Monthly Archives: September 2021

Giant letters, reading the word "blockchain" are displayed at the blockchain centre, which aims at ... [+] boosting start-ups, on February 7, 2018 in Lithuania's capital Vilnius. Britain's divorce with the European Union is paying off for Lithuania as it strives to become a northern European hub for financial technology, or "fintech" firms, and blockchain-based start-ups. European Parliament member and entrepreneur Antanas Guoga launched the blockchain centre in Vilnius to boost start-ups and establish connections with Asia and Australia. / AFP PHOTO / Petras Malukas (Photo credit should read PETRAS MALUKAS/AFP via Getty Images)

Following a successful September launch, Wyoming became one of the latest states to offer a regulated sports betting market to those within state lines. Yet, while Wyoming is the least populous state in the country, it is catching the attention of sportsbook operators, largely thanks to its decision to allow the use of blockchain technology for sports betting transactions.

The federal ban on sports betting was repealed on May 14, 2018, when the United Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA). Three years later, some form of sports betting is now regulated in now legalized in 26 states and Washington, D.C.

While most states where sports betting is legal allow for a similar framework, this rapid expansion has seen each jurisdiction attempt to find the perfect formula needed to offer consumers a competitive marketplace while capitalizing off of the taxable revenue.

Interestingly enough it took more than three years for a state to draft legislation that would permit the use of cryptocurrencies.

Wyoming sports betting law allows players to deposit funds into their accounts with a variety of crypto and digital currencies, with Bitcoin remaining the most popular option. Per House bill 133, Wyoming sports betting shops may accept digital, crypto and virtual currencies as long as they can be converted into a cash-based currency.

State legislators have decided to embrace the advancement of blockchain technology, and a number of crypto-friendly bills have been approved in hopes of attracting crypto businesses to the state. So common are the crypto conversations in Wyomings Senate chambers that Senator Jeff Wasserburger claims there was very little discussion when it came to the inclusion of crypto-friendly language in the states sports betting bill.

A players ability to deposit with crypto might not seem groundbreaking, but Wyoming has essentially given the operators the green light to begin experimenting with the technology. What starts with improved funding and withdrawal methods could quickly lead to an entirely new experience for bettors all together.

Sports betting is a multi-billion dollar industry, and estimates from Forbes project that the United States could generate annual revenue in excess of $20 billion alone if all 50 states pass legislation.

GammaStack CEO Mr. Gaurav Soni has always rooted for crypto and blockchain based sports betting software solutions and online casino software solutions.

"There is already a massive demand in crypto and blockchain based betting and gambling software solutions around the globe. 35% of the queries we receive revolve around the same."

Blockchain technology has revolutionized financial transactions, and many suspect that sports betting software would greatly benefit from its adaptation into the industry. Players are always looking for faster and safer ways to transfer money, and sportsbooks could greatly reduce operational costs if they were able to sidestep traditional credit card processing fees.

Lower operational costs either allow the book to operate with better margins, leading to more taxable revenue. These savings could also be extended to the consumer in the form of more competitive wagering lines.

In essence, sportsbooks serve as betting exchanges where the odds move one way or another in reaction to the amount of interest or money coming in on a particular outcome. Most American operators have already partnered with a number of companies to support everything from data acquisition, wagering software, geo-fencing, and casino software solutions. It isnt far-fetched to anticipate a time where sportsbooks would partner with crypto exchanges to develop platforms allowing them to serve as digital wallets, allowing players to exchange digital currencies and even wager against other players with their holdings.

Hypothetically, a customer could hold a number of coins in his sportsbook wallet and still play the crypto markets, all while having the ability to quickly place a wager with their coin of choice without ever having to leave the platform.

DraftKings recently made the news with their decision to open up an NFT exchange in a partnership with Autograph. The blockchain exchange allows players to participate in specialized drops, buy and sell sports-themed NFTs, and participate in free-to-play competitions in exchange for digital property.

In doing so, DraftKings has turned to blockchain technology to create a unique and exclusive environment for subscribers, and one that gives their marketing team direct access to potential bettors.

Legislation is sure to change as sportsbooks further invest in the exploration of blockchain technology and its potential uses in the sports betting industry. While cryptos involvement in the industry is limited to player deposits in the countrys smallest state, Wyomings legal framework has opened the door for the entire market.

It had to start somewhere.Why not Wyoming?

