Sportech In The News – SBC Magazine April

Our CEO, Richard McGuire, spoke to SBC Magazine for this month’s magazine. Read the article below on how we are about to enter the most challenging period in history, but how we remain well positioned for change and challenge in 2020.

Download the Sportech article here and read the entire magazine here.

Sportech Testifies to Need for Sports Betting Legislation in CT

On Tuesday March 3, 2020, members of the Sportech Team – Richard McGuire, CEO; Rich Pingel, CLO; and Ted Taylor, President of Sportech Venues – went before the Connecticut General Assembly’s Public Safety and Security Committee, which oversees legislation related to gaming in the State. The team was there to testify, on behalf of all Sportech employees in Connecticut, to the need for common sense, equitable Sports Betting legislation.

Ted Taylor, President of Sportech Venues, stated in his testimony,

 “We view this legislative session as a critical juncture for the gaming industry in Connecticut and an opportunity to permit local operators – existing partners of the State for many years – the right to compete effectively against…illegal markets and surrounding states [that have already legalized the activity].”

Sportech CEO Richard McGuire submitted written testimony that further reiterated Sportech’s consistent position on Sports Betting in Connecticut; that the State should authorize the four existing licensed gaming operators – including Sportech – to offer online and retail Sports Betting with appropriate taxation and regulation.

CEO McGuire wrote in support of a bill raised to legalize Sports Betting, stating,

“The approach outlined in Bill 5168, to license the existing gaming partners to offer Sports Betting, provides consumers a competitive choice; critical to a healthy legal Sports Betting marketplace, will protect jobs, drive incremental State revenue from established licensees, and tackle the illegal market.”

Continue to watch this space for updates on the status of Sports Betting in Connecticut.


Bump 50:50 and In-Stadia Betting

Dan Tanenbaum, President of Bump 50:50, a division of Sportech Racing and Digital, took time out of his busy day to answer some questions for iGB North America Magazine on In-Stadia Betting. The article “In The Thick Of The Action” was published in Issue 41 last week.

The article examines how sporting arenas are “evolving into technologically advanced entertainment platforms, rather than simple venues where people gather to watch live sport”. The article discusses three main factors that contribute to in-stadia betting; “Stadium As A Platform” suggesting the stadium is more than another betting venue, “Preparing The Ground” for legal wagering in state regulation, and “The Mobile Question” how a partnership between a venue and an operator could look.

Dan comments on how Bump has already entered into many stadiums with technology for raffles and prepared the ground for future betting.

“[While] we don’t really view Bump’s charitable raffles as ‘gambling’ per se, in the US and Canada it is the only way to legally win money at a game right now,” he explains. “And, in cases where the activity is permitted, raffles prepare the stadium and its staff for betting activity.”

Dan says “a significant portion” of Bump 50:50 raffle sales come through kiosks or roaming sales agents, but adds it also provides sales via web and mobile devices where permitted by law.

From experience, Bump 50:50 have also created solutions to some of the mobile questions raised in the article. They have developed core processes to mitigate some of the technical limitations, such as concentrated wi-fi demands and exclusivity zones. Dan explains “the implementation of in-stadia betting in the US will be determined by the limitations imposed by regulators more so than by exclusivity agreements.”

Find the full article here.

For more information about Bump 50:50 and their electronic raffle systems, visit the Bump 50:50 website.