At Betting on Sports America Digital a panel gathered to discuss how states are attempting to reduce some of the advantages held by offshore operators.
What is it?
The regulated market has a goal of migrating players from offshore to their sites. But, what will it take to do that? Hear from both consumers, operators and regulators on how to remain competitive.
The panel looks at some of the members of newer legalised states to sport betting and how they have learnt from other states when putting in place regulations to combat offshore competition.
The panelists analyse some legislation which is advantageous to combatting offshore such as the legal betting limits on sports betting and the availability of betting propositions in different bets and how the legislators can compete and cater to a more sophisticated low margin, high frequency exchange type model.
Who is it?
Mark Balestra, US Special Counsel, Segev LLP
Bill Krackomberger, Professional Gambler
Matt Heap, Chief – Sports Betting, Colorado Department of Revenue
Stephen A. Miller, Co-Chair White Collar Defense & investigations, Cozen O’Connor
What is being said?
Heap: “One of the things we heard that was a little bit of a problem in the other jurisdictions was ‘we can’t get our events and our bets approved quickly enough to get them out there for the players to want to participate’.
“We made a conscientious effort to really put a lot of manpower into addressing that and I think that goes to Bill’s comment of he’s talking about in Vegas you don’t have as many options.
“I think the advent of the internet operators in Colorado which there are currently 16, one more getting ready to go live for the state the size of our population, that is a lot of operators out there.
“That is a lot of choice for customers/ consumers for bettors and it gives them a lot of different options. It gives them different sign up promotions and odds boosts and things of that nature that really has drawn a lot of people into the market and presumably from other places where they were betting either illicitly or offshore, however you want to capture it.
“I would agree on the fact that the more states that legalise and the more sensible regulations that accompany that legalisation, the more competition comes into the states that is only benefiting everybody.”
Why should I watch it?
To explore the different methods states are using to combat the market advantage that offshore bettors can have.
Where can I see more?
Source: SBC YouTube Channel