American Operators Hope for Rapid Legalization of Sports Betting Post Pandemic

American Operators Hope for Rapid Legalization of Sports Betting Post Pandemic

The SBC Digital Summit features the “Sports Betting in America” section on Friday focused on the challenges that US bookmakers are facing during the pandemic. The remote call brought together gaming industry executives as well as consultants.

The post-pandemic world

After the COVID-19 pandemic is over, the world will start working in a different way which could prompt lawmakers in different states to legalize sports betting, both offline and online. John Pappas, the founder, and CEO of Corridor Consulting also attended the meeting. The former Poker Players Alliance executive director said that the pandemic would pave the way for legalizing online gaming in the US. Industry leaders should educate lawmakers who are unfamiliar with this sector.

American Operators Hope for Rapid Legalization of Sports Betting Post Pandemic

Pappas said,

“We need to be cautious going into states that need the revenue.” He also said that it would be important to tell lawmakers “why having a competitive market with low tax rates and reasonable fees will create more revenue in the long term.”

They should not try to push the maximum they can receive from the industry in a very short amount as it would not be a good policy. Online casinos are available to people living in Delaware, New Jersey, and Pennsylvania while poker is available for Nevada.

The impact of the pandemic

Gaming companies, as well as Native American tribes, faced financial disruptions after their establishments were closed due to the pandemic. Tribes depend extensively on casino revenue to fund their community which is why some tribal casinos are reopening. However, commercial casinos still remain shut.

Vixio Regulatory Intelligence’s Matt Carey said, “Even when we come out of this, there won’t be a date where everyone says, ‘Come out of your houses and you’re free to do whatever you want.” The DC-based firm worked with gaming companies on regulatory developments. He said that there will be a staggered transition back and there will be a part of the population that wouldn’t rush into the nearest casino so soon. At this time, online casinos would be of great help to them.

New Jersey’s online casinos stand out as a good example. Even though retail gambling activity has shut down, the online casinos in the city continue to bring some much-needed revenue for the state. They have also witnessed an increase in play during the pandemic. A similar surge was noted in Pennsylvania as well.

sherlock

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.

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