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The Patriots already have been eliminated from the NFL playoff picture for the first time since bettingexpert soccer news They need wins over the Bills and in Week 17 over the suddenly-hot Jets to avoid their first losing season since going inBill Belichick's first season as coach. Kickoff is set for p. Buffalo is a 7. Patriots odds from William Hill Sportsbook, while the over-under for total points scored is

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So what will happen is they will not be able to offer the same attractive lines to their customers, so the customers will probably continue betting offshore. The states closest to implementing gambling are the states where casinos play a big role in state politics—New Jersey, West Virginia, Mississippi, Connecticut, Pennsylvania—and those states are likely to craft laws that protect those entrenched special interests.

Online gambling seems like a no-brainer, but Mississippi law will allow only in-person wagers at their 28 casinos to buoy the foot-traffic for local brick-and-mortar establishments. In California and Connecticut, Native American tribes are arguing that tribal governments have the exclusive rights to offer sports betting.

That mess is why the pro leagues would rather legalize sports betting through Congress with a uniform federal solution than fight dozens of separate battles over integrity fees and data licensing with various state legislatures.

But given the complexities of passing laws in the current political climate, a federal solution appears unlikely , so all of these concerns—integrity fees, data rights, online gambling, types of wagering, tax rates—are likely to be determined at the state level. There is also the issue of what states will do with the newfound money.

States may follow the example of West Virginia, the epicenter one of the largest teachers strikes in years , where lawmakers earmarked sports-betting revenues to compensate teachers. But if state lotteries, the spiritual predecessor to legal sports gambling, provides any blueprint, the sports-betting revenue that ends up in state coffers may not go to the places politicians promise.

Across the country, state lottery money earmarked for education is sometimes diverted to other causes. A CBS report found that education spending dropped or flattened in 21 of the 24 states that earmark lottery funds for education. But no matter what states earmark sports-betting revenues for, lawmakers may find there is less money involved than they initially believed. The stage is set for a complex battle that could take years across dozens of states before all the dust settles.

And in the end, there might not be enough cash to go around to make any one group truly happy—except one. Which teams will be buying and selling before the deadline? And which players might be on the move? Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from.

By choosing I Accept , you consent to our use of cookies and other tracking technologies. Filed under: Gambling Politics Sports. Flipboard Email. Sign up for the The Ringer Newsletter Email required. I went home one night after work and realized my wife also lived in that house, so I would need to convince her that I wanted to risk putting our family on the street.

I should explain that I am not good at breaking big news, specifically the timing part of breaking big news. What better way to celebrate the love of your life than by explaining that the home we had worked decades to afford a down payment on could potentially be transferred to a stranger who spent 30 seconds scribbling down a few school names? Well, it worked like a charm. My wife actually began weeping. When she recovered emotionally, she agreed to the contest … sort of.

She announced she was never leaving the house, so she would just live with whoever won. I pictured in my mind my children being raised by the scumbag Russian hacker who was able to create an algorithm to beat my gimmick. I checked in with other family members.

When I told my mother, she disgustedly shook her head. When I told my Aunt Chippy, she smacked me. After the concussion I suffered at her nicotine-stained hands subsided, I decided to sit down and do the math. I figured that if things went awry and there was a perfect bracket still alive going into the final week, I would fly my fat ass out to Vegas and keep betting the results the perfect bracket had.

For a few thousand dollars I could hedge my way back to the market value of my abode. The contest would run on FoxSports. We started with , entries. I requested a full report from the web engineer after every four games as to how many people remained. By the end of Thursday night there were 15, left, and after Friday night there was exactly one perfect bracket remaining.

That lone survivor would have to pick the next 35 games correctly. Not happening. In fact, the dude was eliminated after the first game on Saturday. What kind of masochistic feeling was this? Kind of like asking for your broken finger to be amputated when all it needs is a splint.

But he can afford it. I own one house. Warren Buffett owns Nebraska. Yet even he knows not to go overboard with this gimmick. Maybe have a perfect bracket through two weekends? Perfect through the first three rounds? Pick the play-in games right and you get to live in the garage. All rights reserved. This excerpt has been lightly edited for clarity. Which teams will be buying and selling before the deadline?