Link:

The Next Frontier For US Sports Betting Is Crypto And Blockchain Technology - Forbes

Gov. Ned Lamont is ready for CT sports betting to get started, but he might have jumped the gun a bit in recent comments.

Lamont said sports betting could begin any day now at the two tribal casinos, Foxwoods and Mohegan Sun.

My instinct is the tribes, hopefully, will do something collaboratively at the same time on site, and were just waiting for the final approval so we can get everything going online as well, Lamont added.

While some local media took Lamonts comments to mean CT sports betting could launch this week, that likely is not the case.

The federal Department of Interiorgave its blessing on updated gaming agreements between the state and its two tribal partners last week.

Those agreements must appear in the Federal Register to take effect, though. Lamonts office assumed that would happen the same day the approvals arrived, a spokesperson said.

It will take about a week to square away all the licensing issues before those retail bets can happen after publishing, the spokesperson added.

The states three online sportsbooks should still launch simultaneously in October:

There is another group of bettors eagerly waiting for the launch of sports betting in Connecticut: Massachusetts residents.

The Massachusetts Senate is again holding up the discussion on legalizing sportsbooks in the Bay State. Its proposed bill was not updated following a stakeholder meeting in June. The House, meanwhile, amended its bill and passed it by a 156-3 margin.

Gov. Charlie Baker is growing impatient as well. He tweetedSunday its time to get Massachusetts sportsbooks legalized, adding the state is losing out to many neighbors. So far, Massachusetts has three neighboring states that accept legal sports bets, with CT poised to become the fourth shortly.

Mohegan Digital CEO Rich Roberts told LSR he expects to see a good amount of out-of-state marketing. That could include New York as well since online NY sportsbooks might not launch until around the Super Bowl.

Continue reading here:

Lamont Says CT Sports Betting Starting Soon, But There's A Catch - Legal Sports Report

The repeal in 2018 of the Professional and Amateur Sports Protection Act of 1992 (PASPA) has opened up the possibility of legal sports betting across the US, creating a potential gold rush as the betting industry along with sports leagues and clubs and other players in the market look to take advantage of the potentially significant income streams on offer. At the same time, an increase in gambling, even though legal, raises the possibility of harm both to consumers and the integrity of the sports being wagered on.

How to manage the risks and opportunities of sports betting in the US market was the subject of debate at a round table discussion held on Wednesday afternoon as part of SIGA Week 2021, organised by the Sport Integrity Global Alliance (SIGA) the worlds largest coalition in the field of sports governance and integrity, which seeks to bring about meaningful reforms and enhance the integrity of all sports, according to the organisation, of which this newspaper is a media partner. The subject of sport betting in the US was particularly relevant given that SIGA America launched its high-level Advisory Board today.

The round table on US sports betting was chaired by SIGA Global CEO Emanuel Medeiros, who was joined by Matt Zarb-Cousin, co-founder and director of external affairs for Gamban, an online gambling blocker; Marc Riccio, CEO of USA Lacrosse; Oliver Jaberg, Deputy Chief Legal & Compliance Officer / Director of Integrity & Anti-Doping at FIFA; and Marquest Meeks, Senior Counsel, Sports Betting and Compliance Director, State Government Relations at MLB.

In what was a wide-ranging discussion, several key issues were raised, one of which was the approach to be taken by leagues and clubs to the new legal situation.

Marquest Meeks from the MLB stressed that the original approach of the MLB, prior to the repeal of PASPA was that, any time you put gambling and money around something there is always the increased risk for corruption and so the initial stance of baseball was no sports betting, it shouldnt be legalised.

However in the face of the Supreme Court decision the league decided it was better not to put our heads in the sand and has instead sought to become involved in how laws are drafted and regulations are put in place to help protect the integrity of our game.

Meeks said one of their approaches is to go state to state advocating for what the MLB calls its integrity toolkit, which are the measures they believe should be in laws and regulations to help protect the integrity of their sport.

Mark Riccio, CEO of USA Lacrosse was clear that the opening up of sports betting offered both opportunity, in terms of the possible revenues, but also the potential of reputational risk. For the marketers, revenue generators and fan engagement professionals its a tremendous opportunity because it drives fan engagement and revenues. For Chief Operating Officers its a mixed bag as a great opportunity but also representing reputational risk. For commissioners, CEOs and owners its also a conflicting story.

