American Gaming Association

Reg-tech – Easing the burden on compliance teams

Published

1 year ago

November 22, 2023

reg-tech-–-easing-the-burden-on-compliance-teams

Greg Ponesse, Chief Revenue Officer at Compliable

The year is coming to an end, and we can look back at an interesting 12 months that have seen the US betting and gaming landscape further expand into three new states, Vermont, North Carolina and Kentucky.

The American Gaming Association (AGA) recently released numbers that showed commercial gaming revenue was boosted in Q2 of 2023, hitting a record of $16.07bn. The impressive results marked the 10th consecutive quarter of growth for the industry.

Yet, some operators have had to navigate through choppy waters, with news stories from the last 18 months including Churchill Downs, MaximBet, PlayUp, Fubo, FOX Bet and WynnBet closing or pulling out of states as they struggle with profitability.

European Gaming Congress 2024 (Warsaw, Poland)

Sports betting, the main legalized vertical in the US, is such a low margin business that the ability to save money anywhere in operations is so important. Competition is extremely high, and the sports betting markets in the majority of legalized states have been dominated by a handful of behemoths such as DraftKings and FanDuel.

While these operators have large compliance teams to cope with the fragmented regulatory landscape that exists across states in the US, smaller to medium-sized companies have fewer resources to handle ever-changing regulations while also preparing for new states opening up.

Historically, if not handled by an internal team of compliance staff, regulatory issues were simply given to outside counsel with their associated high legal fees. Furthermore, overstressed smaller compliance teams leave room for mistakes as a result of human error which can lead to large regulatory fines.

The number of reg tech solutions now available in the gambling space can be hugely beneficial and can drive down costs in a number of ways, with one of the major advantages being that companies can benefit from compliance work that is being done in one market across similar jurisdictions.

Despite a lack of common regulatory approaches in legalized US states, there are still many similar obligations, and with technology, the process to complete these tasks can be automated. Licensing of employees and reporting of revenues or other data are common compliance duties that most regulators require. This type of requirement can easily be handled by technology rather than employees, significantly increasing efficiency, and freeing the team to focus on higher level problems which can be critically important when launching in new jurisdictions.

Simply put, reg tech allows a smaller team to operate with the same skills and efficiency as a much larger team and can help cut costs while still maintaining operational compliance.

Even if fewer US markets are currently opening up compared with a few years ago, successful gambling operators and suppliers are targeting multiple states at a minimum. We have passed the point where any one person can be an expert on every gambling jurisdiction’s requirements and tech is a necessary component to help manage the processes.

As 2024 is approaching, we will see further regulatory developments in the US betting and gaming space and more consolidation cannot be ruled out as operators grapple with being profitable in a hyper competitive sector.

Reg tech can play an important part, cutting costs while streamlining and simplifying processes and procedures, helping operators to succeed in the exciting US market.

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AGA

Americans to Wager Estimated $1.39 Billion on Super Bowl LIX

Published

2 weeks ago

February 6, 2025

GamingAmericas.com

americans-to-wager-estimated-$1.39-billion-on-super-bowl-lix

The American Gaming Association (AGA) estimates that Americans will wager a record $1.39 billion legally on Super Bowl LIX, highlighting the continued expansion and enthusiasm around the legal sports betting market.

“No single event unites sports fans like the Super Bowl, and that excitement extends to sports betting, with this year’s record legal handle reflecting its widespread appeal,” said Bill Miller, AGA President and CEO. “This figure underscores the positive impact of the legal market—from protecting consumers to generating tax revenue that benefits communities across the country—while enhancing the game experience for all.”

Americans’ support for legal sports betting continues to grow. According to the AGA’s 2024 American Attitudes Survey, 75% of Americans support legal sports wagering in their home state, and 90% view sports betting as an acceptable form of entertainment. Since the Supreme Court struck down PASPA in 2018, 38 states and D.C. have launched legal sports betting markets, expanding consumer access to safe, regulated options.

