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New Jersey governor makes first legal sports bet after law goes into effect

“Gamblers flocked to Monmouth Park racetrack in New Jersey on Thursday morning to finally bet on sports legally” reports nypost.com. Phil Murphy — who signed the years-in-the-making legalization bill into law Monday — was the first to place a bet at the Oceanport track.New Jersey is the third state to have sports betting, outside of Nevada and Delaware.The decision overturned a 1992 federal law that blocked wagering in most states, saying the ban was unconstitutional. Source: nypost.com Share This:

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Bookmaker William Hill ‘inundated’ by U.S. sports teams seeking sponsorship: CEO

“(Reuters) – U.S. sports teams are clamoring for sponsorship deals with British bookmaker William Hill PLC as legal sports betting starts to take off in the United States, the chief executive of the company’s American division told Reuters on Wednesday” writes Midwest Communications Inc for 95kqds.com. On Thursday, New Jersey is set to finally see its first-ever legal sports bet, the result of its years-long court battle against professional sports leagues.Delaware, one of the few places to have already allowed limited sports wagers, rolled out full-scale sports betting last week.The…

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The Giants are betting big on an inside linebacker to fix their defense, for a change

“Because this Giants defense, in the midst of a required overhaul after a pitiful 3-13 season a year ago, needs a jolt” writes Jun Edt for sbnation.com. They need dominant linebacker play once again to do anything special with this defense. “I’ll put that on myself,” Olgetree said. “I’m not afraid of that.”.  Source: sbnation.com Share This:

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How NOT to bet during the World Cup, according to behavioral science

“The FIFA World Cup, which kicks off Thursday, is a busy time for betting markets” writes Jacob Passy for marketwatch.com. During the 2014 World Cup, betting analysts estimated that British gamblers wagered more than 1 billion pounds ($1.6 billion), setting a record for the biggest betting event in the country’s history.UBS predicts Germany will win World Cup Complicated bets are more likely to make bookmakers money.If the answer is yes, then you may be better off putting money down on your rival team. Source: marketwatch.com Share This:

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How sports leagues will try to get a cut of sports betting money

“But for in-game betting on specific events, the New York bill requires the books to buy the data from the leagues” writes Jun Edt for sbnation.com. Their argument is that the legalization of sports betting will carry increased monitoring costs for leagues to ensure the integrity of their games.In the Supreme Court decision that opened the door for states to legalize sports betting, the major American sports leagues were losers, literally.The leagues have fought for years to keep sports betting illegal, but they’re positioned to be among the biggest winners…

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Thai elephants kick off anti-gambling campaign ahead of World Cup

“Law enforcement agencies in Asia say they are gearing up to fight illegal gambling operators ahead of the World Cup” writes Midwest Communications Inc for 95kqds.com. Organizers said they wanted to show students the World Cup was more about enjoying the sport than betting on teams.In Bangkok, police said they have arrested 763 people in 681 cases of illegal soccer gambling since May 1.AYUTTHAYA/BANGKOK (Reuters) – Elephants kicked off World Cup fever in Thailand’s ancient capital of Ayutthaya on Tuesday, playing a soccer match to raise awareness against illegal gambling. Source:…

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Traders are betting AMD’s rally has gone too far, too fast

“Advanced Micro Devices has been on a tear this year, but options traders are betting the rally is about to cool off” writes Elijah Nouvelage for cnbc.com. However, “Options Action” trader Mike Khouw notes bearish activity in the options market could suggest the rally is coming to a halt.On Thursday there was a surge of options activity in AMD, with trading volume more than double the average daily amount.Among the activity, Khouw pointed out a block of traders who purchased the June 15 puts for an average of 35 cents…

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NJ racetracks warned not to take bets before governor OKs bill

“He has 45 days to sign or veto the bill, or it will automatically turn into law” reports nypost.com. Some fissures have emerged within the once-unified New Jersey sports betting movement.Monmouth Park’s Drazin told The Post Friday morning that he was unlikely to begin sports betting Friday. “I can’t answer that yet, but probably not,” Drazin said. “I’m waiting to have a discussion [with Zanzuccki] before I react.” Drazin was expecting the governor to immediately sign the bill into law and then get a temporary sports betting license from Zanzuccki’s…

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Futures Markets News 

Betting on Crisis, Hedge Funds Short Italian Bonds

“The popularity of the futures market in Italian bonds means it is simpler and cheaper than before to place speculative bets about coming price swings” reports nytimes.com. Nordvig said that a robust market for futures contracts tied to Italian government bonds had made it easy to bet against Italy.If Italy flouts European deficit restrictions, for example, investors and large banks likely would sell the government’s bonds, fearing deep losses.It became a self-fulfilling prophecy as pension funds, mutual funds and banks sold these suddenly risky securities.Many large investors, he said, now…

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New Jersey expected to OK sports betting law

“The bill would allow Atlantic City casinos and racetracks including Monmouth, the Meadowlands and Freehold Raceway to offer sports betting” writes The Associated Press for seattletimes.com. TRENTON, N.J. (AP) — New Jersey’s proposed sports betting law is heading down to the wire, with final legislative approval expected on Thursday.Three weeks ago, New Jersey prevailed in a Supreme Court case that struck down a federal law limiting sports betting to just four states.Internet betting would begin 30 days after the rest of the law takes effect. Source: seattletimes.com Share This:

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