CEO of Gambling.com Charles Gillespie believes that legalizing betting market in the US is almost no impact on the popularity of offshore bookmakers - at least in the short term.
According to the expert, legal bookmakers take a long time to begin to fully compete with their offshore counterparts. He explains this by the shortcomings of the existing regulation, as well as the general immaturity of the market.
"The USA residents are positive about regulation, but the offshore market is still mature and healthy. Illegal bookmakers invest hundreds of millions of dollars in their products. You can not just open up the legal market and wait for all users at once will go there, it is very naive. If you really want to attract investment in a new market, do not raise taxes and simplify the licensing process", - explained Charles Gillespie.
Nevertheless, the expert noted that he was surprised by the rapid process of legalizing the betting market in the United States. He believes that Tennessee has adopted one of the best legislation to regulate sports betting.
"In Tennessee has one of the most market-based approaches in the United States, which is that you can only bet on mobile devices. This greatly simplified the political conversation. The taxes and fees here are high, but quite acceptable, as a result of which you get competitive and interesting markets in America for sports betting", the expert said.
Earlier, the New York senator proposes to legalize mobile betting in the state. He believes that this will help to avoid the diversion of money to neighboring New Jersey.