The US Supreme Court ruling is a huge step forward. Most importantly, this immediately presents a clear opportunity for states to take the baton and get it right. States must determine reasonable regulatory frameworks, player protections and a clear path to market engagement for the industry.
In the meantime, gaming operators have an opportunity to get a head start, if they have not done so already. Having integrated a sports book into a casino, we understand the landscape ahead.
Competition for the American Sports Bettor will be fierce during the coming years, and savvy operators will begin moving today.
Monday, May 14, 2018 Is a Historic Day for Sports Betting
Today, the US Supreme Court overturned the federal ban on sports betting, known as PASPA.
In a nutshell, states will be allowed to determine their own path forward when it comes to legalizing sports betting.
Certain states such as New Jersey have been heavily anticipating this decision, and are hoping to accept the first legal sports wager outside of Nevada within weeks.
A number of other states including Connecticut, Mississippi, West Virginia, Delaware and Pennsylvania are racing to the scene as well.
There is a major divide in the reaction to the news from American professional sports leagues. While the NFL continues to “fear” for the integrity of the game, the NBA and MLB are taking far more progressive stances.
Dallas Maverick’s owner Mark Cuban believes the PASPA ruling just doubled every professional sports team’s value, while DFS giant FanDuel sees potential for up to 5x their current value.
Implications at Chalkline Sports
This represents long awaited, exciting news for us at Chalkline for several reasons:
- We’ve spent the past two years (as of May 17th) building the company, the platform and product-market fit.
- We’ve already spoken to hundreds of US operators and media companies. They’ll have to go from “Wait and See” to “Moving Today,” and we’re ready for it.
- The way that sports books will roll out in the US (initially) is through casinos, tracks and existing license holders. We’ve done exactly this before.
- Media companies stand to win big in the short term as operators begin advertising. (Great fit for our BettorGames and Publisher Tool Kit).
Our team’s depth of experience is relatively unique, with decades spent as global regulated sports operators.
Here is some of our past work that informs sports operators how they can move forward in a post-PASPA landscape: