• About Us / Contact
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Mississippi
    • New Jersey
    • New York
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Massachusetts
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbooks
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Guide To ‘Risk-Free’ Bets
    • Common Beginner Mistakes
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Partnership Tracker
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Mississippi
    • New Jersey
    • New York
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Massachusetts
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbooks
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Guide To ‘Risk-Free’ Bets
    • Common Beginner Mistakes
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Partnership Tracker
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Sports Betting Proves A Hot Topic At Sloan Analytics Conference

Eric Raskin by Eric Raskin
March 4, 2019
in Industry
Share on FacebookShare on Twitter

One day before the subject of sports betting got its own panel at the MIT Sloan Sports Analytics Conference in Boston, it was already driving the conversation. NFL COO Maryann Turcke declared at the very first panel of the day on Friday, ostensibly about building data-driven organizations, that sports betting will β€œchange everything” in terms of the way fans consume and engage with sports.

Turcke is almost certainly right. But her tense needs updating. Sports betting is changing the equation already.

Saturday morning’s β€œSkin In The Game: Sports Gambling’s Emergence In The U.S.” panel was unique in that, for the first time at Sloan, legal sports betting on a widespread level in America was treated as a reality of the moment, not a distant β€œif/then” proposition.

Sure, there was plenty of focus on the future; moderator Jeff Ma, of MIT blackjack team fame, kicked off the conversation by asking what the experts thought the sports betting industry will look like in 20 years. But for the most part, the panelists β€” William Hill CMO Sharon Otterman, Perform CCO Andrew Ashenden, ESPN broadcaster Doug Kezirian, FanDuel Group President and COO Kip Levin, and Sportradar U.S. President Matteo Monteverdi β€” focused on the here and now of a business that has been on a steep trajectory since the U.S. Supreme Court overturned PASPA less than 10 months ago.

Here are some of the notable topics and most compelling insights from the hour-long roundtable:

Get online or get lost

Thee first two words out of every panelist’s mouth when asked which states are doing sports betting right were β€œNew” and β€œJersey.” And if you know anything about the early days of regulated sports betting in NJ, you know almost all of the growth is on the online/mobile side.

β€œMississippi is only retail,” Monteverde pointed out. β€œClearly that limits dramatically the adoption. To see this business growing, you need to see the mobile regulated.”

Levin added that if part of the point of regulating sports wagering is to steer bettors away from the black market, allowing mobile is essential. β€œIf it’s going to go … retail only,” Levin said, β€œit’s going to take a long time to convert those customers over.”

But even the betting set-up in New Jersey could be more progressive, Ma suggested, as he scoffed at the notion of needing a land-based partner to offer mobile betting. β€œImagine you couldn’t set up an eCommerce site unless you had a physical store,” the moderator chimed in.

Otterman, as was the case at various points throughout the hour, played the role of semi-contrarian: β€œI think the magic is going to be a combination of online and retail,” she said.

Minimizing the β€˜friction’

Following on Levin’s point about it being nearly impossible to squeeze out the black market if mobile betting isn’t legal in more states, there was a fair bit of talk about points of β€œfriction” found in the early days of regulated betting. β€œThe more friction that regulators put in the system,” Ma said, β€œthe much smaller chance that this is ever going to really replace the black market.”

Levin noted that payment processing is a huge point of friction right now, but he believes that will get better over time.

Then there’s taxation, which varies wildly from state to state.

β€œStates like Pennsylvania where the tax rate is so high, it’s really hard to compete against the illegal market,” Otterman opined. β€œWe want to compete on a level playing field because we want to keep consumers safe.”

Everybody’s two favorite words: integrity fees

We hope you had β€œintegrity fees” somewhere on your Bingo card coming into the panel. Those dirty words to describe the sports leagues getting a cut of the handle or the revenue popped up a couple of times, and were referenced as one of the sources of the aforementioned friction.

The good news for those of us who’d like to see the term β€œintegrity fee” fade from the discussion permanently is that at the panel it was frequently accompanied by the word β€œsilly.”

β€œIt is silly, the tax,” Monteverdi insisted. But then he clarified: β€œIt’s not silly that the leagues should have integrity programs.”

In-game betting taking off

The ability to make and take wagers during the game, whether on an individual play/point/inning/period or on real-time-updated odds for an end-of-contest bet, is central to industry growth, everyone on the panel agreed.

β€œWe’re already seeing north of 50% of handle on NBA games in-play,” Levin cited regarding FanDuel Sportsbook.

In-game betting is particularly important for baseball, Kezirian said, because it couples nicely with sitting down, having a beer, and watching an inning or two rather than committing to watching an entire three-hour game to sweat your bet.

In addressing Ma’s opening question about what the landscape will look like in 20 years, Ashenden went straight to in-game betting, saying that the European models indicate it will just become more and more prevalent.

For love or money?

The most contentious topic of the panel spun out of a question of whether it’s money or entertainment that fuels most bettors. William Hill has come under fire for limiting or even banning β€œsharps” who’ve had success, putting Otterman on the defensive somewhat as she directed the conversation toward the company’s emphasis on recreational bettors.

Otterman disputed the assertion that William Hill doesn’t welcome winning bettors. She said, essentially, that the rumors aren’t true, saying of the publicized claims, β€œWe were picked on a little bit because we’re the largest bookmaker in Nevada.”

