iGaming Industry
The Supreme Court should let states set their own sports gambling laws
American democracy’s comic opera frequently features collaborations of “bootleggers and Baptists.” These entertainments are so named because during Prohibition, Baptists thought banning Demon Rum would improve public morals (oh, well) and bootleggers favored the ban because it made scarce a commodity for which there was a demand that they could profitably supply. On Monday, the Supreme Court will listen — with, one hopes, a mixture of bemusement and amusement — to arguments concerning another prohibition.
This one concerns a law banning what many millions of Americans do anyway — illegally betting between $150 billion and $400 billion annually on sports events. Illegality prevents precise knowledge, but if the sum is just $150 billion, that sum exceeds the combined revenue of Microsoft, Goldman Sachs and McDonald’s. The Baptists in this case are those who consider gambling a vice that state governments should discourage. The bootleggers are those who supply illegal gambling services on the Internet and elsewhere.
The court’s nine fine minds need not, and should not, trouble themselves with the question of whether this particular prohibition is sensible. They should, however, defend federalism by telling the national government to stop telling state governments what laws they cannot change.
Twenty-five years ago, gambling was rapidly becoming regarded less as a vice that state governments should discourage and more as a source of revenue that those governments would encourage. But in 1992, then-Sen. Bill Bradley (D-N.J.), a former college and NBA basketball star who worried about the possible corrupting effects of gambling on sports, wrote the Professional and Amateur Sports Protection Act (PASPA). It says no government entity may “authorize” wagering on sporting events. This has not deterred the many millions of Americans who since 1992 have wagered trillions on such events. Next March, the sum wagered on the college basketball tournament — approximately $9 billion — will exceed the NBA’s estimated revenue for the 2017-2018 season ($8 billion).
In a 2011 referendum, New Jersey voters authorized their legislature to do what it did in 2014: partially legalize sports betting by repealing a law prohibiting such wagering at racetracks and casinos. The NCAA and professional sports leagues objected, saying that by “authorizing” such gambling New Jersey was violating PASPA. A federal circuit court agreed, rejecting the state’s argument that PASPA violates the 10th Amendment. (“The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people.”) The court said New Jersey’s partial repeal affirmatively authorized sports wagering by directing it to particular venues. The court argued that PASPA did not unconstitutionally “commandeer” state resources because it did not compel New Jersey to take a particular action or devote resources to administering federal choices.
An amicus brief supporting New Jersey argues that federalism precludes the national government from forbidding a state to pass a law “that neither violates the Constitution nor addresses any matter pre-empted by federal law.” Congress has not chosen, as it could, to prohibit sports betting; instead, Congress has paralyzed states, preventing them from changing laws that such betting violates and effectively commandeering state resources to enforce a policy that the state dislikes.
The brief also says: “Depriving the body that enacted a law of the ability to repeal or amend that law defeats the purpose of representative democracy.” It is indisputable that Congress cannot “directly compel New Jersey to enact a prohibition on sports betting.” Therefore, Congress may not prevent the state from repealing such prohibition. In either case, the state is being forced to regulate behavior it would prefer to deregulate or to regulate in its own manner.
As currently construed, PASPA requires states to disregard an emerging consensus: In 1993, 56 percent of Americans disapproved of legalizing sports betting. Now, 55 percent approve. Twenty states have joined an amicus brief supporting New Jersey, and legislation has been introduced in a dozen states to legalize sports betting if New Jersey wins. The professional sports leagues are recalibrating their thinking, partly because legalizing and regulating sports betting would make it easier to detect suspicious surges of bets that might indicate rigged competition, and partly because wagering expands and intensifies fans’ engagement. For example, bettors watch more NFL games, and watch for longer, than non-bettors.
Besides, the NFL is moving the Oakland Raiders to a city built by gambling, Las Vegas, where an NHL franchise has just begun its first season. The outcome in the Supreme Court is difficult to predict. It is, however, legal to bet on it.
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Source: EEGaming.
Alejandro Navarro
Betski Secures $345,000 in Pre-Seed Funding for First-ever Tokenized Casino Ownership Platform
Betski is set to launch its online casino ownership platform in Q1 of 2025, enabling users to earn casino profits through digital tokens. The system will allow anyone to receive a share of casino earnings without managing casino operations, marking a new chapter in the multi-billion-dollar iGaming industry. Supported by a $345,000 pre-seed funding round, the platform aims to democratize access to casino earnings and reshape the multi-billion-dollar gaming industry.
Opening Casino Ownership to Everyone
The platform’s tokenization system reshapes traditional casino business rules through an automatic profit-sharing program. Token holders receive a percentage of every bet placed on the platform.
This system eliminates steep entry costs, such as operational expenses, licensing fees, and administrative management. Users can start earning returns without previous casino experience or large capital investments.
“A small group have exclusively enjoyed casino industry profits until now. Our platform opens these earnings to everyone through our tokenized profit-sharing system, turning users into online casino owners,” said Alejandro Navarro, founder and CEO of Betski.
Direct Profit-Sharing Through Tokens
Through a verified digital system, the ownership program distributes Gross Gaming Revenue (GGR) among token holders. Investors have recognized this potential, contributing $345,000 in pre-seed funding that combines gaming entertainment with digital asset ownership. The platform maintains strict security protocols and automated distribution systems for reliable profit sharing.
“The platform distributes real money to token holders from every bet placed by players. This creates a steady income stream for online casino owners – something the traditional casino structure has never offered,” said Navarro.
Global Growth of Online Casino Ownership
The platform has attracted 2400 active Discord members and over 20,000 followers on X (formerly Twitter). These early adopters are expected to participate in test runs of the profit-sharing system once it goes live. Over the next 24 months, the platform will roll out first in Latin America, followed by expansion into European and select Asian markets.
Betski offers casino games, live casino experiences, eSports betting, global lotteries, fantasy sports, and traditional sportsbooks. This variety creates multiple revenue streams for online casino owners. Players can access all gaming options through a single interface, which streamlines the betting experience and maximizes potential returns for token holders.
The team has partnered with major payment processors and marketing agencies to support the platform’s global expansion. These collaborations will facilitate smooth transactions and user acquisition across different regions. The platform meets all regulatory requirements in its target markets, certifying long-term stability for token holders.
New Opportunities for Investment
Following the successful pre-seed round, Betski is now opening its seed funding round to welcome additional participants into its casino ownership platform. This investment opportunity enables individuals and entities to join the platform’s growth journey ahead of its official launch in Q1 2025.
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
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