American Gaming Association Addresses Sweepstakes Concerns
Transcript
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.