Wildhack: ‘We appreciate and support’ NCAA’s process to allow college athletes to profit off likeness

first_img Facebook Twitter Google+ Published on October 29, 2019 at 5:25 pm Contact Danny: [email protected] | @DannyEmerman The NCAA Board of Governors unanimously voted Tuesday to start the process of changing rules to allow college athletes to profit off their name, image and likeness. Michael V. Drake, chair of the board, said the vote directs each of the NCAA’s three divisions to immediately consider updating relevant bylaws and policies for the 21st century, per the NCAA’s press release. The board members said that all “modernization” should assure that college athletes are treated similarly to all other students, maintain the priorities of education and the collegiate experience, and emphasize competitive balance. The board also set a January 2021 deadline for each division to create new rules. When contacted by The Daily Orange for more information about the language of the board’s guidelines, the NCAA provided no further comment.“We appreciate and support the NCAA Board of Governors’ recent action that paves the way for student-athletes to benefit from the use of their name, image and likeness in a manner consistent with the collegiate model,” Syracuse Director of Athletics John Wildhack said in a statement. AdvertisementThis is placeholder text“Syracuse University will continue to elevate all aspects of our student-athletes’ experience. This includes providing enhanced academic support, holistic health and wellness resources and integrated academic advising and career planning,” Wildhack said. “These actions, and others, further position our student-athletes for success on the playing fields, in the classroom and beyond.”The news comes as several state legislatures have proposed bills that would allow college athletes to be compensated. California’s Fair Pay to Play Act was signed into law in September and allows college athletes in the state to profit from their likeness and hire agents. The NCAA Board of Governors previously condemned the California bill, saying it would “erase the critical distinction between college and professional athletics.” According to an ESPN report, the NCAA’s new rules will not follow the “California model” of a virtually unrestricted market. New York State Senator Kevin Parker proposed a bill in September that would evenly distribute 15% of every athletic department’s annual revenue to college athletes. Based on data provided by the university, SU Athletics generated $96,722,491 in total revenue across all sports in 2017-18, the most recent public figure.This story has been updated with additional reporting from Senior Staff Writer Michael McCleary.  Commentslast_img read more

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Trustly’s Nicholas Tucker: Fast payments, fast answers and fast Pay N Play pick up

first_img Internet Vikings appoints ‘marketing pro’ Stefan Backlund as corporate advisor March 20, 2020 Related Articles StumbleUpon Share SBC Magazine Issue 8: International expansion and picking up the sporting slack April 7, 2020 Share Submit SBC Digital Summit: ‘Cashless’ environments to take centre stage when retail returns – Samuel Barrett April 30, 2020 Fresh from completing a research study into ‘The Power of Fast Payments’ that yielded such an eye-catching set of takeaways for the industry, we went back to Trustly to delve deeper into the data that really matters for gambling operators.We’ve taken an educated guess that those interested in fast payments may also be here looking for fast answers. So, for the quick and easy responses from Head of Sales Nicholas Tucker, here goes: Has the value of payments been overlooked by the industry? No. Has the ‘race to the bottom’ approach to bonusing opened the door for payment innovation? Definitely. Are operators unjustifiably concerned about losing revenues from instant withdrawals? Yes.Now, these sharp responses could have been elicited by our line of questioning, or maybe we were just hitting the right notes for Trustly heading into next week’s Betting on Sports.In any case, Tucker proceeded to deliver some must-read insight into the influence of Pay N Play and where the company’s flagship product is seeing the biggest uptake, as well as some of the more surprising findings from last month’s fast payments research.SBC: Do you think the value of payments has been overlooked by the gambling industry?Nicholas Tucker: No! Personally, I think that successful gaming operators have always viewed payments as a core pillar of the success of their operations. The last thing you want is to lose the player at the first hurdle when they try to make a deposit or create a bad wagering experience by making it hard to access winnings. As a whole, we see much more expertise and innovation in payments within the gaming vertical compared to some others we work in. Essentially, for an operator to be successful, it needs to make payments as easy and frictionless as possible for the consumer. When you look at the cashier of a gaming operator vs an e-commerce or travel merchant, you will see far more payment options. I think this reflects the level of value and dedication placed on making payments possible for the player.SBC: Has the slowing of the ‘race to the bottom’ approach to player retention opened the door for payment-based innovations to take centre stage?NT: Definitely. We were seeing fierce competition between operators all trying to attract and retain players by offering huge bonuses (with hidden and confusing wagering requirements) but without much regard for what players wanted in terms of experience. Also, regulators are beginning to step in by simplifying or restricting the size and frequency of player bonuses, hampering this model of acquisition and retention. Through our Pay N Play product, we have helped operators switch the focus to player experience by offering a simplified registration and deposit process and improving the speed that winnings reach the player’s bank account. I think increasingly we will see payment, game and affiliate suppliers working closely with the operator to enhance the player experience rather than simply offering them a bonus to play more. The operators with the best player experience and strongest brand recognition (based on values players respect) will come out on top. This is what we have started to see in the Swedish market since regulation.SBC: Part of the research summary was that operators are worried about losing revenues when in fact instant withdrawals represent a revenue growth opportunity; was dispelling these concerns one of your biggest commercial challenges?NT: Yes! I have had conversations with some of the largest sports betting brands that indicate a very significant proportion of their revenue comes from cancelled withdrawals. It requires a big change in mindset to adopt a new approach, especially when some stakeholders within the business are worried about the impact on the balance sheet. However, once one operator in a market offers instant withdrawals (and it embraces the revenue growth opportunity), others soon follow as players begin to expect the functionality as a hygiene factor when considering which brands they play with.SBC: What were the surprise findings from the research?NT: Contrary to the belief of some of the more traditional operators, we have found that players increasingly prioritise the speed and access to winnings as a key driver of loyalty towards a brand. This is especially prevalent among VIP players. Out of the 1,700 players across nine countries that we interviewed during the research, we found that 94% want instant access to their winnings. Given the high cost of acquiring new players, it is more important than ever to keep active players happy by catering to their needs over the long term, such as instant withdrawals. Interestingly, 80% of players said they would gamble more if they were offered instant withdrawals by the operator. Another interesting find was that more people remember their bank login details versus their card details. Now that the ease of logging in and authenticating a bank payment is improving dramatically, supported by PSD2 and Open Banking, there is a genuine opportunity for direct bank payments to become the method of choice in markets where card schemes have previously dominated. This provides a platform for innovation around player registration, ID verification, source of funds and responsible gaming checks in markets like the UK.SBC: Finally, your Pay N Play product has quickly become an ‘industry standard’ in Sweden; in which other countries are you seeing the biggest pick-up?NT: We have seen fantastic growth in Finland and Estonia throughout 2019 and we are also seeing rapid adoption in Germany and recently the Netherlands. We expect the first brands to go live in Denmark by the end of the year and are hoping the product has a disruptive impact on this market, which has traditionally been card-focused.last_img read more

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