Before anyone gets any ideas, NO, I am not setting one up....yet....J/K.

But there is a lot media attention around here about the alleged gambling ring headed up by the NHL's Pheonix Coyotes assistant. Wayne Gretzky, who is their head coach and his wife Janet Jones are said to have known about it and placed bets as well as several other NHL players. But the betting according to the New Jersey police is not on hockey but rather on footbal and b-ball, so that takes away any chance of throwing games and such. What is illegal about gambling anyways? Is it all about the state not getting their share in taxes? Obviously I'm no expert on this, just wanna know why the media is making such a fuss over it.

 

sports betting is not illegal. The illegal part is taking the bet and not paying back 100 percent if the person wins. Like when i bet, if i bet 100 and i win the bookmaker gives me back 190 keeping 10 percent for himself as a book fee. That is what is illegal. If he game me back 200 on a one hundred dollar bet then there is no foul. That is how the bookmaker makes money. The other illegal part is if you do end up winning during the course of a year which most recreational betters dont anyway you must claim it on your taxes. 90 percent of betters lose on the year anyway so the tax charges wont stick for gretzkys wife. The bookmaker however did make a profit and didnt claim it on his taxes so thats tax evasion. Plus he did not pay back 100% of the bet so he is in deep .... He will go to jail. Thats how it works.

Vinny

 

Yup, if the house takes a cut - thats illegal.

 

Safely place all of your bets with me. I don't take a cut. But I do accept tips. I reserve and utilize the right to refuse service to anyone. So keep that in mind when I give you your winnings.

Besides I'd hate to break your freakin' fingers, and if it happens twice I'll ball peen your knee caps. But as long as you scratch my back, then I'll scratch yours and everybody is happy.