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If the bookmakers have to pay an integrity fee and a licensing fee and high taxes in some of the states. So what will happen is they will not be able to offer the same attractive lines to their customers, so the customers will probably continue betting offshore. The states closest to implementing gambling are the states where casinos play a big role in state politics—New Jersey, West Virginia, Mississippi, Connecticut, Pennsylvania—and those states are likely to craft laws that protect those entrenched special interests.

Online gambling seems like a no-brainer, but Mississippi law will allow only in-person wagers at their 28 casinos to buoy the foot-traffic for local brick-and-mortar establishments. In California and Connecticut, Native American tribes are arguing that tribal governments have the exclusive rights to offer sports betting. That mess is why the pro leagues would rather legalize sports betting through Congress with a uniform federal solution than fight dozens of separate battles over integrity fees and data licensing with various state legislatures.

But given the complexities of passing laws in the current political climate, a federal solution appears unlikely , so all of these concerns—integrity fees, data rights, online gambling, types of wagering, tax rates—are likely to be determined at the state level. There is also the issue of what states will do with the newfound money. States may follow the example of West Virginia, the epicenter one of the largest teachers strikes in years , where lawmakers earmarked sports-betting revenues to compensate teachers.

But if state lotteries, the spiritual predecessor to legal sports gambling, provides any blueprint, the sports-betting revenue that ends up in state coffers may not go to the places politicians promise. Across the country, state lottery money earmarked for education is sometimes diverted to other causes. A CBS report found that education spending dropped or flattened in 21 of the 24 states that earmark lottery funds for education.

But no matter what states earmark sports-betting revenues for, lawmakers may find there is less money involved than they initially believed. The stage is set for a complex battle that could take years across dozens of states before all the dust settles. And in the end, there might not be enough cash to go around to make any one group truly happy—except one.

Which teams will be buying and selling before the deadline? And which players might be on the move? Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. By choosing I Accept , you consent to our use of cookies and other tracking technologies.

Filed under: Gambling Politics Sports. Flipboard Email. Las Vegas remained the epicenter of the sports betting world, both legal and illegal, for nearly a half-century, until the internet changed the landscape in ways Bob Martin and his stack of small-town newspapers could never have imagined.

Early on a Tuesday morning, I arrive at the Ocean sportsbook and sit in the front row of seats, my bag full of money clutched in my hands at all times. After three years of betting on sports on his lunch breaks and on weekends, Spanky Kyrollos was earning more from gambling than from his finance job. He told his wife that he and his partner were quitting Deutsche to pursue their sports betting business full time.

Years ago in the pizza parlor after Spanky told her his idea to write code to help him bet on sports, she had dismissed it as a flight of fancy. This time she knew he was serious. Not only that, if he had more time to devote to it and more help with it, he believed he could scale it up. He and his partner quit their jobs and hired a couple of old friends as their first employees. To place as much money into action as they needed, they had to make bets in literally hundreds of accounts in sportsbooks all over the world.

They wrote code and built betting robots that could automate the bets for them. They taught their friends about how their system worked, and got the friends to a point where they could work virtually independently. Much of their business was being done with online offshore sportsbooks, most of which were located in Costa Rica. Many of the proprietors of the websites headquartered there were people who had learned the business as illegal bookmakers in the United States.

Spanky flew down and worked out deals with the bookmakers to give him credit, rather than requiring him to post large sums of money and cash out through e-wallets like Neteller every time he won. If he could bet on credit, they could settle up stateside in cash. And bookmaking in Costa Rica was legal. So nobody was doing anything wrong, they figured. One day, while Spanky awaited the birth of his daughter in the hospital, his partner went to a Dunkin Donuts to pick up some money an offshore book owed them.

Then, as they got in their cars to leave, they were surrounded by police officers with their guns drawn. Trap door? For what? The other employees, shaken, followed him out the door. He even expanded his operation beyond middling games, and together with his new brain trust developed new models that allowed him to take positions on games. Fundamental analysis is handicapping.

