Evolving Attitudes Help Reshape Online Gambling Regulations
The regulatory framework for sports betting is constantly evolving and expanding. In the recent election cycle, three states had measures on the ballot to legalize sports betting: Maryland, Louisiana and South Dakota. All voted yes. Overall, there are 19 states as well as Washington D.C., where sports betting services are currently operational, according to the American Gaming Association (AGC). Six other states, including the three that passed the measure in last month’s election, have authorized legal sports betting but have yet to launch it. Besides the election results, another crucial factor for the growth of the online betting market is attributed to the usage of smartphones, which have easy user interfaces and can be used at anytime and anywhere. Bragg Gaming Group Inc. (OTC: BRGGF) (TSX-V: BRAG), DraftKings Inc. (NASDAQ: DKNG), International Game Technology PLC (NYSE: IGT), Scientific Games Corporation (NASDAQ: SGMS), MGM Resorts International (NYSE: MGM)
The shift to a more favorable attitude towards online gambling services is visible across the board. According to data published AGC, nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. At the local level, 69% say that the industry behaves responsibly in the communities. “Voters are also aware of the importance that gaming tax money plays in funding vital public services, as 76 percent of voters believe that the industry’s tax payments to state and local governments will become even more important in the future due to COVID-related budget shortfalls,” the report indicates.
Bragg Gaming Group Inc. (OTCQX: BRGGF) (TSX-V: BRAG) announced last week that ORYX Gaming, a Bragg Gaming Group company, “will be sponsoring this year’s virtual edition of the prestigious World Gaming Executive Summit (WGES).
Hosted on December 8-9th, the digital edition of one of Europe’s most exclusive iGaming conferences will see executives from around the world attend two days of live panel debates, roundtables, presentations and networking events.
In addition to being a Silver sponsor of the event, three senior members of ORYX will join industry colleagues on panels to discuss a number of exciting topics over the two days. ORYX Gaming’s Managing Director, Matevž Mazij, will take part in a panel discussion on how to get to know customers in order to offer what they need. Primož Blazinšek, Head of Operational Marketing, will talk about prioritizing the first-time player experience; while Jovana Popovič, Director of BU iGaming Platform & Services, will talk about customer profiling and retention.
‘We are proud sponsors of the virtual edition of the WGES, an event well-known in the industry to attract executives from across the sector and for being a focal point for stimulating and interesting conversations about a wide range of topics,’ stated Matevz Mazij, Managing Director of ORYX Gaming. ‘We look forward to playing a major role in the event and to seeing new and familiar faces during the event.’
About Bragg Gaming Group – Bragg Gaming Group Inc. is an innovative B2B online gaming solution provider. Leveraging their industry-leading technology, it offers a turnkey solution, including an omni-channel retail, online and mobile iGaming platform, as well as advanced casino content aggregator, sportsbook, lottery, marketing and operational services. Renowned for its rapid and seamless integration, its content aggregator combines casino, slots, live dealer, lottery, virtual sports and instant-win game content from top tier gaming content providers, along with proprietary content, and is fully compliant with major regulated jurisdictions.”
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DraftKings Inc. (NASDAQ: DKNG) announced earlier last week a new deal, making the sports technology and entertainment company the exclusive Official Daily Fantasy Sports Partner, as well as an Official Sports Betting and iGaming Partner of the NBA team. In addition to access to Pistons trademarks and logos, the deal includes DraftKings-branded courtside LED signage and in-game basket pad branding. The agreement comes as DraftKings prepares to launch mobile sports betting and online gaming in the state of Michigan, pending licensure and the receipt of necessary regulatory approvals. “As our first professional team activation in the state of Michigan, we are thrilled to join forces with the Detroit Pistons ahead of our pending market introduction,” said Ezra Kucharz, Chief Business Officer, DraftKings. “This deal deepens our relationship with a prominent local team to facilitate more immersive fan experiences, both for Michiganders familiar with regulated gaming products as well as newcomers to the space.”
International Game Technology PLC (NYSE: IGT) announced last month that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming’s three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z’s Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming’s “Play Maverick Sports” mobile sports wagering app.
Scientific Games Corporation (NASDAQ: SGMS) announced last week that it is partnering with Genius Sports Group, a leading provider of sportsbook management solutions, to provide in-game content to its wagering customers worldwide, excluding U.S. leagues. Sportsbooks operating on Scientific Games’ OpenSportsTM platform will gain access to Genius Sports Group’ LiveData and LiveTrading services, trusted by over 150 of the world’s largest wagering brands and fully customizable for every customer. Genius Sports Group and its sports betting division, Betgenius, created the market for official data across all tiers of sports and today offer partners access to official data for over 170,000 events each year.
MGM Resorts International (NYSE: MGM) through BetMGM, born out of a partnership between MGM Resorts International (NYSE: MGM) and GVC Holdings Plc, and has exclusive access to all of MGM’s U.S. land-based and online sports betting, reported last week the launch of BetMGM Casino in Pennsylvania, bringing the digital gaming company’s exclusive portfolio of online slots and table games to players in the Keystone State. “We’re thrilled to bring BetMGM’s online casino offering to Pennsylvania,” said BetMGM CEO Adam Greenblatt. “With more than 140 different games, including our own in-house progressive jackpot network, we’re delivering the widest range of content currently available in the state. Alongside MGM Resorts and its M life Rewards program, BetMGM will provide players with a truly unique entertainment experience.”