Attorney Greg Gemignani Quoted in NJ Gambling Sites Article on "MLB, NBA Not Winning Fans with Demand for 1 Percent of Wagers in Sports Bets"
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Gaming Attorney Greg Gemignani was recently quoted in the njgamblingsites.com article, “MLB, NBA Not Winning Fans With Demand for 1 Percent Of Wagers In Sports Bets.”
The article discusses the recent announcement by the NBA and MLB that they would be willing to lobby for sports betting if, among other conditions, they received 1 percent of sports bets placed in New York. According to Mr. Gemignani, that number is more severe than it might seem. “If you’re paying one percent of handle that far exceeds what the books actually earned off the Super Bowl. I think there’s a role for major league sports to participate, but I think taking a percent of handle is huge.”
The article references the anticipated Supreme Court ruling on Christie vs. NCAA, New Jersey’s appeal challenging the constitutionality of PASPA, as motive for the leagues’ proposed terms. Mr. Gemignani believes the PASPA case is less about sports betting and more about sovereignty. “I don’t think they took this because of sports betting. I think they took it to provide an analysis of the intersection of boundaries between state and federal power,” he said, adding “I honestly don’t think they think too much about sports betting. It’s really [a] constitutional thing for them.” To read the full article, please click here.
The article discusses the recent announcement by the NBA and MLB that they would be willing to lobby for sports betting if, among other conditions, they received 1 percent of sports bets placed in New York. According to Mr. Gemignani, that number is more severe than it might seem. “If you’re paying one percent of handle that far exceeds what the books actually earned off the Super Bowl. I think there’s a role for major league sports to participate, but I think taking a percent of handle is huge.”
The article references the anticipated Supreme Court ruling on Christie vs. NCAA, New Jersey’s appeal challenging the constitutionality of PASPA, as motive for the leagues’ proposed terms. Mr. Gemignani believes the PASPA case is less about sports betting and more about sovereignty. “I don’t think they took this because of sports betting. I think they took it to provide an analysis of the intersection of boundaries between state and federal power,” he said, adding “I honestly don’t think they think too much about sports betting. It’s really [a] constitutional thing for them.” To read the full article, please click here.