Riccio also stressed the fact that gambling regulation is now being done state by state across the US can be an issue, with the need to ensure the regulation promotes integrity in each state. In particular enforcement is done at a state by state level, meaning there can be differences in the approach across the country.

Meeks chimed in to say that from the perspective of a major league such as MLB, the most challenging aspect is the state by state nature of it all. He explained that often its possible to get the toolkit and safeguards implemented in one state, only to have to start from scratch in the next.

According to FIFAs Oliver Jaberg, the experience of football's world governing body is that legalising and regulating betting is the way forward, because illegal betting, which is closely linked to match fixing and manipulation creates higher potential risk of undermining the integrity of sport.

Even with legal gambling however, the fight against match manipulation is vital Jaberg explained, with FIFA taking a three pillar approach:

1. Educating and raising awareness with players and officials

2. Engaging in cooperation with different stakeholders: betting companies, law enforcement and international organisations and private organisations such as SIGA

3. Going after wrongdoers, not just from within the remit of FIFA, but also with prosecution by law judicial systems in order to establish a deterrent effect.

In terms of the approach at MLB, Meeks explained they have a zero tolerance approach with nobody who works in the sport allowed to bet on bat and ball games, not softball, not Olympic baseball, nothing.

Matt Zarb-Cousin, of Gamban, stressed the dangers of gambling addiction, in particular towards young men, and said the consumer perspective was extremely important as sports betting expands in the US.

According to the executive, betting companies may seek to use sports betting as a bridge to initially attract gamblers and then push them into higher frequency gambling behaviour, on such products as slots, which make up half of all online gambling profit. Zarb-Cousin argued that it is important that such cross-selling of gambling products be regulated to avoid the industry pushing people into what can be more dangerous areas.

Another area of risk identified by the co-founder of Gamban, whose internet blocking products are used by 90,000 people mostly in the UK, with some in the US, is the quantity of bets offered. An example he gave is that of the time of the first throw-in which is far easier to fix than the outcome of a match. Zarb-Cousins recommendation is that there are licensing agreements for bookmakers from the regulators restricting which bets can be offered.

In summing up, Zarb-Cousins final word was that he hoped US Sports Betting would learn from the mistakes made in the UK market, a sentiment that was echoed by the whole panel.

Riccio added that the educational aspect was highly important, while FIFAs Jaberg noted that without integrity, sport is dead. Marquest Meek concluded that education and collaboration are the two things we need in the fight for sport integrity in the face of the liberalisation of US Sports Betting.

Link:

Opportunity and risk as sports betting takes off in the USA - AS English

Facebook is dipping its toe into fantasy sports with the launch of Facebook Fantasy Games.

The free, simple prediction games will be rolled out in the core Facebook app in the US and Canada over the coming months.

Facebook said the games brought the social fun of traditional fantasy sports to simpler formats.

The new offerings include:

The games were built in partnership with Whistle Sports. There will be public leaderboards and private leagues for players to compete and trash-talk each other.

A Facebook spokesperson told LSR the company does not have any current plans to offer betting.However, these predictor games are a very popular way to acquire real-money gaming customers.

In fact, several large US media properties have a predictor game that acquires customers for a sportsbook:

Foxs Super 6 alone has seen nearly 100 million entries since launch in September 2019, with a user base of nearly 5 million.

That database could be worth up to $1 billion based on valuations for other sources of customers. For comparison, The Action Network and its 1 million customer base sold for $240 million.

Facebook could easily build up a similar database in the next couple of years. The platform has around 200 million users in the US.

It is pretty big that Facebook is now in the sports gaming space, said Daniel Kustelski, CEO of free-to play games firm Chalkline Sports.

Everyone wants to build a database of sports fans that lean towards a bet. The first-party data captured during game play is a key value-driver for media companies like FB that want to partner with operators.

Of course, Facebook is known for perfecting its products before even thinking about monetization. So dont necessarily expect any new operator deals in the short term.

But it is worth noting the social media giant has links with multiple sportsbooks through traditional digital advertising deals.

Those firms could be in play for a valuable database down the road.

See the article here:

Why It Matters That Facebook Is Dabbling Near Sports Betting - Legal Sports Report

In late spring, lawmakers in Massachusetts and Ohio punted on sports betting. Its now just after kickoff in the first quarter of the NFL season, and its looking a lot like legislatures in both states still have not come up with the perfect trick play to move the ball forward. Not even for a first down.

