Sports Betting Machines: The Future of Sports Wagering
Last updated – June 11, 2019
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Until May 2018, a federal law known as the Professional and Amateur Sports Protection Act (PASPA) limits most legal sports betting to Nevada and three other states. That (PASPA) was overturned by the Supreme Court in favor of New Jersey, allowing state-sponsored betting.
What to Expect in a World Where States Can Legalize Sports Betting
Anticipating PASPA’s repeal, a handful of states have started the process by passing enabling legislation. Pennsylvania is one notable example. These changes to the law are paving the way for states to start offering legal sports betting in the next couple years.
What can we expect the future of sports betting to look like? According to a May 2017 Oxford Economics report, legalized sports betting is projected to generate $8.4 billion in new tax revenues, create more than 200,000 new jobs and add over $22 billion to the nation’s GDP. With a budding new industry on the horizon, businesses are working tirelessly to capitalize on the new opportunities being presented in the world of sports gambling.
Casinos will need to be well-prepared for the influx of new customers that will be flocking to their venues in hopes of placing their first legal sports bet. As a result, many casinos are finding that sports betting kiosks provide the needed automated self-service solution to handle a higher volume of sports wagers without requiring the need for additional customer service staff.
The Impact of Sports Betting Kiosks
With such anticipated economic growth in the gambling industry, casinos will need to do their best to streamline their betting services. Sports betting kiosks will be a key factor in perfecting this process as they will improve the customer experience and will increase betting revenues for operators.
Wagering kiosks will improve the customer experience by cutting down wait time. Customers will not be waiting in line to place a bet. With multiple betting kiosks available, customers will be able to place a wager whenever they please. In turn, this will also increase revenue with more total bets placed.
Where can I place a legal online sports bet?
New Jersey sports betting sites
New Jersey sports betting kicked off in June 2018, less than a month after the fall of PASPA. Online sports betting officially went live in New Jersey on August 6, 2018 when DraftKings Sportsbook launched. FanDuel Sportsbook launched its mobile app three weeks laster.
To date, there are 13 NJ sports betting apps on the market.
Pennsylvania sports betting sites
Pennsylvania sports betting started late in the game considering it had a law on the books in 2017, only launching in November. The Keystone State changed its law to allow legal sports betting anywhere within the state.
State regulators approved this year a set of rules for sports betting that includes mobile wagering. Retail sports betting is under way, and mobile sports betting is legal and will launch in spring 2019.
Nevada sports betting sites
Legal sports betting in Nevada did not change after the Supreme Court decision. Many Nevada casinos feature online and mobile sports betting platforms allowing you to wager anywhere in the state.
Geolocation technology on your device will ensure that you are located in Nevada before allowing you to bet. Bettors also must first establish an account in-person at a physical casino location before betting online. This includes verification of identification and a minimum cash deposit of between $50-$100 to fund the account.
West Virginia sports betting sites
West Virginia opened its sports betting operation in September. Only two public sportsbooks opened in 2018, and another started up at The Greenbrier, a private resort. West Virginia sports betting added the ability to bet via mobile in December 2018.
The state’s mobile app remains shut down as of March 2019 because of a dispute between technology providers.
Rhode Island sports betting sites
Rhode Island sports betting will go mobile by fall 2019 after Gov. Gina Raimondo signed a bill into law in March.
Rhode Island’s sports betting operation runs through the state lottery in partnership with William Hill, so the well-known bookmaker will provide the state’s app technology.
Mississippi sports betting sites
Sort of. Mississippi sports betting must be done within a land-based or water-based casino. However, state regulations allow for mobile wagering while on casino property, though only one tribal casino has launched it.
Benefits of Betting Kiosks
- Line queue management for burst cycles
- Increased betting revenues for operators
- Higher wagering levels
- Operators optimize their labor costs
- Accept cash, winning tickets, and vouchers
- Provide ADA accessible betting options for customers
Background – Fixed odds betting terminal
A fixed odds betting terminal (FOBT) is a type of electronic slot machine normally found in betting shops in the United Kingdom. The terminals allow players to bet on the outcome of various games and events which have fixed odds, with the theoretical percentage return to player (RTP) being displayed on the machine by law. Typically slot machine FOBTs have an RTP of 90% to 94% depending on the chosen stake, and standard roulette FOBTs have a long-term average RTP of 97%. Fixed odds betting terminals were introduced to UK shops in 2001.
The most commonly played game is roulette. The minimum amount wagered per spin is £1. The maximum bet cannot exceed a payout of £500 (i.e. putting £14.00 on a single number on roulette). The largest single payout cannot exceed £500. Token coins can be of value as low as five pence in some UK licensed betting offices (LBOs). Other games include bingo, simulated horseracing and greyhound racing, and a range of slot machine games.
Like all casino games, the ‘house’ (i.e. the betting shop) has a built-in advantage, with current margins on roulette games being between 2.7% and 5%.
Contact KI for more information on sports betting kiosk
|Craig is a senior staff writer for Kiosk Industry Group Association. He has 25 years of experience in the industry. He contributed to this article.|