Sports Betting Exchange A.C.

breaking: NJ sports betting briefs filed by NFL et al

http://blog.northjersey.com/meadowlandsmatters/5969/nj-sports-betting-briefs-due-today/

by John Brennan

Wayne Parry, Associated Press

ATLANTIC CITY, N.J. (AP) – A bid by the world’s largest online poker website to buy an Atlantic City casino has gone bust.

The Atlantic Club Casino Hotel announced Wednesday that a purchase agreement with the British parent company of PokerStars has been terminated. Had the deal gone through, The Atlantic Club would have been the first casino in the United States to be wholly owned by an Internet gambling company.

Chief Operating Officer Michael Frawley issued a brief statement Wednesday morning saying the deal is off, but would not say why. He and a spokeswoman for the casino hotel declined to answer questions, but said the struggling casino will remain open. The purchase by The Rational Group, PokerStars’ parent company, had widely been seen as perhaps the last chance to save The Atlantic Club.

New Jersey legalized Internet gambling this year so long as bets are taken within the state’s borders and do not involve sports betting; the state is fighting a separate legal battle to try to enact that.

More:

http://cdcgamingreports.com/pokerstars-bid-to-buy-ac-casino-scrapped/?doing_wp_cron=1367430771.5113129615783691406250&goback=%2Egde_55896_member_237378625

http://blog.northjersey.com/meadowlandsmatters/5517/poker-group-backs-courts-game-of-skill-ruling/

http://www.drf.com/news/steven-crist-nyra-should-look-adding-wagering-menu-lowering-takeout

Stevem Crist

If you’ve been holding your breath waiting for anything about playing the horses in New York to change for the better, it’s time to exhale before you turn any bluer. The lesson from Thursday’s fourth meeting of the new New York Racing Association Reorganization Board was that things are moving even more slowly than anyone expected, and matters of genuine concern to actual customers seem to be falling further and further down the agenda.

No one thought that addressing major conceptual issues involving the future of New York racing was going to be a quick or easy task, but there seems to be a growing disconnect between that big picture and the ongoing operation of the racing game.

….

Players would, for example, welcome the addition of a low-minimum, low-takeout pick-five bet to the daily betting menu, a proposal made more than a year ago by former NYRA executives that has languished due to inattention rather than anyone’s objection to the idea. These kinds of bets have worked well at almost every track where they have been tried, generating new revenue and making customers feel that their concerns about affordability and takeout are being heard.

In the days before the state takeover, it was a grind to get something like a new bet approved in a different and dysfunctional political landscape. The once-powerful OTBs opposed any bet with a lower takeout, regulators stalled implementation with arcane concerns, and approvals were withheld month after month.

One of the benefits of the new political order was supposed to be that since the state was running NYRA, those roadblocks would disappear. Now, however, with no one at NYRA championing such changes and a board whose myriad committees don’t even include one on wagering, no one is even trying to make these changes.

More: http://www.drf.com/news/steven-crist-nyra-should-look-adding-wagering-menu-lowering-takeout

By Sandra Chereb The Associated Press

Private equity groups could soon place large bets at Nevada sports books and pump millions of dollars into the legal sports betting trough under a bill advanced Friday by a state Senate committee.

The Senate Judiciary Committee amended and approved SB346, which authorizes the Nevada Gaming Commission to adopt rules to regulate “entity” bettors.

Under existing law, only individuals can place wagers at Nevada sports books.

Nevada holds a monopoly on sports betting under a 1992 federal law. But supporters of the bill say it would position Nevada to capture some of the estimated $380 billion bet illegally on sports each year in the U.S.

Nevada books currently see a “handle” — or betting action — of $3.5 billion in sports betting annually. Some experts estimate that could triple over five years if the bill becomes law.

The bill was amended to address concerns raised by state gambling regulators over policing entities to guard against money laundering, underage gambling or illegal “messenger” betting, whereby someone gets paid to place a bet for someone else.

All members, partners, shareholders, investors and customers of the equity group would be required to register with the Gaming Control Board. The groups also would have to be located and operate in Nevada.

The bill sponsored by Sen. Greg Brower, R-Reno, now moves to the full Senate.

Another bill sponsored by Judiciary Chairman Tick Segerblom, D-Las Vegas, to allow betting on the outcome of federal elections also passed the committee.

