Sports Betting Legend Bill Walters Co-Founds New Advocacy Group: An Interview With The CEO

Professional sports bettors Gadoon “Spanky” Kyrollos and Billy Walters recently formed American Bettors’ Voice (ABV). This non-profit organization aims to represent sports bettors during the regulatory process. Already, the group is gaining interest from regulators of top sportsbooks in Massachusetts. TheLines.com spoke with ABV CEO Richard Schuetz about the group’s goals and how it all started.

Schuetz spent two and a half years in a PhD program covering the history of the Nevada Gaming Control Board from 1945 to 1966. Schuetz has also been a part of 122 licensing investigations and served four years on the California Gambling Control Commission.

Why American Bettors’ Voice Was Formed

ABV co-founder Billy Walters is a legendary sports bettor and convinced the IRS to allow him to put professional gambler as his occupation on his tax returns.

“At this stage in my life, I am eager to give back to an activity that has given me so much,” Billy Walters said in a press release. “Bettors deserve to be treated fairly, and we at American Bettors‘ Voice are unwavering in our commitment to this cause.”

Walters teamed up with Spanky, who has also been connecting sports bettors at an annual convention in Las Vegas.

“Well, you know Spanky has been involved in the betting community somewhat, and he’s developed a (sports betting convention) called Bet Bash … He thought it would be a nice environment for learning and comradery and all that. And he also put together the Sports Gambling Hall of Fame,” Schuetz told TheLines.

With the growing sports betting industry, it made sense to the group that bettors should also have a voice in regulatory discussions.

“And we kind of came to the conclusion that there was a third leg of the stool missing,” said Schuetz. “That had to do with bettors having no representation in the discussions … When regulators have round tables, they invite the operators in. They don’t invite the bettors and it just seemed to us that bettors should have a voice.”

MGC Member Wants ABV At Player Limits RoundTable

The Massachusetts Gaming Commission (MGC) met on Wednesday to discuss an upcoming public roundtable on sportsbook player limits. MGC member Eileen O’Brien said that the commission should contact ABV during the meeting.

“Well, I think that’s good,” said Schuetz. “Regulators should be talking to people that have knowledge. If you look at a lot of regulatory agencies, when I was appointed by Gov. Brown in the state of California, no prior appointment had any gaming experience … How would you like to go in for surgery knowing that the people that regulate and develop the procedures for that surgery don’t know about operating on people.”

Schuetz said he doesn’t think regulators should be making decisions without first consulting experienced people. He believes it’s good that the MGC is starting to listen.

“It’s just crazy. So, I think that the regulators should be looking for insight. And (sports betting) is a new thing. They’re not too familiar with it in this country … They should be looking to people who have experience. It’s just logical. So, it’s nice that they’re listening.”

ABV: Player Limiting Hurts Battle Against Offshore Betting

This will be the second panel the MGC will be discussing the issue of player limits. During the first discussion, Commissioner Nakisha Skinner highlighted comments from locals. According to Skinner, the comments overwhelmingly indicated that regular patrons were being limited because they were winning.

The ABV also has a view on the player limiting issue.

“What we’re saying is the regulators should look into it,” said Schuetz. “They had this meeting where they all agreed to come, and then no one showed up. That’s kind of a tell.”

Schuetz shared how the ABV believes regulators should handle the limitations. For starters, the ABV wants regulators to use their power to start collecting data monthly. The data should include who is being limited and the reason behind why they are being limited. Schuetz also believes that player limiting is counterproductive in combatting the offshore industry.

“Everyone said we gotta stop the offshore market,” said Schuetz. “And the first thing these books do is say, ‘Well, we’re not going to take your action.’”

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The Goal Of American Bettors’ Voice

The goal of ABV is to help regulators ask the right questions.

Schuetz said he believes the organization can help lawmakers explore some things they might not be thinking about. Their history and knowledge in the industry will hopefully be an asset to regulators. So far, the MGC has already shown interest in them.

“We are sports betting fans … We are trying to make for a sustainable industry. That’s what we want. That’s our goal.”