Sports Gambling Tickets

1. Sports Betting Tickets
2. Sports Gambling Tickets Nyc

[toc]PropSwap, an online exchange service for sports betting slips, is spreading its wings beyond its Nevada nest and expanding into four new states.

PropSwap, you say?

Sports Betting Tickets

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Launched in 2015, PropSwap is a marketplace for live, active betting tickets.

Bettors who are stuck with unfavorable tickets can hedge their bets by selling the slips on PropSwap’s exchange. Buyers who missed a big line can lock in a better price than they might be able to find at the time.

For example, say a bettor places a futures wager on the Las Vegas Goats at 100/1. The Goats shock the world and win their first few games, and the price slips to 25/1. The bettor can list their slip on PropSwap at, say, a price equal to a 50/1 payout, both hedging their bet and providing an opportunity for buyers that would not otherwise be available.

“I post a slip for sale, a buyer writes them a check, the seller is happy — they don’t have to be sweating the game Sunday, and they get a nice chunk of change,” co-founder Luke Pergande said in an interview with the Las Vegas Review-Journal.

The idea came to life following a 2013 trip to Las Vegas in which Pergande placed a futures futures wager at 50/1. He explained the rest of the story to Legal Sports Report:

They went 7-1 to start the season and the odds dropped to 15/1. I called my now business partner (Ian Epstein) who worked for CG Technology at the time, and asked where can I sell this ticket in Vegas. He said nowhere. It seemed like a gap in the market so we set out trying to solve it.

PropSwap opened for business less than two years later in August 2015.

How it works

The functionality has grown over the past two years, and more streamlining is on deck, according to the founders. Here’s how it currently works:

1. A bettor in Nevada places a bet in a brick-and-mortar sportsbook.
2. The seller uploads a photo of the betting slip to PropSwap’s client, enters the details, and sets the sale price.
3. PropSwap verifies the validity of the ticket and lists it on the marketplace.
4. A buyer purchases the slip with a credit or debit card.
5. The seller mails the slip to PropSwap.
6. PropSwap delivers the slip to the buyer via certified mail.
7. The buyer redeems the slip with the sportsbook, either in person or via mail.

In order to insure the transaction, PropSwap requires credit card information from the seller. It takes a 10 percent commission from the final price, so there’s no up-front fee for either party.

PropSwap touts this process with a number of testimonials on its site, like this one:

WIN! – Steve from San Francisco sold his GSW Futures for $8,000 (collect of $10,500) when they were up 3-1 against the Cleveland Cavaliers. Greg then flew to the Bahamas that day and let the rest of us watch Curry & Co. collapse. True story.

Expanding to more states

For the first two years of its operation, PropSwap was a Nevada-only product.

On September 1, the concept is rolling out to four more states:

• Massachusetts
• New Jersey
• Pennsylvania
• Connecticut

While all four states have gambling establishments within their borders, single-game wagering is still illegal in all of them. New Jersey has passed a law to legalize sports betting, but that effort is pending an appeal in the US Supreme Court. Connecticut just passed legislation to regulate it last month, and it’s encouraging to see regulators from the other states willing to let PropSwap operate, too. And it makes sense from a legal standpoint.

Since buyers are receiving physical tickets, they’re not betting on sports, by definition. The ticket is simple property, and it falls under the same laws as any other piece of paper. This piece of paper, though, may or may not have significant value depending on the outcome of the bet that was placed back in Nevada.

PropSwap’s founders met with regulators in each state to review the legal landscape prior to making the move.

Operating within regulators’ recommendations

Because it is not a gaming entity, PropSwap is not regulated by the Nevada Gaming Commission. Still, it takes due care as it operates around the perimeter of gaming.

When it was only serving the Nevada sports betting market, PropSwap facilitated the actual payout of the ticket itself. While that is still technically legal, the NGC advised that it would prefer to see that changed. So it was. The buyer is now fully responsible for redeeming the tickets, either in person or through a mail exchange with the sportsbook.

By treading carefully, PropSwap seems to be making progress. When it launched, sellers had to conduct transactions in person at a terminal inside a sports bar in Las Vegas. The seller also had to provide the physical ticket before the marketplace would list it.

With the expansion, the process now operates electronically and in real time. The seller’s credit card is pre-authorized when a ticket sells, guaranteeing the transaction and expediting the exchange. Sellers have seven days to submit the ticket to PropSwap if it sells.

The real-time functionality has an additional benefit that the company thinks will be key to its growth. In addition to futures slips, bettors can now list tickets for straight bets, and buyers have the ability to make purchases both prior to and during the game.

It’s tough to find sellers

Talking bettors into giving up their tickets is one of PropSwap’s biggest obstacles. Many gamblers would rather let a bad bet ride than take a buyout up front. Pergande and co-founder Ian Epstein elaborated on the issue:

Convincing bettors to sell their ticket has been a much larger challenge than we had initially thought. They see the ‘Collect’ amount on their ticket, and won’t accept anything less than that. The psychology theory behind it is called ‘Loss Aversion’. People don’t want to be the guy who sold their ticket too early.

PropSwap’s expansion to the northeast could be a boon for potential sellers, though. Whereas they were previously limited to the prices fellow-Nevadans were willing to pay, the market is now open to thirsty would-be sports bettors from states in which options are limited. There should be a significant increase in the margins at which sellers are able to shed their tickets.

Gearing up for even more?

The prospect for out-of-state expansion led the company to broadcast a $6 million valuation in 2016. This year, it appears to be gearing for a big push to help drive its growth.

