Author Topic: Sportsbooks to Open at Nats Park  (Read 4176 times)

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Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #75: December 03, 2018, 12:40:02 PM »
Evans is part owner of a lobbying firm, that firm has a client that is a contractor supporting the DC lottery, Evans wants to give the DC Lottery the sole contract for mobile sports betting.

http://www.districtdig.com/2018/11/15/new-jack-city/

Online HalfSmokes

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Re: Sports Books to Open at Nats Park?
« Reply #76: December 03, 2018, 12:51:22 PM »
:lmao:

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #77: December 03, 2018, 01:24:10 PM »
Council member Robert White is pushing an amendment to open up mobile betting contracts for minorities and women, breaking the DC Lottery monopoly. This proposal would also allow MGM, Draft Kings, and others big name betting firms access to the DC market.

So sports betting is inevitable but there is sure to be a battle over the mobile licensing.

https://m.facebook.com/story.php?story_fbid=293134367999189&id=674574469221989&refsrc=http%3A%2F%2Ft.co%2FPedX6NSRYv&_rdr

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #78: December 03, 2018, 07:48:55 PM »
Three interested groups have emerged in the battle over the DC sports betting law. 1) An alliance between several large sports betting sites (MGM and DraftKings) and sports leagues (MLB and NBA), 2) the DC Lottery and their contractor Intralot, and 3) small businesses in DC trying to jump in on the gold rush. Up until now the leagues have been at odds with the betting sites, the leagues want a big cut of the action and the sites figure that the leagues benefit enough from increased interest without a straight percentage share. But with the DC Lottery and Intralot lobbying for a monopoly on mobile betting in the city the leagues and betting sites have suddenly found common ground.

Evans has been promoting the proposed law as a "hybrid" model, with the betting sites, teams, and local business owners able to operate in-house retail betting and the DC Lottery running mobile betting. Sounds good except that the real money is in the mobile licences. The graphic below was put out by Intralot to show that the city would get 10-17% of the net on betting via the lottery vs under 1% via the betting sites. But their figures are so juiced it's a joke. They expect people to bet with their site taking a 20-30% cut, meaning they'll get a fraction of the potential volume. They also exclude marketing, which is typically the #1 biggest expense when running a betting site.

The local business owners might be in a good position here. Normally no one would care much about them, but if they team up with the betting sites and league alliance they might be able to get a decent piece of the pie in return for their potential to tip the scale away from the lottery. The big sites are dismissive of the chances of a small company succeeding in direct licence ownership, claiming that the start up costs are too high for them to compete, instead they are offering contracts for marketing and other local services. The one local guy who testified before the Council last month rejected the idea that he'll never get up and running, he seemed pretty confident that he knows the challenges involved and wants to compete head to head.

Tomorrow is what is called the first read before the full council. There will be a second read, then the mayor and Congress will approved the law. The target go live date is April, just in time for baseball and the NHL/NBA playoffs.

https://www.legalsportsreport.com/26487/sports-betting-operators-lobbying-with-leagues/
https://www.legalsportsreport.com/26526/dc-lottery-sports-betting-vendor-exaggeration/

Online HalfSmokes

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Re: Sports Books to Open at Nats Park?
« Reply #79: December 03, 2018, 08:23:53 PM »
am I the only one who thinks that Evans enjoys a stay in a federal prison at some point?

Offline mitlen

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Re: Sports Books to Open at Nats Park?
« Reply #80: December 03, 2018, 08:33:28 PM »
am I the only one who thinks that Evans enjoys a stay in a federal prison at some point?

I'm thinking mayor.   I read PB69's post and couldn't help think about all the greedy bastards wringing their hands, plotting a way to get in on the action.    Or, at least planning a kick back scheme of some sort.

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #81: December 03, 2018, 08:47:47 PM »
I'm thinking mayor.   I read PB69's post and couldn't help think about all the greedy bastards wringing their hands, plotting a way to get in on the action.    Or, at least planning a kick back scheme of some sort.