In Ohio, the legislature returned to formal session this week with redistricting as the priority. Senate President Matt Huffman offered up a non-convincing comment about gambling expansion We of course need to resolve the sports gambling issue, one way or another to the Springfield News-Sun. At about the same time, Massachusetts Gov. Charlie Baker, author of one of more than 20 wagering bills, opined on Twitter that its time to act and get this done.

The sports betting bills in both states are sitting in committee and its looking more and more likely that another calendar year will pass without legal wagering approved by either legislature. For Massachusetts, that means watching yet another neighboring state (Connecticut) go live. Ohioans, meanwhile, are still faced with a trip to neighboring Michigan, Pennsylvania, or West Virginia to place a legal sports bet. Clear across Lake Erie, as well, Canadians are now able to wager.

While very little would seem to prevent legalizing in either state as their neighbors have, politics are at play. With redistricting a priority in Ohio like many other states, it may be a longshot that much of anything else will get done before the end of the year.

According to the Springfield News-Sun, there was a deadline for redistricting decisions Wednesday, and if the General Assembly cant get three-fifths approval in both chambers plus at least half of each party caucus by Sept. 30, then a redistricting committee will be set. The committee would have until the end of October to redraw the districts for legislators to approve by Nov. 30.

Should lawmakers find time for anything not related to redistricting or COVID-19, they would still have work to do settling their sports betting differences. The Senate passed SB 176, which was the culmination of months of stakeholder meetings and compromises, but the House has its own version of a bill after rejecting the latest Senate attempt to attach the issue to a veterans ID card bill.

In Massachusetts, home to DraftKings, things are equally as political. The House, which has attempted to attach sports betting to the budget multiple times, in July passed its latest attempt, 156-3, only to have it languish in the Senate all summer. There are currently 23 bills on Beacon Hill that deal with either wagering or gaming.

Several sources have told Sports Handle that the holdup now is political capital. There is talk of trading sports betting votes for legislation related to transgender drivers licenses. Whether or not that comes to pass, its just another window into how any issue can become a political football (see Georgias sports betting bill and votes withheld over voting rights).

More:

Massachusetts, Ohio Still At Crossroads When It Comes To Sports Betting - Sports Handle

CHICAGO, Sept. 15, 2021 /PRNewswire/ --Starting this month,Rush Street Interactive, Inc. (NYSE: RSI)("RSI"),a Chicago based gaming and betting company, is premiering city-specific sports betting audio and video podcasts across the U.S. for BetRivers and PlaySugarHouse brands.These locally-focused sports betting "CityCasts,"are airing weekdays on multiple platforms to deliver news, analysis and insights to help sports bettors make more informed wagering decisions.

"These CityCastsare locally focused, which is consistent with our strategy to offer our players Hometown Sportsbooks, and offer authentic and credible breakdowns specific to each host's home market,"said Richard Schwartz, CEO of RSI, which operates BetRivers. "The hosts' expert analysis will assist BetRiversand PlaySugarHouse bettorsin making knowledgeable sports betting decisions, whether they're experienced or brand new to the action."

Featuring some of the industry's most knowledgeable sports betting experts, CityCasts take an in-depth look into local teams, players and schedules to provide a unique view into the latest betting lines and what's moving them. The hosts, along with BetRivers and PlaySugarHouse bookmakers, set the stage for the day's biggest sporting events with local sports betting content that informs and entertains the growing number of Americans betting on sports.

RSI's CityCasts are currently live in:

Chicago - Chicago CityCast Archives | BetRivers Blog

Detroit - Detroit CityCast Archives | BetRivers Blog

Pittsburgh - Pittsburgh CityCast Archives | BetRivers Blog

Philadelphia- Philadelphia CityCast Archives | BetRivers Blog

Each CityCast selectively sources area talent and production staff to ensure a local lens for each city's content. Now live in Chicago, Detroit, Pittsburgh and Philadelphia, CityCasts will soon launch in the coming weeks for New York, Denver, Washington D.C., and Los Angeles, with other markets potentially to come in the future.

The new BetRivers podcast series is produced locally in each city five days each week and available in both audio and video formats across multiple platforms, including Home | BetRivers Blog,VSiN's website, iHeart Media, Apple Podcasts, Spotify and others. Local talent highlight what's happening in their city, sharing expert tips and predictions across the NFL, NBA, NHL, MLB, college sports and special local events.

