Monthly Archives: April 2015

MLB says DFS isn’t gambling, but league will restrict players’ DFS activities

Major League Baseball (MLB) won’t let its players participate in daily fantasy sports (DFS) contests involving baseball if those contests involve the chance to win a prize.

One week after MLB significantly expanded its relationship with DFS operator DraftKings, ESPN reported that the league had reached a deal with its players’ association to restrict players’ DFS activities. Players will still be allowed to participate in DFS baseball contests provided there’s no chance to win something of value. There are also no restrictions on participating in non-baseball DFS contests and players retain the right to enter into endorsement deals with DFS baseball sites.

At this week’s IMG World Congress in Los Angeles, MLB commissioner Rob Manfred attempted to split hairs by saying that, while he doesn’t view DFS as gambling, players who enter DFS baseball contests for prizes will be subject to discipline under Rule 21, which deals with gambling issues.

Specifically, Rule 21 threatens players with a one-year ‘ineligible’ status for betting on any baseball game in which they’re not involved and a ‘permanently ineligible’ designation for betting on any game in which they’re directly involved. That latter designation is what’s keeping former Cincinnati Reds great Pete Rose out of the Hall of Fame.

A crazy lottery ticket scam that allows people to dodge taxes is making a big comeback

A tax scam as old as the lottery is making a comeback – buying losing tickets from others and using them to offset taxes owed to Uncle Sam. A Business Insider search of Craigslist and Ebay listings found people selling tens of thousands of dollars worth of losing lottery tickets for pennies on the dollar which can then be used to evade taxes by people claiming their actual worth on tax forms since gambling losses can be claimed as deductions.

Melissa Burr on Living in Mexico, Slaying the WSOP, and How Life and Poker Mesh: Exclusive Interview

Poker player and former pool shark Melissa Burr had an amazing 2014 at WSOP and beyond, but behind the scenes, the successful player has grappled with everything from losing loved ones to moving to another country. CardsChat News Editor-in-Chief Hannah Elisabeth recently caught up with Burr to find out where her poker career is headed […]

The post Melissa Burr on Living in Mexico, Slaying the WSOP, and How Life and Poker Mesh: Exclusive Interview appeared first on .

Melissa Burr on Living in Mexico, Slaying the WSOP, and How Life and Poker Mesh: Exclusive Interview

Poker player and former pool shark Melissa Burr had an amazing 2014 at WSOP and beyond, but behind the scenes, the successful player has grappled with everything from losing loved ones to moving to another country. CardsChat News Editor-in-Chief Hannah Elisabeth recently caught up with Burr to find out where her poker career is headed […]

The post Melissa Burr on Living in Mexico, Slaying the WSOP, and How Life and Poker Mesh: Exclusive Interview appeared first on .

Couple Who Both Lost Homes To Superstorm Sandy Win CT Lottery

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Louisiana bill aims to make fantasy sports legal; Schefter signs up for Fantasy Sports Combine

Louisiana representative Joe Lopinto has filed a bill, for the upcoming legislative session, that would legalize playing real-money fantasy football in the state.

As more and more US states open themselves up to daily fantasy sports sites that offer play-for-cash fantasy sports, Lopinto hopes that the state can join in on the fun soon. But doing so would require an amendment to the state’s current laws.

Lopinto told WWTL in Louisiana that the bills isn’t looking to create a major overhaul of the state’s gambling laws, but simply seek clarification that fantasy sports is not a form of gambling, but is actually a game of skill.

“We’re not betting on the outcome of a game or a point spread. Fantasy Football is a game of skill,” said Lopinto.

Oz trade minister wants Aquis project accelerated; South Korea relaxes rules on casino site

Australia’s Federal Trade Minister Andrew Robb is putting the full-court pressure on the development of the multi-billion-dollar Aquis project, saying it needs to be accelerated “by whatever means.”

Speaking with ABC Australia after meeting with tourism leaders in Cairns, Robb said that approval from the Queensland government needs to be obtained as soon as possible. Robb suggested that shouldn’t be difficult since the project has already cleared approvals from the Australian Capital Territory (ACT).

Robb added that Aquis’ backer Tony Fung‘s ambition of turning the region into a prime tourist destination is starting to take shape.

“He’s making huge investments into convention centers there,” said the trade minister. “It’s going to be of enormous benefit, thousands of jobs and lots of opportunity and it will be a magnet for other investment.”

Sportsbooks sweating a Jordan Spieth Masters win

Jordan Spieth put himself in pole position at the 2015 Masters with a scintillating first round and in the process, he’s just given sportsbooks a lot of reasons to be concerned.

The fourth-ranked golfer in the world had everything go his way in the first round of the tournament, crushing Augusta on his way to posting an 8-under par score in the first 18 holes of the tourney. The 21-year old did set a record, becoming the youngest golfer to lead the prestigious major after the first round. While all of that is great for Spite’s narrative heading into the final three rounds of the event, sportsbooks who opened his chances at 10/1 odds are now pacing uncomfortably at the looming possibility that they could be in for a huge loss should Spieth end up winning the tournament.

First of all, taking bets in golf is always a risky proposition for sportsbooks. The odds on the golfers are like futures props in professional sports leagues, except that instead of having full seasons to adjust and modify odds, sportsbooks have three days to do it. It’s not uncommon for long shots to rise up the field and become favorites after a successful first round of a tournament. Sometimes, the odds evolve slowly as a golfer slowly moves up the ranks in the first three rounds of a tournament, putting himself in contention to win the tournament in the final round. Remember Webb Simpson? He won the 2012 US Open as a 50/1 long shot at the start of the tournament. Entering the final round, sportsbooks were still offering odds as high as 28/1.

Spite actually opened as one of the favorites so at least oddsmakers had the foresight to keep his odds in check. But what books didn’t expect was the rush of bets they took in on Spieth in the days leading up to the Masters. Of all the golfers with posted odds, Spieth was the most bet-on contender leading up the tournament. More bettors took a shot on the rising star than those who put money on tourney favorite Rory McIlroy, who finished seven shots back at 1-under par after the first round.