Catherine Sayre
speaker
30 appearances
1 recordings
1 series
first heard Sep 2019
last heard Sep 2019
Catherine Sayre’s voice in public audio — every appearance, attributed to the second.
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Appearances
That's correct.
So for decades, really, Nevada was the only state with a thriving sports betting market until the Supreme Court ruling last year essentially opened the way for other states to establish their own sports betting systems.
And 12 states now have some sort of active sports betting market.
New Jersey fought really hard for that court decision.
They were one of the first to launch sports betting after that decision.
They've been really aggressive, embracing mobile betting.
So it's really paid off for them.
And like you said, now they are neck and neck with Nevada.
Historically, casinos might have seen mobile betting as a threat, decreasing foot traffic into casinos.
But that's sort of an old way of thinking at this point.
And casinos are really embracing mobile betting.
They're partnering with digital companies that we know like FanDuel, DraftKings, other smaller, lesser known mobile betting companies are moving into the market as well.
Yeah, and that was one of the arguments for allowing states to set up sports betting is the American Gaming Association.
They estimate the sort of illegal gray market sports betting industry is $150 billion wagered every year.
So like you said, these are offshore sites and states aren't able to tax that revenue.
Yeah, and that's a nod to mobile betting, but I don't think it will have any real impact on revenue when you limit mobile betting to being inside the casino.
I think in-person betting is a bit more palatable for some lawmakers in a state where you already have casinos or you already have racetracks, gambling's already happening there.
So sure, why not add sports betting?
and increase the potential tax revenues.
When you expand that to everyone's iPhones, everyone's mobile phones, some state lawmakers are taking a little pause on that, including concerns about problem gambling.
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