PropSwap has reached out to potential investors, LSR has learned, trying to raise up to $500,000 under that valuation. It refers to the fundraising as ‘building a moat’ in preparation for the competition it expects to enter its neighborhood.

“As we grow,” Pergande said, “the plan is for all visitors that come to Las Vegas to make bets with PropSwap in mind, knowing it doesn’t need to win in order to make a profit, it just needs to improve.”

Like any good letter to investors, this one contained a coyly worded caution in its close, too. If the expansion goes as planned, PropSwap says it may feel justified in increasing its valuation.

Now that more states are legalizing sports betting, there’s a need to cater to an increasing customer base across the country — and also cut down wait time at counters manned by less experienced ticket writers, taking wagers from less experienced bettors.
​One way casinos are meeting the higher demand is through kiosks. Betting, or gaming kiosks, have been used overseas for years and are now making their way to the United States.

Betting kiosks aim to improve the customer experience by cutting down wait time. With multiple betting kiosks available, bettors will be able to place a wager whenever they please, instead of waiting in lines. And this will keep patrons happier and coming back for the experience.

Most kiosks offer the full suite of wagering options you’d expect online, both pre- and in-game, including parlays and prop bets. They are designed to offer an intuitive user experience with simple navigation and live odds, some of them with feeds from games alongside the betting menus.

Benefits of Betting Kiosks

• Easier access for customers to place wagers, shorter wait times
• Use cash, a voucher or the sportsbook’s player account card that’s prepaid with funds
• Kiosks can pay out winning tickets using above methods of funding
• Novice bettors may prefer to navigate through prompts on screen than write down/remember “rotation numbers” with a teller
• Patrons can sit down at some kiosks and live bet while watching games

There are currently (at least) five companies that distribute betting kiosks: Kambi, SB Tech, SG Digital/Scientic Games, International Game Technology (IGT) and Stadium Technology Group.

Sports Gambling Tickets Nyc

Kambi

Kambi is currently working with DraftKings, SugarHouse and 888 Sport to provide betting kiosks.

Players can either feed cash into the kiosk or buy a voucher, which can be scanned at the terminal. They work on a session-based system so players can place numerous bets if they wish and print a ticket with their wagers/balance at the end of the session. These tickets can then be re-scanned to continue to play at a later time.

Your local sportsbook may give the option to use an account card for betting at home online (where permitted), and on the casino floor by using one card. Patrons scan the card at the terminal and get access to their balance, live wagers and account information. Wagers placed at the casino can then be managed at home, on a mobile device or desktop computer.

SB Tech

SBTech’s kiosks make it simple for players to place wagers in a sports betting venue, receive a printed ticket and make withdrawals without the need for any assistance. The kiosks are already being used by SBTech’s partners at venues including:

• Golden Nugget in Atlantic City, NJ
• Golden Nugget in Biloxi, MS
• Harlow’s Casino Resort & Spa in Greenville, MS
• Riverwalk Casino Hotel in Vicksburg, MS

Players can be given the option to credit the kiosk with funds from their online account by swiping their membership card. This feature is dependent upon state regulations and is not currently permitted in New Jersey or Mississippi. The option may be available in the future or in new states.

International Game Technology (IGT)

IGT provides betting kiosks for FanDuel Sportsbook in New Jersey. They also debuted a smaller kiosk in Las Vegas that allows casinos and bars to deliver a sportsbook in a box to betting fans.

IGT’s new CrystalBetting Terminal is the next generation of IGT kiosks, allowing bettors to make in-play wagers, and provide live betting options within land-based casino environments. With a private and personal 27” interactive touch screen, players can stream multiple sports events at the same time, while also placing individual bets, creating parlays, and interacting with in-play wagering options.

Players can personalize their viewing experience by selecting the events they wish to stream live. In addition to pre-game wagering, players are provided with extensive in-play and real-time wagering suggestions tailored to the events they’re watching. Bettors can wager with cash directly at the terminal with no need to go to the counter.

Stadium Technology Group

Currently, Stadium Technology Group kiosks can be found at the Santa Ana Star Casino in New Mexico. They were recently approved by the Nevada Gaming Control Board. The kiosks are expected to go live in Nevada and other states in the first quarter of 2019.

The kiosk accepts cash and voucher wagering along with loyalty cards and account deposits.

To place a wager, the patron selects a game and touches the ‘Build Your Bets’ button. On the Build Your Bets screen, players can enter the desired bet amount and select a bet type, as well as choosing which of the previously selected games will be included in the wager.

At any time during the wagering process, the customer can touch the finish button to receive a voucher with their available balance.

SG Digital/ SciGames

The release of the first SG Digital kiosks are expected in mid-2019, with Caesars casinos being the company’s initial operating partner.

SG Digital kiosks will provide an intuitive user interface instructions to guide bettors through the process of placing basic bets, such as straight bets and parlays.

The main page will allow bettors to sort by sport, and then listings of events in time order along with options to bet on the three main markets (spread, moneyline and totals). Customers will have multiple ways to search for the type of bet they wish to place including:

• Search by team or player name
• Search by Don Best Rotation ID
• The ability to scroll down through the sports event hierarchy through sport, league, event, markets and selections.
• Marketing will also provide shortcuts to go directly to selections of interest.

Kiosks will be funded by cash and vouchers. Soon after release, customers will be given the ability to bet using their online funds.

At least one of these company’s kiosks will likely be coming to a sportsbook near you.