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Future of US Online Gambling: 2025 Framework Revealed

US-legislators-crafting-model-legislation-to-create-pathway-to-legal-igamingIn a pivotal moment for online gambling legislation, stakeholders and legislators are now poised to embrace a comprehensive framework that will shape the future of internet gambling across the United States from 2025 onwards. This initiative was detailed at the recent National Council of Legislators from Gaming States (NCLGS) conference in Pittsburgh.

Drafting the New Framework

Former Florida State Senator Steve Geller played a central role at the NCLGS conference, detailing anticipated components of upcoming legal iGaming legislation and moderating a robust discussion with a diverse panel of regulators and industry stakeholders.

This group vigorously debated the priorities and strategies essential for the successful implementation of the legislation. According to Geller, the proposal suggests a tax rate of 15%-25%, which aligns with the current average of 19% observed across the seven states where online gambling is legal.

The proposed legislation is ambitious, covering a range of critical areas including:

  • Revenue generation
  • Responsible gaming
  • Addressing the cannibalization debate
  • Establishing advertising standards
  • Licensing frameworks
  • Setting age restrictions
  • Enhancing data sharing mechanisms

Timeline for Legislation

Shawn Fluharty, NCLGS president and a West Virginia state representative, announced plans to circulate a draft of this legislation among NCLGS members by August 1st. This will kickstart a 30-day public commentary period. Subsequent revisions will be informed by this feedback, with a final draft expected to be presented at the NCLGS winter meeting in New Orleans from December 12-15.

States Embracing Online Gambling

While nearly 40 states have legalized some form of sports betting following the 2018 Supreme Court decision, only a handful, including West Virginia, Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and Rhode Island, currently allow comprehensive online gambling. The distinctions between sports betting and casino gaming are significant, as noted by Lee Copella, iGaming compliance director at the Pennsylvania Gaming Control Board. Copella emphasized the more stable and predictable revenue stream from casino gaming compared to the fluctuating nature of sports betting.

Maryland’s Legislative Journey

In Maryland, State Senator Ronald Watson has been a prominent advocate for legalizing online gambling, underscoring the necessity of treating the legislative process akin to a campaign. He highlighted the importance of extensive educational efforts aimed at both legislators and the public. Maryland’s approach involves putting gaming expansion decisions directly to voters, with the next opportunity slated for 2026.

Economic Considerations and Technology Implications

The financial implications of online gambling are significant, with tax revenues from digital gaming outpacing those from sports betting by a substantial margin. This revenue potential is crucial, especially as states begin to feel the economic pinch from depleted COVID relief funds. The importance of technological standards and anti-money laundering measures was also a key focus of the discussions, with David Rebuck, former head of the New Jersey Division of Gaming Enforcement, advocating for high regulatory standards to ensure a secure and reliable gaming environment.

Overcoming the Cannibalization Myth

The debate over the potential cannibalization of physical casinos by online platforms continues, but as Bill Pascrell III of the Princeton Group argued, this concern has been largely debunked by data from states like New Jersey, which shows minimal impact on traditional casino revenues and employment.

Source:

US legislators crafting model legislation to create pathway to legal igaming, igamingbusiness.com, July 22, 2024.

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Online Sports Betting Payment Preferences Revealed Thanks to the Paysafe Research!

In the world of online sports betting, payment methods are more than just transactions, they’re integral to the player experience. Paysafe’s comprehensive research delves into the intricate nuances of bettors’ picks, shedding light on how these choices influence their engagement with sportsbooks.

Streamlined Payouts

paysafe_research_stronger_online_betting_experience_starts_with_paymentsAccording to Paysafe’s research that was conducted across six United States (Massachusetts Michigan, New Jersey, New York, Ohio, and Pennsylvania), the Canadian province of Ontario, the United Kingdom, France, Germany, and Italy in December of 2023, the rapid withdrawals are a top priority for bettors worldwide. Surpassing factors like brand confidence and probabilities, players prioritize sportsbooks that offer swift and hassle-free payouts. This focus on streamlined transactions highlights the importance of efficient payment processing in enhancing the overall betting journey.

In addition to speedy payouts, bettors seek platforms that support their preferred payment methods. Paysafe’s findings reveal that seamless deposits are a crucial consideration for players when selecting a sportsbook. The availability of various payment options, ranging from traditional methods like debit cards to emerging alternatives such as digital wallets and eCash, is instrumental in catering to the diverse needs of players.

Player Retention

Beyond attracting new customers, maintaining player loyalty is paramount for sportsbooks. Paysafe’s research indicates that a seamless payment experience significantly contributes to customer retention. With 78% of bettors valuing payment satisfaction in their decision to remain loyal to a brand, sportsbooks must prioritize the optimization of their payment processes to foster long-term relationships with players.

The emergence of digital wallets as a preferred payment method is a notable trend highlighted in Paysafe’s research. Digital wallets offer convenience and security, appealing to a growing segment of bettors, particularly in regions like Italy and Germany.

Despite regulatory constraints in certain markets, credit cards maintain their popularity among bettors, especially in regions like France. Additionally, the research underscores the significant interest in eCash, particularly in countries with a strong cash culture such as Germany and the United States.

