The legalization of sports betting by the U.S. Supreme Court decision in May has unleashed a tsunami of interest in sports betting from the U.S. gaming industry. From land-based sports books to lottery to mobile, sports betting has moved to the top of the agenda for casinos. And G2E is leading the way with a Sports Betting Symposium that will be kicked off by a keynote discussion with the lead anchor for ESPN’s SportsCenter, Scott Van Pelt.
With the Supreme Court’s decision to overturn the Professional and Amateur Sports Protection Act (PASPA), the failed federal ban on sports betting, jurisdictions can now decide if legalized, regulated sports betting is right for them. What are the implications for key stakeholders—such as sports leagues, the media, the gaming industry, and more—and what does the landscape look like in 2019 and beyond?
The interview-style discussion, led by AGA’s Senior Vice President of Public Affairs Sara Slane, will focus on the implications of a legalized sports betting market for key stakeholders following the Supreme Court’s decision to overturn PASPA. Van Pelt and Slane, who led AGA’s efforts to pave the way for legalized sports betting, will also map out the projected sports betting landscape for 2019 and beyond.
“From the start, Scott Van Pelt was one of the first to give attention to the potential benefits of a legal, regulated sports betting market in the United States,” says Slane. “Now that more jurisdictions across the country have begun offering sports betting, there could be no better time to hear his insight on the evolving state of play and the overarching benefits from this new sector of the American gaming industry.”
Swimming with the Sharks
Every year, there are thousands of ideas to improve the gaming industry, whether it’s a new slot machine or table game, or simply a way to enhance technology to elevate the casino experience. And for most of these innovators, the idea doesn’t go any farther, because the path to market is so rocky and fraught with dangers—and expense.
This year, G2E will try to alleviate that. The show is offering a chance for gaming industry startups, students and inventors to pitch their ideas and innovations in a setting based on the popular TV show Shark Tank.
G2E will host one of the stars of the ABC/CNBC series, Fubu founder and CEO Daymond John, to serve as a judge along with Cindy Eckert, founder of The Pink Ceiling and CEO of Sprout, as contestants present their creations before a live audience at the G2E Innovation Incubator on October 11.
The two will select a winner, the “Shark’s Choice,” who will receive $10,000 and a complimentary 10-foot-by-10-foot booth to showcase their product at the 2019 show.
A panel of gaming industry experts will select four finalists from the list of submissions to present their concepts to John and Eckert, where they’ll submit to a fast-paced question-and-answer session as the two business leaders look to explore each of the opportunities.
The finalists will compete in four categories: gaming floor innovation; hospitality and resort developments; solving/streamlining regulatory challenges; and greater efficiencies for operators/suppliers.
There also will be a second-place “Customer’s Choice” winner, selected by the audience, who also will receive complimentary exhibit space at the 2019 show. Six additional runners-up, chosen by the panel of experts, will be able to present their ideas throughout the day on October 11 at the AGA’s Innovation Lab on the main show floor.
“The contest builds off the Global Gaming Expo’s commitment to featuring the newest technologies in the market,” says Allie Barth, vice president of industry relations for the American Gaming Association, co-producer of the show. “We’re excited to bring the business ideas of students and startups to the forefront through this new event.”
John, best-known for building urban clothing line Fubu into a $6 billion business, is in his eighth season as a Shark Tank regular. Eckert has headed venture capital and consulting firm The Pink Ceiling since 2016 and has personally invested $15 million across 10 different health technology companies at various stages of development.