CEO suggests tax rates tied to operator hold rates as one possible idea to level playing field.
In the ninth paragraph of an open letter to US sports betting regulators and legislators published on Thursday (13 March) morning, Sporttrade founder and CEO Alex Kane boiled his mission statement down to two sentences:
“If the goal is to have as many players as possible choosing to play in your regulated market, there must be significant changes to your regulatory approach. You must consider making a sincere effort to welcome innovative companies into your regulated market.”
Nearly seven years after the Supreme Court ruling that allowed for widespread legalisation of sports betting, the public conversation around the space has turned decidedly negative. There’s a heavy focus on a rise in problem gambling. A handful of legislators are pursuing paths to undo the legalisation in their state. The threat of federal intervention is turning up its volume and growing increasingly ominous.
Kane’..