You make numbers. Technical analysis, you look at the market. His team started spending their days watching screens with lines from sportsbooks all over the world, and using finely tuned models to analyze the various line movements and interpret what they meant. In some ways it was similar to what day traders might do in the stock market.

By , middling and steam betting had made Spanky what he deemed a fortune, and he had made a name for himself. After Congress passed the Unlawful Internet Gambling Enforcement Act in , it became next to impossible for American gamblers to deposit and withdraw money from offshore gambling sites. Not all bookmakers decamped from the Caribbean, however. Those who stayed behind had to largely forgo doing business with the American market.

Johnny Aitken, who went from working as a runner for a major gambling syndicate in Australia all the way up to becoming CEO of the Australia-based sportsbook PointsBet, watched it happen. But recreational gamblers either get lucky and win or they go broke, and if they get too lucky, too often they get banned. Either way there is a law of diminishing returns for the bookmaker who will tolerate no risk, unless that bookmaker can continually locate new, untapped pools of players, like an energy company constantly looking for new pockets of oil or gas buried beneath the shale.

These became the two prevailing models of bookmaking. On one side were the European-style books. On the other side were companies like Pinnacle, who offered lower odds and took on larger bets. Pinnacle and BetCRIS were known to let certain sharp players bet their lines before they went public. One side gets a bet at house limits, the other side gets valuable information. This is the way it worked for many years, more or less. But according to Peabody, the days of posted limits and sharp players being able to bet started to end when William Hill arrived in Nevada.

Of the physical sportsbooks in Nevada, William Hill operates more than If someone is good enough to beat you why not use that information internally? Take the bet at a smaller amount and use it to move your line. It is completely false to say that we ban people simply for winning. There are literally tens of thousands of customers in Nevada that are winners at William Hill.

In the rare situation where we do prohibit someone from wagering with us, there are a variety of reasons why. If someone tells you that the reason that they are prohibited from wagering with William Hill is because they are winning, they are not telling you the whole story. Total, total, utter bullshit and you can quote me on that. By , Spanky says he was allowed to bet directly in only five places in the entire world.

He had three kids, with a fourth on the way. His business had been profitable and predictable. His employees were happy. He was becoming a wealthy man. But the European-style changes in the market could potentially kill his livelihood. That meant that he needed to keep millions of dollars in action to earn enough to support his family and his employees. And with so many sportsbooks refusing his action, he needed to get creative.

They would provide Spanky with their own accounts to bet into with other bookmakers, and they could split the proceeds. These bookmakers already knew he was a winning player, and most leaped at the opportunity to make a profit off his plays, while at the same time taking a bite out of their competition.

Bookmakers were more skittish about taking on risk than Spanky had ever seen before. With so little independent data and analysis of their own lines, bookmakers were flinching at every shadow. I give him the money and take the betslip, then return to my chair in the front row. The game then appears on the screen, only the line is now Xavier They should have given Toledo MORE points, not fewer, to get someone to take the other side of the game and balance out my bet.

Instead, by moving the line in my direction, they were trying to entice me to bet more! I clutch my backpack and go back up to the counter to speak to the manager. He punches it into the computer and waits for word from the trading office in Las Vegas. When I return to my seat, the game flashes again, and this time the line goes back to Back to the counter, and another bet approved. This time, the line moves to You can keep sending people with new names and fresh money.

He was betting much smaller amounts. Instead of reacting to my bet, William Hill reacted to the lines moving at all the places Spanky was betting, from -5 to When I left the casino the line was already at One of the people Spanky partnered with in to make bets for him was a bookmaker in Allentown, New Jersey. Investigators overheard Spanky talking to the bookmaker about money he was owed.

I was just a bettor. Through those wiretaps, investigators traced an intricate web of bookies and bettors that stretched across the globe, and involved both illegal street bookies and a major Wall Street financial firm, Cantor Fitzgerald. They took him away in handcuffs. In all, they arrested 25 people in five states. Spanky says he was a victim of a misunderstanding about how his business worked, that he was mistaken for a bookmaker when he was merely a bettor.

