Hitting Home Runs

Sports Betting Operator Magazine catches up with the SuperBook’s Jay Kornegay

Jay Kornegay, the Vice President of Race & Sports Operations at the Las Vegas Superbook

ur inaugural edition

Oof Sports Betting Operator in 2019 featured an interview with Jay Kornegay, the Vice President of Race &

Sports Operations at the Las Vegas

Superbook. In this issue we catchup with Jay to discuss the advances in sports betting, and the impact the Covid pandemic had within the industry.

Since our discussion a couple years back (2019), there has been significant growth in Sports Betting in Las Vegas and around the States. What recent changes would have had the most significant impact on the Sports Betting industry? In the big picture these consummated deals we’re seeing are changing the landscape as we speak. The consolidation in this space is happening sooner than later. The next few years should be interesting with market access, intellectual property, and technology being the keys moving forward. Additionally, the top companies most likely will own their own platforms.

The growth in sports betting has been tremendous and is surpassing most expectations across the country. Currently, other jurisdictions are realizing how much people enjoy wagering on sports. Certainly, technology makes it very convenient and plays a part. It’s a simple interest in this activity that the industry is now discovering. We just opened some doors and they’re knocking these doors down to wager on sporting events.

As we move forward, the changes we’ve seen since PASPA was overturned in 2018 most revolve around technology. (PASPA is the Professional and Amateur Sports Protection Act). The technology is going to continue to grow but I don’t think it will really mature or find its rhythm for another 3-5 years. The technology that’s out there right now is somewhat challenging for the operators, as the technology cannot keep up with all our thoughts, needs and wants. It will catch up very soon, and it will be polished within 3-5 years.

Vegas is a little different. As people are beginning to experience sports wagering in other jurisdictions, they’re starting to come here and taking that newly discovered entertainment channel to another level. Even though they have sports betting in their own state, they cannot duplicate what we have here in Vegas. So, they’re coming here to enjoy one of their favorite entertainment options with all the other amenities Vegas has to offer. Nevada sports numbers have been tremendous and some are record setting during the last 12 months.

Have there been updates or advances in the technologies at the SuperBook, for instance betting, payment or other technologies? SuperBook is its own separate entity outside of Nevada. The SuperBook here in Las Vegas is still operated by the Westgate. However, the SuperBook team runs all operations. Currently, we have two different systems in place. We utilize Stadium Technology within the state of Nevada, and we’re using IGT system outside of Nevada. When you cross over different platforms, it creates different levels of technology. Because of this, there are certain things we can do in Colorado that we’re unable to do here in Las Vegas and vice versa. Eventually we’ll all be molded into one and be able to offer everything to our patrons, despite what jurisdiction they’re located.

Some of the biggest changes lately

have been in the funding processes, where we’ve spent a lot of resources and time as other operators have, so patrons can fund their accounts and withdrawing from their accounts – making it an easier journey for them. This includes the verification process, where customers can be verified. The processes and steps have been significantly upgraded from what existed a couple years ago.

Also, if you compare the sports betting apps from a couple years ago versus what you see today, you can certainly see a significant upgrade in the user experience. That’s being improved every single day. Everybody’s taking steps to improve the process, including betting options, funding options and promotional offerings. These include promotions and odds boosts – all those types of offerings have been upgraded to make the experience better than it’s ever been.

These technology upgrades take time and resources and a lot of effort. I can only imagine what we’ll see in this space five years from now.

What impact has there been due to the Covid pandemic? How has the Westgate weathered the pandemic? Well, the pandemic shook our world as it has everybody else’s. It hindered the progress we were all making in the industry. It limited a lot of our business practices to a point that we couldn’t complete some of our opportunities. With the restrictions on travel, it slowed down everything for us. When it first started and progress was shut down, the sports world was one of the first to re-invent itself, allowing consumers to get a taste of reality again.

The sports world was able to offer sports like UFC, golfing events and some second and third tier sports – a great relief for many in the industry, operators and sports betting enthusiasts. For those who were cooped up in their homes, it really put sports and wagering in the limelight

as there wasn’t a lot going on in the world. As the sports industry trickled back to life, so did sports wagering. Even though the consumer didn’t have a lot of entertainment options like going to games, concerts or shopping, in most jurisdictions they were able to sign up for a betting app from their couch. Sports that normally didn’t get a lot of attention from the bettors were on the forefront. Fans could put $20 on an event and suddenly they’d have an interest in it. Sports betting became one of the few entertainment options available.

As the other sports returned during the pandemic, with the available apps, things began to snowball for the sports betting industry. We reached a point in recent months, that despite the uprising in Covid and its variants, sportsbooks have been setting numbers that we’ve never seen before.

During the pandemic it was interesting to monitor the differences between unrestricted jurisdictions versus those with limited options. Bettors and operators benefited

ABOVE: Jay Kornegay and Bill Healey from Sports Betting Operator Magazine from the ability to sign-up remotely and fund and withdraw remotely. They were able to make wagers conveniently – which led to a significant increase in those unrestricted states.

In our past discussion, there was mention that you were looking to expand the SuperBook brand outside of Nevada. What has been progress on expanding the brand? Our SuperBook Sports brand opened in Colorado at the end of last year with our mobile offering. We followed that by opening our retail outlet at The Lodge Casino in Blackhawk Colorado this May. We’re also prepping our mobile channel for New Jersey, with four or five more states on deck. Our goal is to have 3-4 more states by this time next year.

Sports Book Operator Magazine appreciates the time Jay has given us to follow-up on the profile in our inaugural issue – and to provide insights on what they’ve achieved during the pandemic.