Americans bet $125B on sports in 4 years since legalization

[Stevicus]

Americans bet $125B on sports in 4 years since legalization | AP News

ATLANTIC CITY, N.J. (AP) — Americans have bet more than $125 billion on sports with legal gambling outlets in the four years since a U.S. Supreme Court ruling cleared the way for all 50 states to offer it.

On Saturday’s anniversary of the decision in a case brought by New Jersey, two-thirds of the states in the country have legalized sports betting.

In just four years, the industry has worked itself into the daily lives of millions of Americans — from those who plunk down money hoping for a certain outcome to those who watch TV broadcasts with odds calculations to those struggling with gambling problems.

You don’t have to be a gambler — or even a sports fan — to be affected: The industry tsunami of advertising is practically impossible to avoid, particularly on TV and radio but in other media as well. For example, FanDuel is the official odds provider for The Associated Press.

On May 14, 2018, the Supreme Court decided a case that had begun 10 years earlier in New Jersey as the longest of long shots: a bid to overturn a federal law, the Professional and Amateur Sports Protection Act, that restricted sports betting to just four states that met a 1991 deadline to legalize it.

To comprehend just how much $125 billion is, consider this: It’s a bit more than the amount that was spent on pet food, supplies and veterinary care in the entire country last year, and more than the net income for America’s farmers last year.

Of course, much of that money was paid out to people who won bets. After expenses, the sportsbooks generally keep less than 10% of the total amount of bets they handle. Over the first four years of legal betting, their revenue figure is $8.8 billion, according to the American Gaming Association, the gambling industry’s national trade group.

A major rationale for the push to legalize sports betting was to protect customers from being victimized by unlicensed bookmakers, many operating as part of organized crime. State regulations include robust consumer protections, with watchdog regulators ready to pounce when they see violations.

I thought this was interesting, since there has been more and more gambling in America overall. When I was a kid, gambling tended to be associated with just Nevada and Atlantic City. Even state lotteries weren't all that common, and they were nowhere near the big bonanza of the Powerball or MegaMillions that we have today. Sports books existed, but they were generally illegal and underground, in the realm of organized crime. Even where it was legal, organized crime seemed to dominate, such as the Mob's control of Vegas up until the 70s and 80s.

But there are also those who think of gambling as evil and a terrible vice, something that respectable people wouldn't do. My paternal grandparents had that view, as they saw any winnings from gambling as the same thing as stealing it. I even recall a local Catholic church was under attack for running bingo games (to raise money for the church), but since it involved gambling, some people were against it.

But now, it seems that societal attitudes have changed quite a bit. Gambling seems to be a big industry now. But as a result, the article mentioned that this has increased the number of problem gamblers out there.

As for me, I've never been much of a gambler. I've dabbled in it, but I'm just not very lucky. Never gamble more than you can afford to lose.

Any gamblers here? Is there anyone who believes that gambling is against their religion or that it could be seen as stealing? Should gambling be legal?

 

[ChristineM]

Not American, not a gambler, so my opinion for what it's worth, it may not be worth much.

Gambling can be addictive, it can break apart families, leave people homeless, so it should not be legal and illegal gambling should be dealt with with the full force of the law.

However it is legal so the body who legalised it should take responsibility for their actions and provide adequate support for the hardship they have caused

 

[Shadow Wolf]

I just play poker.

 

[Shadow Wolf]

Not American, not a gambler, so my opinion for what it's worth, it may not be worth much.

Gambling can be addictive, it can break apart families, leave people homeless, so it should not be legal and illegal gambling should be dealt with with the full force of the law.

However it is legal so the body who legalised it should take responsibility for their actions and provide adequate support for the hardship they have caused

Alcohol can do that. What makes gambling different?

 

[ChristineM]

Alcohol can do that. What makes gambling different?

Nothing, alcohol should be treated the same way

 

[Shadow Wolf]

Nothing, alcohol should be treated the same way

That "not be legal" part, that doesn't work except to make dangerous criminals rich and powerful. Do people across the pond tend to know the name Al Capone? That's what illegal alcohol got us, and it was the same with illegal gambling.

 

[Subduction Zone]

It is better to be legal and with some control over it than illegal. The internet is international so banning gambling in the US did nothing. Do you think that gambling miraculously climbed to that number from nothing? I am sure that it increased a bit, but very few gamblers paid any attention to US laws against it. Keeping it illegal only supports organized crime. There will still be organized crime associated with it, but now they get a much smaller slice of the pie.

