Connect with us

Sports Betting

US Integrity Helps Keep Sportsbooks and Leagues Safe

When it comes to sports betting, monitoring the data is a tall but extremely important task. That’s where U.S. Integrity comes in.

Adam White

Published

on

US Integrity - Sports Betting - Gambling

Throwing down a few bucks on your favorite horse or team has long been a way for people to enjoy extra excitement around what they are watching.

Beyond the obvious potential for financial gain, sports betting allows fans to have some “skin” in the game.

While walking up to a window, placing a bet, and then cashing it later (if you win) seems rather seamless to the end consumer, there are many different factors at play behind the scenes that make sure not only are the sportsbooks safe, but the leagues and its teams are too.

One of the companies helping do this is U.S. Integrity, a Las Vegas-based data company that provides its clients with reporting tools and analytics to allow them to detect concerns and apply best practices to ensure the highest integrity possible.

Matt Holt, the company’s president, likens the role they play to the PwC’s of the world.

“Our goal is to try to sort of be ‘Price Waterhouse’ in the middle and pull in as much data as possible and turn it into as many useful reports as possible to make sure that if things are going awry, we’re catching it early on and allowing the leagues and the sports books to get out in front of it.”

READ MORE: NHL and MGM Partnership Just Scratching the Surface of Sports Betting Potential

Specializing only in game integrity and fraud prevention consulting services, U.S. Integrity relies on its five core competencies when it comes to working with teams and leagues.

In the case of their football clients, these core competencies include line movement analysis, wagering activity report, injury/information analysis, an officials report, and then a report based on the outcome of how every play or penalty affected the outcome or spread of the game.

“All of this data is readily available to them in their dashboard, but since regulated sports betting is so new in many of these jurisdictions, we send the reports so we can walk through the data with them,” said Holt. “Our goal is to tell them what we found, why it’s important, and why it is sufficient. We have to be able to separate the white noise from the things that are actually potential integrity issues.”

Since the Supreme Court’s ruling in May to strike down PASPA, the sports betting landscape has exploded with partnerships, new states coming online, and interest from most of the big four leagues.

Still, in its infancy, Holt sees a regulated sports betting market that will continue to evolve over the next three to five years, but do so in a way that will be beneficial to all parties involved.

For himself and U.S. Integrity, the increased shift towards greater transparency is an area they are keeping a close eye on.

Likening it to the marijuana marketplace in Nevada where people can’t buy anything without a license that both identifies who they are and also helps track what it is that they are buying, Holt sees the regulated sports betting market headed that way.

“The difference in the next five years compared to what it (sports betting) was in the last 40 years will come down to transparency. You are seeing it now with sports books not allowing people to place bets as even as small as $500 or $1,000 without signing up for an account and providing certain data.”

More data equals more transparency, which equals more opportunity for companies like U.S. Integrity, which is a win for everyone involved, according to Holt.

“The more data that is available and can be monitored makes people really feel like the sports are really being monitored and that the games are really being played on a fair level. That kind of confidence turns into better and safer business for the sportsbooks. There is really nothing bad about it.”

Adam is the Founder and CEO of Front Office Sports. A University of Miami Alum, Adam has worked for opendorse, the Fiesta Bowl, and the University of Miami Athletic Department. He can be reached at adam@frntofficesport.com.

Sports Betting

March Madness Wagers Expected To Cross $8.5 Billion According to AGA

American Gaming Association and betting industry execs expect record amounts of action on this year’s March Madness, demonstrating fan engagement potential.

Avatar

Published

on

march-madness-betting

Photo Credit: Kareem Elgazzar/The Cincinnati Enquirer via USA TODAY NETWORK

As tens of millions of Americans turn away from work over the next few days, nearly as many will be making bets on who’s going all the way this March. More than 47 million Americans will wager $8.5 billion on the NCAA Men’s Basketball Tournament and much of it isn’t legal.

The huge amount of dollars riding on the tournament is placed by more than double those who bet on the Super Bowl, according to Bill Miller, president and CEO of the American Gaming Association, who released the study with those findings on Tuesday.

“There’s no question there is more interest among the general population on March Madness,” Miller said. “We know people want to bet on this.”

READ MORE: The Growth Has Only Begun For U.S. Sports Betting

The AGA survey found 57 percent of Americans said games would be more entertaining if a team they’d bet on is in the Final Four. Miller believes the NCAA knows betting on the game is a fan-engagement tool.

The huge amount of teams in March Madness and their related alumni make the betting opportunities especially attractive, said Kenny Rosenblatt, founder and president of Arkadium, an interactive content creative firm.

“It opens up the betting pool to more casual bettors,” Rosenblatt said. “They’re loyal to their alma maters.”

But it’s not just alumni. March Madness historically sees a lot of betting action, even in Europe, said Ian Bradley, Chief Strategy Officer at SBTech. Bradley expects the numbers to explode this year in the first NCAA Tournament since the Supreme Court overturned The Professional and Amateur Sports Protection Act of 1992, or PAPSA, last May.

“In the U.S., particularly the likes of Las Vegas, it will be massive,” Bradley said. “In the states with online sports betting, like New Jersey,  the timing of events and broken up nicely so customers get a nice schedule throughout the day. It will be very big.”

