Watch video · Last week, ESPN reported the NBA and MLB consulted with Indiana lawmakers to insert a 1 percent "integrity fee" into a sports gambling bill introduced in that state. These integrity fees could be used to pay for other regulations. The NBA wants real-time monitoring on wagering to detect any unusual activity or insider trading. 4 days ago · There is no offseason in the NBA’s hunt for revenue. Commissioner Adam Silver has long been ahead of the curve when it comes to preparing for the legalization of professional sports gambling, and now his league is the first in the U.S. to make a sportsbook operator an official partner. The NBA outlined five things a bill to legalize sports betting within New York should include.
The NBA Wants Sports Betting Legalized, And They Want a Cut of Your Wagers
Latest buzz, news and reports 10d. New Password Must be at least 6 characters and contain a number and an uppercase and lowercase letter. Hot Clicks, viral videos, pop culture and more. The league also wants to protect consumers, including age restrictions and a "rigorous licensing program" for operators. Email Address Enter valid email address Password.
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As the Supreme Court chews over the legality of the Professional and Amateur Sports Protection Act of , the federal law that heavily restricts sports gambling in the United States, a number of states are moving forward with legislation that would establish statutory framework in anticipation that such betting will be legalized. And ideally, the NBA would like a cut of any money wagered on professional basketball games in the United States. Spillane went on to point out that some gambling operators in countries where the practice is legal have agreed to pay such a fee, naming France and Australia as examples.
But such a proposal — which also has been floated in the Indiana state legislature as it considers its own sports gambling framework — was greeted with skepticism that bordered on hostility Wednesday in New York.
There is no need to divert tax revenue from the citizens of New York to a privileged few. Patrick Everson , who writes about the Las Vegas sportsbook scene and sports gambling for Covers. New York State Sen. And besides, as Windhorst mentioned in a story last year , the windfall the leagues could see from legalized gambling likely would be substantial even without a 1 percent cut of the action.
Consider the Premier League in England, where sports gambling is legal. The NBA began allowing its teams to sell advertising space on their jerseys this season. There is much that will need to be worked out, including whether leagues that already are raking in billions should be allowed to skim a little bit more off the top.
given a back massage that led to something steamier. 255. Showers. He began calming down. The first and most obvious victims of the government's lies are the 40,000 or so Americans who this year will become HIV-positive, overwhelmingly gay men or poor, inner-city drug users and their sexual partners.
After a few moments, he got up, and crawled towards us.
A representative from the NBA submitted testimony outlining the league's evolved position on legalizing sports gambling to the New York State Senate on Wednesday.
We believe a federal approach is the simplest way to create clear and uniform protections for the integrity of our games. States are scrambling to devise a plan should the Supreme Court rule to overturn the Professional and Amateur Sports Protection Act of , a law that established a federal ban on sports gambling. A decision is expected early this year, and some justices have indicated that they'd be in favor of removing the federal ban. The testimony then outlines five components the league would like to see included in a bill for legalizing sports betting in the state of New York.
Notably, one of the points suggests that the legislation should "recognize that sports leagues provide the foundation for sports betting while bearing the risks that sports betting imposes. Of the major American sports leagues, the NBA has been most attuned to the possibility of sports betting being legalized in the near future, and their desire to receive a portion of the bets placed comes as no surprise.
Commissioner Adam Silver said in July that he expects sports gambling to be legalized " in the next few years. Please enter your email address associated with the account so we can help reset your password.
Page 1 of 3 1 2 3 Last Jump to page: Results 1 to 10 of Join Date Nov Posts 9. Gambling Winnings While Receiving SSI I have a question that others have asked, and I've read their posts and responses, but my situation is a bit different. I am on SSI. On one day in , and separate day in , I had gambling winnings that generated W2-G forms from a video machine. I had had a similar winning some years before, and I was smart enough to walk away with it. I reported it to the SSA the next day, and I don't remember exactly what it resulted in, but it basically reduced my benefits for some months, which, of course, is right.
But on the day in and the day in , I lost all of the money I won before I left. From reading responses to other posts, I know some will doubt that, but I actually have proof of it in the form of spreadsheets and letters from the casino. I did actually lose all the money in the same visit on the same day on both occasions. I filed taxes both years which I usually don't need to do , and I reported the winnings but had no taxable income because I had the documented loss of the money.
I thought that was it, but have received a letter from the SSA asking myself and my representative payee who I did not tell about the winnings for the same reason--because I had lost them and because I was embarrassed to come in for a meeting and bring, among other things, "proof of winnings from" the casino involved. So I will go in with the W2-Gs and the letters from the casino stating I had a net loss on both days.
From reading other posts here, and from reading some on the SSA website, I'm now thinking I was wrong in presuming I did not need to report the winnings that occurred during the visits even though I lost it in the same visits. We do not subtract gambling losses from gambling winnings in determining an individual's countable income.
Though I'm not sure, having read that, I'm guessing that that might apply to my situation even though I did actually and can prove that I lost the money all on the same day during the same visit, in fact. So, my basic question is, what is likely to happen as a result of this? My intent was not to defraud. I knew the W2-G paperwork would be generated and sent to the IRS and shared with the SSA, but I thought that the fact that the winnings didn't count as income in terms of taxes meant that it was not income to me as far as the SSA would be concerned.