Tulane Skins Fan Posted March 24, 2009 Share Posted March 24, 2009 TRENTON, N.J. -- From March Madness brackets to Super Bowl pools to illicit back room wagers, people bet on professional sports games every day. But they can do it legally only in four states, and only two states currently offer state-sanctioned sports wagering. With Atlantic City casinos in a financial free fall and New Jersey's budget in shambles, a state lawmaker filed a federal lawsuit Monday against the Justice Department that seeks to overturn a U.S. ban on sports betting. The casinos and their political allies say letting people bet legally on sporting events would let all 50 states in on a lucrative revenue source. State Sen. Raymond Lesniak, D-Elizabeth, said sports betting already exists, and will continue to whether states tax it or not. http://sports.espn.go.com/espn/news/story?id=4010970 Link to comment Share on other sites More sharing options...
armstrong001 Posted March 24, 2009 Share Posted March 24, 2009 TRENTON, N.J. -- From March Madness brackets to Super Bowl pools to illicit back room wagers, people bet on professional sports games every day. But they can do it legally only in four states, and only two states currently offer state-sanctioned sports wagering.With Atlantic City casinos in a financial free fall and New Jersey's budget in shambles, a state lawmaker filed a federal lawsuit Monday against the Justice Department that seeks to overturn a U.S. ban on sports betting. The casinos and their political allies say letting people bet legally on sporting events would let all 50 states in on a lucrative revenue source. State Sen. Raymond Lesniak, D-Elizabeth, said sports betting already exists, and will continue to whether states tax it or not. http://sports.espn.go.com/espn/news/story?id=4010970 Here's why this issue is being brought up. Government wants its cut. Link to comment Share on other sites More sharing options...
Tulane Skins Fan Posted March 24, 2009 Author Share Posted March 24, 2009 Here's why this issue is being brought up. Government wants its cut. Well, it is a consumption tax, which most conservative thinking people agree is at least the fairest of taxes. Honestly, if it keeps my income tax down and balances the budget... win win. Link to comment Share on other sites More sharing options...
armstrong001 Posted March 24, 2009 Share Posted March 24, 2009 Well, it is a consumption tax, which most conservative thinking people agree is at least the fairest of taxes.Honestly, if it keeps my income tax down and balances the budget... win win. Don't know if it would tax the bet or the profits. Regardless, I WOULD be all for a consumption tax - if the other taxes were elimintated. As it stands, this would just be on top of everything else. Link to comment Share on other sites More sharing options...
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