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Sports Gambling Now Fully Legal in the US - Integrity Fees?

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    The Supreme Court just overturned a 1992 ban on sports betting and gambling. So that means for the last 26 years, basically the only place where anyone in the US has legally been allowed to place bets on sporting events (outside of horse racing and maybe a few other exceptions) has been in Vegas, or in the state of Nevada actually.

    Now that will no longer be the case.

    This opens the doors for any state to set up regulations and frameworks for any resident to gamble as they wish. So, some states won't. But many states will. New Jersey, Pennsylvania, Mississippi and West Virginia have already passed bills in anticipation of this ruling. So they can be up and running in short order. Expect many states to follow suit.

    Gets more interesting, as the NBA and MLB are looking to take a cut, right from the get go. They want to institute what they are calling 'integrity' fees. This would be a 1% fee for all sport's betting across the board, if the bet has to do with their league, so they can pay for arrangements with gambling associations and also use that money to further ensure the quality of their product (the game itself) is not sullied by gambling pressures.

    So basically they want their cut because they say the integrity of the game could be harmed with massively increased gambling in the US, and as well as just because, hey, they created the game, so.. gimme gimme.

    What do you make of all this? Do you think this was a smart move by Congress? Do you see yourself gambling on sports now that your state might make it fully legal?

    Also of note, the NFL is NOT for this. MLB and NBA are, and are looking at it as an additional revenue stream, as well as the PGA, and you guessed it, the NCAA too.

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    Had no idea this was in the works. Very interesting. I'm sure the guys over at FanDuel and DraftKings for fantasy sports 'games' are thrilled.

    Here's a good ESPN conversation on how this will effect the NBA:

    Also thought it was interesting to see that Mark Cuban quote about this passing's impact:

    I think everyone that owns a top 4 professional sports team saw the value of their team double.

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    I wonder what the ads will be like. We used to see a TON of ads from Draftkings and the other one until they got in some trouble. You think they'll come back tenfold? Or will we start to see a bunch of ads from other companies getting in on the action?

    I honestly hate FanDuel and DK. I think they know exactly who they're taking advantage of. But I also think a whole lot of good can come from gambling legalization. It's going to be really cool to see some fresh companies come from this.

    I also have a buddy who will be all over some legal online poker. But I read somewhere that that's one of the topics this legalization doesn't change?

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    PowerPlay Wrote:

    I also have a buddy who will be all over some legal online poker. But I read somewhere that that's one of the topics this legalization doesn't change?

    Yeah. From what I understand, it's just for sports betting. So making legal bets on the outcomes of professional sporting events.

    Making gambling legal across the US would have been another even crazier headline. Very Happy