No, this isn't about March Madness. Sports betting has been a hot topic of debate over the last few months in my home state of New Jersey. The aftermath resulted in NCAA withdrawing 6 events the were originally played in New Jersey venues this year including a Div. 1 Women's basketball regional. This also removed the Prudential Center and IZOD Center from the list of NCAA potential event sites for future use. With a recent court decision going in the NCAA's favor. The NCAA reversed the ban — but the damage has already been done in form lost revenue the these events would brought.
For those who don't the history, the Professional and Amateur Sports Protection Act of 1992 allows for 4 states (Nevada, Montana, Oregon, & Delaware) to have some form of sports betting (sportsbook) or lotteries and had a provision clause for New Jersey to enter by January 1, 1993. The New Jersey Assembly failed to get a bill passed by the deadline and really didn't show much interest pursuing the matter over the last 20 years.
So why now? Overall the "why" has to with New Jersey's financial crisis and steady decline of (let's be honest... dying) the state's casino and horse racing industries. Allowing sportsbooks in Atlantic City casinos and or at race tracks like Monmouth and the Meadowlands certainly could breathe new life and create jobs on top of the revenue.
There's no guarantee however that New Jersey would have the same kind of success that Nevada has enjoyed for decades. In 2009 Delaware passed a law that allowed for betting on all sports. The NFL, NBA, NHL, MLB, and NCAA filed a lawsuit stating that the Delaware law violated federal law. The US Supreme Court ruled that the Delaware law only partially violated the federal law and when it was all said and done Delaware's sportsbooks could only bet on NFL games which in 2011 only netted the state a whooping 4.4 million dollars(That hardly seems worth it).
While New Jersey is trying to save 2 industries, they're possibly handicapping (no pun intended) others. While I don't see the NFL taking next year's Superbowl away it certainly could affect future considerations. The NCAA has made it perfectly clear that they aren't a fan and a prolonged ban on NCAA events for New Jersey venues would especially hurt the Prudential Center and the IZOD Center in long run as they compete with Madison Square Garden and the Barclays Center for sporting events. In 2011 Newark made well over 15 million dollars because of March Madness alone that was a huge boost to local businesses. With the Nets now in Brooklyn, and shortened NHL season due to the lockout that's a lot of lost $$ on top of an estimated loss of 6 million dollars after being removed from the list of host sites for the 2014 & 2015 NCAA Men's basketball tournaments. New Jersey arenas cannot afford to lose that kind of money or ground.
It's estimated that 380 billion dollars is made yearly on illegal sports betting. With the economy the way it is right now most states (not just New Jersey) trying to find ways to bring in money that don't include raising taxes. Sports betting seems to be a option for a lot of state legislatures right now and have been watching to see how New Jersey fares in the courts. The NFL, NBA, NHL, MLB, and NCAA can't be short sided to see that much of the infrastructure they make their money from is comes from state and local governments footing the bills for the stadiums and arenas which teams play. Let's be honest they ain't fooling anyone with "fantasy sports" either and sooner later they are going to have to share their profits.
This blog is dedicated to my rants and ramblings on the things I see in the world of sports
Showing posts with label March Madness. Show all posts
Showing posts with label March Madness. Show all posts
Monday, March 18, 2013
Place your Bets!
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Thursday, March 15, 2012
My Mom reads this blog, GLOW, March Madness, Mets, Jets, and other Quick Hits
I've come up for air. We've just finished a major equipment upgrade at work and there's a lot of sports news to cover so I'm gonna do a some quick hits:
My Mom Reads my Blog...
The Internet is an amazing thing. My mom told me last Sunday that she reads my blog. I don't know whether to be scared or proud.
Tate-Rousey=GLOW???
I've been catching some friendly ribbing from friends about my posts on Strikeforce's Tate-Rousey fight a few weeks ago. A Guy at church on Sunday stopped me and asked if I remembered GLOW (Gorgeous Ladies of Wrestling) from the 80's as in reference to the fight. I showed my age and that fact that I watched way too much TV as a kid (BTW Rob B. Hollywood and Vine, Broadway Rose, and Palestina were my favs). But I stated that the difference between the two is that Strickforce is real and GLOW was not. In the world we live in, it's easy to dismiss women as serious athletes in sports like boxing or MMA. Even in the testosterone filled steroid dominated world of fakeness that is pro-wrestling you got women who take their craft seriously like Sara Del Rey, Beth Phoenix, and Madison Eagles.
