Business of Sports Betting epub, The

With the repeal of the Professional and Amateur Sports Protection Act in 2018, regulated sports betting has exploded in the United States, with more than half the states adopting legalized sports betting and many more poised for business. As a result, career opportunities with sportsbook operators and venues; sport leagues, teams, and sponsors; and gaming regulatory agencies abound for today’s students.

The arrival of The Business of Sports Betting introduces the first dedicated text—written by a team of academic faculty and internationally recognized experts in the field—covering every aspect of the sports betting industry. It begins with a historical overview of sports betting and key legislation that has led to legalized betting today. Included are the various types of wagers available to bettors, the sports in which betting can take place, and the industry’s major stakeholders.

Next, readers will examine the multiple layers of sports betting regulations in the United States and the interplay between federal laws, state authorization, and tribal governance. Regulatory frameworks in the United States, United Kingdom, and Canada are covered, as well as compliance focal points addressing anti–money laundering regulations, placement of wagers, and the Bank Secrecy Act.

The book then warns of the negative aspects of the business, such as illegal sports betting, gambling scandals, and match fixing; the risks associated with illegal betting; and harm from problem gambling. To combat these risks, guidelines are presented for protecting against illegal gambling, minimizing potential harms, and ensuring integrity in sports betting.

Next, students learn the how-tos of establishing, operating, and marketing a sportsbook. Traditional brick-and-mortar sportsbooks are discussed in detail, including the many facility management considerations that come with operating and maintaining a physical venue. Students also learn about the various mobile sportsbooks available today (including websites, kiosks, and phone apps), how they operate, and their connection to and interaction with physical sportsbooks. In addition, the authors present marketing and advertising strategies for acquiring customers and forging relationships with teams, leagues, and sportsbooks. Special attention is given to the American Gaming Association’s Responsible Marketing Code for Sports Wagering and its compliance considerations for sportsbook operators.

Sports wagering is a data-driven business, and students will see how data are generated and transmitted to sportsbook operators. Managing and protecting that data is paramount to competitive advantage, and students will learn about intellectual property protections granted to sportsbook operators. Additionally, the book discusses the proliferation and potential positive and negative impacts of gamification and virtual currencies in sports betting.

Chapters are punctuated with supplemental sidebars and case studies providing real-life examples of the positive and negative impacts of sports betting.

The Business of Sports Betting offers a comprehensive introduction to the nuances of the sports betting industry, including the key players, regulatory environment, marketing and technology drivers, and business operations of a sportsbook.

Audience

Upper-undergraduate and graduate students taking courses in the business of sports betting; also a reference for executives, managers, and gaming regulators needing to comply with laws regarding sports betting.

Chapter 1. A History of Sports Gambling
A Brief History of Sports Betting
Nevada’s Experience
The Federal Experience
The Rise of Fantasy Sports
New Jersey Litigation
Contemporary Market
Balanced Book
Operating Costs
Sports Bettor
Types of Bets
Summary
Case Study
Review Questions

Chapter 2. Sports Betting Stakeholders
Stakeholders
Sports Betting Verticals
Sports Betting Stakeholders
Professional Sports Stakeholders
Gaming Regulators
Amateur Sports
Professional Sports Leagues
Summary
Case Study
Review Questions

Chapter 3. Federal, State, and Tribal Legal Authorization and Governance
Federalism and the United States
Interplay Between Federal Laws and State and Tribal Governance
State Authorization and Regulation of Sports Betting
Tribal Operation of Sports Betting
Summary
Case Study
Review Questions

Chapter 4. Why Regulate
No Meaningful Regulation
Under Regulation
Meaningful Regulation
Sports Wagering Regulatory Frameworks
Federal Laws
Summary
Case Study
Review Questions

Chapter 5. Sports Gambling Regulatory Models
Sports Wagering Regulation in the United States
Foundations of Sports Betting Regulation
Three-Party Relationship
Sports Gambling Regulation in the United Kingdom
Sports Betting Regulation in Canada
Summary
Case Study
Review Questions

Chapter 6. Race and Sportsbooks
Horse Racing
Dog Racing
Animal Harm
Esports in Nevada
Jai Alai
Summary
Case Study
Review Questions

Chapter 7. Mitigating Harm From Sports Betting
Problem Gambling
Harm From Problem Gambling
Identifying a Gambling Disorder
Problem Gambling Resources
Policies to Mitigate Harm From Gambling
Funding Problem Gambling Services
Restrictions on Sports Betting Advertising
Summary
Case Study
Review Questions

Chapter 8. Integrity in Sports Betting
Sports Integrity Versus Betting Integrity
Integrity and the Law
Integrity Risks
Protecting Integrity
Summary
Case Study
Review Questions

Chapter 9. Illegal Sports Betting
The Fixing of the 1919 World Series
Bookies
Offshore Sportsbook Operators
Gray Sports Betting Markets
Summary
Case Study
Review Questions

Chapter 10. Sports Betting Scandals and Match-Fixing
Sports Betting Scandals in the United States
Match-Fixing
Protecting Sports
Summary
Case Study
Review Questions

