in Colorado and have watched the legalization of weed, and the taxation of the industry unfold. The state and local governments have, predictably, become very greedy in taking their "vigs." It is possible, I would say likely, this greed will be extended to sports wagering. After all, the state "tax" on lottery winnings is about 50%, since only about 50% of the proceeds are paid back in winnings.
It's all about the money and who gets their "fair" share. Just a matter of time, but will the payouts be worthwhile?
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I agree with much of the commentary above and think it is only a matter of time before we all can stroll down to our local book and get down our wagers. However, I think the impediments are those gangsters who call themselves the NFL and the NCAA, just to name two.
As soon as they figure out how to cut our their own vig from the wagers placed, while making the entire betting enterprise look legitimate, they will convince the state governments (except perhaps Utah) to allow sports betting franchises and outlets.
Yet, taxation does concern me. I live in Colorado and have watched the legalization of weed, and the taxation of the industry unfold. The state and local governments have, predictably, become very greedy in taking their "vigs." It is possible, I would say likely, this greed will be extended to sports wagering. After all, the state "tax" on lottery winnings is about 50%, since only about 50% of the proceeds are paid back in winnings.
It's all about the money and who gets their "fair" share. Just a matter of time, but will the payouts be worthwhile?
I am in the east coast.. I would love Jersey or Indy to have it legalized. Vegas is too bloody far. I am willing to take an 8 hour drive to lay 10-20k on a game.. they gotta do it. So much revenue for the state.. Vegas has it..have one in the east..
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I am in the east coast.. I would love Jersey or Indy to have it legalized. Vegas is too bloody far. I am willing to take an 8 hour drive to lay 10-20k on a game.. they gotta do it. So much revenue for the state.. Vegas has it..have one in the east..
I despise locals. They are all scumbags. I knew a guy who had a conscious and he quit being a bookie. Anybody know what a bookie does on Mondays during the football season? First they call the losers cell phones. Then they call the losers land lines or visit them in person. The wife answers and know exactly who it is and why they are calling. Hate come through the phone. In the background as the loser gets called to the phone you hear all the sounds of a family breaking. The wife is screaming, the kids are crying, yea, swell people those locals. Real nice guys.
Ya cant blame locals for people making poor decisions. Online books simply force you to deposit money before you bet it, thus eliminating the chance they dont get paid. People get in trouble when they can bet without having to put any money down first....
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Quote Originally Posted by lordzud:
I despise locals. They are all scumbags. I knew a guy who had a conscious and he quit being a bookie. Anybody know what a bookie does on Mondays during the football season? First they call the losers cell phones. Then they call the losers land lines or visit them in person. The wife answers and know exactly who it is and why they are calling. Hate come through the phone. In the background as the loser gets called to the phone you hear all the sounds of a family breaking. The wife is screaming, the kids are crying, yea, swell people those locals. Real nice guys.
Ya cant blame locals for people making poor decisions. Online books simply force you to deposit money before you bet it, thus eliminating the chance they dont get paid. People get in trouble when they can bet without having to put any money down first....
Hard to imagine no gambling over there. Here in Australia it basically mandatory that you have to gamble on a sport of your choice or horse races, if you don't you are shun from the community you will get fired from your job quickly because your not talking about the odds of teams winning or anything and wont get along with anyone.
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Hard to imagine no gambling over there. Here in Australia it basically mandatory that you have to gamble on a sport of your choice or horse races, if you don't you are shun from the community you will get fired from your job quickly because your not talking about the odds of teams winning or anything and wont get along with anyone.
I despise locals. They are all scumbags. I knew a guy who had a conscious and he quit being a bookie. Anybody know what a bookie does on Mondays during the football season? First they call the losers cell phones. Then they call the losers land lines or visit them in person. The wife answers and know exactly who it is and why they are calling. Hate come through the phone. In the background as the loser gets called to the phone you hear all the sounds of a family breaking. The wife is screaming, the kids are crying, yea, swell people those locals. Real nice guys.
Losing a thousand bucks to a bookie is no different than losing it to an online book or a state lottery agent. Only difference is you pay up front. So the crying kids are already going hungry Saturday night.
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Quote Originally Posted by lordzud:
I despise locals. They are all scumbags. I knew a guy who had a conscious and he quit being a bookie. Anybody know what a bookie does on Mondays during the football season? First they call the losers cell phones. Then they call the losers land lines or visit them in person. The wife answers and know exactly who it is and why they are calling. Hate come through the phone. In the background as the loser gets called to the phone you hear all the sounds of a family breaking. The wife is screaming, the kids are crying, yea, swell people those locals. Real nice guys.
Losing a thousand bucks to a bookie is no different than losing it to an online book or a state lottery agent. Only difference is you pay up front. So the crying kids are already going hungry Saturday night.
Hard to imagine no gambling over there. Here in Australia it basically mandatory that you have to gamble on a sport of your choice or horse races, if you don't you are shun from the community you will get fired from your job quickly because your not talking about the odds of teams winning or anything and wont get along with anyone.