Forward-Looking StatementsThis press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. RSI's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, RSI's expectations about its arrangement with VSiN and the anticipated contents, benefits and timing of the CityCasts. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside RSI's control and are difficult to predict. Factors that may cause such differences include, without limitation, changes in applicable laws or regulations, unanticipated product or service delays, and other risks and uncertainties indicated from time to time in RSI's most recent Annual Report on Form 10-K, including those under "Risk Factors" therein, and in RSI's other filings with the SEC. RSI cautions that the foregoing list of factors is not exclusive. RSI cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. RSI does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

About RSIRSI is a trusted online gaming and sports entertainment company focused on regulated markets in the United States and Latin America. Through its brands, BetRivers.comand PlaySugarHouse.com, RSI was an early entrant in many regulated jurisdictions and is currently live with real-money mobile, online and/or retail operations in ten U.S. states: Pennsylvania, Illinois, New Jersey, New York, Michigan, Indiana, Virginia, Colorado, Iowa and West Virginia. RSI is also active internationally, offering its online casino and sportsbook in the regulated gaming market of Colombia on RushBet.co. RSI offers, through its proprietary online gaming platform, some of the most popular online casino games and sports betting options in the United States. Founded in 2012 in Chicago by gaming industry veterans, RSI was named the 2020 Global Gaming Awards Digital Operator of the Year and the 2021 EGR North America Awards Casino Operator of the Year, Customer Services Operator of the Year and Social Gaming Operator of the Year. RSI is committed to industry-leading responsible gaming practices and seeks to provide its customers with the resources and services they need to play responsibly. For more information, visit http://www.rushstreetinteractive.com.

SOURCE Rush Street Interactive

http://www.rushstreetinteractive.com

More here:

Rush Street Interactive Launches Innovative Hyper-Local Sports Betting "CityCasts," Around The US For Its BetRivers And PlaySugarHouse...

Partnership deals, mergers and acquisitions are a common occurrence in the U.S. sports betting, with no signs of slowing down soon. Tipico Sportsbook and Caesars Entertainment are the latest conglomerates to reach a deal.

The deal between Tipico and Caesars is scheduled for ten years, and it will be for the Indiana and Iowa sports betting markets. Tipico will be able to launch a sportsbook in both states because of a partnership with Caesars properties in each state.

In Indiana, Tipico secured market access through a partnership with Harrahs Hoosier Park Racing & Casino. In Iowa, the sportsbook partnered with Isle Casino Hotel Bettendorf. The deal includes sports betting and access to the iGaming market, which is turning into a massive segment of the gambling industry.

Tipico U.S. CEO Adrian Vella was quoted in a press release following the deal earlier this week. He said, We are excited to announce Tipicos multi-state market access partnership with Caesars Entertainment, which marks an important step as we continue to expand our U.S. footprint. We look forward to establishing our brand presence in the midwest and introducing our highly scalable, proprietary multi-state sports betting experience to players in Indiana and Iowa.

Tipico will launch the sportsbook in Iowa during the fourth quarter of 2021. The Indiana platform will be on hold until the first quarter of 2022. The sportsbook is currently live in Colorado and New Jersey, so it will be in four states by 2022.

Tipico executives have already announced the plan to continue growing in the United States market. America is very lucrative, and the industry is still young, so this is a typical plan amongst international books.

Stephen Krombolz, Tipicos VP of Business Development and Strategy, was also quoted in the press release. He said, This new market access agreement with Caesars Entertainment is another exciting step forward for Tipico as we continue to connect with more U.S bettors. Indiana and Iowa are key states in our early expansion plans, but there is certainly more to come, and we look forward to announcing additional partnerships later this year.

Tipico, which is based out of Germany, has made multiple big deals in the United States since entering the market. In July, the sportsbook partnered with Gannett, the company that owns USA Today and USA Today Sports Media Group.

This gave Tipico exclusive access to the content to promote its platform. This deal was established for five years, and it made the sportsbook the exclusive partner for odds, props, free games, and iGaming.

Tipico launched in Colorado on Thursday, so it has been an exciting week for the platform. The book went live for the first day of the NFL season and offered a $750 deposit match to new users in the state. Captivating users and elevating their betting experience is at the core of Tipicos development and growth plan, and were proud of the capabilities that our app and our proprietary technology stack offers, Vella stated.

The next launch for Tipico will be its online casino platform in New Jersey later in the fall.

