Sportradar, the international provider of sports betting and integrity services, has offered its response to the news earlier this week that sports betting in the US will become legal. Initially, said the firm, the sports betting market there will be chaotic in terms of everyone settling in post-decision and determining their go-forward plans. It is likely that every state’s approach to regulation will be different to some degree; resulting in a complex marketplace and a need for clear strategic decisions and counsel.
“In the aftermath of this landmark decision, and considering the many ways this seismic shift will impact the landscape, it is critical to create a framework that enables US sports fans to engage in the sports and competitions they follow and love, through a safe and secure wagering infrastructure that balances the priorities and needs of all stakeholders,” remarked Carsten Koerl, founder and CEO.
The company’s deputy president US, Dr Laila Mintas, noted: “The actual, factually proven benefits to legalised, regulated betting on sports far outweigh the misperceived fears and unfounded concerns many have on this topic. In addition to the obvious benefit, which is taking a significant amount of this activity, estimated by some to be in the range of $190bn annually, out of the shadows and into the light where it can be administered and regulated appropriately, there is also the obvious benefits of tax revenue, job creation, consumer protection and broader overall economic impact to consider.”
She added: “All key stakeholders, including leagues, operators, regulators and law enforcement, need to work together and partner with the most reputable service providers to establish best-in-class systems and safeguards overseeing integrity in US sports. The public will need to see that in place, and working well, because the reality is that integrity protection will be non-negotiable in the new normal that is sports betting in the US.
“As sport continues to look for new ways to engage fans, legalised betting can serve as not only a catalyst to achieve that goal, but also a growth engine across the entire ecosystem – leagues, teams, networks, municipalities – of an industry that plays an important part in the fabric of American society.”
Sportradar also said that there will be new questions raised post-PASPA. “If the regulation approach is not attractive to any number of stakeholders, how will this affect the emergence of the market,” it said. “For instance, how many bookmakers will really enter the market to provide a safe, secure avenue for legal sports betting. Will bettors that have been participating for years in the black markets switch to regulated offers?”