The world post-COVID-19 is going to be different in a lot of ways. It might result in state lawmakers passing the legislation to legalize mobile sports betting and online gambling.
The above conclusion was reached at the inaugural SBC Digital Summit. There were various participants on the remote call, including certain gaming industry consultants and executives such as John Pappas- the founder and CEO of Corridor Consulting.
Pappas, who is the former executive director of the Poker Players Alliance, has said that in his opinion, one of the good things that the gaming industry will get out of the current COVID-19 pandemic is the expansion of online gaming legally. He has said that industry leaders will also need to educate lawmakers who are unfamiliar with the legalities of internet gambling.
“We need to be cautious going into states that need the revenue,” Pappas stated. “We need to educate them on why having a competitive market with low tax rates and reasonable fees will create more revenue in the long term, instead of trying to get as much as they can out of this industry in a short amount of time and how that is really not the best policy.”
Presently, online casinos are only accessible by people located within Pennsylvania, Delaware, and New Jersey. Nevada currently allows interactive poker to be played.
All commercial casinos and tribal gaming resorts have closed because of the corona virus. This was a cause of devastation for the gaming companies, including Native American tribes. These tribes rely greatly on casino revenue to financially support their sovereign nations.
Certain tribal casinos have opened again or are moving towards welcoming guests once more. However, commercial casinos are staying shuttered as per the state orders.
"Even when we come out of this, there won't be a date where everyone says, 'Come out of your houses, and you're free to do whatever you want,'" said Matt Carey of Vixio Regulatory Intelligence, a DC-based firm that works with gaming companies and payment processes on regulatory developments.
“This is going to be a staggered transition back,” Carey continued. “There will still be a segment of the population that won’t be rushing to the nearest casino even when they reopen. Real Money Online casinos will be a big help to them.”
In Pennsylvania and New Jersey, internet casinos have witnessed a surge in play.
iGaming from Garden State has jumped by 65.6% in March to $64.8 million, with all casinos in Atlantic city being shuttered down. In Keystone State, gross gaming online has collected a total of $24.3 million. Last summer, online gaming in Pennsylvania had gone live.
Sports Betting Lead
Just three states in the country permit online casinos. Eleven states that run authorized sports betting centers have only been able to do so by allowing wagers to get placed remotely.
As many as 18 states today have legal sports operational; however, the COVID shutdown might convince different states to allow their sports books online. There haven’t been a lot of issues now that states have restricted their bets to include such boundaries, which is a leading concern for many critics to mobile sports betting and online gambling.