American Gaming Association Addresses Sweepstakes Concerns

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00:00All right, so new commentary here and a memo from the American Gaming Association.

00:09The word sweepstakes being brought up quite a bit.

00:12So a lot of this is portending to casino gambling, I'm guessing.

00:16Tell us more about what the American Gaming Association had to say.

00:19Yeah, so this comes about the same time as, you know, this summer we saw at a couple conferences,

00:25the North American Gaming Regulators Association and the National Council of Legislators from

00:29Gaming States.

00:31Both conferences had panels that kind of discussed these operators, they're, you know, finding

00:36their cracks in regulatory frameworks to offer these games to, you know, the public.

00:42And it's, you can gamble for free, I guess it's not gambling then, you're playing for

00:46free, you're earning coins, and it's an ecosystem where then you can exchange coins for money,

00:54you know, whether it's time played or for real money or however, and you can withdraw

00:59actual money.

01:01And so the AGA has come out with a memo and they're just asking regulators across the

01:05country to kind of take a closer look and see if it fits within their framework or adjust

01:11the framework or however they want to do it to just ensure that the regulated gaming industry

01:16in the US is working.

01:18And then the AGA is, you know, pretty wide open in how they address it.

01:23It's an interesting story.

01:24If you want to go look at our story at Legal Sports Report, we link to the letter, it explains

01:30it in great depth of what they're asking.

01:33It's sites in my state of Michigan, you know, there was a cease and desist of several sweepstakes

01:39operators.

01:40They have decided to pull out or they did decide to pull out and they're no longer operating.

01:44So it's just, it'll be an interesting kind of couple of months to see if regulators do

01:49kind of take action, whether it's CNDs or changing regulations to kind of, you know,

01:55allow this or what happens.

01:57It'll be certainly an interesting time.