Localized payment options, tailored to regional preferences, are favored by a substantial portion of players. These LPMs cater to the specific needs and preferences of players, contributing to a seamless betting experience.

Security and Future Trends

While players generally express confidence in transactional security, continuous efforts are required to address any concerns and maintain trust. Sportsbooks must prioritize robust security measures to safeguard player data and financial transactions.

Looking ahead, the adoption of alternative payment methods is expected to grow significantly. Digital wallets and eCash are poised for increased usage, offering players greater flexibility and convenience in their transactions.

Interest in Cryptocurrency

Despite market volatility, cryptocurrency paymentsgarner significant interest among players, particularly in regions like the United States. This highlights the potential for cryptocurrency to emerge as a viable payment option in the future, offering players additional choice and flexibility.

The Global Gaming President for Paysafe, Zak Cutler said: “Our latest research clearly indicates the value of payments to online sportsbook operators at all stages of the player experience. Operators that optimize their payment offering will gain a competitive advantage when starting their brand’s relationship with new bettors. Given the correlation between the payment experience and brand loyalty, operators can maximize player retention by getting payments right. This includes upgrading their cashiers to cover all possible payment choices to meet evolving transactional expectations.”

Source: ”Paysafe Research: Stronger Online Betting Experience Starts with Payments”. European Gaming. February 8, 2024.

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Taylor Swift and Travis Kelce’s Las Vegas Hideout Revealed

Britain’s Daily Mail has leaked the location where America’s most beloved celebrity couple will sleep the night before the Super Bowl. Or at least, Taylor Swift and Travis Kelce will try to sleep.

“Villa de Swelce” features four bedrooms and six bathrooms in nearly 9K square feet of living space, with 300 feet of private waterfront. (Image: Zillow)

Kansas City Chiefs tight end Travis Kelce rented the opulent villa on Lake Las Vegas because it’s a short distance from the posh Westin Lake Las Vegas, where his teammates are staying prior to the big game. And, quite understandably, he wanted more privacy than that.

Zillow values the residence at $8.5M, though it is not currently on the market. (Image: Zillow)

Kelce arrived in Las Vegas on Sunday night. Swift’s private jet is expected to land in Las Vegas, from an “Eras Tour” concert in Tokyo — around 10:30 p.m. Saturday, barring any unfortunate delays.

One of four of the villa’s bedrooms that look out on Lake Las Vegas. (Image: Zillow)

The isolated villa, in one of Lake Las Vegas’ newest communities, features four bedrooms and six bathrooms in nearly 9K square feet of living space, with 300 feet of private waterfront.

No Sinning

Both teams are being housed/detained in Lake Las Vegas, 25 miles east of the Las Vegas Strip, with daily getaways only to separate practice facilities.

This is so the temptations of Sin City don’t distract any players from their strenuous physical and mental preparations.

Lake Las Vegas features a dozen fancy restaurants and a couple of bars, but no nightclubs or wild nightlife.

It used to have a casino with a sportsbook, which definitely would have been a no-no for both Super Bowl teams. However, Casino MonteLago closed in 2013. (The NFL once prohibited its players from wagering on any sports games. That meant an active player couldn’t even visit Las Vegas and place a bet on the NBA playoffs. However, it has relaxed rules and NFL players are allowed to place bets that aren’t on football.)

The police presence, and the team’s tour buses, are shown in front of the Westin Lake Las Vegas. (Image: Daily Mail)

The San Francisco 49ers are staying at the Hilton Lake Las Vegas, a mile southeast and across the lake’s shore.

While the Chiefs are practicing at the Raiders’ nearby Intermountain Healthcare Performance Center in Henderson, the 49ers have a farther drive. They’re 16 miles away, at UNLV’s Intramural Field, where the Raiders’ opponents always practice. (This is because the AFC and NFC champs alternate home and away designations every Super Bowl.)

Lake Las Vegas is also home to Celine Dion, who raised her three sons there while performing two residencies at Caesars Palace.

Sorry, Swifties. All of Lake Las Vegas is currently crawling with police and there is only one road in and out, a road that officers are only allowing local residents to enter.

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Eleventh Winner Of Popular Dream Drop Mega Jackpot Revealed By Relax Gaming

Relax Gaming, an iGaming aggregator and developer, has officially announced its 11th winner of the popular Dream Drop Mega Jackpot, which was won when a lucky player activated the said jackpot with Jackpothunter.com online casino.

Winning the ultimate prize

After a player placed a bet of €2 on the Volatile Vikings Dream Drop slot, they won a whopping €2.976.908.13, automatically making them the eleventh lucky player to win a seven-figure sum in just a little more than a year, showing that Relax’s rewards from its innovative game portfolio are there for players to take. What’s more, this newest announcement took place just 4 hours after one more fortunate player won another Major jackpot while trying their luck on another Dream Drop Jackpot slot game.

