The Feasibility of Sports Betting Kiosks<\/h4>\n
Another significant topic discussed during the meeting was the potential introduction of sports betting kiosks in Massachusetts. Spectrum Gaming Group, a non-partisan consultancy specializing in gambling economics and policy, presented findings on this issue.<\/p>\n
Kiosks are already operational in states like Montana, Ohio, and Washington, D.C., and Massachusetts sought to learn from their experiences. Joseph Weinert, executive vice president of Spectrum, pointed out that Ohio serves as a comparable case due to its population size.<\/p>\n
However, the numbers were underwhelming. In 2023, kiosks in Ohio contributed only 0.14% of the state’s total betting handle, and that figure dropped even further in 2024. Weinert emphasized that “the results are worsening,” indicating kiosks may not be a game-changer for the Bay State.<\/p>\n
Challenges with Illegal Betting and Public Health<\/h4>\n
Adding to the discussion, Matt Para, Spectrum’s senior advisor for technology, presented a mixed perspective on kiosks. He suggested that large sports bars could serve as viable locations for these machines but admitted they would likely do little to curb illegal betting. Para also noted that not all lottery retailers would make suitable hosts for sports betting kiosks.<\/p>\n
Public health concerns were also raised during the session. Marlene Warner, CEO of the Massachusetts Council on Gaming and Health<\/a>, argued that mobile betting dominates the market, accounting for 97.5% of all wagers in Massachusetts. Warner cautioned that kiosks could further normalize gambling among young people and increase the risks for minors, making them an outdated solution to a modern issue.<\/p>\n Some commission members expressed doubts about the significance of kiosks. Brad Hill, a member of the commission, remarked that the rise of smartphone wagering had rendered kiosks nearly obsolete. Hill initially believed kiosks could be beneficial but now recognizes that “it’s all done on the phone.”<\/p>\n This isn’t the moneymaker some think it is<\/p><\/blockquote>\n Hill also acknowledged that while the state legislature might permit organizations like Veterans of Foreign Wars (VFW)<\/a> to host kiosks, they are unlikely to generate substantial revenue. “This isn’t the moneymaker some think it is,” he added.<\/p>\n Since the 2018 Supreme Court decision overturning the Professional and Amateur Sports Protection Act (PASPA), sports betting has been legalized in 38 states and Washington D.C. This expansion has led to significant economic activity. For instance, in October 2024, New York set a national record with $2.3 billion in online sports wagers, surpassing its previous record of $2.1 billion. This marked the second consecutive month and the fifth overall that the state exceeded $2 billion in bets, a milestone no other state has reached. FanDuel led with $907.6 million in bets, followed by DraftKings with $813.7 million. In total, sportsbooks won $176.4 million in October. The state gaming commission announced that $595.4 million from mobile sports wagering revenue has been allocated for public education aid this year.<\/p>\n The financial impact of legalized sports betting extends beyond state revenues. A report from the National Bureau of Economic Research highlights the financial strain on households participating in betting, causing increased credit-card debt and overdraft frequency. The survey noted that 7.7% of households in states with legalized sports betting engage in online wagers<\/a>, averaging $1,100 yearly. The long-term financial implications could be significant, particularly for young investors.<\/p>\n Taxation policies on sports betting vary across states, influencing both state revenues and market dynamics. In Illinois, the betting tax rate was recently increased to 40%, prompting concerns from industry analysts about the potential consequences for consumers and market competition. DraftKings announced a new surcharge beginning in 2025 for customers in states with high tax rates, impacting bettors in New York, Illinois, Pennsylvania, and Vermont. This surcharge, a 3-4% fee on all winning bets’ profits, is a response to high state tax burdens and aims to pressure legislatures to reconsider their rates.<\/p>\n The rapid expansion of sports betting has also raised concerns about its societal impact. In New Jersey, which pioneered legal sports betting in the U.S., lawmakers are considering banning proposition bets on college athletes due to concerns that students are more vulnerable to pressure and harassment compared to professional athletes. Instances of harassment have been reported, such as Auburn quarterback Payton Thorne and North Carolina basketball player Armando Bacot receiving angry messages from bettors over their performance. A proposed bill would prohibit bets on specific college athlete statistics, joining 13 other states with similar restrictions.