Legalizing sports gambling
Final presentation
– statement about the topic
– talk about how it is connected to your main academic discipline (or the one that primarily informs the paper)
– comment on which particular theories, concepts, methods, research, perspectives of your discipline
– how you tied in one or more other disciplines in your discussion, either directly or by implication
– it is incumbent upon you to demonstrate the interdisciplinarity and integrative component of your article
– some excerpts from your paper that illustrate all of the above
– 7 to 9 minutes for presentation; Use of PowerPoint or overhead projector permissible.
Article should be between 650 to 900 words. Strict limit on both ends. Please give word count.
Jacob Bicknell
Assignment 9
Illegal Gambling in Sports
The audience is young athletes and parents of athletes trying to become professional, or even play in the NCAA.
A person can offer an athlete a percentage of their winnings if they lose a match on purpose. This is a huge issue in tennis because many of the older players who struggle to make a living through the prize pool, resort to the illegal method of making money as it is way easier to cash in, and they just cannot make a living from Futures tournaments so have to earn a living somehow.
In the lower level professional tennis events such as 15k and 25k futures, many betting scandals occur because the tournaments offer such a poor prize pool.
Umpires were sometimes involved, too. As the Guardian revealed in 2016, under the terms of the Sportradar deal, umpires were asked to immediately update the scoreboard after each point using their official IBM tablets. But some umpires deliberately delayed updating the scores for up to 60 seconds which allowed gamblers to place bets knowing what was going to happen next.
Other sports have illegal gambling on a much larger scale, such as in soccer when Juventus got relegated to the fourth division in the Italian Football league because they were caught match fixing. According to certain estimates, the illegal gambling industry could be worth upwards of $500 Billion. It is not really even gambling if you already know what the outcome of the match will be, so it is guaranteed profit.
Assignment 10
Illegal gambling has become a major issue in the world for the last few decades, and legal issues needed to take place to combat the activities. Therefore, the American Gaming Association (AGA) announced its “Stop Illegal Gambling – Play it Safe” initiative in April 2015. Since then, the gaming industry and law enforcement have united to expose the growing illegal gambling market that preys on consumers, siphons tax revenues and funds violent crime. Shortly after forming, the Illegal Gambling Advisory Board identified illegal sports betting as a major threat that undermines law enforcement and finances a range of criminal activity. Law enforcement has helped lessen the issue, but still the illegal gambling industry is still huge and a lot needs to be done still to get rid of it.
One of the best ways to get rid of illegal gambling is to make sports betting legal across the country. Not only does that allow people to now make bets without having to do it illegally, but it helps the economy grow, as can be seen by the growth in the gambling industry in the UK since sports betting became legal in 1961. Match-fixing is also an issue in sports gambling, as it is low-risk, high-reward. “For organized crime groups and criminals, match-fixing is viewed as a low-risk enterprise with the potential for large rewards, particularly when using illegal betting platforms.” The AGA estimated that Americans wagered $4.2 billion on Super Bowl 50 and $9.2 billion on NCAA Basketball March Madness, and 97 percent was bet illegally.
Assignment 11
Legalizing sports betting across the US would also be a way to combat against illegal gambling scandals, as gamblers will be able to place bets legally, instead of having to find a way to get around the legal system and place bets illegally. Although max fixing and paying a person or team to lose on purpose to lose in order to make a profit off of gambling is a real issue, there are many ways to battle this other than just banning gambling in certain states. People will always find ways to place bets and making sports betting legal will hurt the illegal gambling industry, while simultaneously growing the US economy. Law enforcement, such as the “Stop Illegal Gambling – Play it Safe” initiative is necessary to halt the growth of the illegal sports gambling market, and the AGA should put more emphasis on locating the people making the illegal websites.
Assignment 12
https://search.proquest.com/accountingtaxbanking/docview/2204930692/70FEE5F88AAC4FE2PQ/8?accountid=10730
Native American tribes have emerged as key players in the legislative debates over whether states need to legalize sports gambling together with some opposing the notion because it might threaten other people and their casinos supporting legalization but if they maintain a monopoly.
https://search.proquest.com/accountingtaxbanking/docview/2248552842/fulltext/3FCFCB1D41624ACAPQ/1?accountid=10730
Now that the US Supreme Court has given states the power to make their own rules regulating sports gambling, sports fans across the country will have the opportunity to legally place a wager on their favorite team.
This has been the norm in Europe for half a century. The United Kingdom legalized sports betting in 1961 and has thousands of betting shops. It’s very common for the average fan there to “have a few quid” on the outcome of any given soccer match or golf tournament.
The U.K. now also has the world’s largest regulated online betting market, grossing in excess of $7 billion a year. Gambling naturally lends itself to internet transactions and the largest British bookmakers report that between 80 and 90% of transactions now happen via mobile devices.
Be one of the early investors in the newly-legalized sports gambling industry. Betting on sports is a “habit” that Americans spend $150 billion per year to satisfy – twice as much as they spend on marijuana.
https://www.americangaming.org/wp-content/uploads/2019/02/AGA-Oxford-Sports-betting-impacts-2017-May_FINAL-report
The American Gaming Association (AGA) commissioned Oxford Economics (Oxford) to analyze the potential economic impacts of legalized sports betting in the US.
