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“At the end of the day, we see that the model is not sustainable,” says Jason Angelides. “Companies are paying a large bounty, up to $2,000, to acquire a customer and bring them to their apps. Then they provide no differentiation of product. The majority of gaming apps are very similar.”
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There is an argument to be made that legalization may lessen the stigma around sports betting and lead to healthier conversations about it. But there’s a flip side to that, too. Umali said he never had any kind of addiction before he started playing online poker and that he would never have begun playing had it not been legal.