Spectrum forms new sports betting group in US
Spectrum Gaming Group has established a new, specialist sports betting group in the US ahead of the potential expansion of regulated sports wagering.
Formed in partnership with Spectrum Gaming Capital, the new Spectrum Gaming Sports Group will be known as SG2 and operate as a global team of experts in all aspects of sports betting.
SG2 will provide a range of services related to this market such as public policy analysis and guidance; anti-money-laundering controls; drafting or amending legislation, regulations and RFPs; technological requirements; financial analysis; market projections; and responsible-gaming programs.
Spectrum has advised governments and operators in 36 states and has recently worked with various regulators on matters related to sports betting.
These activities include writing the Rhode Island Lottery RFP to select a sports betting service provider for the state, as well as projecting state sports betting revenue for the Washington State Gambling Commission if the activity were to become legal there.
Michael Pollock, managing director of Spectrum Gaming Group, said: “Spectrum is committed to advancing best practices in all facets of gaming, and that need is particularly acute in the burgeoning sports-betting arena.
“We are prepared to assist legislatures, regulators, gaming companies and sports betting companies understand and bring about sports betting in its best forms in the US.”
Robert Heller, chief executive of Spectrum Gaming Capital, who will be one of a number of market experts working in the new group, added: “A robust sports betting platform and business will be a key element of virtually every gaming operator’s customer offering and will require strong technological capabilities and capital to execute.”
The launch of the new group comes after Spectrum in February announced that it was to extend its responsible gambling programme to cover online and sports wagering in the US.
New Jersey is heading up an effort to overturn the federal 1992 Professional and Amateur Sports Protection Act (PASPA).
PASPA makes it unlawful for government entities to sponsor, operate, advertise, promote, licence or authorise betting schemes based on games played by either amateur or professional athletes.
Nevada is currently the only state in which players can legally bet in sports, but this could change should the US Supreme Court rule in favour of New Jersey.
Related article: Spectrum adds online, sports to responsible program