Ayden loves sports. There is no doubt about that. He is a walking calendar when it comes to the latest events in sports. He has grown into the passion of writing about them, and settled into his role as a writer after many freelancing jobs. He can write about any sport out there! This is the guy!

Original post:

Tipico and Caesars Reach Sports Betting Deal - USBettingReport

Football accounts for about one-third of the business for sports betting, meaningthestart of the NFL season will likely translate into a jump in sports wagering activity after a summer slowdown.

If there wasn't a football season, numbers would drop by about a third, said Eric Ramsey, lead data analyst for Play USA, a website that tracks the gambling industry.

Sports wagering is now legal in 26 states, according to the American Gaming Association.

That's up from 18 states with legal sports betting at the start of last year's football season. And some of the biggest markets in the U.S., including California and Florida, are moving toward legalization, with New York planning to adopt mobile sports betting at some point.

Pennsylvania is now the fourth-largest sports betting market in the country behind Nevada, New Jersey and Illinois.

Sports bettors placed $304 million in wagers at Pennsylvania casinos or online in July, almost twice as much as theyd bet in July of 2020 when there was $165 million in wagers placed.

July has traditionally been a slow month for sports betting since there arent many sports being played. Though this year, the Olympics seemed to provide an opportunity for a midsummer boost.

Even with the Olympics, sports wagering was down in July compared to June when there were $420 million in wagers placed. The Gaming Control Board has not yet released August data.

July is typically the very slowest month of the year, just not a lot going on in the calendar. It's really the most dead time for sports. We thought maybe Olympics might give it a little nudge this year, but really didn't see much of that. Everyone was down 20 or 30 percent, Ramsey said.

In the fiscal year of 2020-21, July of 2020 was the worst month. Betting peaked in January at $615 million in handle the only month in which the total amount bet topped $600 million, according to reports from the Gaming Control Board.

One-third of the total handle $108.5 million in bets was placed by bettors through the Valley Forge Casino. And 98 percent of the handle at Valley Forge came from online bets just under $107 million, according to the Gaming Control Board data.

Statewide, 90 percent of the sports betting in July was placed online, according to the Gaming Control Board.

Nationally, mobile betting accounts for more than 80 percent of sports betting revenue, much of it occurring live as games are underway.

The NFL, which along with other professional leagues once strenuously fought against the legalization of sports betting, now allows seven sports betting companies to advertise during games, and teams in various sports have inked deals with companies to become official sports betting partners, including deals announced Wednesday involving the Baltimore Ravens and the New York Jets.

Media companies continue to tie the knot with gambling firms, seeking synergies among gamblers who want to bet but also read and watch as much as they can about sports. Sports Illustrated has launched a sportsbook and the Wall Street Journal reports that ESPN is considering a $3 billion deal to license its brand to one or more sportsbooks. Even sports merchandise retailer Fanatics plans to launch a sports betting app.

The ever-increasing competition is making it more difficult to win or hold onto a piece of the pie for sports betting companies.

"Market share will be harder and harder to retain over time as more entrants come in," said Matt Prevost, chief revenue officer for BetMGM. "But more states have come online in the last 12 months and are (new) markets for us."

"Competition is fierce," added Johnny Avello, head of the sportsbook for DraftKings. "There's a lot of players in the game now."

Said David Schwartz, a gambling historian with UNLV: "The cost of entry is going up as it becomes harder to displaced established entities, which have first-mover advantage as well as the benefits of strategic partnerships. But, if the product is good, bettors will respond to it."

John Finnerty reports from the Harrisburg Bureau for The Meadville Tribune and other Pennsylvania newspapers owned by CNHI. Email him at jfinnerty@cnhi.com and follow him on Twitter @cnhipa.

We are making critical coverage of the coronavirus available for free. Please consider subscribing so we can continue to bring you the latest news and information on this developing story.

See the rest here:

Start of football seasons expected to boost state's sports betting - Meadville Tribune

What sets the betting industry apart from its rivals is its ability to embrace technology. When you register with an operator, you instantly get access to a wide range of services that enhance the user experience. However, you need to understand how to use the software if youre going to exploit it for your gain.

Your goal is to be successful more often than not, which is harder than it sounds. Sports are gifts and curses because part of what makes them entertaining is unpredictability. As a result, anything can happen when you place a wager. Leveraging tech is the key, and heres how to do it to improve your sports betting game.

