Sucker Bet: New York To Legalize Sports Betting?
The Supreme Court cleared the way on Monday for states to legalize sports betting, wiping away a law that dates back to 1992 that had prohibited most states from authorizing sports betting. This may seem like a good idea on the surface, but trust me when I tell you, if New York legalizes sports betting, you can be sure they'll be doing so at your expense.
According to CNN.com The 6-3 ruling is a victory for New Jersey, New York and other states who have considered allowing sports gambling as a way to encourage tourism and tax revenue. The NCAA, NFL and NBA had backed the federal prohibition.
If there's two form of gambling that I absolutely love, it's poker and sport betting. Over the years I've had to curtail my sports betting because it can be a really dangerous and losing proposition. Everyone who watches sports thinks they have an edge versus the oddsmakers and therefore are educated enough to bet on the game. As a result, many uneducated gamblers are rejoicing.
Don't get me wrong, I believe that grown adults should have the right to choose whether or not they bet on sports, but I'm not sure that making it legal in New York state is good for us. Poker is a game of skill and requires me to travel to the Casino to play, often times investing many hours to play a quality session. That's not always a commitment I want to make.
But sports betting is a whole different animal. If New York jumps on board, it won't take long for people to be able to legally make sports wagers online or on their phone. Every night. Every day. All day. I've been there and trust me, it's ugly. Bettable games are on TV all the time and you don't have to leave the comfort of your own home to get that rush. Sit on the couch, watch a little ESPN and throw a few bucks (or much much more) down the toilet.
Watch what you wish for New York - surely on paper this may seem like a decent idea - but there's only one winner when it comes to sports betting in the good old state of New York. And I'm willing to bet anything it won't be me, or you.