Although progress has been made with regards to the gender balance in betting and gaming, along with other industries, hurdles for women still remain.
Discussing the gender gap with SBC’s Global Relationship Director Kelly Kehn on the latest edition of the SBC Leaders Podcast, Luaren Seiler, Associate Vice President of Investor Relations and Development at Rush Street Interactive (RSI), highlighted a study showing that men outnumber women in senior CEO positions by 17/1.
“The challenges are still out there,” Seiler continued. “We wish they weren’t but they are there everyday in front of our faces. The gender gap, especially in male dominated industries, from an employment and payment perspective in the US, is a real thing.”
Despite this, Kehn observed that Seiler herself is an ideal role model for women in the gambling industry, having entered the sector from another male dominated space – in her case, firefighting – and establishing herself as a leading figure at a major firm.
Seiler moved on to offer her predictions for future development of the US wagering sector, which is attracting interest not just domestically but also from companies in Europe such as Kambi, Better Collective and bet365, among others.
“You can’t deny the notable revenue stream that comes from online gaming and online sports betting and the states need the money in their coffers right now,” the Associate VP stated.
“You’ve got federal COVID support starting to roll off to the states, so I think that will be a big thing as more and more states start to reevaluate their budgets and their needs and reconsider legalising online sports betting and importantly icasino as I do think a good amount of the tax revenue does come from that side of the business in the states where it is legal.”
With regards to investment, Seiler further observed that investors are now exhibiting a heavier focus on “profitability, sustainability and operational prowess” against straight revenue generation.
“Now that that mentality has shifted from a wall street perspective, I think we are going to see that trickle down into the actual day to day operations of different operators, pulling back on that exuberant marketing and promotional spend that’s been out there,” she added.
Understandably, Seiler also saw an emphasis on technology as a continuing trend, whilst also adding that she sees a ‘shrinking of the competitive set up’ due to high player numbers.
Lastly, the Associate VP shared insights into RSI’s future ambitions, coming at a time when the firm – along with three other operators – is set to enter the New York sports betting market. However, although primarily a US-focused business the company is also active in Colombia via an agreement with Pariplay.
“From an internal perspective, we look forward to continuing our expansion as more markets regulate in the US and around the world,” Seiler stated. “We’ve got exposure in Latin America through Colombia, and we’re just going to keep trucking.”