5 Things To Know About The New Way To Bet On Sports
There’s been a lot of hype around the U.S. Supreme Court overturning a ruling on betting, but what does that mean for you, your paycheck and your state taxes?
There has been a lot of hype around the U.S. Supreme Court overturning a ruling on betting, but what does that mean for you, your paycheck and your state taxes?
Going all in,
The Last Night’s Game Team
Where were we? Before the ruling, if you wanted to place a bet on the outcome of an individual game it was illegal in all states, besides Nevada. The key word is individual games as other states had sports betting. Despite it being illegal to bet on individual games everywhere except Nevada, over $4.7 billion was bet on the Super Bowl - 97% illegally.
What does that mean for the cash burning a hole in my pocket? It will take some time for this to flush out. Much like legalizing marijuana, betting on individual games is determined at the state level. There are six states that are already working on laws to start operating. New Jersey is leading the pack, planning to take legal bets by Memorial Day, with other states hoping to get everything in place in time for the start of football season (Sept). WHY MARK CUBAN IS A BIG FAN
Everyone is looking to get a piece of the pie including professional teams that are hoping to drive attendance. Look no further than across the pond where many European sports stadiums have betting stations inside so you can bet while at the game. Adding live betting could help increase attendance at sporting events.
When we say everyone wants a piece of the pie, you didn’t think Uncle Sam wouldn’t be standing in line for a slice. Remember, winnings are taxable (provided the bet is legally placed). While those taxes may seem like a great revenue generator, don’t hold your breath. Sports betting revenue is a drop in the bucket for Nevada where it accounts for only two percent of the state’s gambling revenue. TAX ME
Ready to go all in? Here’s where your state stands as it relates to being able to place a bet on an individual game. Curious how to bet? Here’s our Five Things To Know About Sports Betting.
The trifecta to get you through your day
Keep up on the office chatter with today’s hot topics including why peeing in a cup could be hazardous to your baseball career, is P. Diddy the newest owner of a football team and which team literally won the lottery? READ
5 Thought-Provoking Things To Know About Wimbledon
The Grand Slam tournament is in full swing so put on your Wimbledon whites to volley the tennis conversation at work, at home or while you’re out at happy hour.
See you on centre court,
The Last Night’s Game Team
PS – In case you’re not into tennis, we have the other trending topics below for you as well. For the win!
Five Thought-Provoking Things To Know About Wimbledon
- Unlike the clay courts you might play on, the courts at Wimbledon are grass. As you can imagine the grass is slippery and as play continues the grass begins to wear down, causing the ball to have an unpredictable bounce. (Notice the dead grass when you watch a match). Wimbledon is the only Grand Slam Tournament (one of four during the season) that is played on grass.
- Like a famous Diddy party, you must wear white to play. (Is it P. Diddy? Puff Daddy now? Who can keep track?) All players are required to wear white to participate. You may remember the controversial white Nike dress from last year’s tournament. So far this year is without a Fashion Police incident.
- The traditional food of Wimbledon may not coincide with your white attire, but while you’re there you can tuck into some traditional strawberries and cream or a Pimm’s Cup cocktail. Don’t worry there’s also afternoon tea, a tradition since 1877.
- Nothing ruins your day or your match like a little bird poop. Well you don’t have to worry about that at Wimbledon either. Rufus is a specially trained hawk that keeps other birds off of the courts. (Seriously, have they thought of everything)?
- Everyone’s been fighting for it but Wimbledon has it figured out. No, not faster internet - equal pay. Both the male and female winners of the tournament take home the same amount in prize money - $2.8 million.
Overtime
- The four-city press tour began yesterday for the late August fight between Floyd Mayweather (boxer) and Conor McGregor (UFC – Ultimate Fighting Championship). As you can imagine there was a lot of trash talk between the two with f-bombs flying around like confetti and talk about “Money” Mayweather’s inability to pay his $22.2M tax bill. We’d be remiss if we didn’t mention McGregor’s suit featuring pinstripes containing a word that rhymes with duck.
Sideline stat
- The American League took home the win in last night’s MLB (Major League Baseball) All-Star Game. The fifth win in a row for the American League featured some magnificent at bats and a player stopping the game for a photo with an umpire. The Seattle Mariners’ Robinson Canó took home the game’s MVP honors.
Coaches’ corner
- A few other points about the current play in Wimbledon.
- Venus Williams made her Wimbledon debut a few months before her last competitor, Jelena Ostapenko, was born. Williams won the match and now advances to the semifinals.
- It’s been 17 years since an American man has won Wimbledon. Sam Querrey is our best hope and he’s playing today against England’s Andy Murray.
