Gambling and Sports Betting News Wire - June 18 2019
Here are today's headlines in the world of gambling and sports betting as they happen - Tuesday June 18, 2019.
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Deadline to Get Mobile Sports Betting Done in NY Just Hours Away
10:33 pm ET - The State Senate approved online sports betting late Monday, 57-5. But the Democratic-led Assembly still had no plans as of late Tuesday to even discuss the issue internally, officials told NewsDay.
The bill co-sponsor, Assembly sponsor Gary Pretlow (D-Mount Vernon), confirmed with the New York Post that Assembly Speaker Carl Heastie has no intention of bringing the mobile sports betting bill to a vote.
The State Senate approved online sports betting late Monday, 57-5. But the Democratic-led Assembly still had no plans as of late Tuesday to even discuss the issue internally, officials said.
Staff attorneys have questioned whether lawmakers could legalize sports betting expansion such as mobile and online via one’s laptop without amending the state constitution. And New York Governor Andrew Cuomo has echoed the same sentiments.
“I’ve been trying to convince them that is totally untrue,” Pretlow said of Heastie and Cuomo.
The bill still needs to clear two key committees before the entire Assembly could vote on it, and the chances of this happening by the June 19 deadline are close to zero.
Trump Live Tweeting During Dem Debates Opens Huge Opportunity for Books
5:40 pm ET - As one might expect, the offshore gambling sites will always be looking for a competitive edge against its newly minted rivals stateside.
One way will be a wealth of political props leading up to the 2020 US Presidential elections.
Political odds among the New Jersey-licensed sportsbooks are so far a no-go. At least FanDuel is yet to post any.
The offshore books plan to offer, not only odds on who will become next US President, but wagering on each and every debate ahead of the Democratic nominee.
And when you have someone like the current occupant of the White House, President Donald Trump, live tweeting during these debates....there can never be too much to bet on.
President Trump's political advisers wanted to keep the president off of Twitter during the Democratic debates next week, arguing that there was an advantage in letting potential challengers attack one another without distraction.
There will be a snowball's chance in Hell of Trump staying off Twitter during these Debates. You don't have to be an oddsmaker to post those odds (say a 1 million to 1 chance of him not tweeting).
So now there’s a new strategy, according to the Wall Street Journal.
The president, who has spent years embracing social media for his political advantage, is tentatively planning to live-tweet the debates on June 26-27, according to people familiar with the planning.
Anticipated odds on Trump tweeting, impeachment mention during the Debates, how often Trump applies nicknames to certain candidates, are expected at BetOnline (and certainly being pushed by Gambling911.com).
The Mooch Would Pay $1200
11:17 am ET - SportsBetting.ag has made Stephanie Grisham the favorite to become the next Press Secretary of the United States. But don't count Anthony Scaramucci out just yet. He lasted about one week before getting the booth with Sarah Sanders soon replacing the colorful figure. He'll pay out $1200 should he be named the new Press Secretary.
Steve Cortes and Tony Savegh also have less than 5/1 odds while Chris Christie and Anthony Scaramucci are the "longshots" of the group.
Next White House Press Secretary Odds
Stephanie Grisham 7/4
Steve Cortes 4/1
Tony Sayegh 9/2
Hogan Gidley 5/1
Chris Christie 7/1
Anthony Scaramucci 12/1
SportsBetting.ag released the odds the day US President Donald Trump officially launched his re-election campaign with a stop in Orlando.
Bitcoin Price Trades Flat With Libra Intro
10:31 am ET - Bitcoin (BTC) struggled to gather upside traction following Facebook’s official announcement of its Libra cryptocurrency project.
Facebook’s foray into cryptocurrency is widely being referred to by some experts as the most bullish external tailwind for bitcoin in 2019/2020.