More:http://www.nevadaappeal.com/news/6080670-113/nevada-bill-sports-betting

KATE ZERNIKE, NY Times

TRENTON — A generation ago, New Jersey introduced casino gambling to Atlantic City to boost the sagging fortunes of the nation’s most famous boardwalk resort.  ow, with the casinos themselves ailing — a shimmering $2.6 billion resort built with tax incentives announced last week that it was entering bankruptcy less than a year after it opened — the state is doubling down.

Having grown accustomed to the boost that gambling dollars provides its budget, the state is leading the race to embrace increasingly popular but still controversial models that would extend betting well beyond the destination casino approach.

Gov. Chris Christie signed a bill on Tuesday authorizing Internet gambling, which would allow people to play casino games from their mobile phones or laptops. He is also in court fighting a federal ban on sports betting, having signed a law last year that would legalize it.

At the same time, hotels in Atlantic City are experimenting with in-room gambling, as accessible and private as a minibar or on-demand movies. And lawmakers on the opposite side of the state envision pop-up casinos — one legislator likened them to county fairs — at concerts or sporting events.

Much as Atlantic City set the model for the explosion of casinos across the country over the last 20 years, New Jersey’s move signals the future of gambling, as states try to tap into the money already flowing to the black market or offshore betting companies, and entice a new generation of gamblers who might graduate from FarmVille to online blackjack, and ideally to an actual casino.

More: http://www.nytimes.com/2013/02/28/nyregion/new-jersey-tries-different-gambling-forms-as-casinos-fail.html?pagewanted=all&goback=.gde_100380_member_230805553&_r=0

AS VEGAS (KSNV & MyNews3) — There’s a battle brewing between two groups with very deep pockets in our state on one side big gaming in Nevada and on the other is a new player in town who wants to make it easier for gamblers to place a sports wager.

It’s a convenient way to place a sports bet when you’re on the go but the big casinos believe it’s unfair competition and they want them gone.

We’re talking about sports betting kiosks you see at local bars. The Nevada resort association is backing a bill that would eliminate the machines.

As News 3’s Sergio Avila shows us, those who run the kiosks say they just create more revenue for the state.

http://www.mynews3.com/mostpopular/story/Nevada-bill-would-outlaw-sports-betting-kiosk/LldU_3lpO0u1jEn5AfzIUQ.cspx

Bet on Red! Nevada May Legalize Gambling on Federal Elections

Federal elections in America have long been horse races without legal bookies. Some states outright outlaw putting money on political contests, while others simply omit such gambling from lists of permitted practices. But this week, a Nevada lawmaker proposed a bill that could give citizens the opportunity to gamble on their favorite candidates. “I don’t see why there should be some prohibition, or some moral qualms,” says State Sen. Tick Segerblom, the lawmaker behind SB 418. If passed, the bill would allow wagering on presidential elections and primaries in Nevada, as well as those for seats in the Senate and House of Representatives.

By JOE DRAPE

Published: March 27, 2013

http://www.pressofatlanticcity.com/communities/atlantic-city_pleasantville_brigantine/fantasy-sports-betting-at-atlantic-city-casinos-won-t-be/article_c591f4ae-9027-11e2-827e-0019bb2963f4.html

By HOA NGUYEN Staff Writer

Denied the chance to authorize sports betting, New Jersey is turning to a similarly popular activity that carries little risk of being challenged in court, observers said.

The Division of Gaming Enforcement published temporary regulations Monday authorizing casinos to operate fantasy sports tournaments, allowing them to charge patrons an entry fee and pay out winnings through the casino cage similar to what gamblers of slot machines and table games experience but with one key difference. The activity is not considered gambling.

Fantasy sports tournaments are contests in which participants create and manage a team — made up of individual players from various real teams — which competes against other fantasy teams based on statistics players generate in the course of playing real games. While some people argue the activity is a form of gambling, professional sports leagues, who sued New Jersey to block the state from authorizing sports betting said in the course of that lawsuit that they viewed fantasy sports as recreation and not real wagering.

“This is an alternative,” Joe Brennan, director of the Interactive Media Entertainment Gaming Association, said of the state’s new fantasy sports regulations. “The leagues can’t argue against it, because they lobbied so hard for it.”