Articles by David E. Ramsey

That may suggest that, as some legal observers have argued, the 1961 federal Wire Act is too old and too loosely written to prohibit online gambling. “The telephone is being used to facilitate these wagers and I believe the government has a solid case,” explains Tony Cabot, a Las Vegas-based gaming lawyer and author of a book on Internet gaming. Justice believes that any legislation addressing criminal misuse of computers or computer systems (including the Internet) should have three vital characteristics. In January, MegaSports began taking Internet bets from Australians; it expects soon to allow global gambling on sporting events. attorney’s case involved the casinos’ sportsbooks. But they say the more bettors, the better. “Think about what would happen to Wal-Mart (WMT), General Motors or Microsoft if these companies had to continue to dodge federal roadblocks to access their customers,” says Sebastian Sinclair, senior associate at Christiansen/Cummings Associates, a management consulting firm. But as more and more traditional firms become involved, the consumer will look for the brand name. The amount spent on Internet gambling is harder to calculate. Together, these sites have about 4,300 registered customers in 96 countries around the world. The Wire Act obviously has no mention of wagering over the Internet. “Federal legislation will make it difficult but not impossible for Internet gamblers in the U.S. Says Opel, “Bringing in the big names and established companies only adds credibility and visibility to what we’re already doing.”

Is it legal?

A few hurdles have to be cleared before such ventures can take off – beginning with the federal government. to gain access to offshore sites,” says Sebastian Sinclair of Christiansen/Cummings. “And it is possible that records could be subpoenaed of various banks where these companies maintain accounts.”

That partnership leads many observers to believe that an online casino – using Microsoft platforms, of course – is in the works. college and professional sports. But according to Inland CEO Don Speer, elusive profits need not be one of them.

The original version of Kyl’s bill failed most of these tests. … One Australian state, Queensland, is already awarding licenses for online gambling, and others may follow soon. “We get daily reports, and you’ll see these people who spend a couple of hours gambling, and the total amount they bet is like $1.81,” says Thomas Holmes, Inland’s head of technology.

First, legislation should treat physical activity and cyberactivity in the same way. citizens, it will be increasingly tempting for them to turn to locations abroad. Would-be wagerers open an account with a credit card, although some sites also accept cash and cashier’s checks. In a highly publicized March 1998 “raid,” Mary Jo White, the U.S.

Internet Gambling Worldwide, Past and Future

Nonetheless, some experts think the case could be made to stick.

The office of U.S. 474, introduced into the Senate by Arizona’s John Kyl in 1997 as the Internet Gambling Prohibition Act. (The company did not respond to repeated requests for an interview.)

Group calls for regulation of Net gambling

For years, another barrier to the growth of Internet gambling has been strong opposition from those most threatened by gambling sites: legal American casinos. But following a 1997 indictment, the state of Missouri settled a suit against the company and its president, Michael Simone, for about $35,000. . Legislators have considered enlisting Internet service providers to patrol for undesirable sites, although Internet gambling insiders consider that proposal dead on arrival.

But even if Congress comes up with the best-crafted legislation in history, there are significant factors beyond its control. Her higher-ups in the Justice Department appear to agree. If, on the other hand, an activity is in the physical world – betting on horses, or casino betting with Indian tribes – it becomes subject to federal criminal sanction when it occurs in cyberspace. O’Brien observes in Bad Bet, his comprehensive account of America’s gambling industry, “Judging by dollars spent, gambling is now more popular in America than baseball, the movies and Disneyland combined.”

Similarly, the Las Vegas-based public company American Wagering, owner of Leroy’s Horse and Sports Place in Nevada, also operates a sports gambling site located in Canberra called MegaSports (www.megasports.com.au). Legislation tied to a particular technology may quickly become obsolete and require further amendment. His equal partner is Australian tycoon Kerry Packer of the Crown Casino in Victoria.

So how is it that these companies appear to operate legally, but a dozen Caribbean cowboys found themselves under felony indictment?

Is Microsoft betting too?

The potential action is too compelling for even the largest tech tycoons to resist.

The prosecutors’ focus on sports bets appears to stem from legal precedent in the law they relied on. Why should it be legal to bet online on a horse race in another state, but not legal to bet on a basketball game in one’s own state? If Native American tribes can establish new, legal, physical places where adults can gamble, why shouldn’t someone be able to do the same in cyberspace?

