The boom in legal U.S. sportsbooks will get special attention at the fourth international Betting On Sports conference in September in London.
The gathering, the world’s leading sports-betting industry event, will include a daylong “USA in Focus” track, with international experts examining issues such as how American bettors differ from their counterparts in established overseas markets, whether regulations favor U.S. operators and sportsbooks’ use of “official” data from sports leagues.
The battle between leagues and sportsbook operators over the cost of data is being fought in many countries, said Sue Schneider, vice president of growth and strategy/Americas for SBC (Sports Betting Community).
For example, Australia has been grappling with the issue since the mid-90s, she said.
Established sports-betting markets “have interesting things to offer as to what works, what doesn’t, what kind of hidden minefields there might be as you try to navigate those waters,” said Schneider, who also is editor-in-chief of Gaming Law Review, the official legal publication of the International Masters of Gaming Law.
SBC Events organizes the London Betting On Sports conference, which is expected to draw 3,500 attendees, 120 exhibitors and 160 operators from Sept. 17-20. SBC Events also presented the first Betting On Sports America conference in April in New Jersey.
H2 Gambling Capital has predicted that betting in legal U.S. sportsbooks will total $4.9 billion by 2023, surpassing England, the world’s current leader in sports wagering.
For American operators, “it’s a question of not reinventing the wheel,” Schneider said.
“The American market is different. There’s going to have to be a lot of tweaking to Americanize products and marketing. Overall, a lot of the base information about how sports betting is run is something that can be used and learned from other parts of the world.”
One distinction for the U.S. market is the number of bettors new to the world of sports wagering.
“Our bettors are going to be less sophisticated because it’s relatively new for them to do some of this kind of stuff,” Schneider said. “Some of the more advanced and evolved software may not be that useful here.” Operators want a system that novice bettors can understand easily.
“How do you make it so it’s clear and easy to use?” Schneider said. “That’s a big (question).”
Schneider said the “USA in Focus” track, one of eight offered during the conference, also will help overseas operators understand the “vagaries” of the American market as more states come on board.
She added that court cases surrounding the 1961 Wire Act and the uncertainty of new federal legislation regarding online or sports betting muddy the waters for operators in the United States. A judge ruled against the U.S. Justice Department this year in a New Hampshire Lottery Commission lawsuit, saying the department’s reinterpretation of the Wire Act threatened online lottery sales. However, the department is considering an appeal.
Online betting and in-game betting are considered necessary for America’s sportsbooks to reach their revenue potential. New Jersey sports bettors wagered a total of $318.9 million in May – beating Nevada’s handle – and 82.6 percent of that came from online, according to state regulators.
Schneider said U.S. operators must undertake a “big education effort” to overcome myths and fears about online gaming, such as perceived risks of increased underage gambling and the possibility of players placing bets from outside the jurisdiction. Geolocation tracking and customer verification methods have virtually eliminated those concerns in New Jersey and in European countries that have long experience with iGaming.
That education is more difficult in the United States because gaming is regulated on a state-by-state basis and the cast of lawmakers changes from one jurisdiction to the next.
In addition to the “US in Focus” track, the Betting On Sports conference will have multiple discussions on these topics:
- Sport in Focus: This track looks at the relationship that betting has with the major sports, such as horseracing, football, esports, cricket, golf, tennis and MMA.
- European Markets: A more intimate setting for the discussion of developments in some of the main betting jurisdictions and the opportunities and threats that each of those markst are facing in the immediate future.
- 2020 Vision – The Future in Focus: Invites leadership perspectives on some of the major issues facing the industry today. The sessions include a CEO panel, a discussion on funding of sport and a panel full of Hall of Fame members.
- Emerging Markets: Looking at the opportunities opening up in markets in Europe and beyond, such as India, Eastern Europe and LATAM.
- Technology in Focus: Covering key aspects of how technology is influencing the future of sports betting with AI, blockchain, cybersecurity, UX, live betting and cash out features.
- Regulation in Focus: Given the stronger line that regulators are taking on all aspects of the gambling industry, this track tackles the questions such as what effect are the new regulations that are being placed on established markets having on how companies do business?
SBC Events is also running three other events in conjunction with Betting On Sports:
- The second CasinoBeats Summit, on Sept. 18 and 19, will will bring together opertors, suppliers and a range of sector visionaries to consider the challenges facing the online casino sector. 75 speakers will offer industry insight, knowledge sharing and networking opportunities at the heart of the world’s largest regulated online gaming market.
- The Digital Marketing Forum on Sept. 18 will focus on customer acquisition and marketing techniques in iGaming. Key topics include understanding the digital culture of millennials, identifying opportunities for affiliates, and social responsibility in gaming. The forum is produced in association with AffiliateINSIDER,
- The second edition of Payment Expert Forum on Sept. 18 will examine topics such as new financial technologies, increased emphasis on age verification, AML, payments stacks, cryptocurrencies and the potential risks of an open-data economy. The forum is run alongside PaymentExpert.com.
The official closing party Sept. 19 at the Natural History Museum will include induction of new members into the Sports Betting Hall of Fame. Inductees so far from the Betting on Sports America event included: former New Jersey Gov. Chris Christie and Dennis Drazin, operator of Monmouth Park in New Jersey, for their roles in the legal battle to overturn the U.S. law banning sports betting outside Nevada; and Art Manteris, vice president of race and sports book operations for Station Casinos.
For more information on Betting on Sports or any of the SBC events, please go to www.sbcevents.com
