Category Archives: Gambling

The Bank of England has revealed figures showing a post-pandemic spike in desperate first-time buyers in their 30s signing "ultra-long" mortgages that they will still be paying off in retirement. This has raised fears that many will be left with less to live on in their later years.

The data was revealed following a Freedom of Information request by LCP pension consultant Steve Webb, who said the ever-worsening housing market for younger home buyers is forcing them to "gamble" their retirement. Since 2021, there has been a 30 per cent increase in people signing onto these extra-long mortgage terms.

Overall, 42 per cent of mortgages signed in the last part of 2023 will continue to be paid off after the homeowner retires and quits the workforce, either forcing them to take money out of their pension to pay off the remainder or take a large hit to their living standards. This rise has been fastest among young first-time buyers, who might otherwise not meet the affordability criteria for a mortgage.

READ MORE: Date when DWP will send letter telling 1.7 million claimants payments will stop

Steve Webb said: The huge number of mortgages which run past state pension age is shocking. The challenge of getting on the housing ladder is forcing large numbers of young home buyers to gamble with their retirement prospects by taking on ultra-long mortgages.

"We already know that millions of people are not saving enough for their retirement and if some of that limited retirement saving has to be used to clear a mortgage balance at retirement they will be at even greater risk of poverty in old age. Serious questions need to be asked of mortgage lenders as to whether this lending is really in the borrowers best interests.

The long-term effects of this shift in the market could change how people behave in their pre-retirement years, with more workers trying to pay off their house before they retire, rather than adding to their pension pots. It could also result in people defaulting on their mortgages, as a bank cannot accurately assess what someone's pension income will be thirty years before they claim it.

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Huge increase in young people 'gambling' on mortgages that expire in retirement - Yahoo News UK

Finally, the location of my best bet isnt in Boston on Monday. However, it still involves a Boston-based team. For my best bet for Monday (May 13th): NBA Predictions, Ive got a player prop for Game 4 of the Boston Celtics vs the Cleveland Cavaliers series.

Regardless of the sports, the Sports Gambling Podcast Network has you covered. Weve got shows and winning picks for every sport under the sun. No one around is delivering free picks for the entire year and working with you to battle Corporate Gambling. Today and every day, we are delivering best bets, free picks, and stone-cold locks. Sean and Kramer also are ready to Let it Ride, check out their best bet video below.

CHECK OUT THE SPORTS GAMBLING PODCASTS DAILY BEST BETS

Start Time 7:05 pmEST

I dont know why the sportsbooks keep expecting Cleveland Cavalier guard Darius Garland to have big scoring games these playoffs hes shown no evidence that hes about to break out. So well keep taking advantage of it with our best bets.

Garland is set at 15.5 points for Mondays Game 4 against the Boston Celtics. Hes only averaging 14.7 ppg for the playoffs and had his best game in Game 3 when he shot 6-15 for 15 points. He hasnt scored higher than 15 in four straight games and has only topped it twice in 10 playoff games this season.

Best Bet: Darius Garland Under 15.5 Points (-118)

Overall Record: 44-25 (64%) Profit (based on $100/bet):$1,586.94 Return on Investment: 23%

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Best Bet For Monday (May 13th): NBA Predictions - SGPN

House Speaker Nathaniel Ledbetter (R-Rainsville) predicts an increase in illegal gambling after the Alabama Legislature failed to pass so-called comprehensive gaming legislation during this year's session.

Ledbetter, a supporter of the gambling package that included a constitutional amendment that came up one vote shy during a test vote in the Alabama Senate, appeared on Friday's broadcast of Alabama Public Television's "Capitol Journal" and was asked about the possibility of considering measures to crack down on illegal gaming.

The DeKalb County Republican acknowledged the possibility but said he expects more illegal gambling in the interim because of the legality questions and lack of enforcement.

"Would there be any consideration for, OK, before we go again on, you know, proliferating of gambling, right, deciding what kind of gambling we want or don't want, I would like beefing up those laws to give the attorney general and other prosecutors maybe more legal resources to crack down on.

