William Hill talks about its’ positive impact
Commentary
By Nick Leonetti
Since 2012, New Jersey lawmakers have considered turning sports betting into a popular and lucrative part of the state’s popular gambling culture. During his tenure as governor, Chris Christie signed a legal proposal in order to allow sports betting in the state’s 12 casinos and four racetracks. This was put on hold due to obstruction of four major sports tournaments in North America, however. New Jersey didn’t give up, though, and as of June of last year, Governor Phil Murphy signed a new law regarding sports betting, and New Jersey finally got the green light.
Gambling can now be enjoyed on both college and professional sports; however, the law prohibits anyone from accepting bets for college games played in New Jersey and on out-of-state games involving New Jersey teams. Since then, Governor Murphy has been a strong proponent of sports betting. It has even been conjectured that New Jersey could possibly corner the market by the end of this year, and this includes surpassing Las Vegas.
It is no wonder why William Hill, one of the world’s leading betting and gaming companies, is now operating in New Jersey. The positive impact the medium has already made on the state’s economy is incontrovertible. Joe Asher, CEO of William Hill US, stated: “You look at the number of jobs that have been created, the economic spending in New Jersey, the tax revenue (not just from us but from our competitors as well). It’s taken an industry that was… illegal… and giving them a legal alternative, brought new people to the legal market.” The outcome is a lucrative one, not only for William Hill and the state’s economy, but for the job market too.
Mr. Asher seemed like a laid back guy during our conversation, but a person must have to be with so much responsibility on his shoulders. When asked what some of the challenges of being based in Las Vegas are, Asher replied, “The growth has been really fast, so it puts a strain on resources. But it also has created a lot of opportunities. Folks who work for us in Nevada have gotten a chance to advance, sometimes moving somewhere else [which can be] good for them and their families; for others, it’s a chance at moving up quickly [in the system].” In other words, he sees the benefits this expansion carries and how it reflects positively on the company. In the end, it’s a win-win.
Like virtually every other medium out there, sports betting has not been passed over by technology. With the rate and speed at which technology moves, even a giant company like William Hill has to stay on its toes constantly. “Technology has changed pretty much every aspect of our society,” Asher said. “At one point in time, they used to write the bets down by hand on tripartite copy paper and then 25-30 years ago, they came up with a computerized bookmaking system that allowed the writer (as they call them) to type the events into a machine and issue a ticket, and then people came up with the idea of having a kiosk [to make betting easier].” With the advent of the Internet, smartphones, and apps, sports betting changes radically every day. William Hill has done a fine job keeping up with it all, and Asher is confident that it will keep doing this.
Even with sports betting being legalized, there will always be a few bad apples hanging around. “Nobody’s under the illusion that the day we opened for business, the illegal bookies decided it was time to go back to school to become accountants,” Asher said with a laugh. “There’s been more focus on the sports and the sports betting now, but I don’t think for a minute that the illegal bookies have gone away.” Like anything, this is a complicated issue. “People have decades’ long relationships with their bookies. That’s not going to go away all of the sudden.” At any rate, it seems that the legal way is the right way. Why risk it all when there are companies out there like William Hill that are dependable and legitimate? It’s a no-brainer!
When considering everything, this is no small feat. Asher said, “There are real strains… we’re investing a substantial amount of money… making sure we understand the regulations in different jurisdictions, making sure we have the right people.” He goes on to say, “Those are some of the challenges, but we have a great team of people with a lot of expertise and experience.”
At this point, it is still illegal in a number of states. Maine, for example, has so refused to jump on the bandwagon, which seems like a mistake. The fourteen states that are now offering sports betting as a legitimate pastime, especially New Jersey, are showing great promise in regard to their tax revenues being garnered. Some states haven’t been making quite as much, but the potential is there. It is surely only a matter of time before Florida, New York, and California make the leap.
If our state is any indicator, a financially positive impact for everyone is due to sports betting. The jobs in the service industry are seeing a splendid boost, and the positive bump in state’s tax revenue is more than apparent. It seems we are heading in the right direction. There will always be constant obstacles set by technology; however, companies like William Hill seem to be in good hands with guys like Joe Asher at the helm. And, if anything, it is good to change things up every once in a while and try something new. We have seen as a society in the past that when we get comfortable and stagnant, things start to get worn down and frayed. Sports betting is by no means a new phenomenon, but it has the ability to inject fresh blood in a rather dated industry. And with the ever-flowing river of technology at our fingertips, the potential for new and exciting endeavors is endless!
Nick Leonetti is an adjunct professor at Stockton University. He is married to the poet Maria Provenzano. E-mail any questions regarding his writing at NLeonetti85@msn.com.
