Sports and Wagering Business This Week

This will keep you current with the industry. These post will include trends about the sports betting market and information about what state is planning to offer it next. This will be a winning situation for a sophisticated operator and his constituents.

New York approved sports betting and started accepting wagers this week. The sites include Rivers Casino Schenectady and Tioga Downs. Resorts World Catskills and Del Lago will have the capacity to take bets and are expected to announce their plans soon. All wagers must be made in person. There is no mobile sport betting component at this time. They are prohibited from taking bets on New York State collegiate sports teams and any college sports events held within the state.

Washington DC is still finalizing it's sports betting regulations. Once they are complete, expect retailers to apply for Class B licenses that will allow kiosks and sports betting windows in bars and event venues that serve food and alcoholic beverages. Once the application process starts the retailers will be highlighted by name and location. The stipulation in DC is Class B license holder can not be within the proximity of  two blocks from a Class A holder.

New Hampshire legalized sports betting last week, joining Rhode Island as the second state in the New England region to add sports bets to the gaming menu. The residents of New Hampshire can not bet on New Hampshire based teams. They do have a provision for mobile betting.

I can not stress enough that the future of sports betting is in the mobile and tablet side of the business. Unless you have an outstanding venue there is no reason to come place a bet with you that beats the speed of the mobile app. If you are in a jurisdiction where mobile is not an option then innovation is critical to your success.

If you want me in real time you can follow me on Twitter, Facebook, Pinterest and Instagram for updates! You can also see my post on Bettors Insider , the Delaware Valley's top site for sports betting and gambling.

Are you in a state that is considering Sports Betting?

If you are in a state that is contemplating enacting Sports Betting, I would encourage you to make a prudent decision based on facts and not hyperbole.I will share 3 points to consider in this post.

Are you prepared to work off a small profit margin that is not guarantee a projected hold percentage similar to a slot machine or casino table game?

What is your state tax rate proposal on Sports Betting? 

Is mobile wagering part of your Sports Betting strategy?

If you answered yes to question 1 and 3 then I would look at sports betting as a consideration sooner than later. This urgently increases if no state near you has it. Washington DC acted quickly to exercise a competitive advantage over Virginia and Maryland. That move should pay dividends this year. 

The second question about the tax rate should be open to a fair agreement with the operators and the state. The definition of fair is marked by impartiality and honesty; free from self interest or favoritism. So if the propose tax rate exceeds 20% making a sustainable profit is achievable based on demographics and handle. A tax rate higher than 25% is not in the operators best interest long term. Read the definition of fair again. High taxes limit reinvestment opportunities. State legislatures and operators should work together as partners to insure success.

This fall I will continue visiting colleges and universities in the Mid Atlantic Region to promote the opportunities that gaming and sports betting can provide. So far I have spoken to students at Temple University and St. Joseph University. There is a fee associated with the speaking engagement. This is to cover the cost of travel and accommodations.  Check out the video to get a glimpse of what the possibilities that await you in Washington DC and New York City.

                              Mims Video

Follow me here for my blog posts. You can read my articles on Bettors Insider about casino,esports sports betting and entertainment.

If you want me in real time you can follow me on Twitter, Facebook, Pinterest and Instagram for updates!

Friends of Gaming Guy M

This is the video that I wanted to share with you. This is part of my new marketing and promotion strategy on Instagram. I am targeting the age demographic of 22-65. The cities include in the strategy include Philadelphia, Atlantic City, Washington DC, New York and Las Vegas.

                              Mims Video

Follow me here for my blog posts. You can read my articles on Bettors Insider about casino,esports and sports betting.

If you want me in real time you can follow me on Twitter, Facebook, Pinterest and Instagram for updates!