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Speaking to CNBC's Contessa Brewer as part of Wednesday afternoon's highly anticipated - and packed - discussion on the state of sports betting in the USA, Amy Howe, CEO of FanDuel, was asked why companies like Bovada make it so tough to compete with the legal regulated market. Bovada was specifically cited as part of this discussion.
Brewer admitted her email lit up following an article noting how FanDuel and other regulated sports betting companies had urged Attorney General Merrick Garland to prosecute offshore sports betting sites over their inability to compete.
"I was bombarded with messages from pro gamblers telling me where I was wrong," Brewer said, adding "I don't think I was wrong by the way."
She said "They (the professional sports bettors) were telling me 'we are driven to offshore sites because we can only bet $250 max'."
Howe said that was "absurd", pointing out that they can offer these types of incentives and take high wagers because "they are not paying taxes".
Howe added: "Whether they tell you this or not, 25% of these consumers will not get paid."
Say what?
It's not immediately clear where Howe pulled that figure from. Maybe out of a hat?
FanDuel CEO speaks at SBC Summit pic.twitter.com/O6ajW5dVJw
— gambling911 (@gambling911) July 13, 2022
- Chris Costigan, Gambling911.com