Second, legislation should be technology-neutral. Almost all online gambling sites work the same. In 1998, the Senate passed, by a large margin, an amendment prohibiting Internet gambling, but that bill died before becoming law. In November 1998, for example, a division of Hilton Hotels acquired the company that runs Centrebet, a Web and telephone sports-wagering system based in Australia (www.centrebet.com.au).

All the sites indicted by the U.S. I’ve not had problems being paid.”

Running an online casino carries all the usual challenges of Internet businesses, from low click-through rates to servers that fail. The vast majority of customers will satisfy their demand for commercial gambling through less onerous and risky alternatives, such as lotteries, bingo, pari-mutuels and casinos.”

One major barrier to profitability is the law. In 1997, published reports put the total number of operating online casinos at 15. Like the Communications Act passed in the 1930s, technology has now leapfrogged the law.

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Some of the odds did seem pretty good. All three teams had to cover in order to win the bet, which paid off at odds of 6 to 1. You don’t have to worry about whether or not Duke coach Mike Krzyzewski set up special purpose entities in order to keep some of star player Jason Williams’ turnovers off the stat sheet. A friend of mine and I placed the same $20 bet on a 3-team parlay: Kent State, Missouri and Pepperdine. Just goes to show that you can’t discount the importance of luck any time you put your money to work.

I, however, was not so wise. Pepperdine, a 4-point underdog, played after these two games were finished. Kansas (boy did Holy Cross give the Jayhawks a scare!) isn’t going to announce that the NCAA is investigating it for improperly recognizing hundreds of points scored in Big 12 games from 1999.

There’s also the emotion factor. Huh? Ewan McGregor singing Elton John (quite badly I might add) is more worthy of the cinema’s highest honor than The Lord of the Rings, Gosford Park or In the Bedroom? Whatever.


It would have been nice to be able to make real bets on the Oscars though. I occasionally get angry emails from readers who disapprove of negative comments I make about stocks they own. “Best bet on the board?” observed my friend Jamey Tesler, “Ian McKellen for Best Supporting Actor at 6-1. So I did not hedge. If Wake Forest won by more than 4 points he would lose his parlay bet but win $20 on the Wake bet. It’s kind of like making a covered call on an option, selling the right to buy shares at a certain price while also having a long position on the stock.

Speaking of auditing, the fact that stats in college basketball cannot be manipulated is actually a reason why betting on a college basketball game might be a wiser move than buying a stock. If Pepperdine covered, we’d both win $120.

Why betting is better than investing

LAS VEGAS (CNN/Money) – This will be blasphemy to hardcore followers of Wall Street, those who think of the market as a rational way to try and accumulate wealth. OK, there certainly has been some point shaving in the past – - the City College of New York scandal of the 1950s comes to mind – - but that doesn’t even come close to the scam that was Enron.

Savvy strategies

Betting on sports is legal in Nevada and most of the casinos in Vegas have a section called the sports book where people place their bets and watch the games. But I, hate to admit, am a bit of a hypocrite in this regard.

Moulin Rouge was listed at 3-1 to win Best Picture: the second favorite behind A Beautiful Mind. Grrr)

Odds for the Oscars

My friend, being a prudent lawyer, decided to bet $22 dollars on Pepperdine’s opponent, Wake Forest. A sports book during the height of March Madness is a wild, profane, testosterone-charged pit fueled by greed and fear. (Go Quakers!) Part of me wants to bet big on Penn (they were four and a half point underdogs as I wrote this) so I can reap the financial rewards when they win. I was convinced that Pepperdine would cover. Sounds exactly like the trading floor of the New York Stock Exchange.

Betting on basketball isn’t even as risky as you might think. Pepperdine was competitive for the entire game but missed some crucial shots in the last few minutes (the bitter loser in me would say that they choked) and lost by eight.

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Most of my friends and fellow gamblers that I talked to would stick to betting on games with the spread but I foolishly followed the venture capital style of investing in college basketball. You can’t actually make bets – - they’re only for “entertainment purposes” – - but many of us were left scratching our heads about the favorites for the major awards.

