Should Gambling on the NFL be legalized?

[Dagonet]

I was driving home yesterday from PT and taking the country way while sipping on a cold, frosty beverage. I was listening to the Fast Lane on E$PN 101 and this subject came up. I found it interesting as David Stern is in favor of legalized gambling for the NBA and has spoken with other league commissioners about it.

I think the tax benefits would be greatly beneficial, considering right now the majority of NFL bets are in the underground economy. I also like what Randy said about the issue. You wouldn't have a problem financing new stadiums as some of the tax revenue from gambling could go to paying for the stadiums. People are going to wager regardless, so why not bring it out of the underground economy? As they discussed on the show, I see no difference in it than playing the Stock Market. I could be wrong.

I know many of you on here use the Sports Book and wager ROD $$$ here, so one reason I ask. Just think, CGI and the guys could turn the ROD $$$ into real ones if legalized. A good way to help finance the site.



Here is the segment in which they discussed it. You'll have to fast forward to like the 12 minute mark if you don't wish to hear the Blue Note talk.

 

[iced]

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[Dagonet]

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delete or merge? And my apologies if it's been posted.

 

[iced]

delete or merge? And my apologies if it's been posted.

i posted something but then did some research..

Apparently sports betting is illegal - but yet I've been finding Casino's outside the 4 main states where it's legal are also allowed to take bets.... and it seems there is nothing illegal about sports betting online in some states (don't know how many, Florida for sure lol).

interesting on sports betting is legal depending on how/where you bet

 

[jjab360]

Honestly I never was clear on the legality of in the first place, I know a few people who've been betting online for a while now.

 

[mr.stlouis]

I thought it was legal. It's easy to bet online. You find several sites to bet on via a Google search.

 

[tklongball]

It is a state by state decision, like it is supposed to be. Each state decides if it wants gambling to be legal, and to what extent. Nothing for the Federal Government to say about it, unless they want to overreach their bounds AGAIN. LOL

 

[Dagonet]

Do these online books pay taxes to states that it is legal in?

 

[Dagonet]

I thought it was legal. It's easy to bet online. You find several sites to bet on via a Google search.

When I did some research on it at the beginning of this past season, the only Sports Books I could find were ones that getting a timely payout was like pulling teeth. I'd rather have a local place to go and place a wager, walk in the next day and collect my winnings. I'll have to google it again sometime me think though. Thanks.

 

[LACHAMP46]

I thought betting was legal? Where does my barber get those lil green cards from then? The pick 6's...the college games...?

 

[jsimcox]

Over here we can bet on pretty much anything, including NFL. I assume some of the websites are available to you guys as well?

 

[Dagonet]

I thought betting was legal? Where does my barber get those lil green cards from then? The pick 6's...the college games...?

LOLOL.. Reminds me of my days in Columbus, OH. We had these roach coaches as we called them come by at breaks and lunch. They were food trucks naturally. All the drives had cards on them too. You could even do 10 team parlay's.. :eek:

Thanks for bringing back the memories Champ.

 

[iced]

Do these online books pay taxes to states that it is legal in?

Some of them aren't even based in the US... usually people sometimes have problems collecting their winnings so always do research on the site's reputation with payouts before gambling...

My friend's mentioned a good one awhile back that was great - you got your winnings instantly and they gave you an ATM card for your own account that you could use.

 

[HX76]

I couldn't imagine not being allowed to have a flutter. I love betting on the nags and football every week. Just wish I won more than I lost!

 

[Dagonet]

Some of them aren't even based in the US... usually people sometimes have problems collecting their winnings so always do research on the site's reputation with payouts before gambling...

My friend's mentioned a good one awhile back that was great - you got your winnings instantly and they gave you an ATM card for your own account that you could use.

Iced, the online stuff is cool, don't get me wrong. I appreciate the info and warnings. The point of this is in legalizing it here in the States so they could tax it. I guess I should've put that in the title and poll. What I mean is like the off-track betting on horses so to speak. An underground bookie can now become legal in your city/town/village, and sets up shop. He collects taxes on peoples winnings like any other retail store, and pays taxes on his winnings and juice winnings.

Granted I'm sure the state and feds would put restrictions on legal bookies as they do everything else like butchers, people wanting to sell their own food and etc. I digress though. I like the idea of taxing gambling winnings to help build new stadiums though.

 

[LesBaker]

I couldn't imagine not being allowed to have a flutter. I love betting on the nags and football every week. Just wish I won more than I lost!

You promised me that you'd provide British to English translations on request LOL.

A flutter is a bookie or a bet or what?

 

[iced]

Iced, the online stuff is cool, don't get me wrong. I appreciate the info and warnings. The point of this is in legalizing it here in the States so they could tax it. I guess I should've put that in the title and poll. What I mean is like the off-track betting on horses so to speak. An underground bookie can now become legal in your city/town/village, and sets up shop. He collects taxes on peoples winnings like any other retail store, and pays taxes on his winnings and juice winnings.

Granted I'm sure the state and feds would put restrictions on legal bookies as they do everything else like butchers, people wanting to sell their own food and etc. I digress though. I like the idea of taxing gambling winnings to help build new stadiums though.

i understand - i was also thinking but should have mentioned it also probably depends on which states have state taxes and the like...like, for example, florida doesn't, but CA would

 

[Dagonet]

i understand - i was also thinking but should have mentioned it also probably depends on which states have state taxes and the like...like, for example, florida doesn't, but CA would

Very good point. But I think most states would tax something like gambling. It's like a consumption tax and not an income tax? maybe I am wrong?

 

[Dr C. Hill]

It should be.
True story:
Many moons ago, I had a "friend" who worked in a correctional facility. One of the inmates started up a publicly traded company that handled action for those of us not in Nevada at the time. He made 10's of millions of dollars simply taking sports bets from an offshore location. The problem was, it was against the Federal Wire act, at least that is how the jury saw it. His company paid the people who won, and the people that lost paid him, so there was no fraud involved. He did not know that he had even broke the law since he was not based in the USA.

Most hardcore fans have placed a wager with someone at some point. I don't see why that should be illegal, but loosing everything at a casino playing video poker is?

If people are going to do it anyway, why not regulate and tax it? If gambling is already legal in a state, why should a sportsbook be any different?

The person's company that I am speaking about took in 4 billion big one's, and 98% came from the USA. I guess you can see why my "friend" moved on to a different line of work.