The survey found 40 million people will place friendly wagers in office pools or online contests, with more than 149 million brackets submitted and $4.6 billion on the line. Another 18 million people plan to bet $3.9 billion in sports books, online, with bookies or a friend.

Of those 18 million people, the AGA survey found 2.4 million will bet illegally with a bookie and another 5.2 million will bet online, likely illegally on an offshore site. While it stands to reason bettors prefer to know their bets will fall under the umbrella of consumer protections, Miller said it appears more bettors don’t know they’re betting illegally in their jurisdiction. Either way, it’s a blow to longstanding regulatory efforts. 

“We’ve long focused our effort on eradicating the illegal betting,” he said. “We’re making progress against those goals, but these results indicate we still have a lot to do.”

The bets are only set to grow in the coming years, as eight states have already legalized sports betting, with more likely to come. In January, AGA found of the $1 billion in sports wagers, more than half came outside Nevada. Twenty-two more states have active legislation to legalize sports betting.

Nevada, and Las Vegas, in particular, is likely to remain a hub of activity as bettors will make their way to the city for the resorts and entertainment options regardless of betting options, Bradley said. As betting opens up in more states, however, he expects sports betting will continue to migrate toward mobile options, much like it already has in Europe. Overseas betting is 70 percent on mobile, a direct inverse of U.S. betting, where about 70 percent of bets are placed in physical sportsbooks.

But the greatest shift of all could be toward in-play betting options which feature constantly updating lines and odds.

“It will take a bit of time to adjust,” Bradley said. “But I’m sure it goes similar to Europe. The U.S. TV coverage is amazing, the access to sports is amazing, so the in-play betting is a big opportunity.”

READ MORE: Super Bowl to Offer Insights Into the Future of Sports Betting

Unlike the classic model of pregame match betting, in-play betting options will allow real-time bets on whether a team will win after any point in the game as well as small prop bets, like if a basket will be scored on the next possession.

Just as having money riding on a match helps increase engagement among fans, Bradley believes the ability to constantly be engaged in new and enticing bets throughout a game will only further a fan’s commitment to a sport.

Miller agrees the ever-evolving American betting landscape already enhances the fan experience and will continue to do so in the future. According to the AGA’s data, sports bettors are younger, more diverse, more educated and wealthier than the average sports fan. Further engaging with that demographic could be lucrative for many parties.

“It’s a wildly popular entertainment option,” he said. “Implications go beyond revenue, but increasing the fan experience to offer new ways to interact with content.”

Continue Reading

Sports Betting

The Growth Has Only Begun For U.S. Sports Betting

With more states legalizing sports betting, teams, leagues, media companies and sportsbooks have plenty of growth opportunities in front of them.

Avatar

Published

on

Credit: Geoff Burke-USA TODAY Sports

Legalized sports betting is here and the sports business landscape has already begun to shift accordingly.

Since the overturning of the Professional and Amateur Sports Protection Act (PAPSA) by the U.S. Supreme Court last year, seven states have regulated sports betting, with three more on the cusp and another 31 states with more than 100 total bills in movement. The revenue potential for leagues and teams is enormous, not only through direct action but also trickle-down benefits tied to increased fan engagement.

“It will be a game-changer,” said NHL senior senior vice president of business development and global partnerships David Lehanski at a panel at South by Southwest. “There will be a lot of growth, so there is real scale for a league to monetize and leverage. We think all of that will come, but it’s hard to predict what it means to the leagues and one of the hardest things to do is temper the expectations right at the beginning.”

READ MORE: NHL and MGM Partnership Just Scratching the Surface of Sports Betting Potential

Unsurprisingly, the major sports control the majority of the market. All of the Big Four leagues have entered agreements with sports book operators, with the NHL, NBA and MLB partnering with MGM and the NFL dealing with Caesars. Football is king , with 35 percent of all betting action going towards the NFL and NCAA football, said Dan Shapiro, William Hill US vice president of strategy and business development. Basketball runs second at 30 percent and baseball clocks in at 20 percent. NHL trails with approximately 5 percent while the rest of the sports make up the remaining portion. That leaves a very small slice of pie for everyone else, and Shapiro predicts it will be an uphill climb for other leagues to mount a true challenge.

“The four major sports are very liquid markets,” Shapiro said. “It’s tough to gain that traction to really have betting markets, but we welcome innovation and we’ll put it on the board as long as it’s a league that monitors and has standards and protections.”

Yet perhaps the most important question regarding legalized sports better isn’t where or on what, but how. In the U.S., for instance, 70 percent of betting is done before play starts. But according to David Sergeant, the vice president of sports betting innovation at iGaming Ideas, the reverse is true in other countries with legal betting. And considering regions like Great Britain have a 60-year head start on legalized gambling, the U.S. may ultimately follow someone else’s lead versus blaze its own trail.

If that’s the case, get ready for plenty of mobile activity. In Europe, where betting is legalized outside the United Kingdom as well, between 75 and 90 percent of betting is done on mobile phones according to Laila Mintas, chairwoman of the Bet.Works advisory board. Mintas also expects major media opportunities to come to the table. Some companies, like ESPN and CBS Sports, already are producing original content. The sponsorship windfall could be massive.

