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CLICK HERE to Register for a free account and login for a smoother ad-free experience. It's easy, and only takes a few moments.Apologies to all our fantacy fans but I've had it with all of the ones that stand up and cheer at awkward Patriots game moments because one of their non Patriot fantacy players just got points. Annoys the hell out of me at Gillette.
They decided to (appropriately, imho) apply gambling laws to fantasy.That's not what happened. They didn't decide to prosecute insider trading. They expanded a law to include them that excluded them. Usually new laws are done through the legislature.
Why not have fantasy run by state lottery commissions? They can even subcontract it to Fan Duel and Draft Kings.Most states have an incentive to ban Internet gambling because gambling is a fairly finicky but often times lucrative revenue generator for the state (functioning effectively a regressive income tax). The problem is that if you have too many casinos and other gambling institutions like racetracks they tend to cannibalize each other's revenues and therefore you end up with lots of gambling institutions and no profit. A free market in gambling leads to suboptimal outcomes for both capital and the state which relies on those profits for revenue.
Internet gambling adds another variable to this already difficult balancing act, and unlike casinos and other such institutions, Internet gambling doesn't bring with it theoretically desirable economic development qualities like jobs and infrastructure development.
I'm not a huge fan of casinos as a silver bullet for economic development (because of the cannibalization issue) or gambling as a revenue generator (because it functions as a regressive tax), but just wanted to point out there's political economy to think about here, it's not just legislating morality as some might think (though problem gambling brings social and economic costs with it as well).
Why not have fantasy run by state lottery commissions? They can even subcontract it to Fan Duel and Draft Kings.
I think fantasy does not lend itself to brick and mortar operation. To the extent that the states have already adopted lotteries as revenue generators, fantasy would be a way to expand that franchise. There's no downside to the state. I'm not sure how that would fit in under federal laws that promulgate the other fantasy, that fantasy sports are not gambling.I think you still end up with some sort of cannibalization issue for your physical gambling properties, which have desirable qualities (jobs, mostly, but also acting as an anchor for further development) that digital gaming, or the lottery, doesn't do for you.
But I don't see anything particularly wrong with this idea if a state does want to go into the online gambling business. Some may cry socialism, but the guy with the Karl Marx avatar isn't going to complain.
The market is so saturated with their ads, they obviously know this is going to happen and they are just milking it for all it's worth while they can.
Good ruling, the law on gambling is stupid though. If you want to gamble or hire a prostitute or marry six people I say **** it. Government should stop being so concerned about people's personal decisions.
Sounds good at first, but...
Universal legalized gambling would seriously increase poverty and crime.
Legalized prostitution and polygamy? Abuse of women. (Not to mention the poor guy who has to deal with 8 wives nagging.)
Those ads are probably already paid for.I'm no businessman but is putting a 100 million dollars in ads good business sense if they're about to go down?
Two sides of every argument. How would legalized gambling seriously increase poverty? That statement makes a series of presumptions that are simply not true.
1. Gambling exist without limits with state run lotteries, tracks, casinos etc...I can walk into any casino or 7-11 with my life savings in tow and gamble it all. No moral stigma or government regulations attached to my particular wallet.
2. People will find a way to do what they want/desire regardless of law. Locks and laws only keep the honest/disinterested folks out!
3. Just like gun laws it only hampers the law abiding citizens without felonies. A criminal has access to guns without constraint. (And to anyone against guns, please spare me any "You are a gun lover" etc arguments. I own two weapons a 12 and 20 gauge shotgun that have trigger locks and have been locked away and not shot for over 9 years. thanks)
Just take a walk around AC (off the "strip") or the same in Vegas. I've done both. Not pretty or the type of country I want to live in.
Sure the lotto exists. But c'mon there's a huge difference between the lotto and full fledged gambling. Could you drop your life's savings or Timmy's college fund on lotto tickets?.. sure but who does? People who really want to gamble? Yeah they can find bookies and card games around, but even that is very limited in comparison to full-fledged legalized gambling and the marketing that goes along with it.
Face it. Humans for the most part are freakin idiots. Even if, I dunno, say Jet fans aren't dumb, but perhaps Pats fans are (just kidding). I wouldn't want to live in a country stricken with insane amounts of poverty and crime in one major group of people even if it meant the smart ones prospered. Bad enough as it is now.
I'd guess you may not agree because of your mention of guns (which I do support responsible gun ownership btw) and that usually means a very conservative "government bad" view, but some basic government to protect the masses from themselves is a good thing.
Sorry if my assumption of you having conservative views is incorrect. Even if so, you know what I mean.
A lot of online sportsbooks offer fantasy head-2-head wagers, where you are given the choice between 2 players and select the one you think will score the most points. It is the same as wagering on a team (i.e. bet $110 to win $100) and sometimes there is a "point spread" involved.I think fantasy does not lend itself to brick and mortar operation.