The Gambler's Report 5/14/2018

Well, the wait is finally over. Monday, May 14th will go down in history as the day gambling became widespread in the US. The Supreme Court struck down the national ban on gambling in a historic ruling for the industry. And while that in itself will be the subject of several pieces and dominate the news for a while there are plenty of other items to cover as well in the world of gambling. Let's get right to it and take a quick look at the industry. 

The Federal Ban on Gambling Is No More

We are talking about the Supreme Court's decision to remove the ban on gambling. In a 7-2 vote, the high court ruled that Congress overstepped its authority in 1992 by banning states that did not already allow sports gambling. 

Justice Sam Alito wrote, "Just as Congress lacks the power to order a state legislature not to enact a law authorizing sports gambling, it may not order a state legislature to refrain from enacting a law licensing sports gambling,"

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By repealing PASPA, the Supreme Court has busted open the door that will allow any state to offer legalized sports wagering should they choose. New Jersey, who was the leader in this fight since it started years ago, should be first to act as much of the framework is already in place. 

NBA's Actual Championship Game?

The NBA's conference finals are kicking off with the Celtics stunning the Cavaliers last night 108-83. The Celtics came into the playoffs as the #2 seed but few gave them a chance with their plethora of injuries. Most saw them as an early round exit especially with superstar point guard Kyrie Irving out for the remainder of the year. It's only one game and Lebron still plays for the Cavs but this had to be a good win for the Celtics who are relying on several young players and rookies. 

And onto the Western Conference, we have what many consider to be the actual NBA Championship Series where the #1 Seed Houston Rockets are taking on the juggernaut known as the Golden State Warriors. Game 1 is scheduled for 9 PM ET tonight. The Rockets open tonight's game as a -1.5 point favorite against the number with an ML of -125. Golden State is the series favorite at -220. This should be an ultra-exciting series as superstars line the court for both team's loaded rosters. It's easy to see why many consider this the championship as the winner of this series will be a heavy favorite over their Eastern Conference opponent no matter which team emerges.  

MLB Season Lead by Baseballs Best Rivalry

Major League Baseball is approximately 25% of the way thru their season and the current best record in baseball is a tie with two familiar AL East rivals in the Red Sox and Yankees at 28-12.  The Astros and Yankees continue to be atop the odds to win the World Series at +490 and +525 respectively. They are followed by the Nationals and Red Sox at +790 and +895.  Looking for an early season surprise to follow?  Check out the NL East-leading Atlanta Braves atop the division at 24-15. They weren't supposed to compete for a few years but don't tell that to this young core of superstars. 

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Industry Report

While most of the industry will focus on the Supreme Court decision for the foreseeable future the offshore market is still pushing forward. No major issues to report with any of the major players across the board. A few smaller complaints from shops most have never heard of.  Always make sure to do as much research as possible when choosing to open a new account. Especially with some of these shops, many most have never heard of. 

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