On the heels of the NBA’s Tim Donaghy scandal and the uncovering that most NBA referees place a wager or two in their spare time, some facts surrounding the history of gambling and sports’ symbiotic relationship were published on www.baltimoresun.com
In Nevada, the only jurisdiction in the United States with widespread legal sports wagering, the amount bet on athletic events during the 12-month period ending June 30, 2007, was $2.48 billion. That produced $175.64 million in revenue for casinos.
National Gambling Impact Study Commission….estimates….illegal sports wagering ranged from $80 billion to $380 billion. The estimated revenues on those handles would roughly be $3.7 billion to $17.5 billion, or roughly 20 to 100 times the cash generated by Nevada’s legal sports books.
As for the Donaghy situation and his officiating influence on the games he refereed,
Gambling expert R.J. Bell, who runs the sports betting information Web site pregame.com, pointed out that when he examined the games Donaghy officiated in the two NBA seasons from 2003 to 2005, the scores went above the over-under just 44 percent of the time. In the most recent two seasons from 2005 to 2007, when it is believed Donaghy was involved in illegal gambling activities, his games went above the over-under line 57 percent of the time. Bell said the likelihood of such a variance is 1,000-1. [LINK TO STORY]
So what’s your take away from all this information? Always bet the under? Don’t worry about illegal gambling, ’cause it ain’t going away? Nevada needs to market it’s entertainment value over its sports gambling? Never bet on the NBA? Pay your rent?
Why don’t we just institutionalize the sports gambling, legalize it in all 50 states, and leave Vegas to bachelor parties, shows, and long drawn-out blackjack nights with Vietnamese dealers named Charlotte. Why does Nevada get to reap all the tax benefits? Damn….we need schools and textbooks in Cali. too!
