“It’s just wrong for Congress to deny New Jersey what the state of Nevada has.”
“Because PASPA, by its terms, prohibits states from authorizing by law sports gambling, and because the 2014 law does exactly that, the 2014 law violates federal law,” Circuit Judge Marjorie Rendell wrote. Governor of the State of New Jersey et al, 3rd U.S. 14-4546, 14-4568, 14-4569..
New Jersey’s law banned wagers on state college teams and limited bets to people age 21 and older at casinos and racetracks.
“We do have two judges dissenting,” Lesniak said, “and we certainly will take a shot at the Supreme Court.”
It is also a victory for Major League Baseball, the National Basketball Association, the National Football League, the National Hockey League and the National Collegiate Athletic Association, which opposed New Jersey’s laws.
A federal appeals court on Tuesday said New Jersey cannot legalize sports betting, in a big defeat for supporters of the years-long effort to allow such wagers in the state.
Nevada bookmakers made $231.8 million on sports betting in 2015, the state has said.
The 10-2 decision is a defeat for Republican Governor Chris Christie, who has seen courts void two state laws, including one in 2012, designed to raise revenue through sports betting.
Rendell acknowledged the law’s “salutary purpose” in trying to revive those troubled industries, but said PASPA does not unconstitutionally “commandeer” the state.
The case is National Collegiate Athletic Association et al v. Circuit Court of Appeals, Nos. Circuit Court of Appeals in Philadelphia said the 2014 law allowing sports betting at casinos and racetracks violated the Professional and Amateur Sports Protection Act, a 1992 federal law prohibiting the practice in all states other than Nevada, Delaware, Montana and Oregon.
The sports organizations, backed by the U.S. The other thought PASPA was unconstitutional because it violated state sovereignty.
Reflecting the stakes, two former U.S. government, called the law “yet another attempt” to allow sports betting “only under the conditions of the state’s choosing.”
New Jersey argued that its law amounted to only a “partial repeal” of its prohibitions on sports betting, did not “license or authorize by law” such betting, and could help curb the “thriving” black market in the practice.
The American Gaming Association, an industry trade group, wants PASPA repealed.
“We are reviewing the opinion and considering our options,” said Paul Loriquet, a spokesman for state Attorney General Christopher Porrino.
Clement was not immediately available for comment.
“We were relying on having sports betting to give a big boost to our ailing Atlantic City casinos and our suffering racetracks,” state Senator Raymond Lesniak, a Democrat from Elizabeth who sponsored the 2014 law and a 2011 voter referendum allowing sports betting, said in an interview.
(Reporting by Jonathan Stempel in New York; Editing by Lisa Von Ahn and Tom Brown)
One dissenting judge thought the 2014 law permissible despite PASPA. solicitors general were on opposite sides of the case, with Paul Clement arguing for the sports organizations and Theodore Olson representing New Jersey.
Monmouth Park adviser Dennis Drazin says the decision not to allow a casino there and a shortage of horses in the Mid-Atlantic region is hurting the track, which is hosting a 57-day meet this year with live racing held on weekends and holidays. The track held a similar 58-day meet last year.
There was $7,752,605 bet on races at Monmouth Park from bettors across the country this year. The tracks in the Mid-Atlantic region need to figure out a way to share the horse colony.”
With Monmouth Park getting around 20 cents on every dollar wagered on-site, that means the track saw about $149,000 less in revenue this year.
The Asbury Park Press reports (http://on.app.com/280cqLk) that attendance and wagering were down big at the Oceanport racetrack over the three-day holiday weekend compared to last year.. But on-track handle fell to $1,519,687 this season, a decrease of 32.8 percent.
Sports betting also has been strongly opposed by the four major professional sports leagues and the NCAA, who feel it would damage the integrity of the games and lead to a higher incidence of game-fixing.
Monmouth Park also has been very involved in efforts to bring legal sports betting to New Jersey. But the state’s efforts have been stymied by a 1992 federal law that restricted sports betting to Nevada, the only state to allow betting on individual games, and three others that had approved limited multigame parlay pools.
“There’s a horse shortage; all tracks are suffering the same things we are right now,” Drazin said. That’s down from more than $15 million last year.
Monmouth Park held live racing from Saturday through Monday and again hosted the Jersey Shore Food Truck Festival this year, but attendance was down to approximately 42,000. (AP) — It was a rough Memorial Day weekend for Monmouth Park.
Bettors wagered $2,264,176 at the track last year. Last year, attendance was more than 60,000.
