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Gambling911.com welcomes Tony D. and the folks from PayPerHead.com to the family. The company serves as an offshore call center to bookmakers both in the States and abroad. In today’s discussion Tony D. discusses the Wall Street bookie and takes a look at an interesting trend over at ESPN.
It never ceases to amaze me the fact that sports gambling isn’t completely illegal in America yet, where everybody bets in one form or another: Either with a bookie, or online, in a racetrack, on a boat or in an Indian Reservation casino. And when we’re not betting in those places, at least we’re buying lottery tickets from any of the lotteries in 43 states (check the numbers in Wikipedia if you don’t believe me), or playing poker or bingo or playing fantasy football, which by the way feels very, very much like sports betting.
So it’s always good to see mainstream, positive movements in favor of the gambling industry. Look at what Wall Street firm Cantor Fitzgerald just did.
Being a bookie suddenly becomes an appealing profession to Wall St. executives
They have been gambling in the financial world for countless years, but now they’re moving to capture part of Las Vegas casino gambling market:
It turns out that live betting and casino action is in the map of this big firm. They even claim that they’re going to be “equal opportunity bookies”, allowing and even encouraging action from sharp bettors.
ESPN doesn’t dislike gambling news
Read Chad Millman’s opinion (ESPN’s resident gambling expert) about the sports betting industry, which is very positive in general and I think this small extract wraps up everything very nicely:
Q: How close are we to seeing sports gambling becoming legal in this country?
A: I think 10 years, tops. Delaware added NFL parlays last year. New Jersey has sued the department of justice to overturn the federal sports ban that was enacted in 1993. Back then the DOJ actually argued against Congress enacting the law because it was deemed a violation of state’s rights. Another piece of evidence is that the stigma surrounding gambling in general is fading away. In the past generation the number of states that have some kind of gambling—riverboats casinos, slots at racetracks, land-based casinos or casinos on Indian reservations—has increased from just a handful to more than 40. College students today do not know of a time when making a bet wasn’t widely accepted socially as a leisure activity. That attitude is partially why Internet sports betting sites thrive. People don’t see it as a dirty business anymore-for better or worse. It’s become sanitized. I can’t tell you how many people ask me if it’s illegal (it is). And states are so broke they’re asking why sports are the only form of betting they can’t capitalize on. The California state legislature recently introduced a resolution asking Congress to legalize sports betting, joining three other states that have done that as well in the past 12 months. Even David Stern can see the tide turning. Last year Ian Thomsen from SI did a great interview with the NBA commish asking him about his views on the subject. Stern said, “That leap is a possibility.” I agree.
You can read the whole interview here:
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