What is New on the Sports Betting Arena?
DraftKings is a sports betting operator based in the United States. It has recently joined the International Betting Integrity or IBIA. As a new member, DraftKings is expected to provide information to the group about suspicious sports betting activities.
This new membership will further enhance and bring IBIA closer to its goal—to strengthen the integrity of sports betting. The group monitors global activities, and it serves as an international alert platform for suspicious and illegal betting activities.
DraftKings is a huge company. It is not just an operator but also a supplier. To date, it powers 50 operators, and they cover more than 15 regulated markets not just in the United States but around the world. As the partnership matures, IBIA can now monitor more sports betting sites, including legitimate ones like Vulkan Bet, to see if everyone is compliant with the laws and expectations in the industry.
IBIA protects its members from bad practices, including corruption, and they have a platform that serves this very purpose. It is an anti-corruption tool that not only detects anomalies and suspicious activities but reports them to the group.
The CEO of IBIA said that the addition of DraftKings in the roster will boost the group’s efforts, that it will enhance the monitoring capabilities of the organization in terms of customer monitoring and the sports betting market in general. This comes really in a timely fashion. As of April of 2020, there have been 61 occurrences of suspicious betting activity. The group has also seen a 36% rise in these activities quarter on quarter.
The states of Louisiana, Maryland, and South Dakota are about to legalize sports betting. They are likely to pass the bill on election day this November 2020. It is highly likely that the three states will vote yes, so they can start generating revenues for themselves.
This decision comes after the fact that they have residents who bet on sports betting in other states, which means that they are losing on these revenue streams.
Recently, the country has seen a big rise in the sports betting industry, and this is mainly due to the pandemic. People cannot go out and go to casinos, and the alternative is to bet on sports online.
The decision will come after the election, as the referendum comes in the election ballots in November. The people have to vote. To date, there are 19 states in the US where sports betting is legal.
Also, there are four more states that have passed bills legalizing sports betting, and they are just waiting to launch. On the other hand, there are nine states that have active bills about legalizing sports betting, but these bills are still under review.
Out of the three, Louisiana is more likely to pass the bill. It has already passed a similar bill back in 2018 called the Daily Fantasy Sports bill.
The thing is that even after passing the bill, it may take more than a few years for companies to launch their platforms, as building online sports betting systems takes a while.
MGM Resorts and the NBA announced their multi-year partnership today, making MGM Resorts the official gaming partner of NBA, along with WNBA.
This announcement is expected to bring millions of fans and basketball enthusiasts to bet on the sport. This is the very first partnership of the NBA with a gaming operator in sports betting, and MGM will use NBA’s data and branding in its marketing campaigns.
This marketing strategy includes the physical locations of MGM, not just in its online presence. The branding is non-exclusive, and fans should be able to see more in both land-based and online sites of MGM across the country.
Both MGM and NBA are expected to comply with best practices in online sports betting, which includes but is not limited to the anonymity of the bettors. What this means is that they will share data with one another, but the private information of bettors will not be shared.
We can also expect that it will take some time for the two companies to build the data integration processes and complete the merger of new systems to make this partnership happen. They are also looking at creating a special series of digital content for this partnership.
MGM is going to promote NBA content on multiple platforms. MGM will also be promoted by the NBA in different platforms like the NBA App, NBA TV, social media, and many more.