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  1. #1
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    Sports betting now opened up and law of the land. What say you?

    SCOTUS by a 6-3 vote now allows states to make their own decision on the legality of sports betting.

    It won't be long before you can place a legal bet outside of a Las Vegas sports book.

    I am not into sports all that much -I feel that there is too much money being pushed around, and that a lot of players are overpaid "divas and prima donnas". A lot of them even go broke after their relatively short lucrative stint- go figure.

    Anyway, no more need to use your shady local bar bookie. What are your thoughts?

  2. #2
    Formerly: scoutdog5
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    I would guess most states will look at this as a cash cow, and have fees and charges that will make it unworkable compared to Nevada. I believe Nevada takes 1/4 of 1% of what is bet, so that does not seriously impact the payouts. Much more than that, and it won't make sense.

    Luckydog

  3. #3
    Senior Member daryljjacobs's Avatar
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    Iím not sure what the state takes but Iím pretty sure the casinos take more than 1/4 of one percent.


    Sent from my iPhone using Slot Fanatics mobile app

  4. #4
    Senior Member Scorcho's Avatar
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    I'm excited to one day soon (hopefully) have the ability to be at a bar with my friends watching whatever game with the option of pulling up an app on my phone to place a $10-20 wager on it.

    Sports-watching is a lot more fun when there's something riding on it for you!

    Hell, a $20 bet can even make the Cleveland Browns exciting.

  5. #5
    Senior Member Scorcho's Avatar
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    Quote Originally Posted by Luckydog View Post
    I would guess most states will look at this as a cash cow, and have fees and charges that will make it unworkable compared to Nevada. I believe Nevada takes 1/4 of 1% of what is bet, so that does not seriously impact the payouts. Much more than that, and it won't make sense.

    Luckydog
    Standard NV and online point-spread lines are -110, meaning bet 110 to win 100. This comes out to a personal 9.09% casino vig if you win.

    Of course, they try to balance the action on both sides of an event to eliminate any liability, so if you have a group of bettors with $550 on team A and another group with $550 on team B, the casino will win $550 from one group and payout $500 to the other group, for a net win of $50. The total action placed was $1100, so this comes out to 4.54% total vig across all bets.

    Thus the breakeven point for a sportsbettor is 52.4%, that is, they need to hit 52.4% of their -110 bets in order to end at $0 win/loss. The best sportsbettors in the world hit somewhere around 57-60%.

    What will be horrible is if state governments start getting the hands in the pot, like you say, and make the odds impossible for even the best bettors in the world to beat long-term.

    FWIW, I do a college and NFL pool every year. The last 4 years for me:

    2017: 53.3%
    2016: 50.0%
    2015: 44.2%
    2014: 52.5%

  6. #6
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    I don't watch sports, so don't care either way. Soon enough, sex work will be legal in all 50 states.


    The the only reason prostitution is illegal is because divorce rates would drop. Divorces are a huge industry for not only the state, but the economy.

  7. #7
    Formerly: scoutdog5
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    The quarter of 1% is what the state of Nevada takes, I think that is the correct percentage. That comes out of the percentage the sports book makes, as outlined by scorcho. If Oregon, for example, decided on a tax rate of 5%, I would assume the casino would raise their take to close to 15%, and thus the better would have to gp to -115, meaning bet 115 dollars to win 100. I certainly would not play at that point.

    Luckydog

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    Quote Originally Posted by willslotforcash View Post
    I don't watch sports, so don't care either way. Soon enough, sex work will be legal in all 50 states.


    The the only reason prostitution is illegal is because divorce rates would drop. Divorces are a huge industry for not only the state, but the economy.
    While prostitution is legalk in NV, it is (officially) NOT legal in Clark County (where LAS VEGAS is located).. [Yet, panel trucks drive on strip with billboards advertising "call XXX-XXXX, co-eds will come to your room to give you a private dance"

  9. #9
    Senior Member Reckless Bets's Avatar
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    Quote Originally Posted by willslotforcash View Post
    I don't watch sports, so don't care either way. Soon enough, sex work will be legal in all 50 states.


    The the only reason prostitution is illegal is because divorce rates would drop. Divorces are a huge industry for not only the state, but the economy.
    Legalized prostitution would help prevent a lot of crime (sex trafficking, abusive pimps, assault, etc). I'm not so sure divorce is the reason behind prostitution still being illegal, rather than this country being governed by a bunch of conservative prudes that regulate based on their Bible instead of statistics and the country's best interests.

  10. #10
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    I enjoy sports betting already through non-regulated means. Not a big bettor, maybe spread out $100 per weekend in college football on various bets. I most look forward to casinos hopefully building sportsbooks that are fun venues to place a bet, watch a game over a few drinks and adds a different viewing option with a different atmosphere than that of a normal sports bar.

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