Tuesday, April 5, 2011

How much do you want to bet that the Lakers will three-peat?

The words "Betting" and "Lakers" have widely been associated thanks to Lakers owner Jerry Buss and his amateur professional poker game. Dr. Buss hosts his annual Mariani/Buss Poker Tournament benefiting the Lakers Youth Foundation. Gambling can be a good thing if done right and in moderation. Recently I've been introduced to online sports betting. After getting my feet wet a little I wanted to briefly talk about the misconceptions of the legalities of online betting. Here are some facts that should steer you to the right path. There is still no federal law that prohibits players from betting on sports when using an offshore sportsbook. Meaning you are in violation when you bet online using a company based in the United States. There is a federal law that makes it difficult for banks to process gaming transactions, but that has nothing to do with the player. If you win and make a sizable profit be sure to claim it on your taxes.

So if you had a spare Benjamin would you bet on the Lakers three-peating? Maybe early on in the season you'd choose to buy a pair of new kicks but now that the champs are playing like champs with their current streak of 17-2 since the all-star break you'll probably reconsider. Put your money where your mouth is.

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