World

Gambling’s Spread – The New York Times


Four years ago, live sports betting was illegal in most of the United States. Now, fans watching matches or attending matches at stadiums are blocked by ads that encourage them to bet on matches, not just watch as spectators.

This transition in sports betting began almost a decade ago, at first with the fantasy sports betting boom. Then, in 2018, the Supreme Court cleared the way for states to legalize betting on live games. Today, 31 states and Washington, DC, allow online or live sports gambling, and five other states have passed legislation allowing such betting in the future. Professional sports in the United States are now part of a multi-billion dollar corporate gambling business.

This change represents the largest gambling expansion in US history. Me and some of my Times colleagues have spent many months investigating how the industry has expanded and today I would like to highlight some of our findings.

Following the wider legalization of sports betting, casinos have partnered with sports betting platforms such as FanDuel and DraftKings, along with major professional sports teams, going state-by-state to promote sports betting. legislators accept it. Part of their persuasion toolkit? Millions of dollars in contributions from sports betting companies and their allies to those legislators’ campaigns.

We have found that representatives of the gambling industry have told legislators that they can expect to receive significant tax benefits from sports betting. In many states, that luck has dipped.

Take Michigan, home to the Detroit Tigers, Lions, Red Wings, and Pistons professional teams, along with two dozen other college athletics NCAA programs—in short, there are plenty of sports to bet on. Online sports betting begins in that state in January 2021, and the American Gambling Association predicts that state legislators can expect to collect more than $40 million in taxes each year. What has Michigan gained in the past year? Just $21 million in state and local taxes, according to the Michigan Game Control Board.

The gambling industry has also pressed states to keep taxes on sports betting low, warning that if states push the odds too high, sports fans will turn to the black market to bet on casinos. Unregulated website. Those warnings were misplaced. Several states, including New York and New Hampshire, have ignored industry advice and imposed the highest taxes on betting. They have seen bets placed at a higher rate per capita than many low-tax states. New York has seen so much betting — even with a high tax rate of 51 percent — that the state collected an extraordinary $546 million in taxes in the first 10 months of this year. That amount is half of the total state tax revenue on sports betting nationwide.

Many states also allow the gambling industry to offer hundreds of millions of dollars worth of tax-free bets to gamblers, essentially marketing the industry. Promotions are meant to entice new customers to form a new habit: betting on games. It’s the modern day equivalent of taking the free bus to Atlantic City casinos with a quarter thrown into the slot machines. Only Arizona sports betting operators have offered $205 million free bets. But for the states, the result is a huge shortfall in tax revenue projected in places like Michigan and Virginia. Some, including Virginia, have moved to cut tax-free bets.

The promotions are an example of how regulators excel in trying to monitor the industry when it is growing so fast. Rule enforcement is sporadic, penalties are mild or rare, and regulators often look to the gambling industry to police themselves.

A casino company, Penn Entertainment, co-operate with David Portnoy, founder of Barstool Sports, whose history of misogyny and racism makes him a public spokesman for sports betting.

To market the expansion of sports betting, gambling sites have reached unusual agreements with at least eight universities, including Michigan State, the University of Colorado at Boulder and Louisiana State University. Schools become partners with companies in exchange for millions of dollars in payments. These transactions raise questions about whether the promotion of gambling on campus — especially to those of an age prone to gambling disorders — aligns with the mission of higher education. or not.

At least $161 billion in bets have been placed since sports betting was widely legalized in the United States. This gambling boom is just the beginning. The betting companies have made it clear that the ultimate goal is to bring so-called iGaming to states across the country where customers can use their mobile phones to play blackjack, poker and style games other casinos.

Shooting Colorado Springs

Gail Collins and Bret Stephens discuss new House majority.

Consider obesity a consequence of our food system and environment, not a personal failure, Julia Belluz write.

Trump ended Roe v. Wade, but at a heavy price. Anti-abortion movement have to break up with him, David France debate.

Top 25 travel experiences: Christmas in Ethiopia and a swimming oasis in Oman.

Worst merger ever? How AT&T’s $100 Billion Deal to Buy Time Warner Goes horribly wrong.

Advice: How to handle holiday dinners if you have digestive problems.

Capital Diary: An additional concert ticket leads to a long and happy marriage.

Quiz time: Take our latest news quiz and share your score (GPA is 9.5).

Advice from Wirecutter: Winter is coming. Get good boots.

Life lived: Jason David Frank played the Green Ranger and later the White Ranger on the 1990s children’s television show “The Mighty Morphin Power Rangers.” He died at the age of 49.

Captain’s Late Victory: Patrick Mahomes received the ball with 1:46 remaining. Six plays, 75 yards, and a winning touchdown later, Kansas City had 25th win in a row.

Number 1 beat number 2: South Carolina Top Rated pass Stanford in overtime in an early season women’s basketball game.

The host’s opening loss: Qatar took to the world stage with an elaborate opening ceremony, then immediately tripped when their national team lost to Ecuador 2-0.

Today’s matches: Britain will rely on on an experienced team to Iran at 8 a.m. Eastern. The Netherlands vs Senegal match is at 11am and the US vs Wales is at 2pm

Captain America: Tyler Adams, 23 years old, owns a fierce nature shaped by family games like egg relay and spoons turning into screams.

Pronounce: you are must say Qatar is wrong.

Protests on the field: Several European teams decided not to wear armbands in support of gay rights after the organizers threatened to withdraw a yellow card. Follow today’s update.

Abraham Lincoln’s Gettysburg Address lasted two minutes, so short that the photographers present missed the moment. As a result, experts were never sure where exactly he spoke. Now a former Disney animator and self-proclaimed “Lincoln freak” said he solved the mystery.

Christopher Oakley, the detective, analyzed other photos of the day to position the photographers, then merged them with 3-D modeling software. After years of research, he presented his findings last week at the Lincoln Forum, a gathering of scholars and enthusiasts, to a standing ovation.

Harold Holzer, the forum’s president, called Oakley’s work “ingenious.” For enthusiasts, he said, discovering the exact location “is just as important as discovering where Moses received the Ten Commandments.”

The pangrams from Spelling Bee yesterday were news and exalted. This is today’s quiz.

This is Small crossword todayand a clue: Pour the juice over, like a turkey roast (five letters).

And this is Wordle today. After, use our bot to become better.


Thank you for spending part of your morning with The Times. See you tomorrow.

Postscript Times partial redesign of its newspaper editions to highlight weekend recommendations and reveal how our reporters work.

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button