"I certainly think that would be a possibility," Ledbetter replied. "I do think that, and I think it's probably something that should be done. But again, you know, you can beef it up as much as you want to. But you don't have the enforcement. It's not going to, anything's going to change. And probably after this, we're going to see probably an expansion of more illegal gambling. And the problem we had, you know, you get a lot of people that's making money off of it illegally, and some of it, I think, is organized crime. And you can tell just by how the facility's set up. They've showed me those pictures."

"So I think it's just giving them a runway, to be honest with you. And so I don't know if we upped it. I mean, who's going to enforce it? And you know, you say, well, the local "local people will. Well, a lot of them may have people that are involved or engaged, and not always, they think it's legal. I know the attorney general said everything's illegal. Well, I guess it depends on who you talk to. You know, there's different opinions of that."

Jeff Poor is the editor in chief of 1819 News and host of "The Jeff Poor Show," heard Monday-Friday, 9 a.m.-noon on Mobile's FM Talk 106.5. To connect or comment, email jeff.poor@1819News.com or follow him on Twitter @jeff_poor.

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Speaker Ledbetter: 'We're going to see probably an expansion of more - 1819 News

In the end, plain-spoken Larry Tillery made no bones about it.

Whatever the relative profits of Daylight Motors, the used-car lot he owned in Beaumont, Texas, it was nothing compared to the millions his illegal bookmaking operation had generated during the previous three decades. By June 2019 when he stipulated to his crimes in U.S. District Court in the Eastern District of Texas, he was more than ready to plead guilty to illegal gambling and tax violation charges.

At the height of his action, Tillerys clients numbered in the hundreds in a network that stretched throughout Texas and into Louisiana. From 2011 to 2016, his group accepted at least $52 million in sports bet wagers. He used the auto dealership and its Lamar Capital holding company as fronts to launder the books proceeds and disguise their illegal origin from federal authorities. Tillerys wife and son also acted on behalf of the bookmaking business and would pay their own price.

Although nearly forgotten in the frenzy of legal sports betting expansion across the nation, authorities in 2019 called the Tillery network one of the largest illegal gambling operations in the U.S.

I was reminded of Tillerys case this week. His name was floated through the chaotic and overheated social media feed associated with the ongoing federal investigation of the Wayne Nix illegal bookmaking operation that has exposed a poorly kept secret about the Las Vegas casino industry. Namely, that it doesnt much mind catering to illegal gamblers as long as everyone maintains a thin wall of plausible deniability. You know: Dont ask, dont tell.

The Nix investigation has netted a guilty plea from former MGM Grand President Scott Sibella for a single violation of the Bank Secrecy Act after he knowingly allowed the high-rolling illegal bookmaker to gamble at the casino several years ago. Sibella was sentenced Wednesday in a Los Angeles courtroom to a one-year probation and a $9,500 fine. In short, he failed to file a Suspicious Activity Report.

Nix, who is cooperating with authorities, has yet to be sentenced in a case being investigated by IRS Criminal Investigation and U.S. Homeland Security Investigations agents.

The Nix investigation has also resulted in MGM Grand and The Cosmopolitan paying a combined $7.45 million as part of a non-prosecution agreement in their settlement of a related Department of Justice money laundering probe.

On Wednesday, Sibella had plenty of moral support from family and friends, including Clark County Sheriff Kevin McMahill. After one of the shortest sentencing hearings at least one observer could recall, Sibella expressed his regrets in a statement.

It read in part, I was charged from the very beginning for not filing a SAR, accepted a plea, and have taken full and complete responsibility for what I did. I want to reiterate that by, anything alleged, I gained no benefit neither personal, professional or financial. He also made it clear through his attorneys that he never used a betting account or made illegal wagers.

Brought by the El Camino Real Task Force, and spearheaded by IRS Criminal Investigation and Homeland Security Investigations agents, the expanding investigation has been punctuated by a high-profile fraud and theft case. Ippei Mizuhara, former interpreter for Los Angeles Dodgers pitcher Shohei Ohtani, is accused of stealing $16 million from the professional baseball stars bank account to feed a voracious gambling habit, including paying millions to illegal bookmaker Matt Bowyer. Like Nix, Bowyer gambled high in Strip casinos, including Resorts World Las Vegas.

Sibellas defense team made a particular point Wednesday of noting that their client was in no way associated with the Mizuhara-Bowyer case.

