Pundit Billy Walters Says US Betting Could Be Better

Sports betting pundit Billy Walters has criticized the US wagering industry, pointing out its weaker points. Speaking at the National Council of Legislators from Gaming States (NCLGS), the expert said that there are certainly a few things that could be better.

Walters Believes US Betting Could Be Better

According to Walters, the industry is unwilling to cooperate with people who actually possess an intimate knowledge of the betting sector and involve them in important regulatory and legislative discussions. Walters furthermore believes that the US market is currently monopolized, hurting its transparency.

The pundit also noted that sportsbooks are now willing to place restrictions on successful bettors in order to protect their profits. He called this practice unfair and urged state regulators to do something.

Walters also questioned the extensive presence of European operators in America, alleging that they do not understand the sector well enough. However, he approved the British market’s lack of taxes on money won.

Walters supported a measure that would allow players to carry forward losses to the next year, using them to offset taxes on winnings. According to him, such a change would greatly benefit the market, encouraging bettors to play more.

While supportive of a freer market, Walters also acknowledged the importance of responsible play.

Walters Founded American Bettors’ Voice to Drive Positive Change

The sports betting pundit plans to champion his vision for the US sports betting market through the American Bettors’ Voice – an organization that he founded alongside Gadoon “Spanky” Kyrollos, another well-known bettor.

American Bettors’ Voice will represent the interests of sports bettors in regulated markets, aiming to make them a part of the regulatory conversations.

The nonprofit seeks to ensure that the sector is fair, transparent and customer-centric. To that end, it will discuss many important topics, such as withdrawal times, dispute resolutions and transparency when it comes to gambling companies’ lobbying efforts.

Billy Walters, for context, is a betting expert who is well-known for his involvement in the sector. As someone who has been a part of the sector for years, Walters hopes to usher in positive change.

He was once accused of insider trading but managed to avoid serving prison time thanks to then-President Donald Trump.