<\/p>\n Earlier in November, the MGC, led by chair Jordan Maynard, granted an official seal of approval to licensed operators in the state. As the commission continues its work, its dedication to transparency and bettor advocacy positions Massachusetts as a leader in addressing the challenges of modern sports betting regulation.<\/p>\n CoinPoker<\/a> redefines the poker experience by integrating blockchain technology and cryptocurrencies, creating a secure and innovative platform for modern gaming enthusiasts. Since its launch, CoinPoker has gained attention for combining poker with decentralized technology, offering a unique destination for those passionate about both. While it primarily focuses on poker and a limited selection of sports betting, the platform has yet to establish a substantial foothold in the global gambling market. Here’s an in-depth look at what makes CoinPoker unique.<\/p>\n CoinPoker was introduced in 2017, initially catering to casual poker fans without real-money stakes. By 2018, it embraced cryptocurrencies, allowing users to bet and win using digital assets. The platform utilizes CHP, its proprietary token, alongside popular cryptocurrencies like Bitcoin and Ethereum for transactions.<\/p>\n Built on the Ethereum blockchain, CoinPoker prioritizes security and fairness. A blockchain-based Random Number Generator (RNG) ensures transparent game outcomes, while the platform protects player anonymity throughout transactions. This combination of blockchain technology and cryptocurrency makes CoinPoker an attractive option for privacy-conscious players.<\/p>\n CoinPoker emphasizes financial transparency by adhering to Curaçao eGaming license requirements and implementing a Proof of Reserves (PoR) system. This approach reassures users that all deposits are fully backed, with approximately $16 million held in player deposits and a total reserve of $16.75 million, ensuring 105% fund coverage. Player funds are kept separate from company assets, providing an extra layer of trust and security.<\/p>\n To uphold fair play, CoinPoker leverages its blockchain-based RNG and advanced fraud prevention measures. Beyond poker, the platform offers sports betting with competitive odds and supports Android and iOS mobile apps, giving players convenient access.<\/p>\n Responsible gaming is a core focus for CoinPoker, which provides tools to help players manage their gaming habits. Options for self-exclusion are also available for users needing assistance with gambling-related issues. A dedicated responsible gaming officer ensures the platform adheres to best practices, making CoinPoker a safe and reliable environment for its community.<\/p>\n One of CoinPoker’s standout features is its seamless transaction process. Using cryptocurrency wallets, players can make deposits and withdrawals quickly and anonymously. This focus on private, secure transactions appeals to users who value discretion, further distinguishing the platform from traditional poker sites.<\/p>\n CoinPoker actively engages its user base through giveaways and collaborations with notable poker ambassadors. For example, Bobby James, a CoinPoker ambassador, achieved a fifth-place finish at the 2024 EPT Cyprus Main Event, earning $271,400. To celebrate, CoinPoker organized a Sunday giveaway, encouraging fans to interact through social media.<\/p>\n Another ambassador, Patrick Leonard, also made an impression at the event, finishing 28th and taking home $26,600. These partnerships and events energize the platform’s community and enhance its reputation among poker enthusiasts.<\/p>\n CoinPoker’s own @BobbyJamesPoker<\/a> is CRUSHING IT at EPT Cyprus! Correctly guess where he’ll finish on tomorrow’s final table and you could win $500! Comment your prediction with your CoinPoker username ⬇️ Entries closed when Day 6 kicks off #EPTCyprus<\/a> #poker<\/a> pic.twitter.com\/o4ONirLKoS<\/a><\/p>\n — CoinPoker (@CoinPoker_OFF) October 19, 2024<\/a><\/p><\/blockquote>\nSkepticism Among Commission Members<\/h4>\n
Sports Betting Legalization in Various States<\/h2>\n
Sports Betting in Massachussetts<\/h4>\n
![\"\"](\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/10\/coinpoker-300x158.png\")
<\/p>\nCoinPoker: Where Blockchain Meets the Thrill of Poker<\/h3>\n
\nA Blockchain-Powered Poker Experience<\/h3>\n
\nTransparency Through Proof of Reserves<\/h3>\n
\nEnsuring Fair Play and Promoting Responsible Gaming<\/h3>\n
\nFast, Private Transactions for Crypto Enthusiasts<\/h3>\n
\nCommunity Engagement and High-Profile Partnerships<\/h3>\n
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