GenPop: With the growth of mobile and the possibility for in-game bets on aspects of the game like “who’s going to score the next touchdown” or “who’s going to lead in the 5th inning,” it seems like there’s potential for the sports to adjust to accommodate that, or even new sports to develop with wagering baked in from the start.

Kornegay: There is kind of a blank canvas out there with the wagering, and as technology evolves and allows us to expand our world, the possibilities and the options are endless. There are certain sports that probably can use that type of boost of interest. I was talking to some officials [of a major sport.] They were trying to get their head around the gaming side. I said that it should be more interactive and they should embrace it. As fans have a little bit [invested in the event], the more interest they’ll have.

GenPop: People tend to lump legitimate betting on sports with things they see on TV. They’ll see a story about betting on which song Maroon 5 would play first at the Super Bowl, which is something you can’t do through an official sports book. But overall, are opinions changing about wagering?

Kornegay: Betting has always had this dark cloud hanging over it, going back to its roots, which were connected to organized crime. There’s still a lot of misconceptions of what we do out here in Las Vegas. Over the last few years, everything has changed. You never used to see the spreads on college football on game day. Now there are shows about sports gambling. There’s even more on the horizon as people get more comfortable with it and understand it and know that there’s nothing wrong with wagering on sports. People have no idea how regulated we are. We have an audit department that is specifically for the race and sports book that audits everything that we do. It happens every single night. It’s there to protect the consumer.

GenPop: Will clearing up misconceptions like that help reduce some of the stigma, especially as this kind of wagering becomes legal in more states?

Kornegay: There was a time when the NFL wouldn’t even allow Las Vegas to advertise during the Super Bowl, and the next thing you know we have an NFL team and could be hosting the Super Bowl soon. So, the climate changes very quickly.

GenPop: If you were a betting man, what would you see as a timeline when sports betting like this is legal in most, if not all, states?

Kornegay: As we speak, there are 12 to 14 different states that are seriously entertaining the idea. So that means you’re looking at anywhere from 15 to 25 to 30 states having some form of sports betting within the next two or three years.

GenPop: As the leagues get on board, the states start making money and betting is seen as a non-tax revenue source, will that snowball more quickly?

Kornegay: That’s always the driving force. But I think [the states] need to do their due diligence and know exactly what that’s going to bring. [Politicians and legislators] are announcing this as a potential $250 billion business. They were talking about “handle” [the total amount wagered], not necessarily revenue. It was a little disappointing that that type of information gets out there these days. The revenue streams [for states] are probably not what they think they’re going to be.