Following the tragic shooting on Sunday night, Las Vegas was in a sombre mood as the G2E conferences opened in the city on Monday.
As AGA president Geoff Freeman had noted: "The gaming industry is a tight-knit community and Las Vegas is the beating heart of our operations. The AGA and Reed Exhibitions will offer our full assistance as the city recovers, and we will strive to honor the victims of this tragic event."
So the show went on despite the dampened mood. There is always something abuzz at G2E in Las Vegas and while the show floor, and its expected 26,000 visitors, is all talk of millennials, virtual reality, skill gaming and e-sports, the conference floor has only one hot topic of discussion - sports betting. For the first time, however, it is not a case of if, but when.
Led by igaming trailblazer New Jersey, 20 states are attempting to overturn PASPA and allow for the state-by-state regulation of sports betting. This could see a monumental shift in the gambling landscape not just in the US but globally.
The first big ripples of this were seen in last week's acquisition of NYX Gaming Group by Scientific Games - and with it global sports betting supplier Openbet. Optimists feel the decision from the Supreme Court should land somewhere between November and January.
Quinton Singleton, vice president at NYX, was very upbeat. "Everyone is now finally realising the opportunities for sports betting in the US and the pace of engagment is speeding up exponentially," he said.
According to research conducted by Eilers and Krejcik Gaming, by 2023 more than 30 US states could allow sports betting in some form in a market estimated to be worth up to $16bn. However, there are many big questions that will remain unanswered even if the Supreme Court ruling does come out in favour of legal sports betting. Will online sports betting be allowed? What will taxation and regulation look like, state by state? The sports betting and igaming panel saw a full house. Even the historic opponents of sports betting are working out how to react. As David Purdum, of ESPN, moderating the panel noted: "The leagues were historically the main obstacles for sports betting but even they met last week to discuss the very subject". A new poll conducted by The Washington Post showed that a 55 per cent of Americans support the legalisation of sports betting in the country. The tide has definitely turned. However, there were some that heeded caution. Art Manteris, vice president of race and sports at Station Casinos, warned: "Things are moving too fast". He added, "If [regulation] is not rolled out properly then the revenues won't be there." Dan Kustelski, CEO of Chalkline Sports, agreed. "It is tough to manage betting risk 24/7 and those that aren't savvy won't make decent margins," he said. "Sports betting is a tricky business and those expecting an easy ride will be surprised. The right solution with the right user experience though leads to huge customer engagement." Kip Levin, CEO, Betfair US and TVG, mused: "Nevada is a different market. Here mobile is an extension of retail. The $1.5bn illegal market is entirely online so it is critically important to compete this with a joined up online/mobile experience." He added: "Ideally there would be a whole new [regulatory] framework." In the meantime, products are emerging to fill the gap. While DFS promised much it opened up some interesting opportunities or "sports betting lite" as some are calling it. SportAD is one such company taking advantage of this situation. They are live with Resorts Casino in NJ powering their Fastpick game.
Joe Brennan, CEO of SportAD, commented: "Our game really resonates with sports fan. Its a simpler, faster version of fantasy sports that allows New Jersey sports fan to engage in casino.” So where is the opportunity? The panel was split as to who would be the winners and the losers. Dan Kustelski summed things up: "I can't tell you who will be the winners but if you want to increase your chances then you need to be building your databases today."