Total economic output, representing sales of businesses in the US, associated with the initial spending by sports betting patrons and the downstream impacts of that spending, is expected to total $41.2 billion.
• Sports betting operations are expected to support $4.0 billion of direct labor income (e.g. wages, salaries, benefits and tips), and $7.0 billion of indirect labor income, representing $11.0 billion of total labor income.
• The direct employment impact, representing employment in sports betting operations, is expected to total 86,819 jobs. Additionally, 129,852 indirect Economic Impact of Legalized Sports Betting 5 and induced jobs are expected to be supported, resulting in a total employment impact of 216,671 jobs.
• Sports betting is expected to contribute $22.4 billion to US GDP.
https://search.proquest.com/accountingtaxbanking/docview/2038712387/D09C86A98CE94646PQ/3?accountid=10730
The U.S. Supreme Court on Monday struck down a 1992 federal law that had so long barred gambling on individual sporting events. The recent ruling now frees states to legalize gambling on individual sports, thus opening a whole new line of business for casinos and betting-technology developers that promise to attract billions of dollars in wagers.
This saw shares of gaming and casino companies rallying on Monday. However, this also increases competition for casinos in Nevada, which until now enjoyed the monopoly of being the only state where sports gambling was allowed.
https://search.proquest.com/accountingtaxbanking/docview/2038912808/FCFED8E8918A45E4PQ/14?accountid=10730
U.S. credit card issuers are already caught in the middle of intense debates over guns, marijuana and cryptocurrencies. Gambling on sports is next.
A Supreme Court decision this week set off a race among states to legalize sports betting, which under federal law has long been banned outside of Nevada.
Numerous states, including New Jersey, Delaware, West Virginia and Mississippi, are eyeing the substantial tax revenue that stands to be collected from action-hungry fans.
Americans place at least $50 billion in illegal sports bets each year, according to an estimate last year by Eilers & Krejcik Gaming. The firm said that it expects 32 states to legalize such wagers by 2023.
https://search.proquest.com/accountingtaxbanking/docview/1732864152/87FDA602CADE4D2BPQ/15?accountid=10730
The world of fantasy sports is becoming far more popular across the world. Unfortunately, it is not getting the type of attention it wants. DraftKings and FanDuel, two of the largest and most lucrative fantasy sports websites, are involved in a controversy that many are likening to insider trading.
As we reported earlier in “Fantasy Sports Gambling 101”, fantasy websites are able to avoid gambling laws because these contests are considered games of skill and not games of chance. By compiling a better fantasy roster than others in any particular league, you can win prizes based on the collective entry fees — and some prizes are huge.
https://search.proquest.com/news/docview/1799423703/7D3163FAD0984CDBPQ/4?accountid=10730
Gambling critics are concerned fantasy sports wagering could create a new generation of problem gamblers.
Fantasy sports sites have attracted hundreds of thousands of Australians for more than a decade – now betting agencies are moving into the market.
http://web.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=4&sid=c553afe9-d66d-4b8b-8cc2-fa7390f52c3e%40sdc-v-sessmgr02
http://web.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=4&sid=e0c1fab9-4fe1-492e-ad46-d8c07b2d230f%40sdc-v-sessmgr02
Research has outlined many negative effects of disordered gambling. While gambling disorder exists among all US sociodemographic groups, college students are particularly vulnerable.
Estimates place the number of individuals in the United States who either currently suffer from or have suffered from a pathological gambling disorder in their lifetime at 0.6 percent, and an additional 2.3% have suffered from some non-diagnosable problem with gambling in their lifetime
Assignment 13
Legalizing sports betting won’t just bring the law in line with American attitudes and desires, it will also deliver powerful economic benefits, possibly generating $8 billion in local taxes, creating hundreds of thousands of jobs, and adding $22.4 billion to the gross domestic product, according to new a comprehensive study on the economic impact of a legalized U.S. sports betting market.
Using a Convenient Availability-Base Tax Rate Scenario, key takeaways include:
· Total economic output, representing sales of businesses in the US, is expected to be $41.2 billion.
· Legal sports betting operations, including wages, salaries, benefits and tips, are expected to support $11.0 billion of total labor income.
· Total jobs supported, both direct, indirect and induced, is expected to be 216,671.
· Legal sports betting is expected to contribute $22.4 billion to US gross domestic product.
· Fiscal impacts, consisting of state, local and federal tax impacts, are expected to total $8.4 billion.
The new ruling to legalize sports betting across the United States will allow a new line of business for casinos and betting technology providers, opening a potential $4 billion market for the industry. Casinos and racetracks will soon be able to take bets on sports and seem to be the clear winners from the new ruling. Legalizing sports gambling in all states will bring many positives to the economy and lessen the constant growth in the illegal gambling industry, but will also have some negatives, such as an increase in gambling addiction, especially for undergraduate students, and an increase in credit card theft is directly linked to legal sports betting.
https://www.bbc.co.uk/news/business-21501858
https://www.americangaming.org/sites/default/files/After%20Action%20Report_PDF-Web