Attendance and betting have fallen at New Jersey’s racetracks in recent years, and many officials and some lawmakers have strongly supported calls to add casinos and other expanded gambling opportunities.
OCEANPORT, N.J. “The future is a circuit where we’re not all running against each other and all the tracks are better off
There is no reason to think that were Congress to give its consent in a fairly short period of time we would see a “sports book” in almost every jurisdiction. We will see this trend continue.
NBA Commissioner Adam Silver’s op-ed in the New York Times calls upon Congress to change the nation’s laws to adopt a federal framework that allows states to authorize betting on professional sports. So far, the Rocky Mountain high has not caused Denver to rise about its mile limit. It is time to legalize, regulate and tax it.
Adam Silver’s approach calls for federal legislation that would allow states to decide whether they would authorize sports gambling. It is a courageous position for a sports commissioner to take. Only five states do not have a state lottery, but even some of those states have casino gambling. At the same time, all team sports have discovered the marketing advantages of adopting fantasy games, some of which approach sports gambling when a participant can chose a new team each week.
Gambling on sporting events is legal throughout most of the world.
What then are the chances that the other sports leagues and the politicians will go along with Adam Silver’s proposal? In the short run, I would not bet on it. Professional sports think that gambling means that their games will not be decided on the merits, that fixers will invade their enterprises and cause spectators and fans to lose interest in patronizing their entertainment businesses. We are now experimenting with legalizing marijuana for recreational use. The sports establishment is vigilant in protecting the integrity of the product, and it will remain so if gambling is legalized, regulated and taxed.
We now await input from the commissioners of the football, baseball and hockey leagues. To recognize the reality that hundreds of billions of dollars are bet annually — and illegally — on sports is an enormous breakthrough even if the NBA is the only sport to recognize the fact. For some, the greatest joy comes from gambling on the uncertain outcomes of these contests. However, we have passed the point of trying to decide whether gambling on sports provides some sort of benefit to society. Perhaps fair-minded individuals will see the proposal for what it is — an effort to respond to reality and minimize some of the unfortunate consequences of having to place bets with a bookie in violation of the law. No one has suggested that this fact of the sporting life be abolished, even if it were possible. Alcohol continues to cause much more harm to society than illegal narcotics, but we learned the hard way that Prohibition generated far more problems than it solved. The availability of gambling online makes that easy to accomplish. It is ubiquitous. They should come prepared with an answer.. Once the states impose their regulations and their taxation on this activity, gambling on professional sports in America will be universal.
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There can be little question that sports gambling is a vice — much like drinking and playing the lottery. Of course, gambling depends upon the games remaining unfixed.
How will politicians react to Silver’s proposal? If President Obama likes the idea — he dutifully fills out his bracket each March on the NCAA basketball tourney — then for sure the Republican majorities will oppose any change in the law. They have been steadfast in opposition to the spread of legalized sports betting, most recently with regard to New Jersey’s effort to resuscitate Atlantic City by following the Nevada “sports book” model. I would be surprised if the other commissioners follow Silver’s lead, but they will be asked. Were this to be enacted, state sports gambling would spread like the lottery. Few turn on the games, especially football, without knowing the betting line. What Silver has done is to present the issue for public discussion.
We have entered a new phase of American history where some folks have begun to realize that prohibiting certain vices is foolish or just ineffective.
Gambling on professional sports will go on whatever we do. Adam Silver is right
The exact meaning of the term misdemeanors became the subject of debate while President Clinton held office. He is guarded by the plaintive howls of his peers, whose votes a while back gave them, as members of either the House or Senate, raises of $4,700 and $5,300, while voting against Social Security cost of living raise in both 2010 and 2012. Members of Congress waste millions, if not billions, of tax dollars every fiscal year. The offended audience made it glaringly clear, nearly without controversy, and stressed the need to enforce significant actions to remove him and other similar offenders from office.
At a time when America is floundering in a financial quagmire, one brought on by intellectual cheaters of the fiscal markets, we should rely on leaders to stand tall, ask intelligent questions, and not waste our tax dollars.
It’s time to close the door on wasting tax payer dollars on like inquiries, investigations, and summaries.
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The House also recently entered into an agreement with a comedian to the tune of $120,000, so he could perform his routine for them. It’s time to put a halt to unwarranted waste of our tax dollars by making it a punishable offense.
Inept members of Congress are leaving an appalling blemish upon America. Such is not the case. Some felt that the act of perjury, a federal crime, was an impeachable act. The Representative in this case wasted tax dollars because of his stupidity, taking time away from real business, educated investigation, examination, and analysis.
