On Oct. 17, Jeff Ifrah, a founding member of iDEA Growth, testified before the Council of the District of Columbia’s Committee on Finance and Revenue in their Public Hearing on  Bill 22-944, the “Sports Wagering Lottery Amendment Act of 2018.”

Jeff explained the economic benefits that other states have derived from the legalization of sports betting and online gaming, and the successful regulatory and technological safeguards that other states have put into place to activities and safeguard consumers.

For Jeff’s full testimony, click here.

National acceptance of sports betting and online gaming is spreading. The experienced perspectives of our members and our collective empirical research have made iDEA Growth a valuable resource and authority for lawmakers and government officials, who frequently request our professional opinions on implementing and legislating sports betting across the United States. The experts at iDEA are often asked to speak at events in order to educate industry leaders, legislators and consumers on the economic benefits of rationally regulated online gaming and the technological safeguards which protect the customer and the games.

See below for a calendar of our upcoming speaking engagements.

October 8-11: Global Gaming Expo – Las Vegas, NV

iDEA is a sponsor of this year’s Global Gaming Expo (called G2E for short), the largest gaming trade show in North America. Additionally, iDEA founding member Jeff Ifrah will be speaking on a panel about mobile gaming called “Mobile Gaming: The Next Big Thing for Indian Country?” The panel will cover the growth of mobile gaming in worldwide markets, and how businesses can take advantage of this boom swiftly and legally.

October 9: Ohio State Senators Eklund & O’Brien Roundtable – Columbus, OH

Ohio is one of the ten US states that has introduced a sports betting bill but has yet to make any mention of mobile provisions. George Sweny of Stars Group, a member of iDEA, has been invited to participate in this roundtable discussion with Ohio State Senators Eklund and O’Brien. The roundtable will delve into legalized sports betting, online mobile gaming, and the opportunities they may bring to the state.

October 17: Illinois General Assembly – Springfield, IL

Illinois is one of the seven US states that has introduced a sports betting bill with language about mobile use. At noon on the 17th, the Illinois General Assembly will hear testimony from iDEA member Jim Ryan of Pala Interactive on the economic benefits of online gaming. This will be a joint hearing between the Gaming Subcommittee and the Revenue & Finance Subcommittee.

October 17: Council of the District of Columbia’s Committee on Finance & Revenue

On the same day in Washington, D.C., founding member Jeff Ifrah will provide testimony to the Council of the District of Columbia’s Committee on Finance & Revenue. According to Legal Sports Report, sports betting could become legal in the district as soon as 2019. Jeff will offer his expert legal advice regarding D.C. Bill 22-944, commonly called the “Sports Wagering Lottery Amendment Act of 2018,” with a focus on mobile gaming.

November 18: SGAC Leaders’ Policy Conference, Scottsdale, AZ

iDEA founding member Jeff Ifrah will speak at the State Government Affairs Council’s (SGAC) upcoming conference in Scottsdale, Arizona. Jeff will participate as a speaker on the topic of what states need to consider when they’re moving toward sports betting legalization.

November 27-28: ICE Sports Betting USA Conference, New York, NY

iDEA Growth will sponsor this groundbreaking sports betting conference. We have been invited to appear on a panel entitled “Mobile wagering – a key component of your sports betting success.” The panel will discuss the size of the sports betting marketplace globally, while indicating how much states stand to gain by legalizing it.

For more information about any of the events listed here, please get in touch with iDEA Growth.

One of the biggest hurdles for online gaming and sports betting has been the fact that many credit cards will not process transactions related to online casino and poker sites. That situation appears to be changing as DraftKings Sportsbook in New Jersey recently joined FanDuel, Caesars online casino and SugarHouse Sportsbook in allowing consumers to use Paypal, one of the largest and most trusted electronic wallet services in the world.

The credit card situation has been a challenge in the Garden State, one of the first to allow legalized online gaming. Legal online casinos still experience up to 50% decline rates with credit cards; when customers try to input their credit card number to play online games or place bets, their cards are declined. This puts a big damper on the appeal of online gaming.

Online gaming profits have been impressive, but the potential income to the state without this challenge could have been even higher.

The New Jersey Division of Gaming Enforcement’s August financials reported that $95.6 million was wagered on sporting events in the state that month, up from to $40.6 million in July.  Gross revenues totaled $9.2 million for the industry in August, with revenues of $16.5 million since June 14, the first day of sports betting in the state. How much more could have been earned if customers had easier ways to place their bets?

As online wagering gains acceptance as a profitable and secure form of entertainment, the original hesitation on the part of banks and payment processors to facilitate participation should begin to abate and barriers to consumers may give way more convenience.

Many major card-issuing banks initially decided not to allow transactions related to legal online gaming because they thought the regulatory and privacy risks outweighed any potential financial benefits. Some major banks still decline transactions with online wagering companies including Bank of America, Capital One, Wells Fargo, TD Bank, Union Bank and Huntington Bank.