I'm not sure of the mayor's play here, indications are that she will sign the bill passed by the council, whether it favors the lottery or the big betting sites. Definitely Evans looks dirty. White is setting himself up as the champion of the common man, but his stance aligns with MGM, Draft Kings, and the leagues.

Offline mitlen

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Re: Sports Books to Open at Nats Park?
« Reply #82: December 03, 2018, 09:06:13 PM »
I'm not sure of the mayor's play here, indications are that she will sign the bill passed by the council, whether it favors the lottery or the big betting sites. Definitely Evans looks dirty. White is setting himself up as the champion of the common man, but his stance aligns with MGM, Draft Kings, and the leagues.

I meant Evans becoming mayor rather than goin' to prison.    No matter how it works out, Bowser will have a hand in it  ...  even if it's campaign contributions.

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #83: December 04, 2018, 06:32:58 PM »
Intralot wins big, Evans' "hybrid" proposal has passed through the council "first reading", "second reading" is in two weeks, after which the mayor will sign the bill and Congress has 30 days to review. The law could be in effect as soon as mid-January, allowing the DC Lottery to begin setting up mobile betting in the city.

With no in market competition Intralot has been proposing a 20-30% "hold", rather than what in a competitive market would be as low as 5%. Of course who in their right mind would bet with a bookie taking that kind of a cut? MGM was ready to step in with their app that is already in use in NV and NJ but instead DC will probably end up with some sort of crap app with parlays and other convoluted bets designed to hide the terrible odds.

The city still expects for MGM (or another big sports book) to set up shop in Nats Park, Audi Field, and the Cap One Center, but that is less likely now because the start up costs are enormous and it's questionable whether there will be enough volume to justify the investment without mobile betting. The city also expects a number of hotels and bars to open smaller operations.

DCFPI (Fiscal Policy Institute) has a great article arguing the case against sports betting in the city, basically the tax revenues are being greatly exaggerated and the costs greatly understated, it's just not worth the hassle. This is of course correct, but with betting inevitable it would have been better for the city to allow the big name companies to compete rather than allowing the failing DC Lottery to screw it up.

https://www.dcfpi.org/all/testimony-of-ed-lazere-at-the-public-hearing-on-bill-22-944-the-sports-wagering-lottery-amendment-act-of-2018/

One interesting exchange during the Council meeting was over the RFK site. The bill names RFK as one of the five stadium sites to get the initial licences, but it's on Federal land so the city can't override the US government's ban on gambling on their property. The assumption being made is that the city is working with the Feds to take ownership of the site prior to the return of the Redskins to DC.

Offline mitlen

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Re: Sports Books to Open at Nats Park?
« Reply #84: December 04, 2018, 06:59:54 PM »
One interesting exchange during the Council meeting was over the RFK site. The bill names RFK as one of the five stadium sites to get the initial licences, but it's on Federal land so the city can't override the US government's ban on gambling on their property. The assumption being made is that the city is working with the Feds to take ownership of the site prior to the return of the Redskins to DC.

Weren't there discussions several years ago about a DC/Fed swap involving the RFK land?    IIRC the locals didn't wanna jeopardize Langston and over-developing the "neighborhood".

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #85: December 04, 2018, 07:20:09 PM »
Weren't there discussions several years ago about a DC/Fed swap involving the RFK land?    IIRC the locals didn't wanna jeopardize Langston and over-developing the "neighborhood".

Probably. Might be easier to make a deal with Trump in office. My guess is that the Redskins will be ready to break ground five minutes after this bill becomes law.

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #86: December 07, 2018, 07:58:24 AM »
Intralot's owner has a long history of corruption allegations, here is one of many articles. Intralot partnered with DC09 to bid on the DC Lottery contract.
Quote
Socrates Kokkalis: A History of Controversy

Socrates Kokkalis has long been a lightning rod for accusations of various financial crimes. The current Nea Demokratia government, when they were in opposition, repeatedly charged him of illegal collusion with the then-ruling PASOK government of Costas Simitis, and later made a compelling campaign issue out of such ties.

