Online Sports Betting with Will Hershey
There is an industry with immense revenue-generating potential which seems to be still largely untapped in the United States: online sports betting. In this episode, we’re joined by Will Hershey, Co-Founder and CEO Roundhill Investments, to review the beginnings of online gambling and its current landscape. In 2018 online gambling became legal at the federal level, giving individual states a the ability to decide how they want to deal with it (and some are doing so more successfully than others). In this fascinating conversation, we discuss the dramatic impacts that online sports betting could have on the sports industry as a whole, why there is so much nascent opportunity in this sector, some best and worst practice examples when it comes to regulating and taxing it, and a few mind-blowing statistics about just how big the industry is expected to be in a few years’ time!
Key Points From This Episode:
- Will provides us with a historical picture of gambling in the United States.
- What the repeal of PASPA in 2018 meant for online gambling.
- Current revenues being generated by sports betting and iGambling.
- The three categories of online gambling and how they are being treated differently from a regulation standpoint.
- Market opportunity that Will sees in Daily Fantasy versus sports betting.
- Why Will believes the highest revenue generating potential exists in iGaming.
- Will explains the model that New Jersey is using for sports betting, and why it works has worked so well.
- How online betting platforms are making themselves stand out.
- Sports betting as a “savior” for sports in general.
- B2B versus B2C players in the sports betting world.
- Parts of the world where online sports betting is in more mature phases.
- Changes that the shift from physical to digital is going to could bring about.
- Partnerships between online sports books and casinos.
- Ideas around what the future of betting could look like.