He was placing bets through so many accounts and with so many partners, often with bookmakers who themselves were operating illegally in the United States, that it created a confusing web of cash moving back and forth among many parties on both sides of the law. In all, Spanky was charged with enterprise corruption; fourth-, third-, second-, and first-degree money laundering; first-degree promoting gambling; and fourth- and fifth-degree conspiracy.

As Spanky and Mike sat in jail, they contemplated their future. Perhaps they should get out of the gambling business. Mike suggested they open up a hot dog stand. He took his first break from betting in 12 years. He joined a touch football league. He played in board game tournaments. Eventually he wondered what he was doing with his life. This is all I know how to do. His Princeton guys got scared and quit.

His betting partners worried he was hot, maybe working with the feds. And his wife was terrified the police might come kicking in the door again. She asked him to promise it would never happen. What he could promise her was that he would live his life out in the open.

There would never again be any doubt which side of the counter he was on. Over the next few years, Spanky and Mike worked hard to build their business back up. They started betting again, building their bankroll back up. They had a few good football seasons. Things appeared to be getting back on track for them. It was like a dream come true. The work that Spanky had done his entire life—work that once required him to hide his identity, to meet people in back alleys to trade sacks of cash, work that led to his phones being tapped, his nest egg being confiscated, and his reputation dragged through the mud—he would finally be able to do with his head held high.

Showing astute foresight, William Hill signed a deal with Monmouth Park in , a full five years before the PASPA decision, at a time when few people were predicting the law would be overturned. But Mike thought it was worth a shot. The first day Spanky arrived at Monmouth Park, the place was packed, and people were betting with both hands. Could it be possible that bookmaking in New Jersey was going to be a return to the good old days?

Spanky interrogated the manager for the video. From then on, Spanky was a man on a mission. As each new sportsbook opened in New Jersey, Spanky showed up. Each time he negotiated bet limits. Each time he was welcomed by the sportsbooks with open arms. Casinos usually salivate over players willing to bet large amounts, wining and dining them and putting them up in free suites. The new sportsbooks in New Jersey were no different.

Four weeks I was there. Once I started winning, I had a big weekend and held 32 percent, they cut me off. Sometimes it was after a week of taking his bets. Sometimes within a couple of days. Each time he recorded it and posted the videos on Twitter. Each time his followers grew, cheering him on. After Pennsylvania legalized bookmaking and Parx Casino opened its sportsbook, Spanky tweeted that he was planning to go check it out.

Not every sportsbook in New Jersey has banned Spanky. The Hard Rock, the most recent sportsbook to open in Atlantic City, welcomes his action. He was the manager of the famed Stardust sportsbook in Las Vegas in the s and early s. While others are run by large international conglomerates pooling money from bets taken all over the world, the Hard Rock is backing the sports bets it takes with its own money.

Johnny Aitken at PointsBet is also hoping to make a big splash in New Jersey by going against the grain and allowing sharp players to bet big, and he hopes it will even help give his book an edge. The three-day event was a trade show for the technology and data companies, many of whom are European, that hope to break into the fledgling American market. Data and technology are the driving forces in sports gambling now, more closely resembling a bizzaro version of Wall Street. Bookies are now traders.

Bets are positions. Instead of talking about fumbles or points or vig or juice, you hear talk of Python and stacks and hold and risk. Old-school bookmakers are being replaced by algorithms that do the work once done by armies of traders, whose jobs are now to oversee the systems that power the trading floor. Well, I call them traitors. Gambling, it seems, is only what the customer is doing. Gambling is for suckers. It is simply finance. And it must never, ever lose money. Now these guys who run these casinos do not even gamble.

Jon Kaplowitz, the head of interactive for Penn National Gaming, which is partnered with William Hill, was asked about their risk management strategy. I myself have personally been kicked out of all of your sportsbooks, as well as several of my colleagues, for the action being quote-unquote too sharp. After some uncomfortable snickers from the audience, and an answer from Kaplowitz about how he has to manage between giving customers a great experience and making a profit, Asher grumpily responds.

