Amy Howe is the CEO of FanDuel

Amy Howe is the CEO of FanDuel

As long as Amy Howe is at the helm of the US sports betting giant, there will be no partnerships with colleges. That was one of the points the company’s CEO brought up Wednesday during a wide-ranging keynote conversation at SBC Summit North America in Secaucus, NJ.

During her 40-minute segment, Howe touched on several key topics, including the economic outlook on gaming, competing with offshore sportsbooks, and working to prevent underage betting.

Howe said that FanDuel wouldn’t look for sports betting partnerships with college athletics departments. She said that taking bets on a college football or basketball game is one thing. It is a more cautious answer when it comes to partnering with a university, as it does with the New York Yankees.

Not every operator has taken that position. PointsBet has an official relationship with the University of Colorado, as well as a partnership with LSU.

The campaigns to legalized sports betting in California are faced with the issue of underage betting. Up to $100 million will be spent by six other national sports betting operators to get voters to support a constitutional amendment that would allow online betting statewide.

The online measure is opposed by tribal gaming entities who are pushing a measure to allow sportsbooks in their casinos. They argue that online betting increases the risk of young people gambling.

The former president and CEO of Ticketmaster joined FanDuel. Howe had the interim tag removed from her title last October, after Matt King left the position.

Howe made a statement that raised some eyebrows among sports bettors when he said that US sportsbooks face challenges while competing against offshore operators that still cater to American markets.

More than two dozen members of Congress wrote a letter to the US Department of Justice two weeks ago urging them to take a harder stand against the offshore operators.

Howe said that offshore operators were not paying taxes in the US. 25% of those consumers will never be paid out by offshore books, according to data.

Some very high-profile bettors were skeptical over that claim as the news of that comment hit.

It’s probably good for everyone’s sake I wasn’t present at that panel.

When asked for comment after Howe’s presentation, a FanDuel spokesman told Casino.org that he was most likely referring to a report from the American Gaming Association.

There was no reporting of such a figure when a check of AGA reports was done. According to a 2020 survey by Heart + Mind Strategies for the industry trade group, 25% would shift to the legal market because they would have confidence in collecting their winnings.

The gaming industry in the US has been on a winning streak. Howe said it would be disingenuous to say that gaming executives are not concerned, especially with inflation at levels not seen since the 1980s and fears of a recession looming.

Howe said the “fundamentals of our business” remain sound, but the economic uncertainty is already affecting some parts of the industry. There has been a cooling off of merger and acquisition activity.

Howe said that there will come a time when the US sports betting industry contracts. There will be no more than 15 operators vying for the same amount of money.

It is just a matter of when.

When you look at some of the operators right now, what degree are they going to need financial backing or capital to get them through this period of time, she said. I can tell you that we are in a very good position.

Summary:

US sports betting giant PointsBet’s CEO Amy Howe has said that it’s “nuanced” to partner with a university as it does with such teams as the University of Colorado. “It’s one thing to take bets on a college football or basketball game, but it’s a morenuanced answer when it comes to partnering with a university as it does with such teams as the University of Colorado,” she added.