iGaming Industry
Sports gambling advocates see opening in court case
Iowa gaming group drafts legislation in preparation for ruling
A case argued this week before the U.S. Supreme Court could — depending on how justices rule — open the door to legalized sports gambling in any state that approves it.
A nonprofit trade organization that supports Iowa’s casinos plans to draft legislation legalizing sports gambling in the state should the court rule in its favor.
“I think there’s a great deal of interest among people (who want) the opportunity to bet on a game and do it in a regulated environment,” said Wes Ehrecke, president and chief executive of the Iowa Gaming Association. “If and when this were to be passed, to have that opportunity to provide this opportunity in Iowa, I think a lot of people have a great deal of interest in sports and betting on sports.”
Indeed, interest in sports wagering is not in short supply. Americans illegally wager $150 billion on U.S. sports annually, estimates the American Gaming Association, which supports legalized sports betting. Of $4.7 billion wagered on last season’s Super Bowl, 97 percent was illegal, the group estimates.
Only four states — Nevada, Montana, Delaware and Oregon — are allowed to facilitate sports gambling under a 1992 federal law.
That law has been challenged by New Jersey in a case that was heard Monday by the U.S. Supreme Court.
Should the court rule in favor of New Jersey, all states would be free to legalize sports gambling.
The Iowa Gaming Association wants to be prepared. Ehrecke said his organization plans to draft such a bill and hopes it gets introduced in the upcoming legislative session.
If the court has not yet ruled before the legislative session ends, Ehrecke said lawmakers could approve a bill with the proviso that it depends on the ruling.
“We would be interested in getting legislation adopted to legalize sports betting in Iowa at our casinos and regulated by our gaming commission,” Ehrecke said.
Iowa is among 32 states that are most likely to legalize sports gambling within five years of a Supreme Court ruling favorable for the states, according to a study from the California research firm Eilers & Krejcik Gaming, the Associated Press reported.
Legalized sports wagering could provide a financial boon to Iowa’s casinos and the state, assuming it would tax legal sports wagering. Although state estimates are not available, Eilers & Krejcik estimates a legal sports gambling market would be worth more than $6 billion, the AP reported.
“It’s going to generate revenue for the state as well,” Ehrecke said. “That would go to more worthwhile causes, like our gaming revenue, and tax revenue, does now.”
Opposing New Jersey in the high court case are the professional sports leagues and the NCAA, which believe nationwide legal sports gambling would hurt the integrity of their games, according to arguments they made in court.
Spokesmen for casinos in Sioux City, Waterloo and Davenport either declined to comment or did not respond to requests.
Officials at the University of Iowa, Iowa State University and the Board of Regents, which governs Iowa, Iowa State and the University of Northern Iowa, said they had no comment.
A key state lawmaker said he is taking a wait-and-see approach before he decides whether the Iowa Legislature should explore legalizing sports gambling, should the opportunity present itself.
“I don’t want to get ahead of ourselves here. Once we find out what the Supreme Court says, then we really need to assess what the people of Iowa want — do they want sports betting or not?” said Ken Rizer, a Republican from Marion who chairs the Iowa House state government committee, through which any gambling bill would have to pass.
Rizer noted the Legislature has spent the past two sessions debating a bill to legalize betting on online daily fantasy sports websites. Rizer said he supports that proposal, but wants to gather more information before deciding whether to support legalized gambling on games.
At the heart of the Supreme Court case is a question of the 10th Amendment — to what extent can the federal government can force laws upon the states?
The court’s decision could have repercussions beyond sports gambling.
The ruling “could have repercussions in areas that go well beyond sports betting: gun control, immigration, sanctuary cities,” Daniel Wallach, a Fort Lauderdale lawyer who specializes in gaming and sports law, told the Washington Post. “It is the most important federalism case the Supreme Court has heard in many, many years.”
New Jersey has lost at every stage in court so far, but legal experts believe some of the justices’ questions during Monday’s hearing suggest the high court will rule in favor of the state.
If it does, Ehrecke said he hopes Iowa takes the next step to legalize sports gambling.
“I think that could create some new interest for those that want to do that, to have a place for them to do that in a fun, regulated environment,” he said.…
The post Sports gambling advocates see opening in court case appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.
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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