During this year’s SBC North America Summit, Fubo Gaming CEO, Scott Butera, discussed some of the elements that separates North American sports betting from certain European countries.
He shared: “North American betting is legal just recently, but it has also been around for quite some time. People have been betting on sports since the turn of the century, and even before that, so it’s always been quite popular.
“What’s a little different from North American sports to Europe and other areas, is that it’s really kind of an entertainment experience as well. Really, it’s how do you incorporate wagering into sporting events to create a holistic experience. It’s a tool to stimulate an interactive sporting experience – how can I be part of the action, or a stake in the actual contest.”
A part of the Fubo Gaming brand, FuboTV is one of the leading sports streaming channels in the US.
Helping in the production of FuboTV and creating an immersive sporting experience for US bettors, Butera was quizzed on where he sees sports wagering heading to and what a future sportsbook may look like in America.
“It’s really where the technology takes us. In the old days you’d go to a window and bet,” he said.
“Now you can bet on your phone, you can watch a game and bet on a game on your phone. But again, it’s really about using sports betting as a part of this entertainment experience.”
Boasting vast experience in banking which then translated into running casino operations, Butera has a wealth of knowledge in the field. He reflected on some of the driving forces that helped get legal sports betting off the ground in the US.
He explained: “You have a confluence of three things. Historically there was a strong sentiment against wagering in the country, the leagues didn’t like it and thought it would lead to integrity issues. All these parties that were somewhat against it started to see some value in it.
“They knew it was happening in the black and grey market so maybe it was ‘Hey, it’s happening anyway, maybe it’s better we regulate it, have responsible gaming around it in ways we can protect people around it.
“But you also saw the youth of America get away from sports a little bit. The next generation don’t just want to sit there and watch a game for three hours. The league said this thing that might be a bad thing (wagering), might actually drive engagement, particularly with these younger generations.
“You had states that wanted money, you had leagues that wanted fan engagement, and you had a community that said if it’s out there anyway – we might as well regulate it.”