But moderator Ma was persistent in gently and respectfully pushing back. β€œIt’s too hard to get money down if you’re winning,” he said. β€œI had hope that legalization would change that, but I’m not sure if it will.”

For what it’s worth, Levin said that FanDuel regularly surveys new customers and is receiving positive news about conversions of both casual and serious bettors. β€œThe percentage of people who have never bet before is growing,” he said, β€œand the percentage of people who have bet with an offshore book is growing.”

The rising (crimson) tide of PR stunts

FanDuel got its share of attention in December when it paid out futures bets on Alabama to win the NCAA football championship a month before the results were in. Ma asked Levin if the gambit, which FanDuel said at the time would cost it about $400,000, paid off.

β€œIt worked out as we had actually hoped, because it created this big story and buzz, we got a ton of PR,” Levin said. β€œAnd then [Alabama] lost … and it became another story again.”

Ma countered that paying out β€œseems ridiculous,” saying treating losing bets as winners gives FanDuel’s business β€œzero credibility.” But Levin insisted it was worth it and that they did a careful analysis of what they stood to lose β€” and he admitted they decided on the payout plan at the time they did in part because the book hadn’t seen a heavy rush of futures volume on Alabama yet.

Off-the-beaten-path betting

In the wake of Major League Baseball trying to stifle betting on spring training games, as well as a mildly controversial first year of legal Oscars betting in New Jersey, the idea of less traditional betting markets was examined by the panel.

Kezirian said he understands where MLB is coming from with regard to betting on exhibition games. The host of the upcoming ESPN show Daily Wager emphasized that leagues need to be cautious and do their due diligence, and always explore β€œworst-case scenarios.”

As for Oscars betting, Levin said FanDuel had no expectation about being able to take bets on the awards before the New Jersey Division of Gaming Enforcement suddenly said they could. And even then, he said, interest from bettors was modest.

β€œIt’s not a huge business opportunity,” Levin said. β€œIt’s more about doing something different, getting the PR value, and making people aware.”

ShareTweetShare
Eric Raskin

Eric Raskin

Eric is a veteran writer, editor, and podcaster in the sports and gaming industries. He was the editor-in-chief of the poker magazine All In for nearly a decade, is the author of the book The Moneymaker Effect, and has contributed to such outlets as ESPN.com, Grantland.com, and Playboy. Contact Eric at eraskin@usbets.com.

Related Posts

Northern Exposure cover shot
Industry

Northern Exposure: Too Many Ads, Flames-Oilers Game 5, Basketball Betting

May 26, 2022
(Matthew Emmons/USA TODAY)
Features

New Jersey Tries To Put DraftKings Proxy Betting Case In Rearview Mirror

May 26, 2022
Load More

Top Sportsbooks In Your State

1
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
SugarHouse Sportsbook
Review / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
PointsBet
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
PointsBet Sportsbook
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetRivers Sportsbook
Review / 4.2
BET NOW
T&Cs ApplyOnly 1x Wager Applies
3
FOX Bet Sportsbook
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
PointsBet
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
FanDuel Sportsbook
Review / 4.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
PointsBet Sportsbook
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
SI Sportsbook
Review / 4.1
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
PointsBet
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
PointsBet Sportsbook Illinois
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
SI Sportsbook
Review / 4.1
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
PointsBet
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
PointsBet
Review / 4.3
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
BetMGM Sportsbook
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
WynnBET Sportsbook
Review / 4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Caesars Sportsbook
Review / 4.4
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
Betfred Sportsbook
Review / 3.8
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Bet99 Sportsbook
Review / 4.7
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Sports Interaction Ontario
Review / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
bet365 Sportsbook Ontario
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Bet99 Sportsbook
Review / 4.7
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
Sports Interaction Ontario
Review / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
3
bet365 Sportsbook Ontario
Review / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
1
Monkey Knife Fight
Rating / 4.5
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.
2
PrizePicks
Rating / 4.2
BET NOW
T&Cs Apply21+. Eligibility restrictions apply. See website for details.

State Sports Betting Guides

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
May 26, 2022

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
March 21, 2021

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
March 18, 2022

Most Read Stories

mattress mack betting charade

Will Everyone Please Stop Calling β€˜Mattress Mack’ A Sports Bettor?

April 27, 2022
Photo: Jasen Vinlove/USA TODAY

Dave Portnoy Says, ‘F**k That Guy,’ To Which Bettor And Gambling Twitter Seriously Object

May 16, 2022
map-missouri

Missouri Sports Betting Bill Draws Debate, Backlash In Senate

May 5, 2022
golden-gate-bridge-san-francisco

California Tribes Won’t Try For Mobile Proposal On 2022 Ballot

May 10, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (NJ/WV/PA/MI), 1-800-9-WITH-IT (IN),Β 1-800-522-4700Β (CO), 1-800-BETS OFF (IA),Β 1-888-532-3500Β (VA) or call/text TN REDLINEΒ 1-800-889-9789Β (TN).
19+. Please play responsibly. Terms and conditions apply.Β 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Michigan
    • Mississippi
    • New Jersey
    • New York
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Massachusetts
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbooks
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Guide To ‘Risk-Free’ Bets
    • Common Beginner Mistakes
    • Sports Betting Podcasts
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Partnership Tracker
  • News

Please share your location to continue.

Check our help guide for more info.

share your location