With Super Bowl LIX marking another major milestone in the growth of the legal U.S. sports betting market, the AGA is committed to fostering a thriving legal market that promotes responsible gaming, safeguards consumers, and supports long-term economic growth. As part of this effort, the AGA is once again partnering with New Orleans Saints great, college football analyst and responsible gaming ambassador, Mark Ingram II, at Super Bowl LIX. Mark will appear on Radio Row on behalf of AGA’s Have A Game Plan.® Bet Responsibly. campaign. He will encourage bettors to bet legally and responsibly on Super Bowl LIX.

The post Americans to Wager Estimated $1.39 Billion on Super Bowl LIX appeared first on Gaming and Gambling Industry in the Americas.

American Gaming Association

AGA Lauds President Trump’s Visit to Las Vegas

Published

4 weeks ago

January 29, 2025

GamingAmericas.com

aga-lauds-president-trump’s-visit-to-las-vegas

The American Gaming Association (AGA) member Circa Resort and Casino hosted President Trump for an important event, building on the industry’s strong ties with the president.

The Association expressed its gratitude to Circa CEO Derek Stevens for hosting the event and taking the opportunity to convey to President Trump and his team the key tax priorities in the year ahead, including raising the slot tax threshold and eliminating the sports betting excise tax.

Bill Miller, president and CEO of the AGA, said: “This event is a testament to the president’s commitment to making sure that the tax code not only encourages job creation but also ensures workers keep more of their hard-earned money.

“It’s exciting for our industry that the president visited a casino property so early in his second term. This event clearly demonstrates the positive role the gaming industry plays in the U.S. economy.

“President Trump’s tremendous support for the gaming industry during his first term was unprecedented – for the first time in history, our industry was able to obtain federal economic relief in the wake of the Covid-19 shutdowns. We look forward to further engagement with President Trump throughout this year on critical tax policy and other important industry priorities.”

The post AGA Lauds President Trump’s Visit to Las Vegas appeared first on Gaming and Gambling Industry in the Americas.

American Gaming Association

AGA Unveils Have A Game Plan Initiative’s Fifth Pillar: “Keep Your Cool”

Published

3 months ago

December 9, 2024

GamingAmericas.com

aga-unveils-have-a-game-plan-initiative’s-fifth-pillar:-“keep-your-cool”

The American Gaming Association (AGA) announced the expansion of its “Have A Game Plan. Bet Responsibly.” public service campaign with the introduction of a fifth pillar: “Keep Your Cool”. This new pillar reinforces the campaign’s mission to promote responsible sports wagering by emphasizing athlete harassment is never appropriate.

The announcement comes as data highlights the growing effectiveness of responsible gaming programs across the country. According to recent research, 66% of Americans believe the gaming industry’s responsible gaming initiatives are effective, up from 59% in 2023. Among those who actively participate in gaming, 79% of physical casino players and 85% of sports bettors agree these programs are working, including an impressive 73% of young bettors aged 18-24.

“Responsible gaming efforts like Have A Game Plan and other proactive efforts by legal operators are resonating with consumers and making a difference. ‘Keep Your Cool’ builds on this momentum by reminding bettors that a betting result – good or bad – is not an invitation to criticize a team, official, or athlete,” said Bill Miller, President and CEO of the AGA.

Since its launch in 2019, “Have A Game Plan. Bet Responsibly.” has educated bettors through four foundational pillars:

• Set a Budget: Establish and stick to a financial limit.

• Keep It Social: Bet responsibly as part of a shared activity.

• Know the Odds: Know the terminology and understand risks before placing bets.

• Play Legally: Use regulated, legal betting platforms.

The new “Keep Your Cool” pillar complements these principles by promoting sportsmanship and emphasizing the social aspects of sports betting:

Respect the Game: Winning and losing are part of sports betting, nobody is perfect; the result of a bet should not prompt negative actions – in person or online – toward athletes and officials.

Stay Focused on Having Fun: Sports betting is entertainment.

NASCAR, an early supporter of Have A Game Plan, underscored the importance of the new pillar. “At NASCAR, we believe responsible gaming enhances the overall fan experience. ‘Keep Your Cool’ reflects our shared commitment to encouraging fans to bet responsibly and maintain a respectful approach to the sport they love,” said Steve Phelps, President of NASCAR.

With responsible gaming messaging resonating stronger than ever, Have A Game Plan. Bet Responsibly. continues to foster a more enjoyable betting environment for fans.