Download Mobile Applications

Apps are everywhere nowadays. If youre wondering how it will change your sports betting experience, the reality is that most of the elements will stay the same. For example, the apps promos and odds arent different from the websites. But mobile applications are revolutionary because they make sportsbooks available 24-7.

Apps are intuitive and easy to navigate, for starters. Without accessibility, you cant place wagers at a moments notice. Secondly, the best betting apps include the latest stats and information, such as form or injuries to star players. Thirdly, bets can be confirmed with a click of a button. These features combine to make sure you have everything you need to take advantage of markets from anywhere in the world at any time.

Use Cryptos Where Possible

Placing a bet is the foundation of success. If you cant do this most straightforward of activities, you dont have a sports betting strategy to speak of. Although this sounds obvious, lots of people struggle to find legal alternatives because sports wagering is still unlawful in some countries and states.

This is where cryptocurrencies are helpful, since they are anonymous. By signing up to an offshore platform, which is usually allowed anyway, you can open an account and remain off the grid. Dont be worried by offshore operators as several of them are major brands, such as the main European sports betting providers.

Make In-Play Bets

When you think about it, selecting a host of teams before you know how they will play is illogical. A quality side may have an off day and be two goals or 20 points down within ten minutes. Your wager is pretty much finished if this happens, which is why in-play sportsbooks are essential.

In-play markets show you the odds based on the situation. So, the game may be deadlocked and the odds the same. Alternatively, the home team may be one down, making you rethink your initial theory. Logging into your account and streaming the game live is another way to keep abreast of potential bets and react accordingly.

Research Bonuses

Bonuses, particularly welcome offers for new customers, are integral to the industry because its very competitive. In 2020, the US sports betting market generated revenues above $1 billion, with the figure due to multiply by six by 2023. Without promos, operators cant stand out from the crowd.

Indeed, the best way to supercharge your sports betting game may be to use someone elses money! However, you should be aware that most bonuses and promotions come with small print which restricts how and when you can withdraw any earnings accrued from them.

Its a good idea to always watch out for the latest developments, as the next piece of tech to hit the market may transform the way you place sports wagers.

Visit link:

How to Use Technology to Improve Your Sports Betting Game - American Football International

Robert Linnehan | 2 days ago

In a small, but necessary, step towards the Maryland sports betting launch, the Maryland Lottery and Gaming Control Commission (MLGCC) today opened its eLicensing platform to the 17 entities that were named in Marylands sports wagering law.

These 17 entities will be able to submit applications on the online platform for necessary background checks. If approved by the MLGCC, the entities can receive interim sports betting licenses and then being taking in-person sports bets.

We anticipate that some of the 17 specified locations may be able to start taking sports wagers late this fall or early this winter, in time for the NFL playoffs, said MLGCC Director John Martin in a release. Were actively working to expedite the process.

The MLGCC may issue interim licenses to brick-and-mortar applicants that hold gaming or sports wagering licenses from states where the background investigation standards are equivalent to those in Maryland. If the entities are found to have disqualifying factors during the MLGCCs background checks, the interim licenses can be revoked.

The MLGCC will begin investigations of the 17 named entities once they have submitted their applications via the eLicensing portal.

Here are the 17 entities listed in the Maryland sports betting bill:

Casino Licenses

Professional Sports Stadium Licenses

Racetrack Licenses

OTB Locations

Commercial Bingo Halls (with at least 200 machines)

While retail sports betting is being worked out, the application and allocation process for online sports betting licenses has not yet been determined.

Without a set application procedure from the Sports Wagering Application Review Committee (SWARC) its hard to set a timeline on when licenses will be awarded, an MLGCC representative previously told Saturday Tradition.

The role of SWARC is to establish the license application process, award all sports wagering licenses, establish special considerations for Class B and online sports betting licenses and ensure the allocation of licenses are spread equitably across the state. SWARC has yet to set a timeline or process for sportsbook operators to apply for online sports betting licenses.

An FAQ section on the MLGCA website sheds some light on the potential online sports betting license process, as the agency said the issuance of licenses (including online licenses) for entities not listed in the original sports bill may take between 12 to 24 months:

Some of the entities named in the Sports Wagering Law may have their brick-and-mortar sports wagering operations up and running during the fall of 2021. For a business that is not named in the Sports Wagering Law, the review by SWARC and a licensing background investigation could take between 12 and 24 months from May 2021.

Continued here:

Maryland in-person sports betting may launch in late fall, early winter - Saturday Tradition