The reason I ask this question is because I recently came across a myspace.com profile (/allsportsmarket) that exlplains how a start-up company from Costa Rica is currently lobbying their novel sports derivative exchange to US congressmen and senior finanical officials in Virgina. By creating a legalize regulated non-gambling method of tying team performance to financial incentives, and then subsequently taxing the transactions; wouldn't any government be in favor of recoveing millions of follars that go offshore every year to sports wagering outfits?
2006-09-15 05:52:38 · 0 answers · asked by peebs91 2 in Business & Finance ➔ Investing
How so?
People like the quick fix that gambling brings them, and people will always be looking for ways to gamble. Fortunately, for those who do sports gambling, there are now hundreds of legitimate choices (i.e. The CEO and CFO are honest) for the internet sports gambler to take advantage of without flying to Harrah's in Vegas everytime.
I don't see how any NON-GAMBLING vehicle that ties team performance to financial incentives is going to interest the consumer.
In Canada, they have a sports lottery, however because it forces the player to do a two game (spread games) or a three game parlay (all other events).
Due to the addictive nature of gambling, it was brought up long ago that Sportsbooks in Vegas should be required to take down the SSN of all winners prior to giving them their winnings, and submitting this information to the US government. The addictive nature ensures that there will always be sports gamblers (the Horse Racing industry is having a resurgence due to online betting (both offtrack and at home)) and the US government CAN cash in on it if they so choose.
2006-09-19 05:14:34 · answer #1 · answered by cyrenaica 6 · 0⤊ 0⤋