We, the American public, however, won’t ever see such a process enacted. The rules guarding Senators and Representatives alike should be changed. Congressional inquiries or spending activities that irreverently waste tax payer dollars should be career-enders for those who partake is such activity. While the House may have roared with laughter, the view from the street is quite different. The political leadership of our nation should take note of the collective consternation of the American public, as the displeasure with American politics is clear, as evident with the accompanying video from one southern Congressman.
This professional politician, an obviously inaniloquent, uneducated idiot, one placed into office by maladroit American voters, is but one prime example of the money wasted by an office meant to serve the American people.
Impeachment proceedings may be commenced by a member of the House of Representatives on their own initiative, but you can bet members of the House would never elect to take action or remove a member of their own house from office. The subject debated as to what exactly entailed levels of high crimes and misdemeanors. It wasn’t until the public outcry against the raises was heard loud and clear did they pass legislation to halt the increases.
To some, the questioning process of this Representative is funny. This Representative should be charged with negligence and abuse of power while in office and removed. The Speaker should be held in contempt, fined, and removed from office for the flagrant waste of public tax payers’ money.. It’s time for Congress to parlay this process into one of introspection. But expulsion won’t happen. Wasting tax payers’ money should be considered a misdemeanor.
Congressional inquiries are meant to gather facts and data for legislation. Others felt that this particular act of perjury, while illegal, did not reach that level because his lie was specifically in regard to a matter of personal infidelity and that the questioning that led to it was allegedly politically-motivated.
By: The Anxiolytic
In the aforementioned Representative’s case, he blatantly wasted American tax dollars, for which he should be removed from office
CNNMoney (New York) First published August 31, 2014: 8:14 AM ET
They both believe they can predict the future, and they sometimes fall into the trap of making decisions with their hearts instead of their brains.
At the same time, investing in stocks actually carries higher upside potential.
However, someone sinking $500 into Apple stock has little risk of losing that entire initial investment, especially in the short term. People often invest in funds that buy dozens or even hundreds of stocks, which helps reduce the risk. For example, a stop-loss order instructs a broker to dump a stock when it tumbles below a specific price. It’s easy to see why fans may be tempted to gamble on their favorite teams and athletes.
Related: How $2 billion Clippers bet could pay off
Gamblers and investors also have far different time horizons.
But take it from one person who has lots of experience in both worlds.
“You can hold onto your betting tickets all your life, but you’re not going to get squat,” said Stovall.
Related: 4 reasons September could be good for stocks
The betting appeal: Americans bet an estimated $380 billion each year on sports.
“A lot of people regard investing as gambling, but I frequently say no.
In the long run, investors have the chance to make more money because there are fewer downside risks.
Related: Apple and 9 other stocks hit new records
Investors also have the ability to spread their money out among many stocks. He asked for his identity to be withheld due to legal concerns.
Even the unlucky investors who jumped into the market at its peak in October 2007 eventually made their money back when stocks reclaimed their pre-recession levels in 2013. Which casino in Atlantic City, Las Vegas or Macau pays the bettor 73% of the time?” said Sam Stovall, chief investment strategist at S&P Capital IQ.
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But don’t let those similarities fool you.
And investors have greater access to tools that can minimize the risk of losing money.
Such hedging tools are not as readily or even feasible to sports gamblers, Fine said.
That’s the percentage of time that Stovall’s research shows the S&P 500 — the gold standard in the stock market — has increased in value during the years since 1926. A bettor gambling on the Green Bay Packers will instantly lose his or her entire $500 bet if Aaron Rodgers and his teammates fail to win or cover the spread. Gambling on sports may be more fun, but it’s definitely a more risky use of money than putting it in the stock market.
A stock can theoretically be held onto for an infinite amount of time, but a sports bet can end in the blink of an eye.
“A large, steady company has a low chance of plummeting and causing you to lose all your money, but even Peyton Manning doesn’t cover the spread sometimes,” he said. The stock might go up and down some, but it typically doesn’t go to zero. Gambling on football star Peyton Manning to win might seem like a safe bet, especially compared with picking winners in the stock market. And in neither instance can you be guaranteed to be correct,” said Randall Fine, managing director of The Fine Point Group, one of the casino industry’s largest consulting firms.
“Betting is more difficult and riskier,” said one resident of Hoboken, New Jersey, who bets on illegal gambling sites and also invests in stocks.
All or nothing: Gambling on sports tends to be a zero-sum game.
Manning is really, really good at what he does for a living.
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