Doug Hood’s Post

Ceasars CEO is concerned by the possibility of Federal regulation.... The CEO of Caesars thinks that Federal intervention in the sports betting industry is a possibility if the industry doesn't develop responsibly. More oversight from regulators (both at a State and Federal level) is a given, not just in the US, but in every country that has legal wagering. My opinion - without a strong regulatory framework, there will always be rouge operators that put profit ahead of a sustainable industry. I suspect the US will follow a similar path to the Australian example. In AUS, individual state-based regulations have been enhanced by the National Consumer Protection Framework (NCPF) over several years. The NCPF put in place some minimum standards, aimed at protecting wagering customers, which each state had to implement through various tools (Legislation, Wagering Licences etc). This process would be even more daunting across the dozens of states that have legalised sports betting in the US. An interesting counter-point is the way Brazil is rolling out its framework for regulated sports betting. Brazil has taken a proactive approach to responsible gambling with protections 'by design', such as banning the use of bonus bets, strong identity verification measures, and a federal body to oversee operators. I'm skeptical that an industry-led body will keep federal intervention at bay but given the complexity of US State and Federal politics, this may take some time to filter through.

In a recent interview with Sports Business Journal, VIG PARTNERS' founder and CEO, Eric Foote talked about architecting the betting and gaming strategy for TGL – from navigating regulatory approvals to securing gaming operator partnerships. Click here to read the entire article: https://lnkd.in/eiDBuphe

I was excited to contribute to and be quoted in the below article from GGB Magazine. “Sports betting in the U.S. has become a multibillion-dollar market and is projected to grow enormously in the next few years, leading many different players to consider entering the market or expanding their current platform.” With March Madness underway, sports betting and the evolving landscape of the gaming industry continue to be an area closely watched. I offered my perspectives on the current state of the industry and the biggest factors impacting businesses considering expanding or entering the marketplace in @Global Gaming Business Magazine. Keep an eye out for soon to be released insights from KPMG on the gaming industry and the potential risk factors companies should assess as the industry evolves. https://lnkd.in/gyKRw5up #sportsbetting #deals #riskmanagement 

🔥 The start of the new legislative session in #Georgia brings with it further discussion on the legalization of #sports #betting in the state. #news #iGaming #gaming #bettingsports

Great insight from the American Gaming Association. The "gaming" market is in every corner of the world, but unfortunately there is still a large portion that is unregulated and the public is unprotected. Legal, regulated gaming is always preferred to that type of market. #SportsWagering #Gaming #AGA #Casino https://lnkd.in/g2De8Ps4

I spent 30+ years in regulated casino gaming. Had the opportunity to work with some of the finest peope imaginable. Got a chance to be involved with an industry during its transition to mainstream, breakthroughs made possible when the industry focused on player/customer safety. The two are separate responsibilities; both (and compliance) imperative. It is my view that online gambling will eventually erode confidence in the integrity of the game(s) and therefore not only put the gambling industry in peril, but also any sport that thinks this is the path to creating a new generation of customers. The burn rate on an online gamer will require more and more be brought into the fold and the dragon then chases the dragon: double death spiral. Allowing bets on the Olympics is grotesquely absurd and corrosive. IMHO. https://lnkd.in/gqnjD-aV

The latest numbers from the New York Gaming Commission show a big jump in sports betting activity in the state with operators taking in $516.8 million in wagers for the week ending September 29th. That’s a 31.3% year over year increase and 7.6% from the previous week.

Michigan sports betting handle increased year-over-year again in August as bettors staked $289.7 million during the month. The latest data from the Michigan Gaming Control Board shows a 27% boost over the $228.5 million bet in August 2023. The most recent monthly total also marked 12 consecutive months with year-over-year handle jumps. https://lnkd.in/et-N-DgZ

The Jul/Aug edition of Gaming America magazine is here! In our cover feature we discuss whether Tribal and commercial operators can work in tandem in California and across the US. Also inside this edition we speak to executives from Ocean Casino, Fanatics, and the Soloviev Group, we look at the uncertainty surrounding Brazil's roadmap to regulation as well as at some of Las Vegas' most groundbreaking properties. Check out all articles on https://lnkd.in/dq5KJChb #gamingnews #gamingindustry #gamblingnews #gamblingindustry