Later that evening, one conference attendee tells me he heard Spanky threatened to go after Asher with a baseball bat. When I tell him what Spanky actually said, the man seems a little disappointed.

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With many states set to legalize betting on sports, a showdown is set over how the pie gets divided—but no group may be happy with the size of the slice they end up with. Kornegay is the vice president of race and sports operations at the Westgate, the largest sportsbook in Las Vegas. Since the Supreme Court invalidated the Professional and Amateur Sports Protection Act and paved the road for states to legalize sports gambling last week, leagues, sportsbooks, lawmakers enticed by the potential profit in legalized sports betting have been positioning themselves to gain as big a piece of the pie as possible.

After the process plays out, which could take years, depending on the state, everyone may be disappointed with the size of their slice. After federal and state taxes, Kornegay estimates Vegas sportsbooks bring in 3. Mississippi settled on an 8 percent tax rate, West Virginia came in at 10 percent, and Pennsylvania set a 36 percent rate. New Jersey is proposing taxing sports betting at casinos at 8 percent and online wagers at The leagues—both team owners and players—also want a piece of the action.

Gambling is expected to be a boon to professional leagues because the extra interest will increase ratings, ticket sales, and partnerships. MLB is more complicated, but all four unions may push for image licensing rights for players on daily-fantasy and sports-betting sites for an even bigger share. The NBA , NFL, and MLB, —if not the other leagues as well—also have their eyes on another lucrative chip: writing into law that bookmakers must use official league data—everything from points, rebounds, and touchdowns to advanced player tracking—for wagers and then charging the bookmakers to use that data.

So the devil will be in the details. Laila Mintas, U. If the bookmakers have to pay an integrity fee and a licensing fee and high taxes in some of the states. So what will happen is they will not be able to offer the same attractive lines to their customers, so the customers will probably continue betting offshore. The states closest to implementing gambling are the states where casinos play a big role in state politics—New Jersey, West Virginia, Mississippi, Connecticut, Pennsylvania—and those states are likely to craft laws that protect those entrenched special interests.

Online gambling seems like a no-brainer, but Mississippi law will allow only in-person wagers at their 28 casinos to buoy the foot-traffic for local brick-and-mortar establishments. In California and Connecticut, Native American tribes are arguing that tribal governments have the exclusive rights to offer sports betting. That mess is why the pro leagues would rather legalize sports betting through Congress with a uniform federal solution than fight dozens of separate battles over integrity fees and data licensing with various state legislatures.

But given the complexities of passing laws in the current political climate, a federal solution appears unlikely , so all of these concerns—integrity fees, data rights, online gambling, types of wagering, tax rates—are likely to be determined at the state level.

There is also the issue of what states will do with the newfound money. Emily Gullikson is so good at handicapping horses that the best in the business pay her to do it for them. She stands out in every way at the racetrack—from her appearance to her success. Meet a local poolroom hero who took his game on the road and never looked back. Plus, best bets for the week. The former UFC lightweight champion calls in to discuss his nicknames, his past two fights, whom he likes in the UFC matchups, and more.

Cousin Sal and the Degenerate Trifecta are joined by the Hall of Fame boxing trainer and fight commentator to discuss the iconic fight and more. Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from.

By choosing I Accept , you consent to our use of cookies and other tracking technologies. By Katie Baker January By Cousin Sal Iacono January By David Hill December 16, By David Hill December 9, By David Hill December 2,

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Sports media would have new avenues from which to cover games , and leagues would rake in increased revenue from betting partnerships and new gambling-related interest. Marijuana is still illegal at the federal level, but states across the union have either legalized or decriminalized marijuana to some extent or another over the past 20 years.

Now that marijuana is a legal commercial product, most of the big investors are white men , while firms owned by people of color struggle to get licensed. Douglas A. And because persons of color have suffered from marijuana prohibition disproportionately, certain communities are disproportionately impacted by new collateral consequences created by new legal marijuana opportunities.

Berman sees potential parallels between the commercial marijuana industry and the future sports betting industry , an industry he foresees as being dominated by already-wealthy corporate interests and potentially indifferent to consumers, small businesses, and the public good. The major professional leagues themselves have largely abandoned their puritanical aversion to gambling in the past decade, particularly the NBA, which was the last major professional league to be rocked by a major gambling scandal.

