Speaking exclusively to Gambling Insider for the Sports Betting Focus edition, Cohen said he is starting to sound like a "broken record" when talking about US sports betting.
He said: "I keep saying this until I sound like a broken record; there is no such thing as the US sports betting market.
"There are potentially going to be 50 independently regulated, independently organised, very different state-wide markets. Inside those markets there will also be tribal markets that may operate in a slightly different way to the commercial side."
The repeal of PASPA last May allowed each state to separately legalise sports betting. As a result, each state will operate its own very different sports betting market, according to the IGT executive.
While it may be tempting to slap the same approach across all regulated states, offering a product unique to each market will provide the best opportunity to maximise revenue.
Cohen explained: "You only need to look at the differences between New Jersey and Nevada to see how different these markets could be."
Technology will have to be specifically tailored, unique terms in legislation addressed and specific market demands met.
Cohen was speaking to Gambling Insider at length to compare the US and UK sports betting experiences. Register for free here to read the full interview.
