Archive for the ‘News’ Category

What has changed is that legal sportsbooks are now required by law to monitor and report unusual betting activity to authorities.

“Overtaxing legal betting will send bettors either outside state lines, city lines, or to the predatory illegal market and have profound negative implications for the legal market and also future tax revenues here.”

After a recent N.B.A. scandal, more writers and pundits have come out against legalized betting. But the case that they’re making is weaker than it appears.

Last week NBA stars were accused of faking injuries and insider trading. This type of thing has been going on forever — the difference is, now athletes are getting caught.

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The choice is clear: Illinois can preserve a stable, regulated marketplace by maintaining a tax structure that keeps operators and players in the legal market. Pushing players to bet more and shifting them to the black market are not desirable outcomes for anyone.

Legalized sportsbooks, and their cooperation with the NBA and law enforcement, are likely a big reason the scheme was uncovered at all.