I reacted quite angrily any time one of the CBS announcers said a bad thing about a team I bet on. Kind of like the way VCs invest in many risky companies with the hopes of having one big initial public offering make up for all the flops, I made several “money line” bets on huge underdogs. So it would essentially be a wash. Penn didn’t cover, losing by 7 after this story was published. When the color commentator pointed out that Tulsa is a small team, I probably did not need to act as if he was insulting my mother.

. Fortunately, a $100 windfall at a blackjack table that day kept me even for the day. Betting the money line means you think a team will win the game outright, regardless of the spread.

Like investing, gambling has a lingo that you need to learn in order to be successful. I maintain that getting too emotional about a stock is not a good thing. Kent State and Missouri both covered. Example. But another part of me is slightly worried. It was totally irrational. What if I bet on Penn with the spread and they don’t win but lose by only three? Would it make me happy to profit from a Penn defeat? This is too disturbing a thought to consider any further.

(Disgruntled writer’s note: As it turned out, my fears were for naught. But after spending most of Thursday watching college basketball at the Paris Casino’s sports book in Las Vegas, I can safely say that betting on the NCAA Tournament has a lot in common with investing in stocks.

In addition to the NCAA action, you can also get odds for the Oscars. (The spread is the number of points that the favored team is expected to win by while parlays are wagers that allow you to bet on several games in order to increase your payout.) And just as a market READ MORE

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Practice very good cash management. Evaluate a team’s probabilities objectively and not according to emotions.

4. Bet wisely by keeping your selections limited. Should you don’t follow the normal rule of 50%, at the least put some of one’s winnings back into your pocket

6. Contain the urge to bet with you winnings instantly. Pay attention to adjustments within the high quality of a team from 1 season towards the next and evaluate the modify of players and coaching staffs from one season to the next.. Rather, examine your handicapping methods and lessen your betting amounts until you start off winning again. Bet systematically and maintain accurate records. Pay attention to sportsbook commissions. Should you are a fan of a team attempt to limit the impact of that favoritism when betting. Evaluate a team objectively. Whenever you do run into the inevitable losing streak, do not panic and make the common mistake of betting larger amounts in an try to recoup your losses. In case you are going to bet on sports, it really is crucial to set aside a specific portion of one’s cash for betting. Bet against the odds. In case you turn into an professional on a smaller conference you’ve got a good likelihood to beat the residence. Specific teams constantly have a strong public following. Create your personal niche. Bet on games and leagues where the sportsbook’s commission may be the least. The best approach to win money at sports gambling would be to create a niche and follow it closely. Chasing your losses will be the single largest mistake a gambler can make. Betting often even though a systematically and analytical manner, 1 can enhance your judgmental ability. Study your team’s strengths and weaknesses and know their property and road records. When you start winning again, improve your bets slightly.

Follow Profitable Sports Picks online as your reliable source for sports odds and picks for all of your favorites including NFL, NCAA Football, NCAA Basketball, NBA, and MLB.

3. High value bets can often be found by betting against these teams because the odds makers adjust the line to reflect the expected quantity of public funds so the underdog is typically listed with much better odds or perhaps a bigger point spread than they actually deserve.

Author’s Bio: 

1. Keeping accurate records of one’s wagering activity will improve your winning percentage. Keeping records of statistics will allow you to to stay away from destructive wagering patterns and, simultaneously will allow you to spot trends that may offer you an edge.

2.

5. This is usually within the sport or sports with which that sportsbook does the majority of its business, as it is likely probably the most efficient in that region.

7. Don’t chase your losses. Also make an effort to limit the influence of bias within your betting READ MORE

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Some large companies have policies against involvement with gambling, which reduces exit opportunities for companies in the business.

No one seems more qualified to exploit the opportunity than social gaming company, Zynga, with their established user base, expertise in driving engagement and virality, and iterative data driven product development process.

If online gambling laws continue to be relaxed across the United States, it could represent a massive opportunity for entrepreneurs and investors. They’ve already hired an executivefrom 888 Holdings, a gambling company, begun investing in state and federal lobbying efforts, and have applied for an operator license in Nevada and expect to launch their first real-money gaming products in international markets in the first half of 2013.

Concerns over social responsibility will have some consequences on investment considerations in the market.

