Three years have passed since PASPA was revoked as unconstitutional, and the state of sports betting in the US has never been better.
That is, at least, according to James Kilsby, VP of VIXIO GamblingCompliance. Kilsby recently gave an interview to US Betting Report, looking back at these past post-PASPA years and the rapid expansion of the sports-betting and gaming industry. He touched on how the company provided regulatory compliance and intelligence to the industry, ensuring that all clients were well prepared for any changes or properly entering new markets.
Kilsby also revealed some interesting data gathered from industry stakeholders with the help of SBC, specifically the critical obstacles to the industry’s expansion. The surveyees recognized the Federal Wire Act as the biggest hurdle, preventing betting on sports from another state. Among other obstacles, the surveyed companies stated high taxes, lack of offshore restrictions, and restrictive regulation of tribal gaming. Even though respondents expressed a lot of criticism, 60% agreed that the current state of the industry is still preferable to federal meddling in sports betting and accompanying policies.
“I was somewhat surprised the Wire Act featured quite so prominently in our survey, although it most certainly is a very influential component of the regulatory landscape overall. I would imagine that the legal uncertainty arising from the US Department of Justice’s recent attempted reinterpretation of the Wire Act, to apply the statute beyond sports betting to other forms of gaming, only to see that overturned in federal courts, was a major factor here,” said Kilsby.
When asked about recent brand acquisitions and partnerships between big companies in the gaming industry, Kilsby said that these deals were most likely made for user acquisition but also brand building. He is positive that this is only the beginning, seeing as how the US is becoming a new gathering point for veterans of the industry.
“Looking ahead, I think we’ll see more of both these types of deals, in addition to the market-access partnerships between operators and casinos or sports teams that will vary in shape and form based on the regulatory requirements of each state, “ added Kilsby.
Finally, Kilsby touched on the topic of responsible gaming. He believes this is the vital aspect betting companies should be focusing on going forward, especially in the way they advertise. Concluding the interview, Kilsby asked for raising the standards so betting can “be a mature and socially responsible industry that does not warrant a more intrusive level of regulation.”