Sports Betting, State Lotteries: Not Mutually Exclusive

Sports betting, as seen on BetNow.eu, is going through some very interesting times. The current debate on sports gambling in the United States is setting the stage for millions of Americans who enjoy placing a wager or three on their favorite team to do so in a more open manner. The social stigma that is associated with this activity forces many people to live the life of a closeted gambler. And yet, the US online betting market is arguably one of the largest in the world, with a gross gaming revenue estimated to range from $1.6bn to $11.9bn. That is one huge closet.

This is a golden opportunity for state lotteries to get off their high horse, admit that what they do is, like insurance, a form of gambling, and, in the process, get a piece of the action. Otherwise, they may be left in the dust of sports gambling, like Blockbuster bit the dust in the wake of Netflix. State lotteries must be an active participant in this brave, new market with a product that is socially accepted, transpicuous, simple, dependable, and designed specifically to address local demand. State Lotteries could use their longstanding retail network to make and increase cognizance of their own brand of sports betting, making it available to a larger target market. Moreover, the cross-sales effect can generate a customer flow from the gambling sector this creating an added revenue stream which could be used for charity, and beneficence, and all that bleeding-heart stuff.

by taking advantage of customer and market proficiency, as well as using a more sustainable operational model including online and retail offerings and zeroing in on events and markets that are of particular interest to the population of a given state (i.e., NASCAR in Indiana), State Lotteries can achieve the twofold goal of keeping their already established market share and tap an even larger market. All things considered, State Lotteries with the image and brand of a trustworthy organization that has been in operation for many years in the States, should take it upon themselves to play an instrumental part or even lead the State licensing and expansion process, advising operators on the best way to enter the market (how they apply for a license, how many licenses are available per State, taxation, whether a retail presence is necessary to operate) while simultaneously leading by example as it pertains to responsible gaming, in order to guarantee the safety and security of customers.

And if it all goes well, it could be like that show from the early 80’s in which these two guys traveled all over the country locating lottery winners and putting them in position of their winnings, with dramatic an comedic results. What was it called? Of course, in this day and age, such a way to go about things is completely obsolete but still, it was nice little show. Too bad they had to cancel it. Maybe it’s on Netflix now. What was it called? Oh, that’s right; it was called Lottery! Duh.