Trends, News & Interesting Reads

The NFL, NHL, and NBA have already begun to create partnerships with betting operators with the signing of additional such partnerships expected in the near future. The leagues, which originally opposed the idea of sports betting, are coming around and are taking the point of view that, if online casino sports betting is going to take place, the leagues, teams, and players might as well get their share of the action.

While we continue to enjoy our Grande Vegas online casino from wherever and whenever, there are some interesting goings on in the state of Nebraska.  The Ponca Tribe of Nebraska opened the new Prairie Flower Casino in Carter Lake Iowa this winter. Before the fight with city and state governments is over the tribe’s right to operate that casino, and any other new casino venue might well end up in Federal Court. 

Former Interior Secretary Ryan Zinke’s decision to deny two Indian tribes authorization to open either a commercial casino or an online casino in Connecticut has led to a federal investigation based on allegations that Zinke lied to the investigators over whether he favored the tribes’ competitor, MGM Resorts. Prosecutors have begun to present evidence to a Washington grand jury which is probing the matter.  

The Innovation Group’s Michael Vanaskie recently wrote an article in which he examined how the Vegas casino cluster effect can spur tourism and online casino gaming revenue. He noted that this is the case in locales such as Manila and Macau and considered how other jurisdictions could emulate that success.

Legalized online casino sports gambling will change how fans experience live sports.  That’s the opinion of almost everyone involved in the sports world today though no one is yet sure how that might happen. Players, league owners, and others think that, in a short period of time, sports aficionados will start viewing sports betting as just one more type of casino-style gambling.

The Nevada Gaming Commission slapped Wynn Resorts with a $20 million fine for their failure to investigate claims that founder, former board chairman, and former CEO Steve Wynn had sexually harassed at least eight women. The eight women were employees of Wynn Resorts and said that they were harassed during work time in their workspace.

The race to get in on Japan’s new casino industry is heating up as operators from around the world woo local officials and government lawmakers in their bids to get a  piece of the pie.  Many observers question whether these outsiders fully understand the Japanese infrastructure which they should know in order to do business properly in the country.

Between 1992 and 2018, sports betting in the Vegas casino and other United States gambling venues was virtually outlawed based on the Professional and Amateur Sports Protection Act. The law, passed by Congress, eliminated states’ rights to allow sports betting, except for states (such as Nevada) where sports betting had been in operation before the law took effect.

Americans can expect that their 2018 taxes will see itemized deductions eliminated or scaled back. Deductions for miscellaneous expenses, subject to the floor of 2% of AGI (Adjusted Gross Income) is included in this assessment. If you play at the online casino or at any other Vegas casino venue you can continue to deduct your gambling losses up to the amount of winnings.

Some sports fans assume that the laws for sports betting are the same laws that apply to daily fantasy sports but that’s not accurate. Many states have specific laws that relate to DFS. The laws vary widely from one state to the next, with some encouraging DFS and others prohibiting it completely.  So when you're ready to take a break from your slots spinning at Grande Vegas Casino, check it out.