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“Earlier in the year when the Supreme Court decision came down, if you were at a conference, that was what everyone was talking about and we thought now is the time to get our industry talking and collaborating on ideas about how to embrace sports wagering,” said Bryan Pettigrew, Chief Marketing Officer for Breeders’ Cup Limited. “Too many times in this sport we move slowly and miss out on ideas and we thought it would be best to work together on this as soon as possible, so (BloodHorse Editorial Director) John Keitt and (Breeders’ Cup President and CEO) Craig Fravel got together. They understood this is a time when racing needs to be in the forefront with collaboration rather than remain in the background, and they worked together to create this symposium.” The town hall-style symposium, which has no admission fees, will offer three sessions with a variety of expert panelists, discussing sports betting’s impact on economics, politics and the consumer. The list of nine featured speakers includes a Kentucky state legislator and representatives from a variety of fields with a stake in sports wagering, such as the National Basketball Association (NBA), gaming associations, ADWs and racetracks. They include Greg Means from the Alpine Group, a lobbyist for the National Thoroughbred Racing Association (NTRA); Sara Slane, Senior Vice President of Public Affairs for the American Gaming Association; John Hindman, General Counsel for FanDuel/TVG; Bill Knauf, Vice President of Business Operations at Monmouth Park; Dan Spillane, Senior Vice President, League Governance and Policy for the NBA; Sen.
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Supreme Court ruling in mid-May, states have been given the green light to legalize and regulate the industry how they see fit. “AGA strongly believes no additional federal engagement is needed at this time based on the significant, effective regulatory oversight already in place,” the lobbying group explained. “Across the country, more than 4,000 dedicated public servants effectively regulate the commercial and tribal casino industry, including sports wagering. Replacing an already proven regulatory regime with a non-existent and untested federal oversight apparatus would be out of step with 7 in 10 Americans who think this decision should be left to each state and tribe.” Part of Schumer’s pitch included letting the sports leagues have unprecedented control over legal betting. The leagues would be able to tell sports books what types of bets are allowed. “[A] few major sport leagues have proposed they be able to restrict, at their sole discretion, the types of bets allowed on their games,” the AGA said. “This suggestion was made based on the leagues’ concerns that certain types of bets could be more susceptible to manipulation in the betting market. While sports book operators are aligned on the underlying goal of preventing market manipulation – which could severely impact both their business reputations and bottom lines – we see this proposal as counterproductive and unnecessary. Sports book operators already have significant economic incentive to avoid offering bets that pose a significant risk.
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