“They have a user base and they know their customers,” she said. “For them to add sports betting to an audience that already is there is interesting. Even a big one, like Amazon or Facebook, must be looking at getting into the space or monetizing somehow. I think that’s coming.”

So, too, are workarounds for potential corruption. The involvement of players, coaches and referees in sports betting has been an age-old fear in sports. Mintas believes it’s a valid one, too, and referenced multiple European examples of players getting blackmailed. The U.S. is not immune, either, with former NBA referee Tim Donaghy being a recent prime example

READ MORE: VSiN Aims to Alter Sports-Talk Content As Sports Betting Takes Hold

The way around it, Mintas said, involves having a solid system in place with educational resources for players in case they are approached and placed in a compromising situation. Regulating the industry can also help make it more transparent and maintain integrity for teams, leagues and the sportsbooks, Shapiro said.

“The notion betting makes sports more in danger is counterintuitive,” he said. “There’s billions being bet offshore, bring that into the sunlight. Providing full transparency seems to be the way to monitor and prevent issues with integrity.”

The opportunities, however, dwarf the concerns. Expect to see much more growth in the months ahead.

Continue Reading

Sports Betting

VSiN Aims to Alter Sports-Talk Content As Sports Betting Takes Hold

The mission of VSiN is to offer insight beyond commentator opinions and inform bettors on how various aspects of the games might affect outcomes.

Avatar

Published

on

vsin-media-content

Photo credit: VSiN

Always on the periphery of the sports industry, Brian Musburger knew the mainstream sports media outlets were ignoring a large segment of the audience.

Believing sports betting legalization was inevitable, Musburger felt it was time to launch a media company focused on sports wagering, so in 2017, Vegas Stats & Information Network, or VSiN, was launched. Musburger’s inclination was right and a U.S. Supreme Court ruling in May 2018 made sports betting legal nationwide — and now states are gradually changing their laws.

Eight states have fully legalized sports betting, with 30 more with at least some talk of legalization.

Musburger even likened the stigma of sports betting to that of marijuana.

“We’re thrilled with how things have developed and the position we have now,” Musburger said. “Just about everybody participates in an NCAA pool or wagers on the Super Bowl, but no one wants to talk about it.”

The mission of VSiN is to offer insight beyond commentator opinions and inform bettors on how various aspects of the games might affect outcomes. Musburger believes VSiN is elevating the idea of sports-talk media and makes the content more interesting to every sports fan — not just those wagering with money on the line.

READ MORE: CBS Sports HQ Places Its Bets on Sports Betting Show

“People thought we were crazy, but now they see it’s a more intelligent form,” Musburger said. “It’s not two guys yelling at each other about who’s the best point guard of all time; there’s no utility to that. I learn stuff every day in the types of content we’re creating.

“What we’re talking about is thought-provoking and enlightening, not necessarily things I’d associate with sports talk.”

Musburger brought on his uncle, legendary broadcaster Brent Musburger, but also wanted a lineup of contributors who aren’t traditional broadcasters. He wanted true experts in sports, those who are authentic and knowledgable, not just polished broadcasters, to help the audience learn something new every time they hit the airwaves.

The border between sports betting and the professional leagues has eroded quickly, as all big four leagues signed partnership deals with gaming companies — NBA, NHL, and MLB partnered with MGM, while the NFL went with Caesars — and more media companies are already thinking about the future of how in-game betting plays into broadcasts.

Being based in Las Vegas gives VSiN a solid foundation in the capital of gambling and provides the contributors an inside look at the industry. Musburger said there’s been the negative stigma and fear of gambling interfering in sports. Instead, he said no entities have more invested in clean contests than the gaming companies.

“The folks setting the lines and running the books, they don’t want anything negative happening,” he said.

But the professional leagues easing barriers to the betting industry will open a floodgate of advertising. With perceived approval from the leagues to support content about sports betting, Musburger said there will be few better opportunities for mainstream advertisers to reach men aged 21-54.

“A lot of media companies will be chasing the advertising dollars coming into this,” Musburger said. “All of them need to have content. People will battle and spend a lot of money to bring those customers and bring in those relationships. It would be foolish to ignore this audience.”

READ MORE: Super Bowl to Offer Insights Into the Future of Sports Betting

VSiN has 24/7 content on SiriusXM and fuboTV, as well as its website and apps. It also has one-minute updates on more than 100 radio stations and syndicated analysis in newspapers like the New York Post and Las Vegas Review-Journal.

Musburger said more streaming deals are in the works. For the Super Bowl this year, VSiN aired a 24-hour pregame show and discussed hundreds of prop bets. The network also broadcast a “bet cast” during the game.

Content is fed to consumers in a variety of ways, and Musberger said one of the more astounding stats to him is consuming video through devices at 27 minutes at a time.

“We’re thrilled with how we’ve grown in two years,” he said. “We had the benefit of being a new media company and our goal is to allow the consumer to take in our content in whatever method is most convenient to them.”

Continue Reading

Trending