The Supreme Court ruling that allows states to legalize sports betting is only a few months old but states, Vegas casino companies and other gaming enterprises are now beginning to come to grips with what the new laws mean.
One of the biggest changes involves the ability of states to legislate online gambling. Many states have done just that including New Jersey where sports betting and online gaming are moving ahead quickly.
FanDuel Fantasy Sports Online
Last week FanDuel Group, a leading online entertainment and sports company, announced that they are preparing to launch the FanDuel Sportsbook app which will bring sports betting online. FanDuel built an online sports betting experience that is simple, secure, and convenient, featuring a multitude of betting and payment options.
The app is, for now, applicable to sports fans in New Jersey. Users can place wagers across football, baseball, golf, basketball, tennis and soccer with just a few clicks. As additional states legislate sports betting in their states FanDuel’s Sportsbook app will be made available to bettors in other states.
FanDuel Group CEO commented, saying “FanDuel is creating a new genre of entertainment, and sports betting is another way we can bring fans closer and more engaged to the games and teams they follow. We’re leveraging our experiences building the Sportsbook at the Meadowlands and the global footprint of Paddy Power Betfair to build an online sports betting experience that fans want, love, and can rely on.”
FanDuel Sportsbook app users will have access to multiple wagering options including point spreads, over/unders, parlays, moneylines, teasers, round robins, prop bets and an extensive list of live in-game wagers. There’s a Betting Slip feature that automatically displays potential payouts so, even before a bettor places the wager, he’ll be able to calculate possible winnings quickly.
Some of the FanDuel Sportsbook app features include:
- Multiple payment options: There are a number of of deposit and payment options available so users can place their bets with PayPal, debit or credit cards, online bank transfers, ACH (eCheck) and other evoucher and ewallet programs. Users can withdraw winnings at any time online into their online banking institution and then use the funds for any online purchases or to withdraw into their local bank account.
- Live betting: Fantasy sports changed the way fans interact with sports on TV and enhanced sports viewership. In the same way, in-game wagering on the FanDuel Sportsbook app will expand that interactive engagement. Users will be able to bet on games as they’re being played. The app will display the plays in real time for a heightened viewing experience.
- FanDuel brand: FanDuel has built a reputation as a familiar, trusted and reliable brand. In addition to safe and secure banking users enjoy account protections plus a 24/7 live call-in center for customer service via web and social media.
Some of the perks that FanDuel sports bettors will experience include:
- For new users who deposit at launch, FanDuel will double their first deposit of up to $100.
- A sports betting training camp will be available for those who are new to sports betting.
- FanDuel Sportsbook will be accessible on desktop and mobile for iOS and Android operating systems.
Online in Nevada
Nevada’s economy revolves largely around the casino industry. For 80 years the casinos of Las Vegas and Reno have been drawing gamers to the tables and slot machines, generating taxes and other revenues that have given the state a robust income. Now the Nevada Gaming commission is considering rule changes to counter the competition that is resulting from the spread of sports betting and other online gambling activities that’s expanding quickly in other states.
The Gaming Commission Is expected to start by revoking Regulation 22 that requires that sports bettors verify their accounts in-person. Whereas online poker and horse racing bettors can verify their identity online only, currently Nevada sports bettors must verify their identity in person. The change is indicative of the competition that Nevada is facing from other states who are now offering sports betting as well as acknowledgement of the increasing accessibility of online and mobile sports betting which puts casino operators at a disadvantage.
The change will be a hard one for casino operators to accept. Land-based casino venues – which until now have dominated the Nevada sports betting scene – have a vested interest in getting online bettors to visit. Visitors are highly likely to move on to play other casino games. Online sports bettors don’t readily visit brick-and-mortar casinos so the in-person identity verification provides a route to accessing these individuals.
On the other side of the coin, the requirement for on-site identify verification is onerous for many sports fans who simply move on to place their bets at unlicensed offshore sites. Till now, the Gaming Commission has sided with the casinos who are trying to get gamers into their venues. That, however, seems to be changing.
According to Eilers and Kreicik Gaming, by 2020 mobile sports betting will make up more than half of Nevada’s sports betting handle. At present the UK leads in mobile sports betting worldwide, mainly because the industry in the UK started to promote mobile sports betting several years ago. Because of the Nevada casinos, the industry in Nevada hasn’t been active in promoting mobile betting so it’s expected that it will take a few years for the state to catch up to the UK in offering online sports betting options.
Mobile sports betting was legalized in Nevada in 2010. The first 3 sportsbooks on the market were CG Technology, Station Casinos and William Hill. Caesars and MGM didn’t get into the market until 2017, quite late in the game.
The casinos themselves are divided about what they want the Gaming Commission to decide. If the Commission removes the requirement for sports bettors to go in-person to casinos to verify accounts, as is expected, the casinos might gain even more customers through the online identity verification.