Buffalo Wild Wings wants to get into sports betting

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DraftKings CEO: Legal sports betting will bring innovation

Wings and wagers? Buffalo Wild Wings thinks they seem to be a pure match.

The sports activities bar chain, which has about 1,200 eating places in all 50 states, stated it’s exploring the potential of providing sports activities wagering now that the Supreme Court docket has opened the door for states to legalize sports activities betting.

“As the most important sports activities bar in America, we consider Buffalo Wild Wings is uniquely positioned to leverage sports activities gaming to boost the restaurant expertise for our company,” an organization spokesperson stated Thursday. “We’re actively exploring alternatives, together with potential companions, as we consider the subsequent steps for our model.”

Three states — New Jersey, Delaware and Louisiana — have legalized sports activities playing for the reason that Supreme Court docket resolution in Could. Earlier than the ruling, Nevada was the one state the place it was authorized to guess on sports activities.

Many different states are contemplating laws that can enable for sports activities betting within the hopes of cashing in on what might be a multibillion greenback business.

“We’re nonetheless ready for state legislatures and regulators to hash out licensing guidelines, so it is unclear how they’re going to [Buffalo Wild Wings] have alternative to take part,” stated John Decree, head of North America fairness for Union Gaming, a boutique funding financial institution that focuses on the gaming business.

Present there are 43 states with some kind of authorized on line casino. However even states with out casinos may transfer to permit sports activities playing.

Decree stated that he thinks it is doubtless that Buffalo Wild Wings will accomplice with a longtime on line casino or different sports activities betting entity, slightly than attempt to get licenses by itself as states transfer to permit sports activities wagering.

“It’s going to be exhausting for them to attempt to get licensed in each state that enables it. There’s plenty of authorized prices and time concerned,” he stated.

A lot of the approaching growth in sports activities gaming is anticipated to happen on-line, particularly on cell apps, that means that many shoppers watching video games at a Buffalo Wild Wings will have the ability to place bets at quite a lot of sports activities books of their states.

Decree stated it is doubtless that some states that enable on-line wagering would require individuals to place cash on their account in individual and utilizing money, slightly than utilizing a bank card.

In that case, Buffalo Wild Wings may attain an settlement with some sports activities books that may enable individuals to place cash on their account in one in every of their eating places.

“That alone can generate plenty of foot visitors,” he stated.

Buffalo Wild Wings was bought for $2.9 billion earlier this 12 months by privately-held Arby’s.

CNNMoney (New York) First revealed August 9, 2018: 1:43 PM ET

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