Although Sibella is walking away, other arrests are anticipated. The Nevada Gaming Control Board has started its own investigation and continues to interview persons associated with at least three Strip properties.

In recent weeks, Ive been able to identify five gamblers and suspected illegal bookmakers who were sent packing from MGM and Cosmo properties in the wake of the Sibella investigation, and informed sources say Sibella wasnt the only company official who was aware of the players with shadowy backgrounds. To date, none of the suddenly suspicious players has been charged with a crime outside of the court of social media.

Defendants come and go, but the illegal bookmaking beat goes on and on. As long as there are willing customers, someone will step up to book their bets. And chances are good the investigative road will lead from the Caribbean and, at one point or another, make at least a cameo appearance in Las Vegas.

Larry Tillerys Texas operation directed customers to place their bets through a Costa Rica-registered website called luckyducksports.com, which now comes back to an apparel company. Like the Nix affair, the Tillery case was investigated by Homeland Security Investigations and IRS agents.

For years Costa Rica has been a popular official address for offshore illegal sports books. Its also where Nix directed his many monied customers to Sandislandsports.com. Those familiar with island sports books will recall that after being chased out of Los Angeles, legendary bookmaker Ron Sacco landed in the Dominican Republic and then hopped to Costa Rica. (For his part, the late casino Black Book member and bookmaker Frank Masterana was fond of Jamaica.)

Of course, illegal bookmakers make their living tanning in the Caribbean. They get rich collecting sports bettors of means or access to it.

Beyond the Costa Rican host, according to court documents Tillerys operation wasnt exactly state-of-the-art stuff. He settled up with luckducksports.coms agents via snail mail and electronic bank transfers. His wife, Judy Tillery, structured cash deposits in amounts less than $10,000 in an attempt to evade federal currency transaction reporting requirements at the direction of her husband. Son Brian Tillery was a pay-and-take agent for the family and monitored luckyducksports.coms site for gambling updates.

They lived a high-rolling lifestyle as long as it lasted with palatial homes and gambling forays to Las Vegas and Gulf Coast casinos. Federal agents had a field day clawing back millions in profits generated by the business. The Tillerys agreed to a money judgment of more than $32.7 million and a forfeiture of $1.7 million.

In the end, Larry Tillery lamented the turn of events in his life and blamed his gambling for his troubles. He was sentenced to 33 months in federal prison. He must feel like a sucker.

Nix has been cooperating and is unlikely to see the inside of a prison cell. Sibella plans to repair his career. Other illegal bookies associated with the investigation have scattered like quail.

And the beat goes on and on.

John L. Smith is an author and longtime columnist. He was born in Henderson and his familys Nevada roots go back to 1881. His stories have appeared in Time, Readers Digest, The Daily Beast, Reuters, Ruralite and Desert Companion, among others. He also offers weekly commentary on Nevada Public Radio station KNPR.

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OPINION: When it comes to illegal gamblers in casinos, dont ask, dont tell - The Nevada Independent

The 2024 legislative session saw a comprehensive gambling package fall short of passage when the Alabama Legislature adjourned sine die on Thursday despite a late push to pass something in the waning hours.

During Friday's broadcast of Huntsville WVNN's "The Dale Jackson Show," State Sen. Arthur Orr (R-Decatur) lamented that the ongoing battle to pass a gaming package made things "not very productive" in either chamber to pass other legislation.

"It was not very productive, in either chamber, and the cause of that was the gambling issue, and that's unfortunate because a lot of times a lot of good legislation does get passed on the last day. But because gaming was in the wind, it kind of sucked all the oxygen out, and the House held the education budget hostage while [they were] trying to give time for those trying to promote the issue in the Senate to get it done, and it just wasn't going to work."

"When you're talking about gaming, they'll pull out all of the stops, and that's just using political leverage trying to get what you want down the road," he added. "It didn't work, but it caused problems for other pieces of legislation when they resorted to those tactics."

To connect with the author of this story or to comment, email trent.baker@1819news.com.

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State Sen. Orr: Gambling push 'sucked all the oxygen out' of passing - 1819 News

Integrity is the word on the lips of every professional sports league commissioner as investigations into gambling unfold and punishments are handed down.

