PASPA Anniversary: Sports Betting Q&A With Gaming Expert Bill Pascrell
As we mark the anniversary of the Professional and Amateur Sports Protection Act (PASPA), we’re joined by gaming expert Bill Pascrell to discuss the impact of the landmark legislation on the sports betting industry.
PASPA Anniversary: Sports Betting Q&A With Gaming Expert Bill Pascrell
As we mark the anniversary of the Professional and Amateur Sports Protection Act (PASPA), we’re joined by gaming expert Bill Pascrell to discuss the impact of the landmark legislation on the sports betting industry.
With over 20 years of experience in the gaming industry, Pascrell has seen firsthand the evolution of sports betting from a niche market to a global phenomenon.
What was your initial reaction to PASPA’s passage in 1992?
‘I was shocked,’ Pascrell recalls. ‘I thought it was a huge mistake. I didn’t think it would have the impact it did.’
But as the years went by, Pascrell began to see the unintended consequences of PASPA. ‘It created a black market,’ he explains. ‘It drove people to offshore operators, which were not regulated.’
How did PASPA’s repeal in 2018 change the landscape for sports betting?
‘It opened up a whole new world,’ Pascrell says. ‘It allowed states to regulate sports betting, which has led to a more level playing field.’
With the repeal of PASPA, states have been able to create their own regulations and tax structures for sports betting. This has led to a proliferation of sportsbooks and a more competitive market.
What advice would you give to operators looking to enter the sports betting market?
‘Be prepared to invest in technology,’ Pascrell advises. ‘You need to have a robust platform that can handle the volume of bets.’
He also stresses the importance of compliance and regulatory expertise. ‘You need to understand the regulations and be able to adapt to changes in the market.’
What’s the future of sports betting looking like?
‘I think we’re just getting started,’ Pascrell says. ‘We’re going to see more innovation, more competition, and more opportunities for operators.’
As the sports betting industry continues to evolve, Pascrell believes that operators will need to stay ahead of the curve to remain competitive. ‘You need to be willing to take risks and invest in new technologies and products.’
‘The future of sports betting is bright, and I’m excited to see what the next few years bring.’