Even so, bitcoin’s price is struggling to gain altitude, having added meager $80 following Facebook’s white paper launch. Read More From CoinDesk
Behind Libra: Facebook's New Digital Currency
10:15 am ET - NEW YORK (AP) — Facebook is unveiling a digital currency called Libra as the company seeks to make its ads more valuable by enabling smoother transactions and payments online, particularly among those without credit cards or bank accounts.
Libra will use the same security and record-keeping principles as Bitcoin, the most popular digital currency system today. But unlike Bitcoin, Libra is backed by several traditional financial companies, including PayPal, Visa and Mastercard, and will base its value on multiple real-world currencies such as the U.S. dollar and the euro. Libra also faces additional scrutiny over privacy, given Facebook's poor record on the matter.
Here's a look at Libra and other cryptocurrencies.
WHAT'S A CRYPTOCURRENCY ANYWAY?
It's a form of digital cash that uses encryption technology to make it secure. Cryptocurrencies exist not as physical bills or coins but rather as lines of digitally signed computer code. Records are typically kept on ledgers known as blockchain.
People can store their cryptocurrency stashes in virtual wallets that resemble online bank accounts. Facebook is developing a wallet app for Libra. As with other cryptocurrencies, people will be able to buy and sell libras on exchanges for traditional currencies. It's not clear what fees, if any, consumers will have to pay for such transfers, although Facebook says they should be low.
WHY NOT USE BITCOIN?
Although Bitcoin has gotten a lot of attention, it isn't widely used. For one thing, its value fluctuates wildly, meaning that $100 in bitcoins today might be worth $300 a month from now — or $2.50. Only a handful of merchants accept bitcoins as payments.
Facebook is hoping to keep the libra's value stable by tying it closely to established currencies. Unlike most other cryptocurrencies, the Libra will be backed by real-world bank deposits and government securities in a number of leading currencies.
Facebook is also recruiting partners ahead of time. Lyft, Uber and Spotify already have joined the Libra group. They will likely accept libras when the system launches. They'll also help fund, build and govern the system. That'll make Libra less of a free-for-all than Bitcoin. Facebook says Libra will embrace regulation, but it isn't providing many details on how.
With most cryptocurrencies, including Bitcoin, anyone can lend computing power to verify transactions and to prevent anyone spending the same digital coin twice. With Libra, the verifications will initially be managed by its founding companies, such as Facebook and PayPal. Facebook believes the closed approach will mean better security.
ARE CRYPTOCURRENCIES ANONYMOUS?
Although it's possible to trace bitcoins and some other cryptocurrencies as they are spent, owners of accounts behind the transactions aren't necessarily known. That makes such currencies a favorite among certain cybercriminals. But it is sometimes possible to tie cryptocurrency transactions to a real person who has cashed out digital coinage into a traditional currency.
And if someone spends libras while logged onto Facebook, it's theoretically possible Facebook could tie it back to a real person. Facebook says it won't be able to see this data when someone uses a third-party wallet, although it hasn't yet explained why that is.
Facebook says it won't use Libra data to target ads, but may share data "to keep people safe, comply with the law, and provide basic functionality." Facebook is creating a subsidiary, Calibra, to try to keep the operations separate.
GETTING STARTED
Libra is scheduled to launch publicly in the first half of next year. Whether consumers will embrace it is another matter. Discounts potentially offered by Uber and other partners might be enough to get people to at least try the system. But many people find it easy enough to pay for goods and services online with credit and debit cards.
There could be greater appeal among people who don't have bank accounts. Libra could open up e-commerce to them.
Though Libra could be a way for Facebook to drive spending when people interact with Facebook ads, the company says the currency will be independent and won't require a Facebook account to use.
Our Free Picks Record June 18
2019 MLB Record: 17-11-2 (60.1%) - No Plays Over -160
2018-19 College Basketball Record: 12-9 (57.1%)
2018-19 NBA Record: 7-5 (58%)
2018 MLB Record: 45-35 (56.2%)
2018 NBA Record: 12-4-1 (75%)
