Sports Betting Policy Summit

The U.S. Sports Betting Policy Summit was held yesterday in Washington D.C.  The magnitude of this event was so powerful the fact that the weather was increment did not diminish attendance. Topics covered included legislation, integrity and innovation. The event was put together by Spectrum Gaming Group and SportsRadar. Some of the notable panelist included Art Manteris,re known for sports wagering and Dan Spillane from the NBA league office. Naima Stevenson represented the NCAA and Jeff Stonebreaker presented the view from MLS.

  

Ted Leonsis on the right

The fireside conversation with Ted Leonsis; owner of the Washington Capitals and the Wizards was the highlight of the morning. Leonsis struck me as an owner that understand that people with expertise should be included with this sports betting and gaming phenomenon. He was able to engage the room with an understanding of common sense business practices that involve the use of analytics and mobile devices. It was a pleasure to have a private exchange with him.

While many different perspectives of what sports betting can be and how it should be regulated were proposed, I came away from the summit with two keys.

The first key is to know the landscape. The Nevada model for sports betting should be emulated but modified to a regional or local approach. The second is to make a conversion to a strong mobile application of your retail product for sport wagering. I would be happy to share some of my other thoughts about sports betting and how it can generate revenue in a start up situation. Reach out if you have inquiries and follow me on social media.

I want to acknowledge Spectrum Gaming for inviting me. They are knowledgeable and equipped to handle the business logistics of your gaming needs. SportsRadar also should be recognized for positioning themselves thru partnerships and association that can navigate your business into sports betting.

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The Marriage of Sports and Gaming

In the past week, two news items piqued my interest regarding the legalization of a national sports betting platform. One was a statement issued by Adam Silver, Commissioner of the +NBA. He was recently being interviewed in +ESPN, The Magazine and stated that he was engaged in discussions with other owners about the possibility of allowing wagering on NFL,MLB and NHL games. Here is a quote from that interview.

 

Silver says, "I have talked to the commissioners in the other leagues about it, and I leave it to them to make any public statements they want to make on it. I will say that certainly all of them ... have assigned people in their organizations to study the issue intensively."

 

 

This is not the 1st time Silver has mention his interest in expanding the reach of the game into casinos and betting establishments. This is a sign that he is definitely serious about what his agenda to transition sports to fit the new wave of fans. A national platform will be easier to monitor and regulate. Traditional gambling sites with brand names could introduce a product  that is socially acceptable but largely illegal. It will also provide a revenue that is currently not being tax to help fund programs that we are in need of.
 

 

 

The second statement was issued by Senator John McCain, from the State of Arizona. Sen. McCain (R-Ariz.), speaking on "Capital Games" with ESPN's Andy Katz and ABC's Rick Klein, said Congress needs to hold hearings to discuss legalizing sports betting. The theme of the show is to offer the perspectives of policy makers on issues that relate to the world of sports

"We need a debate in Congress," McCain said. "We need to have a talk with the American people, and we need to probably have hearings in Congress on the whole issue so we can build consensus." giving his opinion on sports betting. Licensed sports betting, particularly on devices showing games, is the mechanism that will eventually allow all professional sports to profit.

Mobile and Live Betting Software

 

The timing of a Congress that is controlled by the party of a former presidential candidate gives the possibility of this getting past the discussion stage more of a chance than getting an interview from Marshawn Lynch. The probability of something being done this year is significantly lower than the likelihood of +50 Shades of Grey being the number 1 box office movie. However, several states have already introduced bills that will allow sport betting. They include New Jersey, New York, Indiana, South Carolina and soon, Minnesota. 

 

I have two suggestions that give the proposed marriage of sports and gaming consummation. I would like someone from the gaming world with a national profile to embrace the position of sports and gaming as being feasible. The state of Nevada has a blueprint that can be emulated nationwide. I would encourage the commissioners of the leagues to have a summit sometime within the next 6 weeks to give this concept traction. The NFL and MLB are not in season so the time is ideal for them. Include the MLS too. A tremendous large and diverse fan base with international proportions. Have the summit in  Las Vegas, Atlantic City or New York City. The logistics being the association with gaming and the location of the league offices.  I 'll revisit the status of this in a future post.

Happy Valentine's Day

                                                          
 

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