March Madness
It's the most wonderful time of the year... The Brackets are flowing, time to be of good cheer, something, something. So far I'm 3 for 4 on Brendon Loy's Living Room Times annual NCAA pool. But it's not how you start, it's how you finish , and this year Dokesy needs Kansas to win baby.... Cause I was bored, and when I'm bored I'm up for anything. And when I'm up for anything... I make stupid bets with friends... that might end up with me buying Subway Series tickets, plus food and drink if I lose big. Knowing my history with gambling I should start saving now.
Mets News
The dominoes are falling, and it's going to a another hard year in Metville. My friend said that Wilpon was going to have to pay and he was right. Speaking of Wright. Dave Wright is hurt. Not news I wanted to hear. The good news is that should I lose to My friend in March Madness bet good seats at Citi Field will be cheap. Bad News is should my and I both lose to his lovely wife... We'll be taking to the 4 train (or Metro-North) to Yankee Stadium. Rock Chalk, Jayhawk!
Jets News
Gang Green has a lot work to do this off season. There are a lot of holes to fill if they are going to get this team back to being contenders again. Safety, O-line, D-Line, and WR are their biggest needs. No Peyton. No problem. The Jets extended Mark Sanchez for another 3 years, but they need make him work a little. They have to put last year behind them and move forward.
The Nets and NBA trade deadline
Today is the day. Does Dwightmare end or will there be a sequel in the summer. Regardless what the the experts say. I think that the Nets don't have the pieces right now to get Howard. I've been hoping for the last week that they get Micheal Beasley for Minny, that would Deron Williams happy for the rest of the season.
My Mom Reads my Blog...
The Internet is an amazing thing. My mom told me last Sunday that she reads my blog. I don't know whether to be scared or proud.
Tate-Rousey=GLOW???
I've been catching some friendly ribbing from friends about my posts on Strikeforce's Tate-Rousey fight a few weeks ago. A Guy at church on Sunday stopped me and asked if I remembered GLOW (Gorgeous Ladies of Wrestling) from the 80's as in reference to the fight. I showed my age and that fact that I watched way too much TV as a kid (BTW Rob B. Hollywood and Vine, Broadway Rose, and Palestina were my favs). But I stated that the difference between the two is that Strickforce is real and GLOW was not. In the world we live in, it's easy to dismiss women as serious athletes in sports like boxing or MMA. Even in the testosterone filled steroid dominated world of fakeness that is pro-wrestling you got women who take their craft seriously like Sara Del Rey, Beth Phoenix, and Madison Eagles.
March Madness
It's the most wonderful time of the year... The Brackets are flowing, time to be of good cheer, something, something. So far I'm 3 for 4 on Brendon Loy's Living Room Times annual NCAA pool. But it's not how you start, it's how you finish , and this year Dokesy needs Kansas to win baby.... Cause I was bored, and when I'm bored I'm up for anything. And when I'm up for anything... I make stupid bets with friends... that might end up with me buying Subway Series tickets, plus food and drink if I lose big. Knowing my history with gambling I should start saving now.
Mets News
The dominoes are falling, and it's going to a another hard year in Metville. My friend said that Wilpon was going to have to pay and he was right. Speaking of Wright. Dave Wright is hurt. Not news I wanted to hear. The good news is that should I lose to My friend in March Madness bet good seats at Citi Field will be cheap. Bad News is should my and I both lose to his lovely wife... We'll be taking to the 4 train (or Metro-North) to Yankee Stadium. Rock Chalk, Jayhawk!
Jets News
Gang Green has a lot work to do this off season. There are a lot of holes to fill if they are going to get this team back to being contenders again. Safety, O-line, D-Line, and WR are their biggest needs. No Peyton. No problem. The Jets extended Mark Sanchez for another 3 years, but they need make him work a little. They have to put last year behind them and move forward.
The Nets and NBA trade deadline
Today is the day. Does Dwightmare end or will there be a sequel in the summer. Regardless what the the experts say. I think that the Nets don't have the pieces right now to get Howard. I've been hoping for the last week that they get Micheal Beasley for Minny, that would Deron Williams happy for the rest of the season.
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