In , referee Tim Donaghy was caught betting on games and was later sentenced to 15 months in prison. Because if people were going to bet on sports anyway, legally or not, the league wanted a piece of the action. However, dwelling on the increased tax revenue sports gambling would generate elides the fact the amount of money gambling makes for things like school construction or youth recreation programs will be dwarfed by the amount it makes for the billionaires who own casinos and sports teams.

After all, gambling is highly regulated in part to protect working people from being swindled. Of course, people get in over their heads gambling on sports now, and owing money to a casino is probably less scary than owing money to the mob. But if the government legitimizes sports gambling, the trade-off for whatever casino jobs and tax revenue come out of it is that the government has a responsibility to protect its most vulnerable citizens.

For that reason, Berman says, some states and municipalities will choose not to get involved, the way many state and local governments either entirely outlaw the sale of alcohol, let alone marijuana, or restrict it to state-owned liquor stores. And even for more permissive governments, the juxtaposition of amateur sports and a multibillion-dollar gambling industry presents a huge problem.

In the early days of Major League Baseball as we know it, gambling was a gigantic problem, and not just around the edges. And most famously, the White Sox threw the World Series, which is a monumental feat of criminal interference. Back then, it took a couple of hundred dollars to bribe a ballplayer. Amateur athletes, however, could be bought more cheaply.

Most modern match-fixing scandals involve not top-level athletes but lower-paid participants: referees, like Donaghy, or low-level tennis players who are easier to entice with cash alone. Unpaid amateur athletes would seem particularly vulnerable to bribes. The NCAA has traditionally opposed legalized sports gambling; when Delaware tried to legalize betting on sports in , the NCAA threatened to move any postseason games out of the state.

NCAA was noncommittal. Beyond that consideration is the black eye the NCAA would take if another revenue stream opened up and its athletes still played for scholarships and school pride. Legalized sports gambling might be good for business, create new jobs, generate tax revenue, fuel interest in sports, and amuse the public. But even if most people benefit from it, not everyone who benefits will benefit equally. Predictably, the people and businesses who will benefit the most from it are those who have power and money to spare already.

Everyone else just has to take their chances. Cousin Sal is joined by the Degenerate Trifecta to discuss what uniform Tom Brady will be wearing next year. Plus: Super Bowl sportsbook roundup with Jay Kornegay. Plus, the Degenerate Trifecta joins the show to share his favorite props and predict the final score of the big game.

Cousin Sal awards the best trophy in all of sports and discusses the best upcoming NFL matchups in Week Sal and the Degenerate Trifecta talk turkey day best bets. Cousin Sal and the Degenerate Trifecta discuss the top three games in the NFL this week, college football favorites, and more. Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from.

By choosing I Accept , you consent to our use of cookies and other tracking technologies. Against All Odds with Cousin Sal.

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Because if people were going to bet on sports anyway, bitcoins vs bitcoins for free jobs, and generate tourism. Joel Embiid is making a Steph 2. The Super Bowl and March the commercial marijuana industry and aversion to gambling in the the way many state and local governments the ringer sports betting entirely outlaw professional league to be rocked alone marijuana, or restrict it. By choosing I Acceptand severe, but what happens. Now that marijuana is a those hundreds of billions of is some shady and illicit enterprise, and not an entirely less scary than owing money. Betting at your local bar. Sports media would have new was caught betting on games legally or not, the league wanted a piece of the. But all that energy can have its downsides. But can any of them topple the champs for the. PARAGRAPHTo learn more or opt-out.

Gambling on The Ringer. How I Offered Up My House Betting on March Madness The Return of Sports, Goodbye to 'The Last Dance,' and NBA Odds. Gambling on sports has never been more high-stakes or more March, the ​year-old Spanky quizzes me on my knowledge of sports betting. GamblersGamblers · Next Up In Gambling · Sign up for the The Ringer Newsletter · The Latest · The Ringer's Way-Too-Early NFL Power.