Sports Business and Wagering this Week

This is a new feature that will post every Friday. Starting today, we will give you the latest news about Sports Business and Wagering that occurred in that calendar 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.

 
This week DC approved Sports Betting. While this market will be lucrative the restrictions on the use of mobile devices is a detrimental to everyone. This aspect of the legislation should be revisited.

Watch for any news about Sports Betting out of New York. With the amount of professional teams and population that have loyalty to them, this market will become the largest on the east coast. Poker play would get a huge shot in the arm as well.

Each of the increasing popular Sports Betting 101 Series will be part of this so you can have each post together. Since we add a new post to that series every week you will always see the previous 3 with this feature. We encourage you to follow and stay relevant.  

Things the Bettor needs to know
Why the bettor should wager with a legal operator
The Las Vegas Expierience

Happy Holidays!

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Sports Betting 101: The Las Vegas Experience

After decades of having a monopoly on legal Sports Betting in the United States, Nevada is now sharing it's spotlight with the rest of the nation. There are several states that are currently offering sports betting with legislation in place for at least 20 more within the next 2 years. So if you are about to make your 1st bet or if you have made a wager on a sporting event outside of Nevada within the past 5 months,we want to give you a glimpse of what the Las Vegas experience.

Sports books in Las Vegas have a synergy that flows thru the hotel. The sports book is as much a staple of a property as the restaurants and the slots machines. But a great sports book experience will compare to being at Xfinity Live on Eagles game day. People will drive 50 to 100 miles to be a part of it. It will be excitement. The crowd will engage with each other and strike up conversation during breaks in the action. Those conversations will range from "who do you like today to where are you from."

The bets on the boards will cover all the major sporting events for that day or week. The busiest days are the weekends. The best offering for wagers is on Monday. Monday has MNF or Monday Night Football. It is the get back night. You are trying to get back the money you lost earlier that day or weekend.Many props bets that would not be available during the week will be offered. Be selective!

The sports books in Vegas range from the stadium style seating you find at casinos that feature blackjack,roulette and baccarat to plush lounge chairs and couches that provide special amenities. We will expand on which of these are trending as we continue this series. 

If any organization wants to innovate your Sports Betting operation from your competitors then watch what we post in 2019.

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                                   Check out the app, Smart Responsible Gaming at thegamingguym.com/

Sports Betting 101: Why the bettor should wager with a license operator

Now that you can wager legally on sports in several states, the public has the option to bet with a casino,racetrack or daily fantasy site. The daily fantasy sites that have a good product are FanDuel and DraftKings.

No longer do you have to bet with the illegal offshore sites that may not pay you or could shut down leaving you in a difficult situation.

You can now select between the local neighborhood bookie and the regional sports betting platform.That transition will appear difficult to some of you that have a established long term relationship with a bookmaker. I know! He lets you bet on credit. You can pay when you get your check. But Ted Leonsis, owner of the Washington Capitals and head of  Monumental Sports and Entertainment , uses a great analogy. What if he gets sick and passes away. He can't pay you.

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So going legal is the way to go. You are assured of getting paid. You can place your bet in a safe environment. You can bet on things that the local bookie will not take action on. Don't take chances. Just pick winners.

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                       Check out the app, Smart Responsible Gaming at thegamingguym.com/

Sports Betting 101: Things the bettor needs to know

Sports Betting in Vegas

When Sports betting comes to Pennsylvania, there are several things that bettors should be aware of.Sports betting is new to this area so many of the operators will have a staff of ticket writers that is relatively inexperience. This holds true for the person making the wager. The bettors should be prepared to bet early and check their ticket prior to leaving the window, 

The bettors should familiarize themselves with the wager they plan to make. The wager should start with the bettor saying what type of bet they want, the team or number that they want to bet on and the amount. 

In the coming days, we will share the terminology that will make your sports betting experience fluid. Our expertise is not just relative to the bettors. Follow us if you are looking for innovation in your sports wagering and management operation.

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                       Check out the app, Smart Responsible Gaming at thegamingguym.com/

Why is Sports Betting exploding?

Donovan Mitchell exploding for a dunk!

Sports Betting is exploding in several new jurisdictions. From the player perspective, the ability to

wager legally outside of Nevada is long overdue. So casinos and racetracks are merely giving the people what they want. States were anticipating a repeal of PASPA by the Supreme Court. That is why so many put laws in place so pundits like myself can share content and opinions. States all over the US also saw the millions of dollars that Americans will wager on sports.

Las Vegas Sports Betting is coming to a state near you!

So the race is on! What state will be the leader?  Which operator offers the best odds?  FanDuel and DraftKings  are in a prime position because of their expertise with Fantasy Sports. Will this carry over to Sports betting? With so many options to choose from, the betting public is in the driver's seat.

Operators take heed! Location is important. But that alone will not be enough. But enough for now.

Get the answers to the above questions by following me on social media,

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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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                   Check out our app, Smart Responsible Gaming at thegamingguym.com/

Sports Betting and Esports at G2E

The G2E is the biggest gaming conference in the world with participation from every continent. What made this year stand out more than any other in the past 5 years? We are glad you asked. We have two reasons why this year was a winner.

Esports is taking the world by storm and the gaming industry is starting to take notice. There were multiple seminars devoted to esports this year. 3 years ago there were none. If we work for Wendy Williams we would be asking can you say Hot Topics?
Sports Betting is exploding into casinos, racetracks and mobile devices near you. Where else can you see a panel discussion headed by ESPN anchor Scott Van Pelt. This year there were 4 tracks devoted to Sports Betting. We are setting the over /under at 10 for next year's G2E.
Is Sports Betting coming to a casino or racetrack near you? Follow me and find out.