Federal Ban on Sports Betting Lifted
Huge news Monday morning in the world of sports betting. The United States Supreme Court has ruled that the federal ban on the activity is unconstitutional. Congress or individual states are now free to legalize sports betting and offer it through local entities.
I can't tell you how long I've been waiting for this day to arrive. Many decades ago, I thought it was just a matter of time. After years (and YEARS) of waiting, I gave up hope. Our government, regardless of whichever party is in charge, has never been accused of having common sense. The 1992 law that barred sports betting was crazy at the time. Now, 26 years later, the door is finally open. Common sense has finally prevailed.
Of course, here in Las Vegas, sports betting has been legal for decades. Sports fans in the other 49 states have always been jealous of Nevada. Residents here can only hope that the law of unintended consequences doesn't mess up what we already have. What if the US Congress creates a national law that only allows betting on PRO sports and not the colleges? What if the leagues want a cut (instead of just being satisfied with increased advertising income from casinos or other betting outlets), and what used to be a standard vigorish of -110 goes up to -120 or -125?
For now, we can hope for the best. And, I can be proud that my chosen vocation no longer has to exist in the shadows of sports fandom. Sports betting is a part of being a sports fan. Always has been. Always will be.
What does this mean for students here in my Advanced College of Sports Betting and Handicapping? Today's homework assignment is something that will be very personal to YOU, and won't be something that can be finished in a day or a week. Wherever you live, you must now pay very close attention to your local betting options. If you live in states like New Jersey or Pennsylvania, you may be ready to bet in a matter of days or weeks. Legislatures and companies in those states have been planning ahead, and are going to hit the ground running. Follow developments closely, particularly those involving betting options and vigorish.
If you don't live in a betting-friendly state, you might live near one, and you can start planning trips to bet legally during the football season or for other big events. Obviously, this group should also be looking at options and vigorish.
If you're in a part of the country that will likely have limited legal options, you'll have to make do with whatever you were doing before.
Our world is about to change very quickly. Be sure you follow national and local media so you know what's happening at all levels. ESPN and other national networks do a good job with the big picture. Where you live, it's the little picture that matters more. Follow your local broadcast and print reports.
My best-case scenario:
*Everyone follows the Nevada model
*Everyone has reasonable expectations for income
*Pro leagues don't try to exploit their fans by forcing extra vig
*College conferences are content with improved TV ratings
My worst-case scenario:
*Congress forces all 50 states into a model that exploits bettors
*Pro and college decision-makers muck everything up
*State legislatures muck everything up with their own personal interests
*College sports are taken off the table
Though, it wasn't ideal to have betting legal in one state and not the other 49...the state of Nevada was actually pretty ideal! It would be a shame to lose that. The dream is to have all 50 states be like Nevada, not to have all 50 states screw everything up.
With all that going on, there's still the daily challenge of finding winners in the daily sports betting markets that currently exist. If you'd like some help with that, KELSO STURGEON'S BEST BETS can be purchased right here at the website with your credit card. Questions about extended service and combination packages can be answered in the office by calling office at 1-800-755-2255 during normal business hours. I do have great rates for extended packages that go through the NBA Playoffs, the MLB all-star break, or the full baseball season.
We took a break from our normal basketball/baseball sequence today to talk about the big Supreme Court news. I'll make sure Friday is a basketball day to get us caught up with the conference championship battles in the NBA Playoffs. Our next baseball coursework will likely be a week from today. Congrats to all of you who won with me Sunday afternoon with that 25-unit release on Boston (+2) in its 25-point blowout of Cleveland. Great to start off the conference championship rounds with such an easy winner.
Thanks for your attendance. The Dean of Sports Handicapping is confident that you will be able to make the most of whatever this brave new world sends your way. This is a historic day in our field. Possibly, the single most historic day in our field ever. Celebrate with those who are celebrating. See you again at the end of the week.