“Gambling on Sports-Over-Under-Trouble?”
The NFL used to control everything. Snap their fingers, and things got done. Make a strong statement, and people got in line.
The Supreme Court changed all that with its (7-2) vote to overturn a law that made sports gambling illegal across the country.
In the specific ruling, the Court sided with New Jersey that the ban was unconstitutional, and that this was a state’s right issue, not a federal law.
And now the states will scramble to determine how to put state-wide gambling into effect. How to operate it, how to write the rules about it, and how to tax it.
And the tax rules are the sales pitch why state’s will move on this quickly, for profits and revenues. Every state in the nation needs additional revenue streams. Taxing 150B in bets will provide that.
Nevada no longer has a monopoly on this industry. It will be everywhere, from race tracks in New York, to casino boats on the Mississippi, to the Indian based operations on reservations.
It is estimated gambling, via Vegas, or thru street corner bookies, has become a 150B-business. Want a cut of that?
Pro sports on going statements about protecting the integrity of their games is utmost of importance. But in all likelihood that is empty rhetoric, especially in today’s games, where all the players make enormous amounts of money.
Of course we have had scandals, dating from the 1919 Black Sox World Series scandal, to Pete Rose banishment from baseball, to the suspensions of Paul Horning and Alex Karras for betting, to the Boston College and CCNY point shaving scandals, and the referee issue with Tim McGonaghey.
The NBA, NCAA, NHL have all had varying opinions on legalized gambling on games. Only the NFL was steadfast in its fight to prevent it.
Now the NFL, and everyone will take a different stance.
I predict Congress will be asked to develop parameters, and then the NFL and the other leagues, will demand an ‘integrity fee, a right to collect a share of the tax revenue raised in each state from gambling revenue streams.
The NFL, forever and ever, told people what to do. Now they want to profit after being told what they could no longer do, ban betting on the games they play.
Now the sports leagues want their share of the money you bet, on their product, the games they play, you will bet on.
What’s the over-under on that happening.