Congressional Committee Hearing On Sports Betting Scheduled (Update)
Judiciary Subcommittee on Crime, Terrorism, Homeland Security and Investigation chairman Jim Sensenbrenner confirms September 27 hearing date
On Thursday Jim Sensenbrenner, the chairman of the House Judiciary Subcommittee on Crime, Terrorism, Homeland Security and Investigation confirmed that a hearing will be held September 27 titled “An Examination of Sports Betting in America’.
The announcement follows earlier rumours of such a hearing after warnings by Democratic Party Senators Chuck Schumer and Orrin Hatch that there is a need for federal government involvement in the burgeoning and recently liberated US sports betting scene (see previous InfoPowa reports).
Since the US Supreme Court overturned the PASPA federal ban on sports betting in May this year, Delaware, Mississippi, New Jersey and West Virginia have joined Nevada in offering sports wagering, with several other states embarking on regulatory processes.
“My subcommittee will look at the implications of this SCOTUS ruling and talk about what it means for the integrity of sports as well as what sorts of improper or illicit activities could arise,” Sensenbrenner said.
“Ultimately, we want to determine whether or not a basic federal framework is necessary to guide states’ new gambling policies.”
Whilst the sports leagues have applauded the federal initiative, having implacably opposed more liberalised sports betting for years, the American Gaming Association has warned that state’ rights regarding gambling need to be respected, and suggested that the states themselves are more than capable of handling the rapidly growing business.
AGA spokesperson Sara Sloane has confirmed that the Association will be present at the hearing and looks forward to “discussing the US gaming industry’s core principles for legalised sports betting with the Judiciary Committee at next week’s hearing”.
Witness List Grows For Congressional Hearing On Sports Betting (Update)
Thursday’s hearing will be attended and addressed by the Coalition to Stop Internet Gambling
The US federal government’s move to become relevant in the burgeoning US state-by-state sports betting space will see the House Subcommittee on Crime, Terrorism, Homeland Security, and Investigations meet at 10 a.m. Thursday on Capitol Hill to hear evidence.
The witness list published thus far includes Sheldon Adelson‘s Coalition to Stop Internet Gambling, which will be represented by former Nebraska Attorney General Jon Bruning, presumably to place the group’s anti-internet gambling position on the record.
Other witnesses include:
Jocelyn Moore, executive vice president of communications and public affairs at the NFL;
Sara Slane, senior vice president of public affairs at the American Gaming Association;
Becky Harris, chair of the Nevada Gaming Control Board;
John Warren Kindt, professor at the University of Illinois, who is known for some rather extreme views on internet gambling.
The chair of the sub-committee, Rep. Jim Sensenbrenner said this week that the witnesses represent a wide variety of opinion on sports betting, which the committee looks forward to discussing.
Online Sportsbook Start-Up Raises $10 Million In Series A Funding
Las Vegas-based Metric Gaming an up-and-coming force in the rising US sports betting market
Las Vegas-based online sportsbook and real-time data services start-up Metric Gaming reports that it has secured $10 million in a series A funding round.
CEO Martin de Knijff founded the company in 2013 with the goal of becoming a top developer of sports betting proprietary products and platform provisioning.
“Metric’s B2B value proposition – a turnkey, mobile-optimized solution that includes the transaction platform, front-end, trading, operations, risk management, product and unique content – is backed by pedigree and expertise built on both sides of the Atlantic, and will enable operators to quickly and efficiently capture market share,” he said
The funding round was managed by the New York RDA Ventures fund, and its completion is in synch with the newly liberalised US sports betting market and the growing interest of individual states in regulating and taxing the activity.
David Broser, president of RDA Ventures, said, “The combination of Metric’s product suite, services and management talent made this an easy investment for us. Metric is uniquely positioned as a sports betting B2B provider with advanced expertise that’s rare in the U.S., and we’re excited to be on the ground floor with such a compelling player in the nascent legalized U.S. market.”
888Sports Debuts In New Jersey
European betting giant joins the burgeoning online sports landscape in the Garden State
European online gambling giant 888 Holdings announced Thursday that it has launched its 888Sports website in New Jersey, for the first time offering its sports gambling services to punters present within the state’s borders.
The move is part of a major US-focussed push by 888 to strengthen its already prominent position in the United States, and comes amid a flurry of new sports betting ventures capitalising on the recent overthrow of the restrictive federal PASPA by the US Supreme Court.
888sport is working with its Kambi sportsbook, allowing users to bet on sports via desktop, mobile and tablet devices.
Having already established 888casino and 888poker in New Jersey, 888 Holdings has a firm base in the Garden State.
888 Holdings CEO Itai Frieberger said in a launch statement Thursday:
“Today’s launch of 888sport.com in New Jersey is a major milestone for the company in our ongoing expansion across the regulated U.S. online gaming market and provides 888 with a unique and truly multi-product proposition in what is currently the largest regulated U.S state.”
Despite its still early liberalisation, sports betting in New Jersey delivered $95 million in wagers for the month of August, breaking down as roughly $74 million at physical sportsbooks and $21.7 million via online sports gambling websites.
Operators are looking forward to bumper action in the weeks ahead as the National Football League season develops, along with NBA games.
ESPN reports that there are currently three US states – Pennsylvania, Rhode Island and New York – set to follow the New Jersey example as sports legalisation gains momentum on a state-by-state basis, The publication notes that 19 other states are making firm moves toward sports betting legalisation.