Players, coaches and other personnel associated with sport organizations are expected to uphold high standards of conduct and integrity to make professional sport worthy of the publics time and money.

CFL Commissioner Randy Ambrosie referenced integrity when he announced in late April that defensive lineman and three-time Grey Cup champion Shawn Lemon had been suspended indefinitely. Lemon was found to have engaged in sports wagering while he was a member of the Calgary Stampeders, even betting on a game in which he himself participated.

The integrity of our game is of the utmost importance, said Ambrosie. Any other factors career performance, actions in community, timing, frequency or size of wagers hold no weight when the legitimacy of the CFL can be called into question.

Ambrosie stressed the gravity of the matter, wanting fans to know his office was adequately addressing the issue. He also clarified that Lemons misdeeds didnt impact any game outcomes.

This incident is the latest in a string of gambling-related issues that professional sports leagues have faced recently. The rise of sports betting, fuelled by the proliferation of online platforms and the legalization of gambling in many jurisdictions, has brought new complexities to the world of sports.

Adam Silver, Commissioner of the NBA, faced a similar issue in April when the NBA started investigating Toronto Raptors forward Jontay Porter for allegedly betting on games.

The investigation concluded that Porter had indeed violated league rules and he was banned from the NBA. He allegedly disclosed confidential information about his health to an NBA bettor before a March 20 game against the Sacramento Kings.

In addition, during his time with the Raptors G League from January to March, Porter placed at least 13 bets on NBA games totalling US$54,094. None of the bets were on games in which he played and he ended up making a profit of $21,965 from all the wagers.

In a statement, Silver said:

There is nothing more important than protecting the integrity of NBA competition for our fans, our teams and everyone associated with our sport, which is why Jontay Porters blatant violations of our gaming rules are being met with the most severe punishment.

Porters penalty was the first lifetime ban issued by the NBA since 1954 when Jack Molinas was permanently bounced for wagering on games that involved his team, the Fort Wayne Pistons.

Silvers stiff brand of justice was a public message: the NBA was prepared to protect the integrity of its game because the fans need to be able to trust the product.

The role of the MLBs commissioner was created in 1920 for just that reason: to restore public faith in professional baseball after eight members of the Chicago White Sox were indicted on criminal charges that alleged they fixed the 1919 World Series.

They were found not guilty amid several irregularities, including vanishing evidence in the form of self-incriminating statements. Justice wasnt served and everyone knew it.

Kenesaw Mountain Landis was installed as MLBs first commissioner. A former judge, he provided the penalty when the courts didnt lifetime bans for all eight implicated players. The public seemed satisfied that the cheats got their just deserts and faith was restored.

Almost a century later, Landis approach one rooted in a deterrence theory of punishment remains the standard for those that bet on games in which theyre involved.

Present-day league commissioners have learned from Landis how to handle gambling infractions, but missed his lesson on how to avoid them. Landis demanded that club owners rid their respective ballparks of any trace of gambling by being vigilant and stomping it out. Landis applied the wisdom: an ounce of prevention is worth a pound of cure.

But this is not the state of modern sport. Commissioners and the owners they serve fully embrace the proliferation of legalized sport gambling. Thats where the money is. Leagues and teams have partnered with wagering sites to pad their wallets.

In 2021, the Ottawa Senators were the first to wear a gambling advertisement with a BET99 helmet sticker, making players skating billboards for sport betting.

The irony was lost on no one when Ottawa Senators forward Shane Pinto was the first modern NHLer suspended for a gambling infraction in 2023.

Gone are the days when Willie Mays and Mickey Mantle were banned from MLB because they accepted jobs as Atlantic City casino greeters in their retirement.

Players, current and former, have cozied up to gambling interests in league-allowed ways, advertising their product on television for all children included to see. It resembles the star-studded cast of athletes that pushed Chesterfield cigarettes decades ago, which used sports stars to appeal to young boys.

Anti-gambling advocates are pleading for the sports industry to re-think its approach to betting, but the practice has only become more pervasive and accessible.

The impact has been disastrous. Kids as young as eight-years-old are hooked and its only going to get worse.

