Gambling and Sports Betting News Wire - June 30, 2019
Here are today's headlines in the world of gambling and sports betting as they happen - Sunday June 30, 2019. (for the remainder of this month ONLY)
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Bitcoin Has Been on Fire but Altcoins Haven't Joined the Party – Yet
9:13 pm ET - Altcoins are still well off their 2017 highs, even with Bitcoin on fire of late. Some have gone to zero while others are trying to recoup their up to 70% in losses.
From CCN:
The theory goes that in a stable investment climate, not unlike stocks, investors will start allocating their resources into riskier assets. From low to high:
Cash > Bitcoin > Alts
Bitcoin and to a lesser extent Ethereum are gateways into the alt world. It’s quite possible that we’ve now reached that point. As bitcoin recovers and stabilizes, market participants may once again feel comfortable enough to roll the dice on the next big thing.
Nebraska Could Soon Have Casino Gambling
7:08 pm ET - Nebraska voters Opens a New Window. may decide next year whether to legalize casino gambling in a ballot measure that could tip the number of states that allow commercial gambling into the majority.
Supporters of legalized casinos have launched a petition drive to place the issue on the 2020 ballot with financial backing from the economic development corporation owned by the Winnebago Tribe of Nebraska.
Twenty-five states — including neighboring Colorado, Iowa, Kansas, Missouri, and South Dakota — allow commercial casino gambling with games such as slot machines, craps and roulette wheels, according to the National Conference of State Legislatures. Iowa casinos near Omaha, in particular, cater to Nebraska residents looking to gamble.
"Hundreds of millions of dollars go across the border every year," said Lance Morgan, the CEO of Ho-Chunk Inc., the corporation pushing the measure on the tribe's behalf. "For a Nebraskan to do gaming, you have to go half a mile. It's the height of paternalism to try to try to restrict it."
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Morgan said he's confident, based on the group's internal polling, that voters will approve the measure if it appears on the ballot.
Only two states, Hawaii and Utah, have a complete ban on gambling. Nebraska is among states that allow Native American tribal casinos that are limited to bingo and card games where the house has no stake in the outcome, such as poker. Nebraska also offers keno, horse racing and a lottery. Commercial casinos, by contrast, have slot machines, craps, roulette wheels and card games such as blackjack.
The measure is certain to face opposition from leading conservatives, including Republican Gov. Pete Ricketts and former University of Nebraska football coach and athletic director Tom Osborne.
"Casinos are bad for families and bad for business," said Nate Grasz, policy director for the Nebraska Family Alliance, a conservative policy group that plans to fight the measure. "All men and women deserve an opportunity to build the best lives for themselves, and state-sanctioned gambling robs them of that opportunity."
Gambling opponents successfully defeated ballot measures in 2004 and 2006, despite being outspent by wealthy casino interests. In 2014, they challenged a gambling measure in court and persuaded the Nebraska Supreme Court to declare it unconstitutional, striking it from the ballot.
But some gambling opponents acknowledge public support has grown in recent years.
"It's going to be hard," said Pat Loontjer, executive director of Gambling with the Good Life. "We've been doing this for 24 years, and, well, the atmosphere in the state has changed."
Supporters said they've changed the ballot measure to withstand a court challenge. The latest campaign will require three petitions — a constitutional amendment to allow casino gambling at state-licensed horse racing tracks and two state law changes to regulate and tax the industry. The state Supreme Court rejected a previous measure because it merged those issues onto one ballot, forcing voters to give one yes-or-no answer to multiple questions.
"We've learned from our mistakes in the past," said Bob Moser, president of the Nebraska Horsemen's Benevolent and Protective Association. "We have a really good plan and great partners, and we're very optimistic about our chances this time."
Moser said allowing casinos at state-licensed horse racing tracks would increase purse sizes and make horse races larger and more competitive, and thus revive the struggling industry.
A similar effort failed to gain enough signatures in 2016, but independent observers blame poor management, not a lack of support. The company that managed that petition drive claimed to have collected more than enough signatures, but nearly 42,000 were later declared invalid. The company now faces a lawsuit over the petition drive.
Honey Boo Boo Reportedly Blocks Mama June Shannon’s Access To Her Money Amid Drug Arrest, Gambling Tailspin
10:26 am ET - 13-year-old Honey Boo Boo (Alana Thompson) handlers have put precautions in place to make sure her mom, June Shannon, doesn’t drain her bank account. Funds were placed in an account Mama can't get her grimy hands on.
The move was spawned amid concerns over Mama June’s recent crack cocaine arrest and frequent trips to gamble at casinos with her troubled boyfriend, Eugene “Geno” Doak.
From TMZ.com: "We're told the family is deeply concerned Mama June might try to use her daughter's assets to fund her gambling and alleged drug habit ... so they want to make sure Honey Boo Boo's money is protected."
"Our sources say Honey Boo Boo's sister, 19-year-old Pumpkin (government name, Lauryn), will have access to the funds. However, she can only use the money for Alana's needs and benefit, and there are safeguards in place.
"Pumpkin, who is housing HBB and serving as a de facto guardian, needs to show proof and receipts of where the money goes when she accesses the account."
The family was featured on Here Comes Honey Boo Boo, an American reality television series that aired on TLC featuring the family of the child beauty pageant contestant. The show ended in 2014, after Thompson's mother was found to be in a relationship with a convicted sex offender. Thompson and her family originally rose to fame on TLC's reality series Toddlers & Tiaras.
Our Free Picks Record June 30
2019 MLB Record: 17-12-2 (58.6%) - 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%)
