LINKhttps://www.bettingusa.com/states/Clicking on each state displayed will call-up current law. As noted in another thread, Michigan approved online gambling in January. The law allows (but is not not limited to) wagering on sporting events. 8% of the casinos’ profit is skimmed off by the state in tax. This is part of a growing national trend. As investors, it’s worth noting that the trend bodes well for not only the casinos, but also the entire sports broadcasting industry, since a common practice is wagering while viewing a contest (on ESPN, Fox, etc.).
As
@BenWP stated elsewhere, the state’s airwaves are now besieged with ads designed to draw-in new participants. Last night I watched a smooth 30-minute paid commercial on a local network during prime time.
Downright scary when you think of some Dad gambling away his week’s pay-check on online BlackJack some Friday night. This is a loaded issue. The harm to individuals and society from gambling addiction is well documented. I fear the worst for the most vulnerable among us - those who can least afford to lose their money to what is at best a “slimy” predatory industry. And we haven’t even gotten to the possible negative effects on sports / sports participants. On the other hand, there are revenue benefits to the states, many in dire financial condition.
Had I been a legislator, conscience would have compelled me to vote NO on allowing this (pardon the
oxymoron). That said, I’ve enjoyed a few NCAA games this winter I wouldn’t have otherwise watched without a few dollars riding.
FWIW
Comments
Mich. looked to me to be a final four until the injury to Livers foot, tough break.
Batman & Kofi ( ILLINOIS) look to be a final four team. The Zags are the team to win it all , most say , but to me going undefeated is very hard to do lately. Time will tell on that one.
I'll be busy filling in my brackets the next two days & then watching B-ball !!
Did you happen to watch Big 10 final ? Ohio was there at the end , but TWO TO's cost them the game !
Good luck , Derf
To answer your question ... I don’t bet on the local teams. And rarely watch. Best not to have any emotional attachment if wagering. Can cloud your judgement. Since the sites generally allow betting and cashing out as often as you want during the contest, you’re making decisions throughout - unless things get completely out of hand.
Re MSU. Tom Izzo is a class act. Always has been. Played at NMU in our Upper Peninsula late 60s or early 70s. An acquaintance knew him a bit back than.
Added - I can’t over emphasize the importance of reading up on the contest in advance. Lots of free internet data on things like shooting and blocking percentages, injuries, previous encounters, etc. Make it more than just a “random” coin flip or you’ll loose your shirt in no time. FWIW
+1
Play Ball, Derf
“Damian Lillard made two free throws with 1.2 seconds remaining ... as the Portland Trail Blazers rallied from a 17-point, fourth-quarter deficit to post a dramatic 125-124 home win over the New Orleans Pelicans.”
https://www.modernghana.com/sports/1068463/nba-damian-lillards-50-point-effort-rescues-port.html
Online gamblings is a huge issue up in Michigan as Hank pointed out. Wifey has to track this for her job. The money the state is receiving is obscene.
https://www.onlinepokerreport.com/47873/mi-casinos-first-full-month/
There are also banks and credit unions that are getting touchy with the way folks are using their debit accounts and some even with participating at all, not unlike pot and the banking system.
Of note in Michigan, Lotto revenues are way down and the casinos are still operating at limited capacity and limited desire by people to go hang out. Add to this the folks that always wanted to bet on their team, but didn't know how or where. And the folks that would never go inside a casino but in the privacy of their own home . . .
I know there will be problems but to a degree you 'can't fix stupid'. Do you know there are people that are refusing to get the vaccination?!?
and so it goes,
peace and wear the damn mask,
rono