This year, Super Bowl fans legally bet a record $98.9 million in Nevada... that's just a fraction of what was bet illegally.

In my syndicated column this week, I discuss the politicians' eagerness to have government force intrude on most every game... continue reading »

Super Bowl Sunday is the biggest gambling day of the year. Have you placed your bets? Be careful, even friendly bets between friends are illegal in about half the states... continue reading »

Today, Americans were told that they must close their Intrade.com accounts. That happened because the federal government agency known as the "Commodity Futures Trading Commission" (CFTC) today sued the prediction market, where people from all over the world bet about things like who will win elections.

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Yesterday ESPN announced they will remove all poker-related programming and advertising (except for this year’s World Series of Poker).

Wimps. And the gambling industry is no better. Industry lobbyist, former senator Al D’Amato, claims “ is a game of skill” and therefore should not be subjected to federal anti-gambling laws. “Regulate it, but don’t ban it,” he says... continue reading »

I’ve reported before on prediction markets – betting markets like Intrade.com where people bet on future events. Because bettors put their money where their mouths are, their predictions are very accurate. When researchers compare the track record of TV pundits versus professional pollsters versus the bettors on Intrade, Intrade's predictions have the best track record... continue reading »

Like many of you, I’ve made a friendly bet on the Super Bowl--100 bucks on Green Bay.    Yet sports betting is illegal in every state but Nevada and Montana (big restrictions in Montana).   I’m just betting with a friend, and fortunately, such social bets are legal in most states.  Most, but not all. Why the restrictions?  Since betters bet with other consenting adults, who do we hurt? If I win, I'll damage my friend's bank account.  So what?  Other than that, I'm not hurting anybody. But politicians think they know better than me... continue reading »

That’s what Bill O’Reilly wants to talk about tonight.  His producer e-mailed me these questions:

1.  Should it be legalized?

2.  Should there be more casinos?

3.  Is it a legit way for the government to raise more tax revenue?

Maybe Bill plans to ask President Obama about it when he interviews him at the Super bowl game. My answers:

1.  Yes... continue reading »

The Senate Majority Leader rarely proposes anything good, so I was surprised to read that he is circulating draft legislation to overturn the Unlawful Internet Gambling Enforcement Act of 2006, an act that basically drove the internet gambling business out of the United States. The ban is destructive, given that more Americans play poker than golf or tennis, more  than $100M spent every day on bets in legal casinos, and so a huge internet business has been driven u... continue reading »

The poorly conceived Unlawful Internet Gambling Enforcement Act (UIGEA) is almost upon us. Though parts of UIGEA have had a de facto implementation, it has repeatedly been postponed.  Now, it is scheduled to take effect June 1st. Suspense grows: 

Today online poker players have tens of billions of dollars in their online poker accounts. There are some half dozen offshore online gambling sites--the two biggest: PokerStars and Full Tilt Poker.  So far, U.S. officials have not gone after th... continue reading »