Magna Global in their latest ad spending forecast noted; sports betting is becoming a major category; until now local and digital media have captured the bulk of the spending, but national TV will increase its share as it is legalized in ever more states (New York this year, California and Texas possibly in 2023).
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"This structure, and this disconnect, poses complications for both the regulator and the licensee themselves, and it also presents consumer protection concerns for the public," Wells said.
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Levant says it¡¯s ridiculous to have states, which benefit financially from sports gambling, regulating the industry. He says that while gaming companies may have messaging about betting responsibly, their goal is to make money. The only way to do that is to attract more gamblers who will bet more frequently. ¡°If you¡¯re going to have sports gambling, you can¡¯t have the regulator also be a partner of the companies,¡± he says.
And gaming companies are hoping sports betting will lead younger audiences to play online games like slots, blackjack, poker, and other traditional casino products, where the margins are much higher for the house.
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Massachusetts promotes online tools to help gamblers know when to "say when," including GameSense and PlayMyWay. But Warner urged for now, it is important to let kids be kids, and wait until they are of legal age before they are taught how to gamble.
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¡°That would have dropped my budget for the year by a lot,¡± says Sneyd, FanDuel¡¯s executive VP of marketing.