Major internet sportsbook operators are now turning their attention to participating in only regulated markets. This week, a group of industry-leading sports betting brands came out with a 12-point pledge, which aims to declare their commitment to regulated markets as well as promote a responsible-gambling culture within their activities and more.
The coalition features Bally Bet which is operated by Bally’s Corporation, and BetMGM, which is a joint venture of MGM Resorts and Entain PLC, DraftKings, and FanDuel. These are the initial six operators which will push for the pledge, which has been released in September, the month which was named Responsible Gaming Education Month by the American Gaming Association.
The 12-Point Pledge
Martin Lycka, Entain’s senior vice-president for American regulatory affairs and responsible gambling, said that the new gaming standards are an important milestone. He is pleased that more leading brands have joined the responsible gaming commitment in the rapidly growing U.S. markets. In his words, the move is a first for the online market and a significant step forward in addressing the issue.
In the 12 point-pledge operators vow to take active steps to prevent underage and excluded individuals from participating in any form of gambling on their platforms. They also state that they want to help users in making informed choices in their gaming, as they provide easy-to-read information on how to play, as well as responsible gaming tools which can be utilized.
The six operators also support the adoption of effective promotion of a unified nationwide responsible gaming toll-free phone line. They also provide play responsibly tools for bettors, including but not limited to self-exclusion tools, financial and other limits as well as customer betting histories. While also abiding by self-exclusion rules and regulations as operators.
Additionally, operators believe in a shared responsibility approach to addressing problem gambling and are committed to collaborating with policymakers, academic experts and specialists, problem gaming treatment groups, advocacy groups, partners, and customers, to promote responsible gambling and address it as an issue. They also plan on offering to fund evidence-based problem gambling studies.
Up and Running in Key Markets
The operators are live in numerous leading online gaming markets in North America, including this year’s launches of New York State’s mobile sports betting and Ontario’s iGaming markets. Ontario’s online sector for private gaming brands is deemed one of high potential due to the high volume of bettors and operator-friendly regulations. It opened on April 4, 2022.
Meanwhile, the Empire State’s online sports betting market kicked off on January 8, 2022, and it has already transformed into the top digital sportsbook market in the U.S. Since the launch it has accumulated over US$10 billion in total handle. And despite its low volume in the off-season during the summer, betting handle started to recover as the NFL played its first week of games.
Source: Zochodne, Geoff “Major Online Sportsbook Operators Unveil ‘Industry-Led’ Responsible Gambling Standards” Covers, September 22, 2022