Online Casino Transfer: News - Wright Wants Sports Betting, Too

08/16/2010		Online Casino Style: News Wright Wants Sports Betting, Too - 2
Home History Games News Dictionary		continued from Wright Wants Sports Betting, Too - 1 Under current California law, it is illegal to gamble on sports, whether it be in person or utilizing an internet gambling site, though it is only a misdemeanor. It does little to discourage sports betting, however, with most estimations saying that about $100 billion is bet in the division every year, both legally and illegally in the US. According to an expert on the field, Marc Lefkowitz of the UCLA Gambling Studies Program, only about $2.6 billion of those funds are spent in Nevada, giving a clear idea of just how many internet gambling sites are profiting from prohibition laws in the States. The federal law that bans wagering on sports is considered ridiculous by most in the online gambling community, and at the very best, has been said to have major constitutional problems by the legal community. It’s those flaws that the New Jersey lawsuit is attacking. The profits being lost by the prohibition is another major concern for those involved in the debacle. The money made off bets placed in Nevada – one of the rare locations where it’s legal – came to benefit the state by a tune of about $9 million last year. With a higher residential population, the taxes in California could be much more, and a significant step in bringing the western state out of its current financial crisis. One expert said that if sports betting were to be legalized in California, he wouldn’t be surprise to see upwards of $1 billion annually in state revenues. It would also mean an increase in job opportunities, resulting in approximately 10,000 new jobs throughout the state. "It's a curiosity to us that Nevada is really the only state where you can do [unlimited] sports betting in the U.S.,'' pondered Breon Corcoran, the managing director for Paddy Power, one online gambling company which has expressed interest in operating sports betting in Cali.

08/16/2010

Online Casino Style: News
Wright Wants Sports Betting, Too - 2

continued from Wright Wants Sports Betting, Too - 1

Under current California law, it is illegal to gamble on sports, whether it be in person or utilizing an internet gambling site, though it is only a misdemeanor. It does little to discourage sports betting, however, with most estimations saying that about $100 billion is bet in the division every year, both legally and illegally in the US. According to an expert on the field, Marc Lefkowitz of the UCLA Gambling Studies Program, only about $2.6 billion of those funds are spent in Nevada, giving a clear idea of just how many internet gambling sites are profiting from prohibition laws in the States.

The federal law that bans wagering on sports is considered ridiculous by most in the online gambling community, and at the very best, has been said to have major constitutional problems by the legal community. It’s those flaws that the New Jersey lawsuit is attacking. The profits being lost by the prohibition is another major concern for those involved in the debacle. The money made off bets placed in Nevada – one of the rare locations where it’s legal – came to benefit the state by a tune of about $9 million last year.

With a higher residential population, the taxes in California could be much more, and a significant step in bringing the western state out of its current financial crisis. One expert said that if sports betting were to be legalized in California, he wouldn’t be surprise to see upwards of $1 billion annually in state revenues. It would also mean an increase in job opportunities, resulting in approximately 10,000 new jobs throughout the state.

"It's a curiosity to us that Nevada is really the only state where you can do [unlimited] sports betting in the U.S.,'' pondered Breon Corcoran, the managing director for Paddy Power, one online gambling company which has expressed interest in operating sports betting in Cali.