On December 14, 2017, The Walt Disney Company announced plans to acquire 21st Century Fox (Fox Sports' parent) for $52.4 billion; this will include key assets such as 20th Century Fox, FX Networks, National Geographic Partners, its regional sports networks, and its international networks. The Fox television network, Fox News Channel, and the non-regional Fox Sports assets (Fox Sports 1 and 2 (FS1 and FS2) cable channels, and the part of Fox Sports attached to the Fox television network) will be spun off into an independent company run by the Murdoch family.
Until now, bettors looking to place a wager on their favorite sports team had two unattractive options: either open an account on a black market site, or seek out a corner bookie. In both cases, the party taking wagers was doing so illegally, and because illegal bookies are working in an unregulated space, there is nothing preventing them from offering poor lines, refusing to pay out winnings, or banning players without a reputable cause.
On the other hand, if there's a sport that you want to bet on but have no idea how to go about it, then buying a weekly package may work out for you. For instance, if you're looking to bet on the UFC but don't know enough about the fighters and the sport itself, a picks service will give you a detailed analysis on why their handicappers are picking one fighter over the other and why.
New Jersey started accepting wagers on June 14, just three days after New Jersey Gov. Phil Murphy signed the bill into law. Monmouth Park and Borgata Casino are the first two New Jersey properties to start taking wagers. The FanDuel Sportsbook at The Meadowlands launched a couple of weeks later. There are currently nine sportsbooks operational in the state with eight online and mobile apps.
There are a couple of federal laws that directly influence sports betting in all fifty states, not just in Texas, that you should be aware of. These are the Federal Wire Act and the Unlawful Internet Gaming Enforcement Act (UIGEA). The federal Wire Act prevents people from taking wagers over state lines. The UIGEA prevents banks and financial institutions from processing gambling transactions made online in the US. This doesn’t prevent the usage of online sportsbooks, it just makes it a little tougher for credit cards to be accepted as deposit methods.
Admittedly, in order to ensure their accounts will remain secure, online bettors will have to endure an exhaustive signup process, which may require them to provide sensitive info such as their social security number. They may also be required to verify their identity and cashiering methods via scanned and uploaded documentation. Still, this is a small price to pay in exchange for the ability to wager from anywhere in the state from which the online book operates.
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