Rational Group, the Isle of Man-based company that operates PokerStars, the world’s leader in real-money online poker, acquired the Atlantic Club Casino Hotel, one New Jersey’s 12 licensed casinos and will obtain and NJ Casino license with the transaction. Nevada’s law, signed on February 21st of 2013, lets land-based casino operators offer online poker only.

Given the lengthy licensing process and regulatory concerns, new entrants are looking to partner with currently existing casino operators. Overseas, online betting is generating an estimated $32 billion in annual revenue — nearly the size of the United States casino market. Schmidt, Google’s Executive Chariman.

Many believe that online gambling will soon become as simple as buying an e-book or streaming a movie, and that the convenience of being able to bet from your couch, will present incredible opportunities for entrepreneurs.

MGM Resorts and Boyd Gaming Corp, its partner in the Borgata casino in Atlantic City, have arrangements with Bwin.Party, which runs Internet gambling from Gibraltar.

Betable allows social game developers to add real, working gambling mechanics to their games.

Chris DeWolfe, a co-founder of the pioneering social site Myspace, is launching a gaming studio with a gambling component.

In addition, some large public equity investors, such as hedge funds, have policies against investing in gambling related companies and some general and limited partners of venture capital and private equity funds have similar policies, which could reduce liquidity in private markets.

Offline gambling is a massive market with validated demand, and many believe online gambling will be llarger. . Delaware recently passed similar laws. Investors include Jeff Bezon’s, Founder of Amazon, and Eric E. Juniper Research estimates that betting on mobile devices alone will be a $100 billion worldwide industry by 2017.

In the U.K., Zynga has partnered with Bwin.Party to offer games such as “FarmVille” slots for real-money betting.

New Jersey’s Governor Chris Christie recently signed a law allowing Atlantic City’s casinos to run websites that take bets on games such as blackjack, slots and poker, but require bettors to be physically present in the state READ MORE

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This plant is expected to increase the share of renewable energy in total electricity generation from 13% to 42%.

Morocco bets on solar power

A new concentrated solar plant in Morocco will be the world’s largest when completed. Morocco is investing heavily in renewable energy to reduce its dependency on fossil fuels.

Morocco bets on solar power

Even at night, the plant will be able to provide energy, thanks to the power of salt. A cylinder full of salt is melted by the warmth from the mirrors, and stays hot enough when the sun goes down to provide up to three hours of power.

Morocco bets on solar power

Morocco bets on solar power. It could produce enough energy to power over one million homes by 2018 — lowering carbon emissions by an estimated 760,000 tons per year.

The complex, opened in February 2016, is the first of several phases.

Morocco bets on solar power

Morocco bets on solar power

The plant uses concentrated solar power technology which is more expensive to install than photovoltaic panels, but able to store energy for nights and cloudy days.

Morocco bets on solar power

Morocco bets on solar power

Morocco bets on solar power

On the edge of the Sahara desert the sea of metal mirrors capture the sun’s rays and use it to heat a liquid which, when mixed with water reaches 400 degrees Celsius.

Morocco bets on solar power

Morocco bets on solar power

The construction of the plant cost $765 million and is expected to have a capacity to generate 160 MW.

Solar mirrors at the Noor 1 concentrated solar power plant outside the central Moroccan town of Ouarzazate slowly follow the sun as it moves across the sky during the day.

The steam produced from this process drives a turbine and generates electrical power.

Morocco’s environment minister Hakima El Haite walks in front of a solar array in 2015 that is part of the Noor 1 solar power plant, which opened in February 2016 READ MORE

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For example, a bettor could include four different wagers in a four-team parlay, whereby he is wagering that all four bets will win. The scheme was discovered when Delhi police recorded illegal dealings between Indian bookmaker Sanjay Chawla and Cronje. Sports Betting, Sure Thing; Internet Betting, Nyet! (press release)

^ Fairleigh Dickinson University’s PublicMind, (April 20, 2009). “N.J. These are wagers offered as alternatives to straight-up/moneyline prices in baseball, hockey, or soccer, respectively. Retrieved 22 June 2013.

^ “How Hansie Cronje became most infamous villain in cricket’s fixing scandals”. “NFL and ICC’s Stance on Betting”.