In the end, sports leagues will protect the integrity of the game: theres money in preserving the trust and loyalty of their audiences. But will these same leagues demonstrate the integrity necessary to reverse course and protect vulnerable members of society from developing a gambling addiction? Theres no money in that, so dont bet on it.

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Professional sport commissioners are fighting to preserve league integrity amid gambling scandals - The Conversation

Amongst NFL Owners, Dan Rooney was a giant. Art Rooney II probably took more after his grandfather. Art Rooney Sr. never had a successful team until the 1970s; however, he was a beloved City and NFL owner. It was Dan Rooney who built the team by hiring Chuck Noll. Art Rooney II arguably is no Dan Rooney. Since Art Rooney II took control of the team, he hardly seemed at the forefront of running the team. He stayed in the shadow of Mike Tomlin and Kevin Colbert.

That's no longer the case. Though it's been a while since assuming ownership, he seemed to have gotten fed up with the Steelers' lack of post-season success. So, he felt he needed to shake up the status quo, considering the Steelers valued tradition and have done things year in and year out in the same manner. Patrick Peterson and Darnell Washington found that out the hard way in their original jersey number requests.

Peterson wanted his number seven, and the Steelers said that that number was no longer in circulation. Darnell Washington wanted his college number 0. Steelers management responded by saying no, you get traditional jersey numbering like everyone before you. The Steelers always found free agents on the cheap, which worked because the Steelers still made the post-season regularly. They didn't fire assistant coaches mid-season, either.

Mr. Rooney's impatience with the team's lack of playoff success has led to a clear mandate for the Steelers. This season, it's no longer business as usual. Under Omar Khan's guidance, the team has shown dedication to fulfilling the owner's vision of a Steelers team back in the habit of winning in the playoffs. This renewed focus on success should inspire hope and optimism among Steelers fans.

Mr. Rooney's apparent need to break some ties with past traditions began late in 2023 when the Steelers suffered a humiliating loss to a rookie backup quarterback leading the Cleveland Browns. While theSteelersoffense remained stagnant the entire game, Enough was enough. Previously, firing an offensive coordinator mid-season seemed sacrilegious. Not anymore. The Steelers promptly fired Matt Canada the next day.

Mike Tomlin said he decided to do the deed, And Art Rooney II said it was his decision. As admirable as it is with the head coach and owner working in unison, Mr. Rooney has had a firm hand in showing Matt Canada the exit. Then came his statements at the end of the season when he said the Steelers needed to find new success in the post-season.Omar Khan has taken this mandate personally and is determined to fulfill Mr. Rooney's request in a way that upended Steelers normalcy.

Only Omar Khan could find a way to add players to the Steelers roster in the typical miserly Steelers fashion, being Russell Wilson and Justin Fields, while still giving Linebacker Patrick Queen a large contract that normally the Steelers do not do in free agency. Then, with his signing, even more tradition went out signing. Patrick Queen requested number 6. It's not a typical Steelers linebacker number they give out. The Steelers agreed all the same. Whereas Darnell Washington didn't get his way, Patrick Queen did, so much for business as usual.

Then Omar Khan wasted no time sending Kenney Pickett packing after only two seasons. Granted, he didn't sound like a team sport in the end, but it was a statement that the Steelers will follow through, implement Mr. Rooney's mandate, and do everything necessary to win in the playoffs.

If these changes work, then he comes out the winner in that he made the Steelers' General Manager and head coach make the tough decisions needed to transform the team. If they fail, then some may question whether Mr. Rooney decided to take things a little too far to try to win another championship. Yet fans do need to feel excited about the direction things are headed.

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Art Rooney II gambling his reputation that change will result in Steelers success - Still Curtain

Some people like to sweat out a bet for 9 hard innings others like immediate satisfaction. Count us as being in the latter, which is why we like to get down with MLB NRFI and YRFI picks. And weve decided to pass that knowledge on to you with our NRFI bets for May 13. Go here for MLB World Series odds.

Of course, there are plenty out there taking blind guesses at this stuff. Its easy to pick the best hitting team or look at what happened in the last game. However, we spent the time pouring through the analytics to make sure that we give you the best odds to stay in the green on these NRFI and YRFI props for May 13. Come check out what we have cooked up for this slate of games.