A Greek blog summarizes the prior charges against Kokkalis. On February 19, 2002, after relentless pressure from the ND opposition, the businessman “was charged with four felonies and two misdemeanors, including espionage against Greece; money laundering (through off-shore companies); defrauding investors in his flagship Intracom telecom company; bribing government officials; and receiving criminal proceeds in the form of “gifts.'”

Soon thereafter, on February 28, he “was additionally charged with defrauding investors to the tune of 483 million euros via sale of new stock and failure to invest proceeds in his publicly quoted companies as required by law.”

Further, Kokkalis is wanted in Russia for his role in an illicit instant lottery game that siphoned off “an undisclosed amount of Russian government money,” a scheme that apparently involved large-scale money deposits in Swiss banks.

The same article noted that the aforementioned Angelopoulos is not only linked to “a major international cocaine trafficking ring;” it further “turns out that Mr. Angelopoulos is an avid gambler like Mrs. Marmara: by his own tax declaration, he has won 9,524,042.92 euro (or, roughly, US dollars 11,425 million) between 2002 and 2004.”

At the time of the original charges against Kokkalis, the Socialist PASOK party was in power. But leaders soon began seeking to distance themselves from the tainted businessmen, as they started falling under the withering fire of opposition leader (and current Prime Minister) Kostas Karamanlis of Nea Demokratia. Karamanlis was successfully able to use such examples of Shady PASOK dealings to defeat the Simitis government in March 2004 elections.

On February 20, 2002, the BBC also reported that Kokkalis was under scrutiny for alleged ties to the Stasi, East Germany’s feared secret service during Soviet times. According to the BBC, he was “the first Greek citizen to face a formal probe for spying against his own state.” The businessman was born in the Soviet statelet to Communist parents, and was educated later in Moscow before returning to Greece. His subsequent fortune ($1.2 billion) came through the creation of telecoms suppliers Intracom in Greece, as well as through dodgy lottery schemes in both Greece and Russia.

DC09 didn't have much history before partnering with Intralot, but they did have a connection to the DC government. They are now a client of Jack Evans' law firm.

Quote
The document is a site visit report by two city employees who visited VSC's listed address in August 2009 to make sure they were eligible to be certified as a local business, or in city-speak, a CBE. VSC's "office" was in Barbara Bailey's family room in her home on Mississippi Avenue SE. (Barbara Bailey is a former city government employee who reportedly worked with Gray back in the '90s; she's also Emmanuel Bailey's mother and is currently listed as VSC's chairman.) VSC's entire office consisted of two computers, two desks, a printer, and two chairs in Barbara Bailey's family room.

Jack Evans is offering the local sports franchises an 'integrity fee' (that got removed) and exclusive zones around the stadiums and arenas. He is trying to get the franchises to get on board with the DC Lottery monopoly on mobile gaming, excluding MGM, Draft King and others. Intralot is going to be a bottom feeder, looking for betters willing to play parlays and other long shot bets where they can take 20-30% of the handle. In a competitive market companies often take less than 5%.

From US Bets:
Quote
The DC Lottery apparently will be offering a sportsbook whose most notable feature is price gouging. You guys in D.C. like betting into -140 on both sides?

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #87: December 07, 2018, 04:59:36 PM »
One interesting exchange during the Council meeting was over the RFK site. The bill names RFK as one of the five stadium sites to get the initial licences, but it's on Federal land so the city can't override the US government's ban on gambling on their property. The assumption being made is that the city is working with the Feds to take ownership of the site prior to the return of the Redskins to DC.


https://www.washingtonpost.com/amphtml/powerpost/redskins-dc-working-with-congress-to-slip-stadium-provision-into-spending-bill/2018/12/07

Offline RobDibblesGhost

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Re: Sports Books to Open at Nats Park?
« Reply #88: December 18, 2018, 04:07:22 PM »
The DC Council has voted to officially legalize sports betting.

Here. We. Go.

Offline PowerBoater69

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Re: Sports Books to Open at Nats Park?
« Reply #89: December 18, 2018, 04:09:59 PM »
DC legalized sports betting, giving the DC Lottery a monopoly on mobile betting. Nats Park will have betting in house.

