Connect with us

Uncategorized

Wyoming Gave Green Light To Independent Bookmakers’ Experiments with Crypto

Published

on

After successful sports betting launch in September, Wyoming is now one of the latest states to provide a regulated sportsbook market to those inside the state borders. The state has legalized a bill allowing the integration of sportsbooks and crypto-friendly wagering. Wyoming is the least populous state in the US. But, such independent betting sites you can check are increasingly becoming attracted to Wyoming mostly because of its decision to legalize the use of crypto-based blockchain technology during betting transactions in sportsbooks.

The United States Supreme Court repealed the federal ban on sports betting on May 14, 2018, when it abolished the Professional and Amateur Sports Protection Act (PASPA). After about three years, now some models of sportsbook betting are legalized in about 26 states along with Washington, D.C as well and the others are on their way.

This rapid growth of sports betting across the US has created a competitive marketplace for the bookies where they attempt to chalk out a strategy that offers customers the thrill to choose their own platform. Tapping on their taxable revenue, these jurisdictions try their best to create a favorable atmosphere.

It is worth noting that it took more than 3 years for a state to create legislative laws that would embrace the use of cryptocurrencies.

According to State Rep. Tom Walters, Wyoming’s betting laws will now allow punters to place their bets in digital currencies. He says that this law will be applicable when “operators” of sportsbooks are willing to embrace the crypto and iGaming industry future. The new law allows gamblers to fund their accounts with a plethora of digital and cryptocurrencies, Bitcoin being the most popular of them all. According to House bill 133, sports betting shops in Wyoming declare that they may accept any “digital, crypto, and virtual currencies” only if they can be denominated into a conventional cash-based currency.

Wyoming state legislators have also decided to welcome smart blockchain technology into crypto trading. And finally, they have also approved a couple of crypto-friendly bills to attract more attention to the crypto-markets. Wyoming’s Senator Jeff Wasserburger, one of the bill’s sponsors, is of the opinion that crypto conversations are so common in the Senate chambers that there “was very little discussion” during the inclusion procedure of cryptocurrency in the sports betting bill of the state. Senator Jeff further says “I think that Wyoming legislators are getting more comfortable with cryptocurrency as the issue evolves in our state.” According to CoinDesk, Wyoming’s legislators have stated that the inclusion of cryptocurrency is now almost second nature in their legislative agenda.

For the people within the state lines, the ability of the gamblers to fund with cryptocurrency might not seem pathbreaking. But, Wyoming has also given a vote of confidence to the bookies to start exploring a plethora of possibilities with the technology. The inclusion of crypto-friendly transactions comes with quick and secure funding and withdrawal methods.

How Wyoming’s Sports Betting Industry will be Revolutionized by Blockchain Tech?

It is known that sports betting is a tremendously profitable industry. The US could generate a revenue of more than $20 billion if more than 50 states legalize betting.

Mr Gaurav Soni, GammaStack CEO has always been in support of crypto and blockchain tech integrated sportsbook software solutions. He states, “There is already a massive demand in crypto and blockchain-based betting and gambling software solutions around the globe. 35% of the queries we receive revolve around the same.” The blockchain smart contract has not only changed the funding and transactions but also increase the safety and security of these transactions. The sportsbook software would greatly benefit from this tech as it introduces a quicker and safer method of transferring money among all sports. Operational costs will be greatly reduced if the operators could get rid of the charges levied while processing credit cards. Low operational costs would mean more taxable revenue for the bookies.

The endorsement of crypto as a legalised payment method changes the entire scenario. It will soon attract bigshots like DraftKing and FanDuel. Colorado is the most competitive sports betting market in Wyoming. Adding to that, Wyoming’s sports betting can also function through their mobile-friendly framework as most sports bets take place in Wyoming through mobile platforms.

Concluding Thoughts

According to the legislation passed, cryptocurrencies, in all forms, can be used as denominations of cash in the state of Wyoming. This implies that all virtual or crypto-assets can be transformed into cash for wagering in the online sports betting platform. These legalization laws are sure to provide fuel to the sportsbooks putting their money in further exploration of the possibilities with blockchain tech. This technology, undoubtedly, has its potential uses in the sportsbook industry. With the inclusion of crypto in this industry, Wyoming’s legislation has opened the door for the entire betting market.

