U.S. casinos have much to learn from sports book and online companies based abroad, says a top gaming lobbyist and lawyer.
Likewise, overseas operators have much to learn about the American gaming market and political system, added William J. Pascrell III, a lobbyist with Princeton Public Affairs Group, based in Trenton, N.J., who has worked on gaming issues in several states.
“In America, the gaming industry understands American politics very well,” Pascrell told CDC Gaming. “But they can’t hold a candle, for the most part, (to) the (online and sports-betting) experience and robustness of content that their brothers and sisters abroad have.”
Pascrell is chairperson for the All American Sports Betting Summit, which will take place June 18 and 19 at Monmouth Park in New Jersey, where, fittingly, the state’s first legal sports bets were placed on June 14, 2018. New Jersey Gov. Phil Murphy, who made those bets ($20 on Germany to win the World Cup and another $20 on the New Jersey Devils to win the 2019 Stanley Cup), is among the more than 30 speakers scheduled for the summit.
Panel topics during the two-day program include the development of consistent state-by-state sports-betting regulations, player protection and acquisition methods, advice about entering the U.S. market, and how leagues, governments, and broadcasters view sports betting.
In conjunction with the summit, the Sigma Roadshow for operators and suppliers will be June 17 at Sheraton Eatonton Hotel, and the first annual American Gambling Awards, spotlighting luminaries in the U.S. online gambling industry, will be presented June 18 at a Monmouth Park party hosted by fantasy sports analyst Matthew Berry. The awards are sponsored by Gambling.com.
The Sports Betting Summit is organized by Eventus International, a global events and exhibitions company based in South Africa and Hong Kong that specializes in gaming conferences.
Yudi Soetjiptadi, managing director of Eventus, said in an email interview that the summit was “strategically curated” to provide information across all categories of the U.S. sports betting industry.
For years, Nevada was the only state with legal sports betting. That ended last year when New Jersey successfully challenged PASPA, the federal law forbidding other states from regulating sports books. So far, 11 states and the District of Columbia have approved sports gambling.
Both Pascrell and Soetjiptadi predicted that sports betting will be legalized in more than half the states within five years. Pascrell said that, although the American market is in its nascent stages, the legislation creating it carries a “very powerful message” of consumer protection, responsible gaming, and suitability of all operators and suppliers.
“The (New Jersey) regulatory model is far superior to any other jurisdiction in the world,” said Pascrell, who has been an adviser to several prominent Democrats, including 2004 presidential candidate John Kerry, and various U.S. senators, congressmen, and governors from New Jersey. Legalized sports betting has been a boon to Atlantic City casinos, he said, increasing revenue and attracting new customers.
About 80 percent of the sports bets placed in the state are made online, he noted, so “although retail (betting) continues to be strong, it’s less than a quarter of the market.” He said the New Jersey has had no issues with cybersecurity, age verification, or ensuring that bettors are physically in the state when they make a wager.
A study released this year by the American Gaming Association showed that 39 percent of adult Americans are least interested in sports betting.
Pascrell said the industry can grow faster if suppliers and operators speak with one voice, not only about the benefits of sports and online betting, but also on issues such as affiliate licensing, integrity fees, and payment processing. Lawmakers and regulators sometimes put off any action when faced with opposing opinions from within a trade group.
“It is very important for the (casino) industry to come together to collaborate and find how to replicate common interests and bring them to the regulators and legislators,” he said. “You are more likely to (add) more states in an accelerated fashion if you have an organized effort.”
In addition to the Sports Betting Summit, Eventus organizes the Scandinavian Gaming Show, Cyprus Gaming Show, the BiG (Betting and iGaming) Africa Supershow, and SPiCE (Strategic Platform for iGaming Conference and Exhibition) India.
Two Eventus shows in September, one in Dubai and one in Malta, will focus on artificial intelligence. The Dubai conference will focus specifically on AI in gaming.
