{"id":221129,"date":"2022-07-13T22:19:48","date_gmt":"2022-07-14T03:19:48","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=221129"},"modified":"2022-07-14T14:38:44","modified_gmt":"2022-07-14T19:38:44","slug":"fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/","title":{"rendered":"FanDuel CEO Amy Howe Discusses Underage Betting, Offshore Operators at SBC"},"content":{"rendered":"

Don\u2019t expect to see FanDuel go after partnerships with colleges as long as Amy Howe leads the US sports betting giant. That was one of the points the company\u2019s CEO brought up Wednesday during a wide-ranging keynote conversation at SBC Summit North America in Secaucus, NJ.<\/p>\n

\"FanDuel<\/a>
FanDuel CEO Amy Howe (left) sits on stage with CNBC’s Contessa Brewer during a keynote session of the SBC Summit North America at Secaucus, NJ. Howe claimed 25% of sports bettors who wager with an offshore operator never get their winnings. (Image< Casino.org)<\/figcaption><\/figure>\n

Howe, who was interviewed by CNBC<\/em> Reporter\/Anchor Contessa Brewer, touched on several key topics during her 40-minute segment, including the economic outlook on gaming, competing with offshore sportsbooks, and working to prevent underage betting.<\/p>\n

It was the latter topic that led to Howe saying FanDuel would not look for sports betting partnerships with college athletics departments. It\u2019s one thing to take bets on a college football or basketball game, she said. However, it\u2019s a more \u201cnuanced\u201d answer when it comes to partnering with a university, as it does with such teams as the New York Yankees.<\/p>\n

I don\u2019t want the FanDuel name showing up on a jersey or plastered all over a college stadium,\u201d<\/strong> Howe said. \u201cSo, we\u2019re going to tread much more carefully because you\u2019re targeting an audience that is, by definition, a lot of those consumers are underage.\u201d<\/strong><\/p><\/blockquote>\n

Not all operators have taken that position. PointsBet has an official relationship with the University of Colorado, and Caesars Sportsbook has a partnership with LSU.<\/p>\n

Underage betting is becoming a key issue in the campaigns to legalize sports betting in California<\/a>. FanDuel is working with six other national sports betting operators. They intend to spend up to $100 million to get voters to back a constitutional amendment on the Nov. 8 ballot to allow online betting statewide.<\/p>\n

Tribal gaming entities in California, who are pushing a measure to allow sportsbooks in their casinos, oppose the online measure. They argue that allowing online betting increases the risk of underage wagering.<\/p>\n

The former president and CEO of Ticketmaster joined FanDuel as its president in February 2021. She became the interim CEO after Matt King departed from that position in May 2021. Last October, Howe had the interim tag removed from her title.<\/p>\n

Offshore Sports Betting Remark Questioned<\/h2>\n

Howe also addressed the challenges commercially licensed US sportsbooks face while competing against offshore operators that still cater to American markets. In doing so, Howe made a statement that raised some eyebrows among sports bettors.<\/p>\n

Her comments echoed some of the issues more than two dozen members of Congress raised in a letter<\/a> to the US Department of Justice two weeks ago. That’s when they called for Attorney General Merrick Garland and the DOJ to take a harder stand against the offshore operators.<\/p>\n

Offshore operators are not paying taxes in US jurisdictions, nor are they funding responsible gaming initiatives, Howe said. In addition, data shows that \u201c25% of those consumers will never be paid out\u201d by offshore books.<\/strong><\/p>\n

As news of that comment hit Twitter, some very high-profile bettors reacted with skepticism over that claim.<\/p>\n

\u201cIt\u2019s probably good for everyone\u2019s sake I wasn\u2019t present at that panel,\u201d tweeted professional sports bettor and podcast host Spanky.<\/p>\n

\n

Jack Andrews, a cofounder of Unabated Sports, cited his 20 years of industry experience in saying the \u201cceiling\u201d for unpaid bettors is 1%.<\/p>\n<\/div>\n

When asked for comment after Howe\u2019s presentation, a FanDuel spokesperson told Casino.org<\/em> that Howe was likely sourcing a report from the American Gaming Association (AGA) on illegal gaming.<\/p>\n

A check of AGA reports on offshore gaming did not immediately discover any reporting of such a figure. However, a 2020 survey<\/a> by Heart + Mind Strategies for the industry trade group found that 25% would shift to the legal market because they would have confidence in collecting their winnings.<\/p>\n

Economy an Issue<\/h2>\n

The US gaming industry has been on a long winning streak as the country has emerged from the COVID-19 pandemic. However, Howe said it would be \u201cdisingenuous\u201d to say gaming executives aren\u2019t concerned, especially with inflation at levels not seen since the 1980s, and fears of a recession looming.<\/p>\n

While Howe said \u201cthe fundamentals of our business\u201d remain sound, the economic uncertainty is already starting to affect some parts of the industry. Namely, it has cooled off merger and acquisition activity.<\/p>\n

There still will come a time when the US sports betting industry contracts, Howe said. There won\u2019t be 12, 15, or more operators vying for bettors\u2019 dollars.<\/p>\n

It\u2019s just a matter of when.<\/p>\n

\u201cI think the question is when you look at some of the operators right now, to what degree are they going to need financial backing or capital to get them through this period of time,\u201d <\/strong>she said. \u201cI can say for us right now, we\u2019re in a very good position.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Don\u2019t expect to see FanDuel go after partnerships with colleges as long as Amy Howe leads the US sports betting giant. That was one of the points the company\u2019s CEO brought up Wednesday during a wide-ranging keynote conversation at SBC Summit North America in Secaucus, NJ. Howe, who was interviewed by CNBC Reporter\/Anchor Contessa Brewer, […]<\/p>\n","protected":false},"author":45,"featured_media":221130,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,1074],"tags":[],"acf":[],"yoast_head":"\nFanDuel CEO Amy Howe Talks Underage Betting, Offshore Apps at SBC<\/title>\n<meta name=\"description\" content=\"FanDuel CEO Amy Howe explained why she does not want her company to be a sports betting partner for a college sports program.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FanDuel CEO Amy Howe Talks Underage Betting, Offshore Apps at SBC\" \/>\n<meta property=\"og:description\" content=\"FanDuel CEO Amy Howe explained why she does not want her company to be a sports betting partner for a college sports program.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-14T03:19:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-14T19:38:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Howe_Fan_Due.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2192\" \/>\n\t<meta property=\"og:image:height\" content=\"1233\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Bittenbender\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Bittenbender\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/\",\"url\":\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/\",\"name\":\"FanDuel CEO Amy Howe Talks Underage Betting, Offshore Apps at SBC\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Howe_Fan_Due.jpg\",\"datePublished\":\"2022-07-14T03:19:48+00:00\",\"dateModified\":\"2022-07-14T19:38:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/eb30e765d812fc9b38b333f8d13068b2\"},\"description\":\"FanDuel CEO Amy Howe explained why she does not want her company to be a sports betting partner for a college sports program.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/fanduel-ceo-amy-howe-discusses-underage-betting-offshore-operators-at-sbc\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Howe_Fan_Due.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/Howe_Fan_Due.jpg\",\"width\":2192,\"height\":1233,\"caption\":\"FanDuel CEO Amy Howe (left) sits on stage with CNBC's Contessa Brewer during a keynote session of the SBC Summit North America at Secaucus, NJ. 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