Chapter 11. Doing Business as a Sportsbook
The Growth of Sports Betting
Evaluating Whether to Start a Sportsbook Business
Sportsbook Operational Considerations
Sportsbook Business Considerations
Advertising and Marketing Considerations
Responsible Gambling
Landscape Subject to Change
Summary
Case Study
Review Questions

Chapter 12. Sports Wagering and Compliance
U.S. Sports Wagering Compliance Regulatory Framework
Anti-Money Laundering Compliance
Placement of Wagers Compliance
Marketing Compliance
Summary
Case Study
Review Questions

Chapter 13. Sports Wagering Venues
The Evolution of Sportsbook Venues
Physical Retail Sportsbooks
Interplay Between Physical Retail and Mobile Sportsbooks
Kiosks
Mobile Sportsbooks
Facility Management
Summary
Case Study
Review Questions

Chapter 14. Sports Betting Advertising and Marketing
Acquiring Customers
Commercial Partnerships
The Ethics of Gambling Advertising
Limits on Advertising
American Gaming Association Responsible Marketing Code for Sports Wagering
International Approaches
Summary
Case Study
Review Questions

Chapter 15. Intellectual Property, Data, Technology, and the Future of Sports Betting
Intellectual Property
Sports Wagering Data
Tech Stacks
Gamification
Virtual Currencies
The Future of Sports Betting
Summary
Case Study
Review Questions

Becky Harris, JD, LLM, is the Distinguished Fellow in Gaming and Leadership at the International Gaming Institute at the University of Nevada, Las Vegas (UNLV) and is on the faculty at the International Center for Gaming Regulation at UNLV. She teaches AML for gaming lawyers, gaming law, and gaming policy at the William S. Boyd School of Law and regularly educates gambling regulators across the globe so they have the information, knowledge, and tools necessary to assess and improve gambling policy and regulation in their respective jurisdictions. As an internationally recognized expert, Harris is highly sought after and frequently called upon nationally to discuss policy and regulatory issues relating to legal sports wagering.

Harris was the first woman to serve as the chair of the Nevada Gaming Control Board. As the chief regulator responsible for comprehensively regulating the multibillion-dollar gambling industry in the state of Nevada from 2018 to 2019, she served as a global ambassador to other gambling regulators and led the world’s most highly regarded gambling regulatory body through several high-profile matters, including the repeal of the Professional and Amateur Sports Protection Act (PASPA), the emergence of sports betting across the United States, and various Wire Act issues.

Harris represented Nevada’s State Senate District 9 in Clark County for two regular sessions and two special sessions. During her tenure, she served as chair of the education committee; vice chair of the judiciary committee; and a member of the finance, education, and commerce, labor, and energy committees. She also served as the treasurer of the National Council of Legislators from Gaming States and was selected to chair its responsible gaming committee.

John T. Holden, PhD, JD, is a William S. Spears Fellow and associate professor in the department of management in the Spears School of Business at Oklahoma State University. Holden’s academic scholarship is focused on legal and regulatory issues in the sports gambling industry. He is the author of more than 50 academic articles on gaming policy and related issues of corruption.

Holden has testified and submitted written recommendations regarding the legalization of sports betting and fantasy sport leagues on the state and national level. He filed two amicus curiae briefs in the Murphy case at the Supreme Court and has been quoted in a variety of outlets ranging from New York Times, USA Today, and the Wall Street Journal to Bloomberg and NPR.

Holden is licensed as an attorney in the state of Florida. He earned his PhD from Florida State University, his LLB from the University of Ottawa, and his JD from Michigan State University.

Gil Fried, JD, is a professor at the University of West Florida (UWF) and interim assistant dean of the College of Business. He started at UWF in 2021. Prior to his appointment at UWF, Fried was a professor in the Pompea College of Business at the University of New Haven for 21 years and retired in 2021 with the designation of professor emeritus.

Fried is a specialist in sports law, sports finance, and sport facility management. He received his masters in sport management and his law degree from The Ohio State University. He has taught courses and written numerous books and articles on sport risk management, sport facility management, sport analytics, esports, and sports finance.

Fried speaks throughout the United States on issues such as building and financing facilities and dealing with risk management concerns.

A brief history of sports betting
Betting by NFL players after the repeal of the Professional and Amateur Sports Protection Act
The Ethics of Gambling Advertising
The growth of legalized gambling post PASPA repeal

All ancillaries are free to adopting instructors through HKPropel.

Instructor guide. Includes an introduction, suggested web resources, a sample syllabus, and five case studies with one or two essay questions each. Learning objectives, chapter outlines, solutions to review questions from the book, and activities and assignments are also included for each chapter.

Test package. Contains 30 questions per chapter in true-false, fill-in-the-blank, and multiple-choice formats. The files may be downloaded for integration with a learning management system or printed for use as paper-based tests.

Chapter quizzes. Contains ready-made quizzes (10 questions each, shared with the test package) to assess student comprehension of the most important concepts in each chapter.

Presentation package. Features more than 280 PowerPoint slides of text from the book that can be used for class discussion and presentation. The slides in the presentation package can be used directly within PowerPoint or printed to make handouts for students. Instructors can easily add, modify, and rearrange the order of the slides.