The future of sports betting in Wyoming: Part 1 – KGWN

Cheyenne, Wyo.- May 14th, 2018: A day that changed the world of sports.

Thats because the United States Supreme Court decided to legalize sports gambling across the county.

Wyoming House of Representatives speaker, Steve Harshman, said May 15th was an interesting day.

“After the Supreme Court legalized it across the country, our email blew up that next day but its a bigger issue here in Wyoming,” said Harshman.

The state of Wyoming does allow many forms of legalized gambling including the lottery, pull tabs, bingo, horse racing and historic horse racing plus gambling that is done on the reservation.

“Well its not a new issue we’ve been looking at,” said Harshman. “We have a subcommittee of our appropriations that whether Wyoming should have a gaming commission not so much for the regulations but to make sure the rules of the road are the same for one charitable group in the state to the other and to make sure everything is the way it should be on those kinda things.”

Wyoming Horse Racing LLC handles the bets of historic and horse racing across the cowboy state. President Eugene Joyce thinks there is a possibility for his operation to expand.

“We are trying to figure out the best possible way to do this and we certainly have the infrastructure to do it with our OTBS,” said Joyce.

“It’s natural we have satellite dishes and TV’s all over the place so you could watch what they are wagering on. We also have the betting terminals, and have the betting terminals to take wagers on if its something that the state wants to do.”

According to Joyce, Wyoming Horse Racing LLC has pumped five million dollars a year into the cities they operate in and horse racing is not the only sports venture to get involved in gambling, as the NBA and NHL have signed deals to help with MGM casinos.

“The moment the Supreme Court ruled that sports betting was going to be legal, subject to state regulation, we decided that we need to evolve with the times and we needed to get in front of this and be proactive in terms of developing important partnerships like this one,” said Gary Bettman, the Commissioner of the NHL.

6 bets that would have made you filthy rich in 2018 – For The Win

There’s no better time than the end of 2018 to look back on the year and realize how much money you could have won betting on some longshots that paid out.

1. The underdog Eagles pay off

Let’s go all the way back to September of 2017. According to NBC, the Super Bowl odds on the Iggles were 50/1 earlier in the year. Eventually, you know what happened in 2018: Philly won the Super Bowl, paying a whopping $5,000 on a hypothetical $100 bet.

2. UMBC completes the upset of a lifetime

It finally happened. A No. 16 seed beat a No. 1 in an NCAA tournament and it seriously paid off for gamblers. The best example? A $800 money line bet resulted in a $16,800 win:

3. Parlays pay, Part I

The Golden State Warriors’ Jonas Jerebko hit a buzzer beater in October to help a bettor turn $2 into $1,237.70:

4. Parlays pay, Part II

This is why lots of people attempt humongous parlays like this 12-leg NFL bet with over/unders and lines. It paid over $12,000 on just $5.

5. The bet of a lifetime

How do you win $1.2 million betting at the Kentucky Derby? Besides dropping a boatload of cash hoping to hit the superfecta, you could do what a Texas woman did in May. Per ABC News, she bet $18 and turned it into over a mil:

Not only did she pick Justify to win the Kentucky Derby, she selected the winners of all four races leading up to the main event, Rachel Bagnetto, spokeswoman for Retama Park, told ABC News. …

Her hot streak started with the eighth race on Saturday at Churchill Downs when 6-year-old gelding Limousine Liberal won the Churchill Downs Stakes.

She picked Maraud to win the American Turf Stakes in the ninth race, and Funny Duck to take the Pat Day Mile race despite 39-1 odds. Her selection in the 11th race was 9-1 longshot Yoshida, who beat out favorite Beach Patrol by a nose in the Old Forester Turf Classic.

The woman’s easiest bet was Justify, who was the favorite at 3-1 odds and won the 144th Kentucky Derby by 2 1/2 lengths.

6. An error turns out to be expensive

We left this one for last because it’s such an unpredictable rarity: A glitch in FanDuel’s computers resulted in a bettor getting 750-to-1 odds on the Broncos to beat the Raiders with a minute to go in the contest, and a $110 bet was eventually honored after Brandon McManus nailed a game-winning field goal, netting the gambler $82,000.

US Sports Betting Fever Expected To Attract Money Launderers – – Legal Gambling News

Money launderers are always on the lookout for ways to wash their dirty money and turn it into clean money. One of the most common ways they go about this process is to target the gambling market. The operation is pretty simple. They walk into a casino and make a large deposit or deposit a huge amount at an online casino, spend some of it at the tables and then withdraw the balance as clean money.

The former enforcement chief of the US Financial Crimes Enforcement Network (FinCEN) Gregory Lisa recently spoke in a conference at the University of Las Vegas Nevada and said that with states legalizing sports betting in the country, it provides money launderers another way for them to wash their dirty money. She pointed to the letter of warning that FinCEN issued in 2014 on sports betting and claimed that the warning was now more relevant than ever.

The 2014 letter was sent to Las Vegas sports betting operators since Nevada was the only state at that time offering legalized sports betting. The warning was mainly focused people betting for third parties, warning casino operators to take note of patrons who say they are wagering for another party.

In a statement, Lisa said

There’s a greater risk if they get out over their skis and develop the business before they develop their regulatory compliance, there’s going to be missteps. Anytime you do something fast and doesn’t have compliance program build up beforehand, you’re playing catchup.

Casinos At Risk

Though sports betting is very lucrative for gambling operators, it can also put them at risk. Casino operators will have to be very diligent CG Technology getting fined $12 million for violating the anti-money laundering provisions of the Bank Secrecy Act.

Enforcement agencies will be placing a lot of scrutiny on the sports betting market as more operators enter the space and new states legalize sports betting. The big problem for casinos is that they can be penalized multiple times for the same violation by different law enforcement agencies and regulators.

Lisa stated that casino should have their respective departments communicate with each other in order to avoid any such regulatory breaches. Casinos don’t need to look into every customer but they do need to look at players who always bet big, especially if inquiries reveal that they have more money than they actually should.