Legal Shifts in College Sports Betting: Trends and Impacts

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00:00Sam, as things certainly are trending among different states, the legality of it is a

00:08question and it now seems that the companies are getting ahead of it as well.

00:12Tell us more.

00:13Yeah, Craig, it's been sort of the latest kind of trend we've seen from regulators and

00:20states, state politicians, even federal politicians and the NCAA itself now, not to mention them,

00:26talking about not being able to bet on college players, which has always been a concern,

00:32frankly.

00:33A lot of states have had these rules where you can't bet on players in your own colleges.

00:36These are college player props, which are pretty popular.

00:40They're more popular in professional sports because there's not these limits.

00:43But you've had, you know, kind of this conversation come about in wake of the John Taylor Porter

00:49stuff was the NBA player who was banned for essentially manipulating his his own statistics.

00:55So to make money off of them, and then just discussions around, you know, different college

01:00players.

01:01I think there was the pair, the receiver at LSU this past year, who or maybe two years

01:06ago, who said that he'd bet on himself in different games, things like that.

01:11It's kind of and when you blur the lines between amateurism and professional sports, now that

01:16you have NIL and everything, it's become quite a topic.

01:19So during the the sports betting conference in New Jersey this week, Adam Greenblatt,

01:25who's the CEO of that MGM was asked about, you know, what happens as player props get

01:32banned in colleges.

01:33And now you have some leagues like the NBA, taking a look at them as well.

01:37He essentially the argument he made was, you know, if people want to bet on things, they're

01:41going to be able to bet on them, whether it's the black market, offshore sports books or

01:46something of that nature, which is true for the professional leagues, I would say, as

01:52with college player props, it becomes a little more murky.

01:55You know, once these bans get passed in different states, like Wyoming is not considering one,

02:00Vermont just had one, Ohio as well, Maryland, North Carolina is now proposing one.

02:06Once these bans get passed, what's going to be done to enforce them?

02:10You know, they're going to be enforced by legal sports books not being able to offer

02:12them.

02:13But are you going to be able to crack down on the offshore ones as well?

02:17Historically, what we've seen is that is not the case.

02:19The offshore market is kind of operated willy-nilly with little crackdowns and enforcement.

02:25So it would be unfortunate if that's the case here, but it seems like companies are gearing

02:29up for that and trying to make that argument in state houses as we approach, you know,

02:33the upcoming, you know, big seasons and everything.

02:35So it's going to be an interesting one to watch, but I'm sure the books would hate to

02:39lose them.