Delaware is looking into expanding its' legal gambling into sports betting. I approve, and hope the state sets up a situation similar to Las Vegas.
It can even better Vegas by improving the services offered so as to rival internet sports betting. This would include politics, financial markets, and other unknown events that people like to predict.
As a country we need to regulate sports betting (and other prediction markets) and tax it. There maybe should be limits on any event where there are minor (under 18) atheletes or participants, but the bias should be towards freedom. The trend should go toward player vs player betting with the state or casino being the broker. We need to allow people to set their own lines and wagers.
For example, I should be able to offer a bet:
How many bills will President Obama veto in 2009?
Tiger Woods to finish in top 10 of the Masters at -550
The point is the government should be available to establish an orderly market where will people can offer and recieve bets of their choosing.
Hopefully, we are headed in this direction.