Great article about how sports betting is finally coming out of the shadows, thanks to the recent Supreme Court decision that allows states to determine if they waynt to allow sports betting. Here’s more from the article:
“It’s a massive opportunity,” said Andrew Gaughan, the chief executive officer of Sportech, a U.K. gambling concern that sees its future in the U.S., where it owns rights to off-track betting in Connecticut and provides a variety of business-to-business gambling services to tracks and casinos throughout the world. “We’ve got to jump on it.”
Gaughan and Richard McGuire, the Sportech chairman, were genial hosts of a one-day crash course on sports betting, a seminar for gambling concerns and regulators that mixed in a sales pitch for Sportech and its partner, Sportradar. By the end of the day, attendees would know there is money to be made taking bets on the familiar and the exotic, everything from the NFL to Malaysian badminton, Australian rugby, and yes, UConn women’s basketball.
Bobby Valentine, the baseball player and manager whose two Bobby V’s restaurants in Stamford and Windsor Locks offer off-track betting, smiled when Gaughan noted his presence.
“You should know Bobby is our partner. He needs no introduction,” said Gaughan, adding Valentine would be available to talk business or baseball. “He’s a great guy.”
There were reminders that this is a business with a colorful past and a language all its own. Even in the high-tech world of betting apps, bettors still are grouped as unsophisticated “squares” and professional “sharps.” But for much of the day, the speakers in Salon F sounded like commodity traders, risk managers and tech nerds.
There certainly seems to be a lot of opportunities for both states wanting to offer sports betting, and websites wanted to join in as well.