OT (sort of) - Supreme Court strike down PAPSA

[ELA]

http://www.espn.in/chalk/story/_/id/23501236/supreme-court-strikes-federal-law-prohibiting-sports-gambling

I have been to the casino in Pittsburgh three times (I think?) in the 8 years it's been open, always just to eat.  I don't enjoy any sort of table games or slots.  But for sports betting....well...

[Cincydawg]

It strikes me as odd that some Federal law could be in effect for 49 states and not Nevada.

[MarqHusker]

yippee.

[847badgerfan]

It strikes me as odd that some Federal law could be in effect for 49 states and not Nevada.

The good fellas who started Las Vegas made the political fellas an offer they couldn't refuse?

[Cincydawg]

"Justice Ruth Bader Ginsburg dissented, and joined by Justice Sonia Sotomayor and Justice Stephen Breyer in part, criticized the majority for wielding an ax to "cut down" down the entire statute instead of "using a scalpel to trim the statute." She suggested the law could be severed for a less broad ruling that would only impact the states and not private parties."

I gather the dissent appears to be based on scope more than the core intent.

[847badgerfan]

Ginsburg defines dissent.

I thought she was moving to France?

[MarqHusker]

she didn't like the method in which the Court ruled.   So yes,  her writing is more about scope, other than some yearning to keep the sports books out of New Jersey.

This is one of those (many) cases where the media invents news.  "Supreme Court sides with legalizing sports gambling'.     Nobody is siding with sports gambling in this decision.

That headline gets a lot more clicks, and papers sold than  "Court rules on statutory interpretation question involving sports gaming'.

[MaximumSam]

Man I love sports books.  If Ohio allows them I may actually go to the casino.  

[FearlessF]

so, the march madness office pool is now legal?

whew!

[Drew4UTk]

funny state laws... 

around here, 'gambling' on a game of skill (such as billiards) is perfectly legal so long as you are a participant.  Gambling on two guys playing you are just watching isn't.  it comes down to a 'game of skill' vs. a 'game of chance'.  I would argue that sports gambling, no matter the level, is more of a game of skill than chance- which is to say knowing the game, the players, the field, the tendencies, ect, is a skill to itself.  Of course I could argue the opposite, too.  Personally, I think gambling on kids playing the sport in non-professional ranks is a terrible business decision, where gambling on pro's is just as bad for a different reason.   

[FearlessF]

unless the "game/contest" is "fixed", it's a gamble

and a very good chance to lose $$$

[betarhoalphadelta]

unless the "game/contest" is "fixed", it's a gamble

and a very good chance to lose $$$

Getting into your car every morning to go to work is a gamble. We pretend it's a game of skill, but there's always a chance that some other driver is going to kill you. But the reward of actually going to work so you can pay your bills is worth the risk of dying, given the low odds of dying.
Sports betting is a gamble. But it's not a game of fixed odds such as blackjack, roulette, etc. It's a game where the oddsmakers are trying to evaluate, based upon the team, where to set the spread. To be a sports bettor, you're making the statement you think you know--at a better than even rate, when the oddsmakers are wrong.
In that sense, it's actually closer to stock investing [at a day-trader level]. You're banking on your ability to be ahead of the crowd, and accurately determine the next move of a stock when deciding whether to buy or sell. The price of a stock depends on the aggregate behavior and beliefs of a great many investors. The key is to understand before others do which trends will drive the stock price, i.e. to determine when "the market" is currently wrong, and which direction it's wrong. 

[TyphonInc]

Ohio among states itching to OK sports betting

"16 states will introduce bills to regulate sports betting this year, with 11 — including Ohio — having a good chance of passing legislation."

[TyphonInc]

WOW. This was so far off my rader, I'm shocked; but now hearing the following, i feel naive for not thinking about it.

NFL and NBA want their cut of the gambling pie. Nevada Gambling commision has never paid any of the leagues for sports betting, but now that the federal ban has been lifted the NFL wants a federal regulation implmented. (WTF?!? I really think the NFL missed the point of the ban getting lifted.) and they want the new Federal (State if needed) regulations to include 1% of all wagers to go to them. WOW! From listening to ... what ever Mike and Mike has become ... the NBA is also seeking to get paid from sports betting.