 

[Suave]

Americans bet $125B on sports in 4 years since legalization | AP News





I thought this was interesting, since there has been more and more gambling in America overall. When I was a kid, gambling tended to be associated with just Nevada and Atlantic City. Even state lotteries weren't all that common, and they were nowhere near the big bonanza of the Powerball or MegaMillions that we have today. Sports books existed, but they were generally illegal and underground, in the realm of organized crime. Even where it was legal, organized crime seemed to dominate, such as the Mob's control of Vegas up until the 70s and 80s.

But there are also those who think of gambling as evil and a terrible vice, something that respectable people wouldn't do. My paternal grandparents had that view, as they saw any winnings from gambling as the same thing as stealing it. I even recall a local Catholic church was under attack for running bingo games (to raise money for the church), but since it involved gambling, some people were against it.

But now, it seems that societal attitudes have changed quite a bit. Gambling seems to be a big industry now. But as a result, the article mentioned that this has increased the number of problem gamblers out there.

As for me, I've never been much of a gambler. I've dabbled in it, but I'm just not very lucky. Never gamble more than you can afford to lose.

Any gamblers here? Is there anyone who believes that gambling is against their religion or that it could be seen as stealing? Should gambling be legal?

I like blackjack card counting.

I use the Hi-Opt 2 blackjack card counting system in order to determine my deviation from basic strategy play, this in conjunction with a six vs. ace side count to formulate a Zen count for calculating my mathematical win advantage in order to determine my bet amount.

 

[Secret Chief]

I didn't know it had been illegal in the US

I'm not in favour of addictives being legal, generally.

 

[Subduction Zone]

I like blackjack card counting.

I use the Hi-Opt 2 blackjack card counting system in order to determine my deviation from basic strategy play, this in conjunction with a six vs. ace side count to formulate a Zen count for calculating my mathematical win advantage in order to determine my bet amount.

I don't know how on line Black Jack works. but casinos tend to have experts that can tell when people are counting cards. Though not illegal casinos do have the right to trespass anyone from their property that they want to at any time. That is why there are no professional Black Jack players. One may be able to get away with it on the occasional weekend for a while, but sooner or later one will get caught, or perhaps I should say that a counter will raise the suspicions of a casino to the point that they will kick them out.

 

[Subduction Zone]

I didn't know it had been illegal in the US

I'm not in favour of addictives being legal, generally.

I do not like it being legal either. Here is the question, how would you ban it? It is better legal and under some control than illegal and without any control.

 

[Secret Chief]

I do not like it being legal either. Here is the question, how would you ban it? It is better legal and under some control than illegal and without any control.

Yes a toughie. Banning murder doesn't seem to eradicate that either. I do think laws (and education) should present a bulwark against certain behaviours in order to (try) maintain a civilised society. Otherwise, what do we make illegal?

(I drank alcohol for nearly 40 years, so maybe I'm just a hypocrite).

 

[Suave]

I didn't know it had been illegal in the US

I'm not in favour of addictives being legal, generally.

Casinos fund support groups and prevention treatment programs for compulsive gamblers.

I don't know how on line Black Jack works. but casinos tend to have experts that can tell when people are counting cards. Though not illegal casinos do have the right to trespass anyone from their property that they want to at any time. That is why there are no professional Black Jack players. One may be able to get away with it on the occasional weekend for a while, but sooner or later one will get caught, or perhaps I should say that a counter will raise the suspicions of a casino to the point that they will kick them out.

I stay under the pit boss radar by changing up my appearances, and I never spend too much time at the same casino.

 

[Subduction Zone]

Yes a toughie. Banning murder doesn't seem to eradicate that either. I do think laws (and education) should present a bulwark against certain behaviours in order to (try) maintain a civilised society. Otherwise, what do we make illegal?

(I drank alcohol for nearly 40 years, so maybe I'm just a hypocrite).

Not exactly the same thing. Banning murder does greatly reduce it. If one was free to murder Chicago's present murder rates would look like heaven. Banning gambling online was as ineffective as banning breathing. Many people did not even know that it was illegal since it was so easy to do.

By making it legal one opens the doorway to more control. Something that one does not want to do right away. If legal sources offer the same ease and odds that illegal sources do they can quite often out compete them. And one thing that one is more sure of with legal sources is getting paid when one wins. When the illegal sources have diminished then the way is open to taxation and other regulations. It also gives a surer way to prosecute people that use illegal sources. Remember it was the IRS that put Al Capone behind bars, Not the FBI.

