Someone in the news looks at the numbers

Often, folks in the media accept whatever number’s thrown at them when gambling’s concerned. If someone says a study claims that governments will make billions a year legalizing online gambling, it’s accepted without question.

But Josh McMahon of New Jersey News Room actually did some research when it comes to one net gaming proposal:

What I do object to, however, is the ballooning of expectations.Lesniak and others claim New Jersey can collect about $100 million a year from sports betting but their numbers don't add up.I can't follow his math. I challenged him on this last year but never heard from him. He didn't produce the numbers.Here's why I'm skeptical. Last year all 266 Nevada casinos “won” a total of $136.3 million from sports betting. That's what the casinos had after they paid off the winners.

via The over/under of Lesniak’s sports gambling plan | Commentary | — Your State. Your News..

It’s good to see people actually look at the numbers to see if they make sense.

One quibble–in the article, McMahon claims that Nevada casinos had $11.5 billion in gross gaming revenue “last year.” The actual total is $10.3 billion for 2009, and $11.6 billion for 2008. I don’t usually go out of my way to correct other people, but since we’re talking numbers and accuracy, I figure it’s fair play. Although to be fair to McMahon, the sports betting total for 2008 was also about $136 million, so it would be easy to confuse the two years.

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