A veteran of more than two decades in the gaming industry, Joe Brennan, Jr. has been at the forefront and has led the effort to legalize and regulate sports betting in the US, culminating in the US Supreme Court’s landmark decision in “Murphy v NCAA, et al” in May 2018 that led to legal wagering. He also led the successful effort to establish regulated online gaming in the US, which launched in 2013.
Joe was inducted into the Sports Betting Hall of Fame in 2021, and was co-founder of Prime Sportsbook, which was licensed and launched in 2023. He has been consulted by leading private & publicly traded gaming companies, private equity and government regarding new market creation and regulation; technology, data & infrastructure; and market differentiation in the global gaming and betting industry.
A graduate of both Marietta College and Johns Hopkins University, BetOhio.com sat down with Joe for a little Q&A:
1) With so much success and innovation you have created over the years in this ever-changing industry, from bucket list items of legalization to creating a sportsbook, what is the next bucket list item for you that you would love to see checked off?
Brennan, Jr.: "Finding a way to get all of the liquidity into the US regulated market that is either being turned away (by limiting or closing the accounts of winning players) or that has never even attempted to enter the market. We always said that there was a dollar being bet with the unregulated guys for every dollar that’s bet with the regulated guys, but now the AGA has upped the ante on that one by claiming that is two dollars for every dollar bet in the regulated market. That’s a recipe for problems, but it’s probably not enough to simply hector the big recreational sportsbooks into taking bets from winners. The answer is somewhere between that and what we have today, and that’s where I’m looking."
2) What do you think the impact of Prime Sportsbook will be down the road?
Brennan, Jr.: "I hope it would be that taking bets from sharp players isn’t as ruinous as some of the brands claim it to be. About 90% of our action comes from sharp guys, and between New Jersey and Ohio, we had a six-figure loss for the year. That’s it. I would hope some of the big brands would look at that and think, hell if Prime can practically fight the sharps to a draw, with all of our resources, we can do much better than that."
3) You had said on your LinkedIn post, you are taking a bit of a listening tour reaching out to bettors, sportsbooks, industry leaders, etc., what is the goal of that and how do you think it can help the industry down the road?
Brennan, Jr.: "My goal is to get out of my own head and experience and get into others’ heads and experience. I have strong opinions, but I think I’m insecure enough to know that I don’t have a monopoly on the truth. Especially from the perspective of the players, I want to get their take on how this legal US market is working out, where are their pain points and disappointments, but also what they see working well. There’s a lot going right in the market, but it’s still suboptimal, and it’s better to have dozens of smart people telling you their point of view on it than thinking one person can capture it all."
4) What do you think the industry's next "big thing" is going to be?
Brennan, Jr.: "Some we can’t even see right now, because it’s either still in someone’s brain or still being developed. But it’s inevitable that something will eventually come and clear the board of all the top players. All empires fall."
5) Being a Philadelphia Eagles fan myself, has the smile on your face subsided a bit with the Super Bowl title in hand and is a repeat in the cards? Also, who do you like in March Madness?
Brennan, Jr.: "Maybe answering this the day after free agency started wasn’t the best time, but the smile was off my face by now, anyway. If you’ve ever won a championship yourself, in any sport at any level, you know that feeling of elation passes quickly, and then it’s time to get on with the work towards another.
"College hoops is a mess this year, there’s no one team that looks to be the one to beat, and there’s probably more than half a dozen or more that could pull it off in a single-elimination tournament. If I had a sentimental favorite, it’s probably St. John’s. I grew up with Big East basketball, and I remember when Pitino took Providence to the Final Four in ’87. It’s probably the old guy in me, but I would like to see the Big East on top when all is said and done."
Joe Brennan Jr. Bio:
A veteran of more than two decades in the gaming industry, Joe led the effort to legalize and regulate sports betting in the US, culminating in the US Supreme Court’s landmark decision in “Murphy v NCAA, et al” in May 2018 that led to legal wagering. He also led the successful effort to establish regulated online gaming in the US, which launched in 2013. Joe was inducted into the Sports Betting Hall of Fame in 2021, and was co-founder of Prime Sportsbook, which was licensed and launched in 2023. He has been consulted by leading private & publicly traded gaming companies, private equity and government regarding new market creation and regulation; technology, data & infrastructure; and market differentiation in the global gaming and betting industry.
Joe was educated at Marietta College and Johns Hopkins University.
