Cantor Gaming favors Miami Heat to win NBA championship
Cantor Gaming, the Las Vegas-based company poised to take advantage of nationwide gambling on mobile devices when it is legalized across the United States, said Wednesday that it expects pent-up demand for NBA wagering to drive audiences to wager on Christmas Day, when five games tip-off the 66-game regular season, according to a Sacramento Bee report.
Mike Colbert, Cantor’s Race & Sports Book Risk Director, said:
“The Heat are the favorite to win this year’s championship, followed by the Lakers, Bulls, Thunder, and Mavs.”
In the state of Nevada, Cantor’s Android-compatible mobile sports wagering application already allows people to bet on games. In addition, Cantor is an innovator in “in-running” gambling, which allows gamblers to bet on propositions as the game develops. For example, if the Heat’s LeBron James has racked up 40 points by the end of the third quarter of a game, Cantor may present a proposition on whether James will go over or under 53 total points in the game.
Reform to the Unlawful Gambling Enforcement Act and The Professional and Amateur Sports Protection Act, passed by Congress in 1992, are needed in order to allow legal sports betting on mobile devices across the United States.
Today, because of Federal law, an estimated $380 billion annually in illegal sports betting is conducted in the United States annually, according to National Gambling Impact Study Commission. Much of that is conducted through the online portals of offshore casinos, which are widely known to provide poor customer service and slow payouts. Reform would prove a boom for mobile device application developers.
Research firm Gartner Group estimated that global mobile gaming revenues reached $5.6 billion in 2010, and predicted the market would grow to $11.4 billion dollars by 2014.
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