^ Finley, 2008

^ “Famous Cricket Spot-Fixing and Betting Scandals”. Modern research has suggested that the claims of betting were unsubstantiated.

Actions

In Asian betting markets, other frequently used formats for expressing odds include Hong Kong, Malaysian, and Indonesian-style odds formats. Examples include predicting the number of goals each team scores in a handball match, betting whether a player will score in a football game, or wagering that a baseball player on one team will accumulate more hits than another player on the opposing team.

Parlays involve multiple bets (usually up to 12) and will reward a successful bettor with a large payout. Just as many voters approved (42%) as opposed (42%) allowing sports betting. In-play betting is a feature offered by some online sports books that enables bettors to place new bets while a sporting event is in progress.

Bookmaking

Main article: Bookmaker

Contents

Sportsbetting has resulted in a number of scandals in sport, such as the 1919 World Series, the alleged (and later admitted) illegal gambling of former MLB player Pete Rose, and former NBA referee Tim Donaghy, effecting the integrity of sports events through various acts including “point shaving” (players effecting the score by missing shots), bad calls from officials at key moments, and overall match fixing (“the fix is in”).

v

t

e

Interestingly for New Jersey, in a national poll released in December 2011, Fairleigh Dickinson University’s PublicMind asked voters whether they “support or oppose changing the federal law to allow sports betting” in their respective states. In these bets, bettor predicts competitors results against each other and not on the overall result of the event. American Gaming Association.

^ ABC News. These bets feature a fixed point spread that (usually) offers a higher payout for the favorite and a lower payout for the underdog (both in comparison to the moneyline).

Future wagers. Newsworks.org.

^ Fairleigh Dickinson University’s PublicMind, (August 21, 2012). Journal of Prediction Markets. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. 55 Austrian tennis player, Daniel Koellerer, became the first tennis player to be banned for life for attempting to fix matches. US odds of 100 are an even bet.

In 2012, despite federal law preventions, the state legislature of New Jersey and Governor Chris Christie signed a law that would allow sports betting to take place in New Jersey race tracks and Atlantic City casinos.[15] In August 2012, Fairleigh Dickinson University’s PublicMind conducted a study on the issue. Odds for such a bet generally are expressed in a ratio of units paid to unit wagered. “Sports betting should be legal in the Garden State”. In addition, on August 2010, he facilitated betting by placing odds for matches and had links for placing bets.[23]

Stadium anthem

Football chant

Fight song

Bookmakers usually hold an 11-10 advantage over their customers–for small wagers it is closer to a 6-5 advantage–so the bookmaker will most likely survive over the long term. Martin’s Press ISBN 1-57954-927-6

Thompson, William (2001). By the beginning of the third quarter, notorious Vegas bookmaker Frank Rosenthal received forfeiture notices from 246 San Francisco bettors totaling more than $25,000 in premature winnings. However, voters who already live in households where family members (including themselves) engage in sports betting had a strongly favored legalization of sports betting (71%-23%), while voters in households where sports betting is not an activity, opposed legalization (46%-36%). “Sport” Sullivan was an American bookmaker and gambler from Boston, Massachusetts who helped to initiate the 1919 Black Sox Scandal.

Cheerleading

Haka

Hooliganism

Sports betting

Sports tourism

Tifo

External links

Fan loyalty

Philosophy of sport

Racism in sport

Spectator sport

Sports fan

Sports rivalry

Cultures by sport

Arbitrage betting

Betting pool

Financial betting

Friendly political wager

Parimutuel betting

Point shaving

Sports betting systems

Statistical association football predictions

Other

In areas where sports betting is illegal, bettors usually make their sports wagers with illicit bookmakers (known colloquially as “bookies”) and on the Internet, where thousands of online bookmakers accept wagers on sporting events around the world. Half of New Jersey voters (52%) said that they approved the idea of legalizing sports betting at Atlantic City casinos and racetracks, 31% opposed it. They are the ratio of the amount won to the stake – the solidus “/” is pronounced “to” for example 7/1 “seven to one”. NJ Voters Favor Sports Betting, but not Tax Credits for Meadowlands Developer (press release)

^ Fairleigh Dickinson University’s PublicMind, (April 18, 2011) Odds Favor NJ Referendum on Sports Betting (press release)

