The world of betting is in an interesting place.
The good news is that American markets continue to open up at pace and the tech that powers betting is ever-more interesting. Conversely, other territories are getting more conservative, with restrictions on sponsorship looming in traditionally strong markets, such as the UK.
Gambling will undoubtedly be an integral part of sport for the foreseeable future. It generates money, it increases fan engagement and more people watch sport because of it. Sponsorship deals and ad campaigns are significant revenue sources across sports and media, and licensing agreements mean additional income for leagues and teams.
The elephant in the room whenever gambling is mentioned is that of addiction. But isn’t the question of data rights just as pressing?
There are a number of minors and amateurs competing at Paris 2024. While the concept of ‘amateur’ in sport is somewhat blurred these days, there are a fair number of people returning to a different day job once their time in France is over. It is also difficult to find out exactly how many minors are among the 10,500 Olympians – but they are certainly present.
And it’s not just the Olympics. There are minors on the circuits of other sports, too – and while under-18 tournaments are off limits, you can certainly gamble on young people’s performances in many sports.
I’m not anti-betting – far from it – but there is something troubling about sticking some money down on the sporting performance of a child, especially if there is no upside for them. Similarly, if someone’s religion isn’t aligned with betting, it seems distasteful that their performance should be up for a punt.
There is an argument looming about the remuneration rights of professional athletes since their data is driving betting revenues. This is happening adjacent to traditional betting options via NFTs, social betting and fantasy league platforms, all of which reward athletes.
Change is coming, although at what pace remains to be seen, so perhaps the bright minds developing betting tech would do well to create programmes that helps gaming companies get to the forefront of the issue beyond some selective deselection based on date of birth.
The sentiment in sport currently is largely progressive, with leaders conscious of being caught on the wrong side of history. However, when it comes to betting and the existing gold rush, developing some pre-emptive, self-regulating picks and shovels might be smart.
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