NJ Sports Betting: Six years later, it’s official in New Jersey

[10 pnt move up]

Originally Posted by freddymo

Why do they HAVE too raise revenue from sports wagering. Frankly its not a needle mover simply not enough revenue. That doesnt mean I dont want it or am pissed its not in NJ just the revenue portion is WAY over stated

Its a multi billion dollar industry, how could it not be substantial revenue for the states?

[freddymo]

Originally Posted by 10 pnt move up

Its a multi billion dollar industry, how could it not be substantial revenue for the states?

Because it simply isnt a needle mover. Will it help a little sure but its not going to be enough to make a significant difference. Again I would love to be at MP in a sports book betting sports and races, the tax money will help racing but dont think Moody's is placing GO's of NJ on credit watch with positive implications IF sports betting was legal in the state. Good for racing and certainly good for people wanting to bet but as a significant revenue producer...not really

[Kasept]

Federal appeals court grants New Jersey rehearing in sports betting case http://es.pn/1Gdd65b

[freddymo]

Conducting a hearing again based on the motion of one of the parties to a lawsuit, petition, or criminal prosecution, usually by the court or agency which originally heard the matter. Rehearings are usually requested due to newly discovered evidence, an unfortunate and possibly unintended result of the original order, a change of circumstance, or a simple claim that the judge or agency was just wrong.

They asked for a rehearing it was granted it simply means the process is reopened. We will have sports betting in NJ ONLY when the Fed's in concert with the sports league allow it. Shame

[jnunan4759]

I could never see how the Feds could say it's OK for NV to do this but not any other state. It seems to me like a Fed created monopoly. I would think every other state should have the same right that NV does.

The bottom line is that most states are going to be run on gambling. It's huge revenue and needed to support deficit budgets. Is it right, probably not.

Gambling has become a huge problem. Embezzlement has skyrocketed because of it. It's created a whole array of problems that Horse Racing never did. Horse Racing has been legal gambling in many states for many years and has not created the problems that casino gambling has.

However, I'm OK with Racing getting some of that pot.

[richard burch]

Originally Posted by freddymo

Conducting a hearing again based on the motion of one of the parties to a lawsuit, petition, or criminal prosecution, usually by the court or agency which originally heard the matter. Rehearings are usually requested due to newly discovered evidence, an unfortunate and possibly unintended result of the original order, a change of circumstance, or a simple claim that the judge or agency was just wrong.

They asked for a rehearing it was granted it simply means the process is reopened. We will have sports betting in NJ ONLY when the Fed's in concert with the sports league allow it. Shame

...or ONLY when enough money changes hands behind closed doors. whichever comes first.

[freddymo]

Originally Posted by richard burch

...or ONLY when enough money changes hands behind closed doors. whichever comes first.

All I really believe is its a matter of significant time till all states have William Hills on very corner like UK.