Today: 26.05.2018
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Americans lost $107B legally gambling last year.

Americans lose billions of dollars a year on sports betting, but stand to lose billions more if such wagers become commonplace nationwide. On Monday, the Supreme Court struck down a 25-year federal ban on sports betting outside of Nevada, currently the only state in the nation where it’s legally permitted. In a ruling that clears...
Time: 16:02     Date: 16.05.2018
US Living News: Americans lost $107B legally gambling last year. NY Post 24 - US News

On Monday, the Supreme Court struck down a 25-year federal ban on sports betting outside of Nevada, currently the only state in the nation where it’s legally permitted. In a ruling that clears the way for states to legalize sports betting, Justice Samuel Alito sided with the state of New Jersey in its six-year battle to legalize sports betting. The Professional and Amateur Sports Protection Act of 1992 effectively outlawed sports betting throughout the US, except sports lotteries in Delaware, Oregon and Montana, and licensed sports pools in Nevada.

Americans who made bets with gaming, lotteries and offshore regulated betting firms lost approximately $107 billion in 2017, an increase of 1.5 percent on the previous year, and that’s expected to increase to $118.5 billion this year, according to H2 Gambling Capital, a data and market intelligence firm based in the UK. That does not include unlicensed or “black market” activities. Sports betting’s aggregate losses — after wins are taken into account — are estimated to account for just $209 million of that in 2018, but will hit $7.5 billion in 2030, if it becomes legal nationwide.

Jay L. Zagorsky, an economist and research scientist at Ohio State University, estimates that if people in the US make bets at the same rate as those in the UK, Americans could wager $67 billion a year, less than the widely quoted figure of $150 billion. MGM Resorts MGM and DraftKings are just some of the companies that stand to benefit. DraftKings Chief Executive Jason Robins said the ruling will help the company “drive fan engagement.” MGM Resorts welcomed the Supreme Court decision and said in a statement that it will work to ensure the “integrity of sports.”

Lower-income Americans overwhelmingly engage in other forms of state-sanctioned gambling, studies show. Increased levels of lottery play have been linked with certain sections of the US population — men, African-Americans, Native Americans, and those who live in disadvantaged neighborhoods, according to one 2011 study of over 5,000 people published in the Journal of Gambling Studies. (The North American Association of State and Provincial Lotteries disputes these findings and said lottery players reflect the general population.)

Bernal said sports gambling will also introduce more young Americans to gambling on sports — rather than watching them for pure enjoyment — and introduce “in-play” gambling where gamblers will be able to bet on everything from whether New York Patriots quarterback Tom Brady touches his towel during a game to whether a soccer goalie takes a bite of a pie. The latter, in fact, actually happened in the UK (The goalie in question lost his job.) “There’s no grassroots movement for this,” Bernal said. “This is being driven by very powerful gambling interests with the help of a handful of self-serving politicians.”

But some lawmakers see it differently, and say legalizing betting will actually help regulate online betting and the massive illegal betting industry. Senator Orrin Hatch, a Republican from Utah, said Monday he would introduce legislation in his own state. “At stake here is the very integrity of sports. That’s why I plan to introduce legislation in the coming weeks to help protect honesty and principle in the athletic arena,” Hatch said in a statement. “Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own,” he added.

Living

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Opinion

Last US News - Opinion: Why GPS will never make the road atlas obsolete. NY Post 24 - US News
Why GPS will never make the road atlas obsolete.
Peter Dalbis has been alive for 76 years, and at least 50 of those were spent following directions in Rand McNally road atlases....
Last US News - Opinion: Deadbeat son is a sign of America’s failure to raise boys. NY Post 24 - US News
Deadbeat son is a sign of America’s failure to raise boys.
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Living

US Living News: Why GPS will never make the road atlas obsolete. NY Post 24 - US News
Why GPS will never make the road atlas obsolete.
Peter Dalbis has been alive for 76 years, and at least 50 of those were spent following directions in Rand McNally road atlases....
US Living News: Deadbeat son is a sign of America’s failure to raise boys. NY Post 24 - US News
Deadbeat son is a sign of America’s failure to raise boys.
Last week, a judge in New York ruled that a 30-year-old man must move out of his childhood home on June 1 after his parents...
US Living News: The 20 best reads for your summer break. NY Post 24 - US News
The 20 best reads for your summer break.
Looking for a book to take you away this summer? Grab one of these beauties and let your imagination run wild. How Hard Can...
US Living News: How I learned to love my online trolls. NY Post 24 - US News
How I learned to love my online trolls.
I don’t want to brag, but I have an especially strong following of Internet trolls. And this isn’t just anecdotal: Someone...
US Living News: Tiny cottage on the market for nearly $1M. NY Post 24 - US News
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Mysterious ‘werewolf’ killed in Montana.
A mysterious wolf-like creature was shot dead by a rancher in rural Montana — and even wildlife officials have no clue...

Business

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Xerox’s former boss gave up an $18 million golden parachute this month as he caved to pressure from billionaire Carl Icahn,...
Last US Business News: Trump administration reaches deal to save Chinese giant ZTE. NY Post 24 - US News
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The Trump administration has told Congress that it’s reached a deal on Friday that would allow Chinese telecommunications...
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Metro

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Metro News: Booze cruise brawl leads to gunfire, car crash. NY Post 24 - US News
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A horde of unruly booze cruisers started a brawl that ended in gunfire and a car crash in Brooklyn Friday night. The party...
Metro News: Emails show de Blasio officials put PR over homelessness. NY Post 24 - US News
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Sport

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The NFL was political spectacle long before Kaepernick.
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