Companies are supposed to tell shareholders about risks to their investments...

JoeJester

Joined Apr 26, 2005
4,390
I've been to Foxwood (CT) Casino back in the mid 1980s. Driving to Atlantic City and driving across the state of CT to Foxwood is about the same time, as I have done both when assigned in NYC. The difference between the traveling to gamble and drugs are the residents of NYS did not travel outside of NY to purchase the drugs. Distribution of drugs were done within the jurisdiction of NYS. The gambling website, could have been anywhere. It's been stated that the fantasy football isn't gambling because there is "skill" involved with you selecting your players.

I don't recall Trump "starting" anything, although he certainly helped building the casino that carried his name.
 

Brownout

Joined Jan 10, 2012
2,390
"It's been stated that the fantasy football isn't gambling because there is "skill" involved"

That ranks right up there with "I buy Playboy for the articles"
 

JoeJester

Joined Apr 26, 2005
4,390
It might rank right up there ...

For the record, I have read the articles in playboy and also I have read the advertisements in "screw" magazine.

I've seen the sports betting in NYC marked as "For Amusement Only" when everyone knew the best amusement would be winning the big prize of picking all the teams playing that Sunday.

I'm not in any Fantasy sports leagues, so I don't know how they operate. Do I think there is some skill involved with putting together a winning team? Sure.

I certainly play games of "chance" by bringing whatever money I intend to lose to the casino in Oklahoma or Las Vegas. I usually play the slots.

I've also been in Calcutta's during pool tournaments as well as in the tournament.
 

wayneh

Joined Sep 9, 2010
16,400
"It's been stated that the fantasy football isn't gambling because there is "skill" involved"

That ranks right up there with "I buy Playboy for the articles"
I heard that just today. What a load! And what difference does it make? Playing cards or even video blackjack requires skill as well. Who would argue that playing poker is not gambling?
 

Thread Starter

GopherT

Joined Nov 23, 2012
8,012

wayneh

Joined Sep 9, 2010
16,400
It's the same as Uber muscling in on the taxicab business. The established industry is heavily regulated and at some equilibrium with the regulators. Along comes the internet doing an end around the regulators. The established industry, and to some degree the regulators as well, are angry about the disruption of the equilibrium.

It will take the wisdom of Solomon to sort this out. The people have an interest in safe cab rides and fraud-free gambling, so some regulation is required. But we the people also have an interest in cheap and easy access to things we want, and the old regulations were clearly in the way.

[update] I just heard a response from Fan Duel or the other one. They argue that the admission fee is not gambling. I buy that. I don't play so I had no idea how this works. But if you pay once to get in and then some people win based on the outcomes, I agree it's not gambling in the usual sense. It's no different than paying to run in a race: you pay to get in and only a few people win. Nobody considers that to be gambling. It is, but such things are typically allowed. Like buying a raffle ticket. Or a lottery ticket.
 
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nsaspook

Joined Aug 27, 2009
7,733
[update] I just heard a response from Fan Duel or the other one. They argue that the admission fee is not gambling. I buy that. I don't play so I had no idea how this works. But if you pay once to get in and then some people win based on the outcomes, I agree it's not gambling in the usual sense. It's no different than paying to run in a race: you pay to get in and only a few people win. Nobody considers that to be gambling. It is, but such things are typically allowed. Like buying a raffle ticket. Or a lottery ticket.
Interesting case law.
http://www.internetlibrary.com/pdf/Charles-Humphrey-Viacom-DNJ.pdf

Courts throughout the country, however, have long recognized that it would be “patently absurd” to hold that “the combination of an entry fee and a prize equals gambling,” because if that were the case, countless contests engaged in every day would be unlawful gambling, including “golf tournaments, bridge tournaments, local and state rodeos or fair contests, . . . literary or essay competitions, . . . livestock, poultry and produce exhibitions, track meets, spelling bees, beauty contests and the like,” and contest participants and sponsors could all be subject to criminal liability.
 
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