Category Archives: Sport gambling

Sport gambling

Don’t Bet on It: Sports Gambling in America

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

Sports betting vs. the stock market: Which is riskier?

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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NMLS #1136

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To put it another way, the stock market is a lot more forgiving than the MGM Grand (let alone your local sports bookie).

The same can’t be said for those who bet big on the Denver Broncos last Super Bowl. And of course, they both hate to lose.

“You’re making a wager based on some facts and some intuitions. Heck, even his commercials are funny.

Those are pretty good odds. While many stocks offer steady returns, investors sometimes hit the jackpot (think: buying Apple back in early 2009 or Tesla in 2012)