Viewpoints: Sports betting's small margins mean casino will always be 'the darling child'

March 13, 2024
Leer en Español

Oddsworks EVP Business Development Steven DeMar gives his take on the matter.

Tribal gaming continues to grow in the US, but to keep up with the ever-growing commercial gaming market, new verticals may need to be explored especially with online gaming’s growing popularity. 

In recent months, there has been much movement within the sports betting market.  

More and more states continue to introduce legislation for online sports betting, most recently North Carolina on Monday, with huge potential for more as 2024 progresses. 

On top of this, we are seeing the sheer size of the potential that the vertical brings, with a product that has mass appeal.

New York, for example, became the first state to surpass the $2bn mark for online sports betting handle, while prior to the Super Bowl, the American Gaming Association (AGA) estimated that wagers for the game could reach $23.1bn. 

Tribal gaming continues to grow as well, with revenue reaching a record $40.9bn in 2022, but the idea of sports betting is quite new for some Tribes, and sometimes bringing with it legal questions. 

In the upcoming edition of Gaming America magazine, Steven DeMar, EVP Business Development at Oddsworks, will feature in a Tribal special on this very topic among others. 

Though DeMar admits, “The sheer ability of the market to absorb this kind of dramatic player expansion builds a strong case that sports betting is working and players want it,” he does offer some insight into some of sports wagering's limitations.

He tells Gaming America: “The cloud over the forecast is the small margins from sports betting. The win from casino is significantly larger than that of sports. To exceed casino, sports betting would have to grow many multiples in magnitude than it is now.  

“Sports betting is a superb complement to casino, but the math is strongly in casino gaming’s favor as the darling child.” 

DeMar was answering questions for our upcoming Gaming America Viewpoints feature surrounding Tribal gaming, which also includes contributions from Justin Arnett from the Potawatomi Casino Hotel, Guy Greene of Mohegan Digital and Brooke Fiumara from OPTX.

Watch this space!


Product Spotlight


CasinoTrac is reducing handpay downtime by nearly 90% with SlotSUITE's Self-Pay & W-2 G printing at the slot machine.

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

Christian Smith - Slot machines a "beautiful intersection of psychology and mathematics"

Bluberi's Christian Smith speaks to Gaming America in an enlightening Huddle. Topics include: the 'Australification' of US gambling, the blending of psychology and mathematics, and the rising trend of three-pot fillers.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.