Continue Reading
Advertisement

Uncategorized

How Media Professionals Have Contributed to the Growth of the NFL

Published

on

Photo Credit: https://unsplash.com/photos/KgYazRO3l8A

The media’s impact on the growth and success of the NFL is invaluable. Being able to consistently project and maintain a vibrant media image has brought remarkable dividends to the NFL.

Media professionals have contributed immensely to the NFL’s growth, including in the sports betting sector. Because of the involvement of media professionals with the NFL, many NFL bettors can now take advantage of promotional offers that have similar benefits as 400% Casino bonuses.

Exploring the media’s impact on the NFL will offer appreciable insights into how media professionals improve other lower American football structures in the United States.

The NFL’s Relationship with the Media

Since the NFL’s establishment in 1922, no professional sports body has reached its growth, success, and stability level in America. Beyond America, no professional sports body has annual revenue and profit as the NFL. What is the staying power behind the NFL’s incredible success?

The NFL’s success is tied to its relationship with the media. This relationship developed in 1939 when the NFL began to televise its games. It has birthed several innovations that continue to align the NFL and American football with success.

The Media’s Contribution to the Growth of the NFL

The media has improved how American football is viewed and received by audiences. Media professionals have also improved American football’s marketing and business.

While most sports bodies will float internal media platforms to handle their games and other media responsibilities, the NFL has maintained a vibrant relationship with traditional and new media outlets.

This is the main reason why the changing media landscape has not affected American football as drastically as other sports in America.

Some benefits of the NFL partnership with the media are:

Revenue Generation

The biggest revenue source for NFL teams is the annual National Broadcast rights fees. The NFL’s marketing enterprise pays a lot of attention to media campaigns such as advertisements, promotions, TV broadcasts of games, publicizing, etc., that generate revenue.

Viewership Growth

The Super Bowl in February recorded over 100 million viewers within America. This mind-blowing figure could only be conceived due to the NFL’s collaboration with several traditional and digital media outlets.

The NFL’s media coverage creates a balanced space for stakeholders to air their views without inhibitions. Everyone has a media platform to air their opinions, from fans to NFL stars, NFL teams, journalists, etc. When every stakeholder has a voice, tackling issues becomes easier.

Availability of Information

NFL fans are always curious about the latest information about their teams. Many bet on NFL games. Therefore, they need to gain insights into their team’s activities and chances.

Media professionals provide the latest and balanced analysis weekly during the NFL season or seasonal breaks. With the media, NFL fans are guaranteed undiluted interactions and information right at the tip of their fingers.

Conclusion

The NFL and American football have benefitted from new and traditional media coverage due to their long-term relationship with the media. Unlike other sports bodies, the NFL has always accommodated the media. They have also given media professionals a free hand to thrive. That is why the media has delivered immense benefits to the NFL and American football.

Continue Reading

Uncategorized

How Does the Media Contribute to Live Sports Experiences?

Published

on

Photo Credit: https://unsplash.com/photos/Xm2yaJqNsc0

The relationship between the media and sports is communal. Both sports and the media work together to deliver premium live sports experiences to both the fans in the sports arena and those watching on their devices at home.

Many sports fans are oblivious of the many roles that the media plays in creating live sports experiences. Most of the media’s roles are in the background but are very important to the success of sports events. The media is the backbone behind all the entertainment that sports provide. Even on sites like this, the media contributes to the entertainment delivered to slot players.

The media’s role doesn’t start and end with the game’s coverage on your television, radio, and other devices. The media begins to contribute to the success of every live sports event right from the beginning, i.e., the planning stage. It doesn’t even end when the lights in the sports ground go out, and sports fans return to the comfort of their homes feeling satisfied by their team’s performance. The media carries on for much longer by keeping the conversations flowing and preserving the memories forever.

Important roles the media plays in live sports

Without the media, sports events may not be a big source of entertainment. The media wields a lot of influence on the success of sporting events. Still, many sports fans trivialize the role of the media.

Here are some ways the media contributes to the spectacular live sports experiences and entertainment that sports fans get from sports events:

●    Event format and schedule

Right at the start, the media contributes to planning any major sports events. Only the media can guarantee a perfect schedule for sports events, especially those meant to reach international audiences. Sports organizers usually work with licensed media providers to help them determine the right time to start the sports events. The media also contributes to the format of sports events and helps design the different stages of any sports competition.