CHECK OUT THE SPORTS GAMBLING PODCASTS DAILY BEST BETS

First Pitch 7:20 pm EST Truist Park Atlanta, Georgia Broadcast MLB TV

The Braves are one of the very best teams in the league in scoring runs (currently 5th with over 5 runs per game). However, most of that is coming late in the game. In fact, they have more runs in the 8th inning or later than any team in the majors leaving them just middle of the pack when it comes to first inning scoring. Shota Imanagas 1.08 ERA likely isnt going to help matters on Monday, either.

On the other side of things, the Cubs have also been a top-10 team in terms of run-scoring. Unlike the Braves, they have also been fantastic in the first inning. So why is it that Im riding with the NRFI in this one? The answer is simple: Reynaldo Lopez. Just once this year has he allowed more than one earned run in a game. That game was a three-run outing against the Mariners that jumped his ERA all the way up to 1.53.

NRFI/YRFI Bet for May 13: No (-130)

First Pitch 9:45 pm EST Oracle Park San Francisco, California Broadcast MLB TV

The Giants have been one of the very worst teams in the league at scoring in the first inning. Theyre averaging just 0.37 runs per game in the first, which puts them in 25th place in the league. Theyll also be down a couple of outfielders starting tomorrow. Jung Hoo Lee dislocated his shoulder and Michael Conforto is headed to the IL as well. Those things should make it easier for Yoshinobu Yamamoto to get that NRFI for us.

The Dodgers are much better offensively in fact, they are the best team in the majors at scoring runs. However, Jordan Hicks has been lights out. Hes riding a 2.30 ERA and has only allowed a home run once this year, and that was to notorious free-swinger Joey Gallo. I like his chances to keep the Dodgers at bay while picking up a few early strikeouts.

NRFI/YRFI Bet for May 13: No (TBD)

If youd like even more info to help make your NRFI picks for May 13, check out the MLB Gambling Podcast. Theyre dropping episodes five days a week to make you the smartest guy/gal at the bar with their MLB picks today.

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MLB NRFI and YRFI Picks - May 13 - SGPN

By WVUA 23 News Reporter Zoe Blair

Alabamas 2024 legislative session adjourned Thursday with one major thread left hanging: A comprehensive gambling bill once again falling shy of Gov. Kay Iveys desk.

Odds of Ivey calling for a special session on the matter are next to zero, which means getting a lottery, sports betting or gambling of any kind in the state wont be on the docket again until 2025 at the earliest. And thats only if a bill makes it onto said docket.

The state has been back and forth over lottery legislation for decades, with the closest-ever effort shut down by voters in 1999.

Then-Gov. Don Siegelman ran for office in 1998 on a platform touting a lottery. His goal at the time? A mirror of the system successfully enacted in Georgia in 1993. That states system was all-in on education funding, with 100% of lottery proceeds going toward free pre-kindergarten education and college scholarships for Georgia students.

The proposal that I made was a copycat of the Georgia Lottery that did not have anything to do with schools or sports betting, Siegelman said. It was strictly a lottery that would establish free early learning preschool for children so they could gain the intellectual ability to succeed in grades K through 12 and then to provide free technology, laptops for kids and free college education.

Alabamas House Bill 151, which stalled at 20 out of 21 votes in the Senate after passing the House, allowed for more than a lottery and would have sent revenue into areas outside education. Siegelman said that was his primary problem with the bill.

Some Tuscaloosans said they agree with Siegelman on where the money should be going, but they also have other ideas for the millions of dollars gaming legislation could bring.

I think that more money for education would have been great, but it could also help with housing, Tuscaloosa native Damien Chandler said. Just because we have a lot of homeless here too. A lot of people stay on the street, and that lottery money could help find them housing to stay in.

Other residents said the money would be useful if it went toward infrastructure and reproductive rights in addition to education.

According to recent numbers from the U.S. Bureau of Labor Statistics, Alabama ranks among the lowest states in the nation for labor participation. That means fewer Alabamians who are able to join the workforce are doing so.

Siegelman said many of those residents opting out of the workforce arent doing it by choice because many parents who cant afford day care have no choice but to stay home with their children thanks to the high costs.