Commenting on the win, Simon Hammon, CEO of Relax Gaming, said: “The way that Dream Drop has changed the industry never ceases to amaze us, and to create eleven millionaires in just over a year has exceeded our expectations. We knew the Dream Drop Jackpot would perform well with players and operators alike, and to see this become a reality is a constant source of pride. We would like to send our congratulations to the lucky winner, and we eagerly anticipate the twelfth millionaire.”

Jackpothunter casino added: “It is truly a delight to be the casino that has played host to the eleventh Dream Drop Mega Jackpot winner! Everyone at Jackpothunter is excited to see such an impressive win happen on our platform, it validates where our brand is heading as we make winning jackpots easier. The integration of Relax titles has been a huge boost to our brand and we are delighted to have played a part in creating this win.”

Description of Volatile Vikings Dream Drop slot

Volatile Vikings Dream Drop was officially added to Relax’s portfolio in July 2022 and includes a lot of thrilling mechanics and features which involve state-of-the-art Multiplier Reveal and a useful Free Spins bonus round. But that’s not all; because it also involves the Dream Drop progressive jackpot.

About

Relax Gaming was founded and officially launched in 2010 with headquarters in Malta. Since then, the company has experienced incredible growth and today their rapidly-growing, independently created game portfolio includes more than 4,000 online casino games. Its partners are B2B companies, which the company supplies with its iGaming content.

This outstanding, innovative iGaming supplier is present in key global markets through cooperation with its B2B partners. Its most recent awards include: Casino/Slot Developer of the year at the SBC Awards, Best Mobile Gaming Software Provider at the EGR B2B Awards and Best Game Provider at the AskGamblers Awards. Also, its amazing gaming platform is composed of aggregated content. Some of these are: video slots, online casinos, poker and bingo, which operators can access via simple integration to increase player engagement and profit.

One of the main reasons why Relax is the leading aggregator of the iGaming industry is because it is backed by innovative technology, which means it has the ability to give operators the opportunity to activate a range of features that increase user satisfaction and engagement and encourage extended play.

Source: “Relax Gaming crowns eleventh millionaire with Jackpothunter Dream Drop Win”. European Gaming, October 30, 2023.

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$2B Powerball Winner Identity Revealed, California Man Skips Lottery Celebration

November’s $2.04 billion Powerball winner has come forward and revealed his name, but the lucky man who claimed the all-time richest lottery jackpot in US history isn’t looking for additional publicity.

Powerball California Lottery $2.04 billion jackpot
California Lottery Director Alva Johnson announces the November 2022 winner of the richest Powerball prize in history. The lucky winner of the $2.04 billion jackpot, Edwin Castro, chose not to attend the publicity event in hopes of remaining as private as possible. (Image: California Lottery)

After 40 consecutive drawings without a jackpot winner, Powerball’s November 7 drawing offered up a prize north of $2 billion. The winning numbers that night were 10-33-41-47-56 and red Powerball 10.

The Multi-State Lottery Association (MUSL), which operates Powerball for the lottery game’s 48 participating jurisdictions, soon after announced that a single ticket had matched all six numbers to claim the $2.04 billion prize.

California lottery rules require that winners allow their identities to be made public and the retail location of where their ticket was purchased to be known. California mandates that winners’ identities be disclosed in order to maintain public trust in the lottery system.

The California Lottery on Valentine’s Day announced that the $2.04 billion winner was Edwin Castro. The lottery did not specify his age or occupation, nor what he plans to do with the money.

Cash Option Chosen

The California Lottery said Castro respectfully declined the opportunity to appear publicly and wishes to remain private. But he did issue a statement that celebrated the school tax benefit that his historic Powerball win will provide California schools.

As much as I am shocked and ecstatic to have won the Powerball drawing, the real winner is the California public school system. The mission of the California Lottery, which is to provide supplemental funding for California public education — both public schools and colleges — makes this a huge win for the state.”

“As someone who received the rewards of being educated in the California public education system, it’s gratifying to hear that, as a result of my win, the California school system greatly benefits as well,” Castro’s statement, which reads like it might have been crafted in part with lottery officials, continued.

The California Lottery primarily benefits public education in the state. The lottery says 34 cents of every dollar raised goes back to public schools and colleges.

Since the lottery’s inception in 1985, it has benefited public schools and colleges to the tune of more than $41 billion. The $2 billion in lottery proceeds that went to public education during the state’s 2021-22 fiscal year accounted for just 1% of the state’s annual budget for its public school system.

Castro opted for the one-time cash option of $997.6 million. After the federal tax of 37%, Castro’s net haul comes to about $628.5 million. Fortunately for Castro, California doesn’t tax lottery winnings as personal income, and therefore, his riches won’t be further taxed by his home state.

$1M for Local Retailer

Castro wasn’t the only big winner during the November 7 Powerball drawing. The California Lottery said Castro purchased his ticket at Joe’s Service Center in Altadena, which is a Mobil gas station in Los Angeles County and an authorized California Lottery retailer.

For selling the record ticket, Joe’s Service Center received a $1 million commission. The business’s owner is a Syrian immigrant named Joe Chahayed.

Altadena is about 15 miles northeast of downtown Los Angeles and just north of Pasadena in the Verdugo Mountains.

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