Before sports gambling was legalized two years ago in the US, bettors had to travel to Nevada, use an offshore site, or perhaps pay a visit to the neighborhood bookmaker to wager on their favorite teams.
Since 2018 24 states, including the District of Columbia, have legalized sports betting, The total handle in the US from May 2018 through November 20, 2020, was just over $30.0 billion, with taxable revenues of $289.9 million.
“I’m one of those in the camp that firmly believes the demand has always been there, for generations,” says Kevin Smith, marketing director for SBC Gaming, which will host Betting on Sports in America (BOSA) December 1 and 2.
Billed as the “largest dedicated sports betting event in North America”, the virtual event will feature a variety of discussions and seminars ranging from Sports Betting 101 to coverage of regulatory issues and how to deal with problem gambling.
CEOs from prestigious sports betting companies also will be featured at BOSA, including Joe Asher from William Hill USA; Bill Hornbuckle from BetMGM; Derek Stevens from Circa Sports; and John Levy from The Score.
“All four of those guys have disparate backgrounds and histories, but they’re in the forefront of leading companies that are really forging the road for sports betting in the country,” Smith says. “That fact that we have all four of them, along with over 120 other top-level executives and companies, is what separates us from other conferences.”
The gambling industry suffered because of the COVID-19 pandemic and closures of many brick-and-mortar casinos. But states where igaming and online sports betting are legal were able to mitigate their losses. Smith thinks this portends well for the expansion of sports betting, and BOSA will feature sessions on regulatory issues each day.
“The silver lining (of the pandemic) for the industry is that states, regulators and legislators, have more of an appetite to regulate and pass sports betting and igaming legislation,” Smith says, noting that Maryland, Louisiana, and South Dakota approved sports betting in the November elections. “States that have passed sports betting will probably look at igaming, and states that haven’t passed it yet will look to include igaming in sports legislation they look to enact.”
Sports gambling has become increasingly popular in part because of its portability. Bettors don’t have to be at brick-mortar casinos to wager on the Super Bowl, World Series, or any other sporting event, as wagers can be placed from smart phones, tablets, or laptops.
But Smith says that savvy casino operators who invest in sportsbooks may be able to transition sports bettors to other parts of gaming experiences.
“There’s no arguing that sports betting is a relatively small percentage of (gaming revenue),” Smith says. “If an operator is lucky it’s seven or eight percent. Nobody is shouting that sports betting is going to save the casino industry. But if you look at what Circa (Resort & Casino in Las Vegas) is and how they’re embracing the sports betting perspective into their property, I think that’s telling.”
Sports betting is also being helped through mainstream media coverage. Both ESPN (the Daily Wager) and Fox Sports (Fox Bet Live) broadcast shows devoted to sports gambling, and veteran broadcaster Brent Musberger is a host on VSiN, an online website based in Las Vegas devoted to sports betting.
“When more legal and reputable opportunities enter the marketplace, all that does is lift the validity of the industry as a whole,” Smith says. “ … As you see more things like ESPN integrated into general broadcasts in all the networks – Fox, ABC, NBC, they’ve all got relationships with sports betting brands – it will look much more like what you see in the European markets where nobody bats an eye at it.”