If the legislature were to pass this, the money should be focused on providing every child the opportunity to reach their God-given potential through education, Siegelman said. That means free early learning and free preschool so parents can drop their kids off in the morning and pick them up in the afternoon knowing that theyre going to be better educated and better able to succeed in grades K through 12.

Tuscaloosa resident Damien Chandler said the lack of child care is something a lottery could help solve.

I think that would be fantastic if we had it, Chandler said. I have a lot of family and friends that have young kids, and they do struggle with having a place for their kids to go while they work. Sometimes they cant work because they have to watch their kids.

Siegelman said he believes the money should also benefit students later in their academic careers. The Georgia Lottery funds free higher education for anyone who maintains a B average throughout high school, including students attending community college or trade schools. Thats what Siegelman said hed like to see in Alabama, too.

Where the money goes isnt Siegelmans only issue with the bill, he said. He also raised concerns about casino locations, gambling commissioner appointments, casino licensing and how the legislature votes on each form of gambling.

He said potential casino locations should be decided by free market economics, not politics. HB-151 contains seven predetermined locations for casinos based on existing dog racing properties throughout the state, including Greene Countys facility formerly called GreeneTrack.

It makes no sense, Siegelman said. If youre going to open the state up to casinos, then let the casino owners, the people who buy the licenses, work with elected officials in the district into which they wish to locate. For example, in Mobile, rather than locating on McDonald Road in Theodore, they might want to locate on the causeway between Mobile and Baldwin County. Instead of locating in Greene County next to the Mississippi line, they may want to locate on the Alabama River in Montgomery or Selma. They should be able to decide that.

He also said the gaming commission and board of directors for the lottery should each be free from politics. Business-minded people should be on the board, he said, not current or former elected officials.

His final major concern with may bills that have come up on gambling is that theyre too broad, meaning they cover not only a lottery but casinos, bingo, sports betting and table games. It would be easier to pass bills focused on each form of gambling separately.

Siegelman said he sent a letter to the House Tourism Committee ahead of the 2024 Alabama legislative session outlining his concerns with the bill.

Ultimately, he said he hopes the legislature can bring a bill to the floor that will benefit Alabama where its needed most.

My focus is really trying to take care of the kids and parents, working families, Siegelman said. I think if the legislature will focus on what working families are asking for, then they will come to the same conclusion, and that is that we need to provide the money to establish a free, early learning preschool for all children.

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As gambling stalemate continues, former governor has suggestions on how it can succeed next year - wvua23.com

WASHINGTON, D.C. Cantrell Dumas, Director of Derivatives Policy, issued the following statement in connection with the Commodities Futures Trading Commissions (CFTC) open meeting to consider a proposed rule regarding event contracts.

We applaud the CFTC for taking steps today to clarify and strengthen the rules governing event contracts and specifically election gambling contracts. Gambling on elections is unacceptable for many reasons, including that it will likely incentivize election interference, further erode Americans trust in elections, and threatens investors with an inevitable onslaught of predatory platforms designed to lure them into a manipulated market. Worse, the CFTC already has a vital public mission that is important to all Americans. It simply does not have the budget or expertise to be regulating and policing elections, which should be done by others like the Federal Election Commission (FEC) and the states. Finally, such contracts are clearly against the public interest and a new rule to address this is appropriate.

We will review the proposal in detail to make sure that it adequately deals with these issues and threats. If sufficiently strong and clear, todays proposed rulemaking will not only safeguard the core values of our democracy but also act as a barrier against the gamification of our democratic outcomes, ensuring that speculative betting doesnt tarnish the integrity of our electoral processes or the CFTC. The CFTC was right to reject Kalshis proposal to allow wagering on the partisan control of Congress, and if adopted, this rule will help clarify the law and reiterate that they are impermissible. By taking this stand, the CFTC reaffirms that derivatives markets should fulfill their intended rolesupporting economic activities and providing risk management solutions related to those activitiesnot serving as platforms for excessive speculative gambling on political outcomes.

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with alliesincluding many in financeto promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans jobs, savings, retirements and more. To learn more, visit http://www.bettermarkets.org.

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Better Markets Applauds CFTC's Proposed Ban on Election Gambling To Prevent Election Interference and Protect ... - Better Markets