"Retail sports betting is not a successful business… 97.2 percent of the total sports betting market is online. To get people motivated to get off their butts… You have to create an entertainment center. And entertainment centers really involve a number of demand generators." ~ Alyse Cohen
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This week’s guest on the Talking Shop Podcast is Alyse Cohen, the Founder of ALC Hospitality and owner of Long Shot’s off-track-betting parlor in Maryland, a 100% woman-owned sportsbook and Off-Track Betting (OTB) facility in Frederick, Maryland.
Alyse discusses her journey into the gaming industry, which was rooted in her rural Maryland upbringing near a horse farm. In 2019, she acquired an OTB license and later expanded into retail sports betting.
Elise explains the challenges of retail sports betting, noting that 97.2% of Maryland’s sports betting market is online, making it challenging to compete with giants like DraftKings and FanDuel.
Alyse advocates for Historical Horse Racing (HHR) machines at Maryland’s five OTBs. She believes these machines can revitalize OTBs, create jobs, and capture revenue that spills over the border to neighboring states without cannibalizing the state’s casinos.
Entrenched casino interests see it differently. The two points of view will be discussed during hearings in the Maryland Legislature on March 5 and 6.
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