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Some Practical Guidelines For Necessary Criteria For [gambling]

Some Simple Insights Into Clear-cut Plans For

Startups Want to Lure You Into Sports Betting

One, of course, was the  Supreme Court’s recent move  to let states legalize sports gambling. The other was  the rise of HQ , the smartphone trivia app that draws over one million people to compete for cash in its twice-daily games. The Supreme Court gave King confidence that his company, Readyfire Inc., would be able to offer new gambling products legally; HQ showed him that people would use them.  In the  short term , the primary beneficiaries of the Supreme Court’s decision are likely to be the established casinos and gaming companies in New Jersey that handle the action from Jets fans visiting their local horse track. But Readyfire is betting that legal sports betting will expand until it’s commonplace for people to place wagers on their phones during lulls in the action instead of checking Twitter. As it aims to create many new gamblers, Readyfire is developing games that will appeal to people who are unlikely ever to set foot in a casino or cultivate a relationship with the neighborhood bookie.  A lot of stars have to align before a startup can start taking bets through a smartphone app. Even if many states do liberalize their laws, each will likely have different standards and licensing requirements. It will be very expensive to navigate this world. Officials could support sports gambling while balking at signing off on smartphone apps striving to make compulsive gambling as simple as Candy Crush. Chris Grove, managing director at Eilers & Krejcik Gaming, a research and consulting firm, predicted that there will be an uneven patchwork rather than a single nationwide gambling market for the foreseeable future. “We won’t have a 50-state sports betting market in our lifetime,” he said.  Readyfire's first product, Halftime Live, is a sports-themed HQ lookalike that takes place during the halftime of sporting events. It launched in February, and its average game draws about 6,000 people, handing out prizes in the $400 range. Running a trivia game for cash is already legal, but King sees Halftime Live as a way to build up an audience open to experimenting with other types of smartphone-based sports games for money. Some of these aren’t gambling at all; some would fall under existing rules regulating fantasy sports; and still others would require changes to state law. "Now that it’s legal, there will be a broadening of the market, where people are open to doing sports bets,” King said. King lays out a scenario where someone would come to an app and decide, say, that she liked Tom Brady. Putting down $5 would set off a series of bets paying out different amounts if he threw for two touchdowns, or if the Patriots won, or if he had more yards than any other quarterback playing that day.

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