A variety of alternative payment options arose to fill the void, and this sector of the industry has grown extensively, with bettors using options like eChecks or prepaid cards. Other alternatives include eWallets, Neteller and PayNearMe, in addition to wire transfers, online bill pay, and plain old cash at land-based casinos. Some pioneering companies are exploring the use of cryptocurrencies and tokens through the blockchain.

The addition of the powerful PayPal brand will help address customer dissatisfaction with previously cumbersome payment procedures, and may encourage new gamers to give it a try.  Its influence and trusted status may further influence other financial entities to trust online gaming and permit more customers to get in on the fun.

If you live in Nevada, you may be used to hearing on the news about the odds of certain outcomes, from who will win the Super Bowl to the season’s top draft picks. However, for the rest of the country, until recently media coverage of sports only mentioned gambling in “sly, coded language — if it was acknowledged at all.” Because it was illegal to bet on sports prior to 2017’s landmark Supreme Court decision overturning PASPA, on-air discussions of sports betting were strictly taboo.

Even before the legal status of the practice changed, some broadcasters knew that their audiences wanted to know more about the factors that influenced the odds. Before Murphy v. NCAA, Scott Van Pelt of SportsCenter on ESPN had started a segment on his show called “Bad Beats” which showcased games “that drove bettors wild this past week in sports.” It quickly became the show’s most popular segment, a clear indication that there was an audience out there with a deep interest in sports betting that television programming could fill.

This week the Wall Street Journal reported that Bleacher Report is “launching an NFL show that aims to provide a resource for gamblers, part of what media executives believe will be a wave of such content.” The show, which aims to give insight into “covering the spread,” will be released weekly on Bleacher Report’s app, social media and YouTube and will even offer one fan the opportunity to bet $5000 with one of the hosts over the course of the season.

The show appears to be part of a trend where viewers will be looking to sportscasters for advice on the odds. Dave Finocchio, Bleacher Report’s co-founder and chief executive, calls the movement towards sports betting news in media a “paradigm shift,” predicting that media companies will be expanding their content to appeal to this new audience.

Bleacher Report’s show is not the first to try to gain a foothold with this audience. There is already a betting podcast called “Against All Odds” is hosted by comedian Sal Iacono. The Action Network, owned by the Chernin Group, recently acquired three smaller sports media tech companies and merged them into a news site and podcast network. There seems to be a thirst for a network that focuses on sports betting the same way that networks like CNBC cover the markets.

Paid content is increasing exponentially as well. Charles Barkley’s commercials for DraftKings are everywhere. The campaign is “designed to demonstrate how DraftKings Sportsbook brings fans closer to the sports games they love by adding the fun and thrill of competition to their experience.” While DraftKings’ product is now only available in New Jersey, by raising its brand awareness amongst a national audience DraftKings is looking ahead towards a future when its products will be available more widely. With so many states now considering pro-sports betting legislation, that future is not far away.

As legalization rolls out across the states, companies with this kind of marketing foresight will be ahead of the game with consumers.

Online gaming companies are frequently the first to champion new technology, and sports betting is inspiring similar innovation.

Several sports betting books allow people to bet using Bitcoin and other digital currencies, and in response, cryptocurrency bets have surged. Online bookmaker Paddy Power has also experimented with the futuristic world of virtual reality sports betting.

The latest innovation such companies are embracing is betting technology that integrates with voice-activated apps like Amazon’s Alexa. Robotic tools will help bettors make more informed bets by offering detailed information and even “expert” tips, which will be especially helpful for in-game bets. This is a prime example of another way online options are spurring innovation in order to appeal to wider audiences.

Several innovators in the sports betting world are experimenting with Alexa products. Paddy Power began creating gambling-related “skills,” or voice-directed custom actions, for Alexa as early as last year. Alexa users with Paddy Power skills installed can receive betting tips, news bulletins, and gambling results with a simple voice command.

Digital media company Independent Content Services has created its own Alexa voice command under the brand Club Call. A user simply says “Open Club Call” to activate the skill and receive sports betting tips focused on British football teams and their odds.

In Australia, SportsBet is working on a similar technology for horses, greyhounds and harness racing. Their upcoming Alexa skill is already listed on Amazon, though it is not live yet. Customers will be able to query the event name, venue, race number, and time to jump for a variety of races occurring across Australia at any given time.

Mark Richards of Vegas Slots Online points out the appeal of Alexa is in its medium. Instead of pausing your game to look at a new screen, you simply use your voice.

“The big problem with in-play betting is that you have to stop watching the game to place a bet and, if you want to compare the odds from more than 20 different companies, that could mean not watching the game for a couple of minutes,” he said. “How much simpler to say, ‘Alexa, what’s the best price on Wolves winning this game?’”

With online gaming legalized in more and more places, it’s certain that the field is changing rapidly. Companies who don’t want to get left behind should be keeping tabs on the latest innovations and considering how they can offer the most modern solutions, too.