When Sports Betting Is Legal, the Value of Game Data Soars

Tom is in a sports bar in N.J. Not one of the fancy ones, kind of a dive but o.k. He is on his second bourbon, watching the Yankees game when he notices a seriously attractive young lady is paying attention to him. Tom's smile initiates her immediate relocation to the adjacent bar stool and his buying a round of drinks. Two rounds later and having such a great time Tom doesn't mind that there is a fellow standing next to him asking him how much he likes baseball and the Yankees. Next comes the inevitable challenge to Tom's manhood and the "why don't you back that up with money." Who scores first, what pitch will be next, base hit, line drive, pop-up, grounder; will he steal second, I bet this guy strikes out. On a fly ball: home run or caught or an error and on and on. This wasting of Tom's wallet is accompanied by a continuous chorus of "lets get another drink" from young lady and "come on man" from the fellow. Tom isn't doing well and admits that he is out of money. The fellow says "he knows a guy" and motions somebody over who is such a nice guy that he is willing to loan him enough money to win all his money back. Young lady says "do it and with your winnings you can take me out to dinner." So Tom bets double or nothing and loses because he never realized the game is on a ten second delay from a back room and the unnoticeable earpiece in the fellows ear was giving him the results before they happened and the nice guy is a loan shark who he will be in debt to.

Gambling is entertainment for some - go to vegas once a year and win 20 bucks after betting 20 bucks. For too many, it's an addiction tied to the hope that you'll win big, like the lottery. Never mind that your changes are worse than getting hit by a plane falling out of the sky on your house. Before long, I'll be reading that gambling, sports or otherwise, is racist and hits minorities and the poor most. Frankly, when one can bet money they don't have or bet all they have, it's an invitation for the worst that man can bring on himself. I will not be bailing out gamblers; woops, already do. STOP it.

Gambling of any kind is the ultimate caveat emptor activity. The less regulated, the better. Gamblers have to assume all the risk of betting against the odds. Markets will clear if either the game or the information is tainted and gamblers will figure it out over the long run. Leagues own the games themselves and bear the ultimate responsibility for integrity. The "data" are somewhere between objective and subjective and are only as good as the observers. Gamblers have to decide how much of what kinds of data predict the outcomes on which they are betting. Bad data won't survive long. Frankly, anyone who gambles isn't smart enough to realize he/she is being played for a sucker.

There is far too much legal gambling in the U.S. Now, there will be far more. There will be grave social consequences. It is not a good thing. It's time to put a lid on expansion.Illinois five years ago legalized slot machines in gas stations, supermarkets, convenience stores, truck stops, etc. It now has more. than 26,000 machines operating statewide. Last year Indian and Commercial casinos in 44 states kept, more than $70 billion earnings before Ebidta, representing at up to $1 trillion gambled. Compare that with movie box office revenue -- $12 billion last year or total NFL total revenue, from popcorn to TV rights, $14 billion.

This article mentions "in play" betting, but it does not highlight the issue sufficiently. Having scouts at sporting events transmitting unofficial data is nothing new. With the invention of the telegraph sharpies got an edge in wagering on horses. The numbers racket was tainted by the leak of early inside information. This problem could be obviated by well-thought regulation. In-play betting should be strictly limited by quarters, halves or periods. There should be a time stamp on all bets. This could be done easily by synchronized mobile devices. During law school I associated with the biggest independent bookmaker in Ohio since Jimmy the Greek. Once "post time" occurred, or the game had started, the clients were out of luck placing bets. All NBA games had begun, and we'd be going out the door for a repast. The phone would ring, the bookie would answer, and say, "What's the score?" The bet was declined. I speculate that "in play" bets are done in the main by compulsive gamblers. If the point-spread adjusted outcomes, the point totals, and teaser bets, etc, are not enough, you have a problem. Alas, there is a market for such foolery. Limit bets on scores and statistics by time periods. Also, bets should be "scratched" if salient players become injured. All bets are off. With waning millennial interest in watching sports, smart phone gambling is seen as way to new growth. This brave new world screams for regulation.

Why yes, of course we should legalize sports betting here in the US. I mean, what could go wrong?

I'm a former member of the N.J. Casino Control Commission and have once post-service restrictions expired, consulted with the casino industry. My view is informed by knowledge and experience. Looked for this story in your national report, then in the Business report. It is not a sports story.It is a socio-economic story reflecting urgent need to reconsider the scope, spread and impact of legal gambling across the United States. Last year Indian and Commercial casinos in 44 states kept, more than $70 billion earnings before Ebidta, representing at up to $1 trillion gambled. Compare that with movie box office revenue -- $12 billion last year or total NFL total revenue, from popcorn to TV rights, $14 billion. State lottery sales combined exceed $150 billion. NJ has intra-state on line wagering now at $200 million a year in earned revenue and being copied by other states. Illinois five years ago legalized slot machines in gas stations, supermarkets, convenience stores, truck stops, etc. It now has more. than 26,000 machines operating statewide. Now sports gambling? The $150 billion illegal sports wagering figure cited by the Times t is an invention of the American Gaming Association. No one can really know. The source should be identified, not given unattributed credibility. Regardless, there is far too much legal gambling in the U.S. Now, there will be far more. There will be grave social consequences. It is not a good thing. It's time to put a lid on expansion.

Donaghy was already caught fixing games. Vegas gamblers already bet on games. Overseas gamblers already bet on games! Like recreational drug use, it's best done in the open by professional businesses who have a stake in policing the action and so the state can regulate, observe and collect taxes for the good of all. And it's past time to pay college players for the integrity of the corrupt NCAA. It's absurd how little Congress does, everything now is litigated instead of legislated. Why was this a legal ruling instead of a real law? Why is marijuana still in limbo federally? Why isn't poker gambling, a 100% American pasttime, not legal? Why do native american reservations have this loophole? Why does Congress let Trump ignore laws at the EPA and labor board? Either create new laws or enforce the laws we have! Where's the law and order?

I guess I can understand betting on things other than the game outcome; for example, betting on how many yards Tom Brady completes in his next game. I can't understand this second-by-second in-game betting. Who but gambling addicts would bet on, say, when Brady completed his 10th pass? Or, in baseball, betting on when the first run would be scored? Who cares? I get the impression that Brits would bet on the color of the first car to stop at the next red light.

Frankly, I don't care but it's only a matter of time until the the first game is thrown or the first point shaving incident surfaces. There is too much money involved for this not to happen.

Increasing betting on live sport events will ultimately show that money can corrupt. Sports allowing live betting should be aware of many foreign examples of where players were being paid by gamblers to try and alter a result in their favour. Low level tennis matches have been fixed by gamblers. Cricket saw leading international players banned for intentionally bowling what the bookmakers wanted. International soccer has had issues with gambling in sport. A niche sport in Australia, Rugby League, has had issues with gambling and match fixing, yet that sport still has betting agencies as sponsors. How would an athlete react if one of their family were threatened unless they under performed? A player who loses big on gambling, would be an easy target to throw a game for a huge payoff. Sports betting helps the sports betting companies at the expense of integrity in sport.

This reminds me of the movie "The Sting" and the use of past-posting.

Has it really been so long since Pete Rose helped to reveal what so many people end up doing when sports gambling is legal? Greed is not good.

Does EVERYTHING in 21st Century America have to be about money? Am I the only fan who wants to go to an occasional game and enjoy the game for the game's sake?