If one can tax and regulate then money can be set aside to help those addicted to gambling.

By the way, my gambling is very limited. When either Megamillions or Powerball gets to at least 300 million I will buy one single solitary ticket for $2.00. I know that I will lose, but it is a cheap fantasy. I also know that there is no point in buying more since at my level of buying there is almost no change in my odds of losing by purchasing more than one ticket.

 

[Subduction Zone]

I stay under the pit boss radar by changing up my appearances, and I never spend too much time at the same casino.

That is a good policy, but one can be caught doing it even in a single session. Good luck to you, and just don't push it too hard.


I played blackjack once. I lost a whole $20.00. That would be $40.00 in today's money. Maybe a bit more. Dang that was an expensive lesson

 

[Twilight Hue]

Americans bet $125B on sports in 4 years since legalization | AP News





I thought this was interesting, since there has been more and more gambling in America overall. When I was a kid, gambling tended to be associated with just Nevada and Atlantic City. Even state lotteries weren't all that common, and they were nowhere near the big bonanza of the Powerball or MegaMillions that we have today. Sports books existed, but they were generally illegal and underground, in the realm of organized crime. Even where it was legal, organized crime seemed to dominate, such as the Mob's control of Vegas up until the 70s and 80s.

But there are also those who think of gambling as evil and a terrible vice, something that respectable people wouldn't do. My paternal grandparents had that view, as they saw any winnings from gambling as the same thing as stealing it. I even recall a local Catholic church was under attack for running bingo games (to raise money for the church), but since it involved gambling, some people were against it.

But now, it seems that societal attitudes have changed quite a bit. Gambling seems to be a big industry now. But as a result, the article mentioned that this has increased the number of problem gamblers out there.

As for me, I've never been much of a gambler. I've dabbled in it, but I'm just not very lucky. Never gamble more than you can afford to lose.

Any gamblers here? Is there anyone who believes that gambling is against their religion or that it could be seen as stealing? Should gambling be legal?

If it's legal for the state it should be legal for the private individual.

 

[Secret Chief]

Casinos fund support groups and prevention treatment programs for compulsive gamblers.

Yes and drug dealers might hand out pamphlets on safe injecting but that's not really the issue.

 

[Shadow Wolf]

I don't know how on line Black Jack works. but casinos tend to have experts that can tell when people are counting cards. Though not illegal casinos do have the right to trespass anyone from their property that they want to at any time. That is why there are no professional Black Jack players. One may be able to get away with it on the occasional weekend for a while, but sooner or later one will get caught, or perhaps I should say that a counter will raise the suspicions of a casino to the point that they will kick them out.

I can assure you there are professional Blackjack players.

 

[Quagmire]

̶W̶h̶e̶n̶ ̶I̶'̶m̶ ̶i̶n̶ ̶c̶h̶a̶r̶g̶e̶ if I were in charge, all proceeds from gambling would go to charity, and all losses would be a tax write off.

 

[Twilight Hue]

Not exactly the same thing. Banning murder does greatly reduce it. If one was free to murder Chicago's present murder rates would look like heaven. Banning gambling online was as ineffective as banning breathing. Many people did not even know that it was illegal since it was so easy to do.

By making it legal one opens the doorway to more control. Something that one does not want to do right away. If legal sources offer the same ease and odds that illegal sources do they can quite often out compete them. And one thing that one is more sure of with legal sources is getting paid when one wins. When the illegal sources have diminished then the way is open to taxation and other regulations. It also gives a surer way to prosecute people that use illegal sources. Remember it was the IRS that put Al Capone behind bars, Not the FBI.

If one can tax and regulate then money can be set aside to help those addicted to gambling.

By the way, my gambling is very limited. When either Megamillions or Powerball gets to at least 300 million I will buy one single solitary ticket for $2.00. I know that I will lose, but it is a cheap fantasy. I also know that there is no point in buying more since at my level of buying there is almost no change in my odds of losing by purchasing more than one ticket.

I'm the same way. If I can't win with one ticket, I won't with ten.

I keep my limits in check as well.

I still remember seeing a person literally buy about a hundred lotto tickets and I had the compulsion to advise instead for him to buy something nice for himself, but alas, if that what he wants to do with his money.....