- Mattress Mack was featured at the SBC Summit in New Jersey and spoke about regulated books lowering their betting limits.
- During this conference, Mack also talked about his dislike for promotional play, because it does not incentive bettors to keep betting.
NEW JERSEY – The third edition of the SBC Summit North America is taking place, and Jim Mclngvale “Mattress Mack” has joined as a guest speaker, talking about his experience and issues he has with the current sports betting market.
Change From Promotional Play To A Winning Narrative
McIngvale, a notorious bettor who became famous for betting millions on the Houston Astros to win the World Sers, explained his issues at this annual conference with sportsbooks setting betting limits and attracting new customers through promotions play.
Sportsbook operators like FanDuel, DraftKings, and Caesars offer first-time bet insurance, for new bettors who want a second chance if their bet fails. McIngvale believes that this is the wrong strategy, however, and they should solely be promoting bettors who win big, making people want to consistently bet with the sportsbooks.
“The industry needs to go up as far as what you’re going to take, not down,” McIngvale said during the SBC Summit.
He shared his belief in changing the sportsbook operators’ incentives during the conference.
Offshore Books Lack Of Betting Limits
During this conference, McIngvale also talked about how offshore sportsbooks, that are operated and licensed from countries outside of the US, are still having success in the sports betting market in the US. He expressed his desire for regulated books to be more accepting of large bets, even if these regularly payout and result in loss of revenue.
Part of his argument was that limiting bettors on how much they can wager, could potentially lead them to the offshore sportsbooks in the market. Being from Texas, he also expressed his eagerness for the state to receive regulated sports betting.
Most of these topics of conversation derived from recent criticism of regulated sportsbooks that limit players depending on their previous success. In most extreme cases, this takes the form of limiting them down to betting with pennies.
Ben has been an avid sports fan his whole life and mostly follows football and basketball, both professional and collegiate. He has been covering topics that vary from Super Bowl prop bets to articles about the generated revenue from regulated sports betting. He is currently finishing his Editing, Writing, and Media Degree at Florida State University, with a minor in Business. Diving into the world of sports betting, he is ecstatic to work in an area that has combined his two passions of sports and writing.