●    Publicity

Publicity is perhaps the most popular role of the media in live sports events. Publicity is important. The media provides the tools to disseminate information to sports fans about the upcoming sports events. The media also makes them look forward excitedly to the event. The media promotes the sports event and drives it to the subconscious mind of sports fans using different tools and strategies. Countdowns, pundit analysis, opinion polls, game reviews, fan predictions, pre-game press conferences, etc., are just some of the tried and tested media promotional strategies that hype the buildup for live sports events.

●    In-game entertainment

The media is present at every step of the process that contributes to live sports experiences. Most sports fans relish the experience of being physically present at sports arenas because of the thrills and frills that the live sports experience offers. From sports arena announcements that charge the crowd to music that gets them in the groove. Fan cams and social media discussions keep fans engaged in sports arenas hosting live events.

●    Ongoing Conversations

When the game ends, the media keeps the flames of the sports events alive. From press conferences to game analysis, game reviews, interviews with players and fans, and sports events reportage on television, the media helps to sustain the momentum of sports events long after they have ended. This allows fans to relive their experiences and positions them to look forward to the next sports event.

●    Event Appraisal

The media holds a vantage viewing position in every sports event. The Media can see far and wide, and can help organizers to understand several areas that need improvement. As long as the media’s roles throughout the sports event are not relegated, they can map out future objectives to help organizers deliver a bigger and better sports event.

●    Keeping Memories Alive

The media also serves as a memory bank and reference point for sports fans to rediscover sports events whenever they like. Sports event memories are treasures that can never be lost with the media.

Conclusion

The media’s role is enormous. It contributes immensely to the success of live sports events. Sports fans need to respect sports media professionals because of their contribution to the success of sports events.

Continue Reading

Uncategorized

Online Sports Betting Rules and Regulations in the USA: An Overview

Published

on

Although gambling is legal in most states across the US, online sports betting is still a bit of a grey area. The rules and regulations regarding online sports betting vary from state to state, so it’s important to check with your local authorities before placing any bets on the NFL stats.

In general, however, most states require bettors to be at least 21 years of age and to be physically located within state borders in order to place a bet. Now, let’s explore this topic more closely.

The History of Online Sports Betting in the USA

The history of online sports betting in the USA is a long and complicated one. While there are many different factors that have contributed to the development of online sports betting in the USA. Let’s explore the two most important ones:

– The development of online gambling platforms and the growth of mobile technology: Mobile technology has played a huge role in the growth of online sports betting in the USA. With more people using smartphones and tablets to access the internet, it’s now easier than ever before to place bets on sports from anywhere.

– The legalization of online gambling: While online gambling was technically illegal in the USA for many years, this changed in 2018 when the Supreme Court struck down a federal law that had banned it. This paved the way for individual states to legalize and regulate online gambling within their own borders.

The Legality of Online Sports Betting in Different States in the USA

The legality of online sports betting in different states in the USA is a bit of a gray area. There are no federal laws that specifically address the issue, which means that it is up to each individual state to decide whether or not to allow it.

So far, only four states have legalized online sports betting: Nevada, Delaware, New Jersey, and Pennsylvania. In these states, you must be physically present in order to place a bet.

The other 46 states have not yet taken any action on the issue. In other words, online sports betting is currently not allowed in most of the country. However, this could change in the future as more and more states start to consider legalization.

Federal and State Laws Governing Online Sports Betting in the USA

There are some states that have laws against online sports betting in the USA, even though there’s no one federal law against it. The most notable state with this type of law in Washington, where online gambling is a felony.

Other states have laws that make online gambling a misdemeanor. These states include Arizona, Arkansas, Illinois, Indiana, Iowa, Louisiana, Montana, Nevada, New Hampshire, New Jersey, North Carolina, and Oregon.

The only federal law that pertains to online gambling is the Unlawful Internet Gambling Enforcement Act (UIGEA). This law prohibits businesses from knowingly accepting payments related to illegal online gambling. It does not make online gambling itself illegal.

Continue Reading
Advertisement

Barrett Media Writers

Copyright © 2021 Barrett Media.