Supreme Court opens the door to nationwide sports gambling

[fan_since79]

They just struck down a federal law that bars it. States will now be free to make it available.

https://www.si.com/college-basketball/2018/05/14/new-jersey-betting-supreme-court

[Adam]

@m0nkey your family must be stoked!!!

[Brandon]

hopefully online poker comes back

[nate]

degenerates across the country rejoice!

[Adam]

The States will tax this too heavily. 

[Vegas Halo Fan]

On 5/14/2018 at 11:43 AM, Adam said:

The States will tax this too heavily. 

There won't be much to tax. Sports betting is a low-margin high-volume activity. The takes aren't that high. According to a UNLV study, the total profit for Nevada sports books in 2017 was 2.17 percent.

[Adam]

Maybe but you’re gonna get 8-1 on 4 Team parlays in CA if and when it launches here

[Blarg]

15 minutes ago, Vegas Halo Fan said:

There won't be much to tax. Sports betting is a low-margin high-volume activity. The takes aren't that high. According to a UNLV study, the total profit for Nevada sports books in 2017 was 2.17 percent.

2.17 percent of billions is a big number.

[Vegas Halo Fan]

2 hours ago, Blarg said:

2.17 percent of billions is a big number.

Currently, 98 percent of money wagered on sports is done through illegal means. If the could find a way to tax that...

If states decide that they are going to cash in by heavily taxing sports books, they run the risk of making the operation of legal books unprofitable, in which case they get nothing.