-- is that it is unlikely to matter to many on this forum, especially in the short term, who already
have locals or offshore accounts. my reasoning is this. every state is initially looking at this
as a huge revenue producer. think of the Colorado state tax on marijuana. every state knows
that sports gambling is big business, but they don't understand how thin the margins
are except for parlays and teasers. their greed to generate significant revenue along with
the sports leagues having their hands out in addition to likely expensive oversight and
regulation costs will not make this a competitive gamble. this will be great for the squares
and outsiders who do not presently have any outs and initially will flock to bet until
they wise up or go busted. but the bigger and sharper players already have outs and know
value, will find many of these state's new offerings laughable. Delaware for example
makes a fair % return because they offer only 3 or more team parlays. their volume
isn't great because it's a poor bet. I doubt billy walters ever had any of his runners
stationed in Delaware to pick off their low hanging fruit. most states in their greed are
likely to follow a similar path (in fairness to Delaware it's all they were only allowed to offer parlays).
I expect single game wagering in many states not to be offered as low as -110.
the only hope for countering this is the major las vegas outlets like William hill, cantor, etc.
most states will consult with them on how to set up and run sports betting.
they will certainly tell the states how low the actual hold is and the best way
to make money would be to get volume by offering good odds. those initial
meetings between the states and the betting companies should be quite interesting.
here's hoping that common sense and a fair deal overcome greed and ignorance;
I doubt it but I hope i'm wrong.
have locals or offshore accounts. my reasoning is this. every state is initially looking at this
as a huge revenue producer. think of the Colorado state tax on marijuana. every state knows
that sports gambling is big business, but they don't understand how thin the margins
are except for parlays and teasers. their greed to generate significant revenue along with
the sports leagues having their hands out in addition to likely expensive oversight and
regulation costs will not make this a competitive gamble. this will be great for the squares
and outsiders who do not presently have any outs and initially will flock to bet until
they wise up or go busted. but the bigger and sharper players already have outs and know
value, will find many of these state's new offerings laughable. Delaware for example
makes a fair % return because they offer only 3 or more team parlays. their volume
isn't great because it's a poor bet. I doubt billy walters ever had any of his runners
stationed in Delaware to pick off their low hanging fruit. most states in their greed are
likely to follow a similar path (in fairness to Delaware it's all they were only allowed to offer parlays).
I expect single game wagering in many states not to be offered as low as -110.
the only hope for countering this is the major las vegas outlets like William hill, cantor, etc.
most states will consult with them on how to set up and run sports betting.
they will certainly tell the states how low the actual hold is and the best way
to make money would be to get volume by offering good odds. those initial
meetings between the states and the betting companies should be quite interesting.
here's hoping that common sense and a fair deal overcome greed and ignorance;
I doubt it but I hope i'm wrong.
