View Full Version : Multinational companies lining up American gambling market

Funk Butter
26-10-2012, 10:03 PM
The state of New Jersey is on one side, planning to accept legal sports bets at its casinos and horse tracks in 2013, a violation of federal law. On the other is a consortium of sports organizations, the NFL and NCAA chief among them, which opposes all sports wagering and have filed suit to stop it.

Hovering on the outside is the gambling industry, including international bookmakers who are quickly positioning themselves if New Jersey wins and a gold rush of action begins in the United States.

New Jersey could see Las Vegas-style sports wagering very soon. (AP)"The U.S. is obviously a major, major market," said Joe Asher, president of William Hill US, a division of Britain's largest bookmaker which this summer completed the licensing on a $55 million purchase of three American sports wagering companies. "If it opens and becomes legal, there will be a number of people looking to expand in the Unites States. The companies already active in the U.S. will have an advantage."

I shouldn't get excited as I doubt Georgia will ever let people bet on anything not called a lottery, something that isn't just dumb luck. It's only been a few months since we've been allowed to buy beer from the grocery store on Sunday.

Funk Butter
16-02-2013, 01:47 AM

Across three hours Thursday afternoon in a federal court in Trenton, N.J., the initial battle began in a long legal war over a potentially seismic shift in the way sports are consumed in America.

The dueling lawyers on each side of NCAA v. Christie presented initial arguments on the constitutionality of a 1992 federal law that effectively bans full sports wagering outside of Nevada.

New Jersey voters, legislators and its governor the case's namesake, Chris Christie have pushed to open full sports books in Atlantic City casinos and horse tracks across the state. They passed a law last year and planned on issuing licenses last month. New Jersey Gov. Chris Christie is picking a fight with the federal government. (AP)

"If someone wants to stop us, then let them try to stop us," Christie declared last May.

Thursday they came to stop him, lawyers representing a parade of sports organizations (NCAA, NFL, NBA, MLB, NHL) as well as the United States Justice Department, who jumped in late last month.

It is a heavyweight fight, pairing off the Justice Department of President Obama against the government of Christie, who may well run to succeed him in 2016. Each side is employing a connected former U.S. solicitor general, rich legal teams and, with billions of potential dollars on the table, the expressed interest to take this to the bitter end.

That likely means the Supreme Court. The loser of this initial decision expected in a few weeks will certainly appeal and the loser of that appeal will certainly appeal and so on. The case seems destined for consideration by the Supreme Court in 2015 or 2016.
I can't believe how backwards Americans think sometimes. I'll be dead I think before sportsbooks proliferate in the US.

Funk Butter
23-04-2013, 03:33 PM
LONDON (Reuters) - Gambling company 888 Holdings Plc expects to launch online poker in Nevada this summer and should start to see the full effects of more open U.S. markets from 2015.

Nevada, home to gambling center Las Vegas, granted the London-listed company a license last month and 888 is also seeking clearance to operate in New Jersey, another state where a ban on Internet betting is being lifted.

"In Nevada we are awaiting final sign-off by the gaming control board on our software," 888 CEO Brian Mattingley told Reuters on Tuesday, adding that its online poker product should be live by the third quarter.

Mattingley was optimistic that New Jersey, another center for land-based American gambling, might clear the way for both online casino and poker games when detailed legislation is finalized, rather than limiting it to poker as is the case in Nevada.

23-04-2013, 05:51 PM
Buy 888 holdings, may have missed the boat :(

Funk Butter
23-04-2013, 05:58 PM
Buy 888 holdings, may have missed the boat :(
Perhaps. I know that William Hill has also been granted a Nevada license, so they would have competition from them if it were legalized.
888 shares rose 0.7 percent to 167.7 pence by 0415 EDT (0815 GMT).

The prospects for a return to the United States helped drive a doubling in 888's share price since the middle of 2012 and the company is now worth almost 600 million pounds ($915 million). ($1 = 0.6560 British pounds)

Pistol Knight
23-04-2013, 06:02 PM
worst thing that has happened here is the gambling, its everywhere, and its not good in general IMO

Funk Butter
05-06-2015, 08:37 PM

On Tuesday, [Nevada} Governor Brian Sandoval signed Senate Bill 443 to legalize sports betting investment funds. In other words, screw the stock market, I’m putting my retirement on five-team parlays from here on out.

SB 443, which I first detailed when it was introduced in 2013 by Reno Senator Greg Brower, allows for the creation of business entities to pool funds from investors located anywhere in the U.S. to place bets in Nevada sports books and share in the profits and losses of those wagers.

This means that residents of the 46 states with no form of sports betting — aside from the non gambling form of gambling known as daily fantasy sports — can finally access Nevada sports books.

However, unlike walking directly up to a sports book and placing an anonymous wager, gambling through these new sports pools will require disclosure of every member and bet placed. SB 443 requires that the entity register with the Nevada Secretary of State, maintain its funds in a Nevada bank, and disclose the name, photo IDs, Social Security numbers, and addresses of every member of the pool. Doing so will ensure that each member is at least 21-years-old and will help Uncle Sam collect taxes.

David Black
04-07-2016, 11:47 AM
What a strange backwards place. Can buy an assault rifle in a supermarket but gambling is the work of the devil. lol

Funk Butter
21-10-2016, 01:45 PM

A congressional committee is reviewing federal gambling laws, including the 24-year-old prohibition on sports betting, and plans to introduce comprehensive legislation that also will address daily fantasy sports and other forms of gaming. In a statement to ESPN, U.S. Rep. Frank Pallone Jr. from New Jersey said current federal gambling laws are "obsolete" and "in desperate need of updating," including those that deal with sports betting. Pallone's office did not provide a timeline for the new legislation, but communication with stakeholders is underway.

Americans are not having trouble finding ways to bet on sports. Despite the prohibition, the American Gaming Association estimates $149 billion is bet illegally on sports in the U.S., mostly with unregulated offshore sportsbooks and local bookmakers. In comparison, $4.3 billion was bet in 2015 at Nevada's regulated sportsbooks.

Funk Butter
15-05-2018, 02:43 AM
So here we are six years after New Jersey challenged a law that limited sports betting to basically Nevada. And they won.

The Supreme Court just released its ruling on the state of New Jersey’s challenge of a federal law that prevented sports gambling from being legalized on the state level. In a 7-2 decision, the court ruled that the federal anti-sports gambling law was unconstitutional, giving New Jersey, and every other state for that matter, the authority to legalize sports gambling.

Samuel Alito writes, “a more direct affront to state sovereignty is not easy to imagine,” about the federal ban on sports gambling. Now it’s up to each state individually to decide if they want to legalize sports gambling, and if so how they want to regulate it.