^ Fairleigh Dickinson University’s PublicMind, (February 21, 2011). Opinion divided, but majority give the state the green light to allow sports betting in defiance of federal law (press release)

^ Fairleigh Dickinson University PublicMind Poll “US Public: Keep Las Vegas in Las Vegas” press release (March 2010)

^ Shriver, Roger. Decimal odds of 2.00 are an even bet. The line read: Miami -3, Oklahoma City +3. Results showed that nearly half (45%) of voters wanted to allow sports betting, while (38%) decided to wait and allow sports betting once Congress allows it. Sometimes you can also bet a “tie”, in which one or both drivers either have the same time, drop out, or get disqualified.

Totalizators. For him to win his bet, Miami would have to win the game by 4 points or more. Cricket

See also

Booing

Cheering

Crowd abuse

Pitch invasion

Trash-talk

Violence

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Gov. They don’t understand that it’s a lot easier to monitor betting trends in legal books than with an illegal bookmaker operating out of a corner bar.

Should the door open in New Jersey, though, other states will surely follow, much the way they did when Atlantic City became the first place outside of Las Vegas to legalize casino gambling. “This is an area with some of the most storied franchises in American sports where billions of dollars are already bet on sports illegally.”

Of that, there is little doubt. Betting is limited to the expected finishing position of the horses on the track.

For now, though, the NBA and the other major sports leagues are lining up against betting in New Jersey. Lawyers for the four leagues and the NCAA will argue Oct. “I hope that signals a re-evaluation of what is obviously a mindset that does not comport with 21st Century reality.”

. District Judge Michael Shipp that the injunction he issued last year upholding the ban should stay in place despite Christie’s announcement that the state would not be involved in regulating the betting.

Mostly empty now except on racing weekends at the horse track little more than an hour from Manhattan, it may not stay empty long. Depending on how a judge rules, it could soon become the first fully functioning — and fully legal — sports book in the country outside of Nevada.

“We’re built out and ready to go,” said Joe Asher, who heads operations for betting giant William Hill U.S. And last month NBA Commissioner Adam Silver said at a business conference that he was not opposed to the idea of sports betting and expected his league to participate in it at some point

Right now all they’re selling at the sports bar at Monmouth are food and drinks. “This is a very sizeable market.”

Unfortunately for would-be bettors, not everyone is enamored with the idea of sports betting. The online market could explode, much like it is in Nevada where 36 percent of William Hill’s handle comes through bets on its mobile app.

“I believe the New Jersey market once fully up and going would be at least three times the Nevada market,” Asher said. Daily fantasy sports wagering is exploding online thanks to a loophole in the federal law, and looks very similar to sports betting.

It might not be long, though, before you can order an NFL three-teamer to go with that trifecta on the ponies.

Asher says that if sports betting is allowed in New Jersey it could dwarf the $3.6 billion that was wagered legally on sports last year in Nevada, opening up an entire new industry on the East Coast. There’s no shortage of sports fans in the New Jersey/New York area, and bookmakers believe they will line up from opening day on with fistfuls of cash to wager on games.

The William Hill Race and Sports Bar would become the William Hill Race and Sports Book. It might even help rescue Atlantic City casinos that are struggling to attract customers in the wake of casino expansion around the country.

And the sharp guys from Vegas are poised, ready to jump in when they get the word.

The NFL, meanwhile, holds games every year in London where there are betting parlors on every block offering a line on the action. An end-run around the federal prohibition of sports betting in all but four states is once again in play.

New Jersey residents want it, voting overwhelmingly in 2011 to permit sports betting at race tracks and casinos. 31 before U.S. Chris Christie signed a bill into law approving sports betting, only to see it derailed in court because it conflicts with federal law.

“Obviously we read with great interest Commissioner Silver’s comments,” said Asher, whose company runs more than 100 locations in Nevada and 2,400 shops in the United Kingdom.

There are some signs that even that may be changing. And that could be a game changer for anyone in New Jersey who likes to have a little action on their favorite team.

There’s a brand new sports bar at Monmouth Park with televisions hanging from nearly every available rafter.

But now the issue is back before a federal judge, and all bets are off. They’re stuck in the past, still believing that betting on sports draws undesirables and is somehow a threat to the integrity of the games themselves READ MORE

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