Australia was founded by convicts, who love gambling more than anyone.
In the US, there is a combination of Christians (who don't want to allow anything "immoral") and the Mob who keep gambling illegal.
In the US, sports gamblers are among the lowest of the low, just slightly higher in stature than a heroin addict. An honest homeless bum is more respected here than someone who talks about spreads.
I think part of the reason is that for a lot of people here Sport is on the same level as Religion.
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Quote Originally Posted by Bet_The_House:
Hard to imagine no gambling over there. Here in Australia it basically mandatory that you have to gamble on a sport of your choice or horse races, if you don't you are shun from the community you will get fired from your job quickly because your not talking about the odds of teams winning or anything and wont get along with anyone.
Australia was founded by convicts, who love gambling more than anyone.
In the US, there is a combination of Christians (who don't want to allow anything "immoral") and the Mob who keep gambling illegal.
In the US, sports gamblers are among the lowest of the low, just slightly higher in stature than a heroin addict. An honest homeless bum is more respected here than someone who talks about spreads.
I think part of the reason is that for a lot of people here Sport is on the same level as Religion.
In the US, sports gamblers are among the lowest of the low, just slightly higher in stature than a heroin addict. An honest homeless bum is more respected here than someone who talks about spreads.
I have some insane conversations with people regarding sports gambling. The look I get is one of "OH....you have THAT problem."
No I don't have THAT problem. Betting a bit on an otherwise meaningless football game makes it infinitely more entertaining to watch. Betting what I can afford to lose doesn't necessarily lead to living in a cardboard box and blowing a guy for your next sandwich.
Never, I repeat never mention to anyone you are having a good year. That you are up. You will never be believed. You are a lost crack head with a really bad gambling problem if you ever mention that. It is best to always say...
"Yea, I lose, but I lose slowly and I don't bet much."
Always leave the conversation at that. Because as soon as you leave the room you are going to get slandered. Bet on it.
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Quote Originally Posted by thorpe:
In the US, sports gamblers are among the lowest of the low, just slightly higher in stature than a heroin addict. An honest homeless bum is more respected here than someone who talks about spreads.
I have some insane conversations with people regarding sports gambling. The look I get is one of "OH....you have THAT problem."
No I don't have THAT problem. Betting a bit on an otherwise meaningless football game makes it infinitely more entertaining to watch. Betting what I can afford to lose doesn't necessarily lead to living in a cardboard box and blowing a guy for your next sandwich.
Never, I repeat never mention to anyone you are having a good year. That you are up. You will never be believed. You are a lost crack head with a really bad gambling problem if you ever mention that. It is best to always say...
"Yea, I lose, but I lose slowly and I don't bet much."
Always leave the conversation at that. Because as soon as you leave the room you are going to get slandered. Bet on it.
That's correct Lordzud. In my experience, if I happen to mention I won a particular game, most people expect me to buy the next round of drinks. Yet, they sure as hell don't offer to buy me a drink when I mention that I lost a game.
We sports gamblers are scum in most people's eyes. But I'm not running a popularity contest and I really don't care what people think.
I'm divorced, but not because of my penchant for gaming. The very first thing I ever tell a new lady friend is that I play cards and bet sports and go to Vegas as often as possible. She will NOT change that! Some have stuck around, others have fled. Yet, each and every one of them knows how to scratch off the stuff on the scratch tickets they get at the convenience store.
And I'm the degenerate
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That's correct Lordzud. In my experience, if I happen to mention I won a particular game, most people expect me to buy the next round of drinks. Yet, they sure as hell don't offer to buy me a drink when I mention that I lost a game.
We sports gamblers are scum in most people's eyes. But I'm not running a popularity contest and I really don't care what people think.
I'm divorced, but not because of my penchant for gaming. The very first thing I ever tell a new lady friend is that I play cards and bet sports and go to Vegas as often as possible. She will NOT change that! Some have stuck around, others have fled. Yet, each and every one of them knows how to scratch off the stuff on the scratch tickets they get at the convenience store.
A betting exchange, like Matchbook is a sports betters dream. They charge only 1% to losing bets while your local charges 10% to losing bets. Crunch the numbers people, at Matchbook you need to win 50.5% of the time to break even, with your local you need to win 55% of the time.
Not quite.
Betting 11 to win 10 is common with most all books. That's the industry standard. With that juice, you only need to win 52.4% of the time to break even, not 55%.
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Quote Originally Posted by lordzud:
A betting exchange, like Matchbook is a sports betters dream. They charge only 1% to losing bets while your local charges 10% to losing bets. Crunch the numbers people, at Matchbook you need to win 50.5% of the time to break even, with your local you need to win 55% of the time.
Not quite.
Betting 11 to win 10 is common with most all books. That's the industry standard. With that juice, you only need to win 52.4% of the time to break even, not 55%.
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The rake, the vigorish, whatever you want to call the bookies take dwarfs what you would pay in taxes if you look at your betting history. Analysis of your betting history will support what I'm saying if you go back and study it. 
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