DC is passing an emergency bill to make this legal immediately, without waiting 30 days for Congress.


Offline mitlen

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Offline PowerBoater69

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Re: MGM Sportsbooks to Open at Nats Park
« Reply #92: December 21, 2018, 05:22:25 PM »
:hysterical:    I read that article this morning.     Couldn't help but wonder how he has his fingers in the sport's book racket.

Exact same MO, he had the lotto company hire his lobbying firm.

Offline mitlen

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Re: MGM Sportsbooks to Open at Nats Park
« Reply #93: December 21, 2018, 05:25:38 PM »
Exact same MO, he had the lotto company hire his lobbying firm.

Indeed

Offline PowerBoater69

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Re: MGM Sportsbooks to Open at Nats Park
« Reply #94: January 09, 2019, 09:42:38 AM »
Could be that the scrutiny on Jack Evans is affecting the sportsbook bill. The Council is taking another look. Probably this means that it won't be ready for opening day but will hopefully result in a better deal.

Quote
@maustermuhle Some inside D.C. Council news: @ChmnMendelson has pulled an emergency bill that would have suspended normal procurement rules to give D.C. Lottery a sole-source contract to run a mobile/app-based sports betting platform. He says he'll instead hold a hearing on it.

Offline machpost

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Re: MGM Sportsbooks to Open at Nats Park
« Reply #95: January 09, 2019, 02:09:27 PM »
am I the only one who thinks that Evans enjoys a stay in a federal prison at some point?
That's probably where he belongs, but District politicians all seem to have an uncanny ability not only to avoid prosecution, but to get reelected in spite of clear wrongdoing.

Online varoadking

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Re: MGM Sportsbooks to Open at Nats Park
« Reply #96: January 09, 2019, 04:08:47 PM »
That's probably where he belongs, but District politicians all seem to have an uncanny ability not only to avoid prosecution, but to get reelected in spite of clear wrongdoing.


Offline PowerBoater69

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Re: MGM Sportsbooks to Open at Nats Park
« Reply #97: January 28, 2019, 09:19:32 PM »
The fix was in, the DC Council held another hearing today, expected to be a debate over whether to open the mobile betting contract up for competitive bidding vs the previously selected single source the contract to Intralot, instead they changed the bill to not only single source sportsbooks to Intralot but to tack on an extension to their lottery contract. So Intralot is an instant winner, they have exclusive rights for mobile betting, they regulate the brick and mortar sportsbooks, and their lottery deal is extended with no competing bids. Talk about the DC lucky lottery. (Pending a vote by the full Council in the next few days.)

Executive Director of the DC Lottery Beth Bresnahan is the name to remember for the day. She hired a company called Spectrum to perform a study on the best course of action for starting up sportsbooks in the city. And guess what, according to an article in Sports Handle, Bresnahan has "ties to Spectrum employees". Spectrum also happens to be a client of Intralot. So the city employee in charge of making sure that everything lottery related is above board commissioned a company that she has a personal connection with to assess one of their own business partners.

Not surprisingly Spectrum determined that a rush to award Intralot a sole sourced contract is a necessary course of action in order to not cost the city $60 million in lost revenue. (To prove that point there were a number of preschool teachers present to testify how desperate they were to quickly get access to the promised flow of gambling revenue.) The justification is that it takes the city three years to conduct a competitive bidding process, leading to the tens of millions of lost revenue, plus MD and VA will leapfrog DC in the race to be first to market.

The Nats Park related news is that the time frame appears to have been pushed back a few months, now they are trying to have betting available in time for football season rather than opening day.


Offline mitlen

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Re: MGM Sportsbooks to Open at Nats Park
« Reply #98: January 28, 2019, 10:10:15 PM »
The fix was in  .....

This'll be fun   ....    :popcorn:

Online HalfSmokes

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Re: Sportsbooks to Open at Nats Park
« Reply #99: January 29, 2019, 08:25:54 AM »
One party rules tends to end in corruption. Remove the state oversight that most large cites have (congress seems to to care unless dc does something related to wedge issues) and you get this. Sorting it out should keep the us attorney busy down the road