The longtime practice of limiting wagers from winning sportsbook players by operators is coming under more scrutiny from state gaming commissions. Late last week the Wyoming Gaming Commission (WGC) heard a presentation from American Bettors’ Voice chairman Gadoon “Spanky” Kyrollos on the topic as part of an effort to better understand the issue.
As regulated sports betting has exploded in the United States, sharp bettors are finding their action limited or barred entirely for reasons that are frequently not explained. Throttled players, including professional gamblers like Kryllos, argue that regulated operators should be much more transparent in explaining exactly what takes to get limited.
“It’s become an epidemic essentially how these operators are treating customers. It’s not just smart customers that are being treated this way. It’s customers that do their homework, read more, and are able to analyze more,” Kryllos told the commissioners in comments reported on by SBC Americas.
Kryllos argues that throttling winning players also throttles innovation and free markets. “Bookmaking requires talent. You have to employ proper talent for the bookmaker to make money because it is a dynamic market. If you don’t have that talent, you lose money as a bookmaker and there are several that have gone broke because they didn’t have the skill level to be able to manage a market and move lines accordingly,” he pointed out.
While the WGC is merely gathering information on the subject, Massachusetts regulators seem open to establishing actual written standards for limiting play. If more than a few states get interested in this subject, regulated operators may see some big shifts in their business practices.