Legislators take aim at sports betting advertisements as worry increases about gambling’s risks.
For Noah Vineberg, problem gambling is close to home. Before seeking treatment seven years ago, he thinks he gambled more than $1 million. He earned some money then lost more, causing strained ties with his wife and four children. He was able to repair such ties after receiving treatment at a rehabilitation clinic in Windsor, […]
Fanatics investigates using Crypto.com to build a prediction market.
Fanatics, a sports merchandise company, is in negotiations with Crypto.com to enter the rapidly expanding prediction markets business, where users wager on pop culture, politics, and sports. With companies like Polymarket and Kalshi expanding quickly and fetching large valuations, the move would expose US-based Fanatics to a sector whose popularity has skyrocketed in the last […]
Ambitions Predictions Drive DraftKings and FanDuel Away From AGA
The nation’s biggest two online gaming companies, DraftKings and FanDuel, are no longer affiliated with the primary trade association and lobbyist for the sector. On Monday, both businesses left the American Gaming Association. Following their withdrawal from Nevada last week, it is the most recent move by both businesses to depart from conventional gaming operators […]
Johnson Advances the Chicago Sports Betting Tax
Among a number of potential revenue legislations that will further enrage licensed Illinois sportsbooks, Chicago Mayor Brandon Johnson proposed a 10.25% tax on the city’s sports betting earnings. This tax would be higher than the state’s present revenue and per-wager tax sliding scale, which ranges from 20% to 40%. This year and last, Illinois state […]
New sports bar opens at Hard Rock Casino Sacramento, ready for future sports betting
In preparation for the legalization of sports betting in California, the Hard Rock Casino Sacramento at Fire Mountain has opened a new sports bar. Gambling and watching the big game should go hand in hand for Northern California casino patrons. As the casino gets ready for the potential of sports betting, the new sports bar […]
Operators in Massachusetts are prohibited from providing prediction markets in the state, according to the regulators in the state, according to the regulator.
Operators received a letter from the Massachusetts Gaming Commission (MGC) on Thursday morning cautioning them against providing prediction markets within the state. The MGC did not discuss how it will deal with state-licensed operators that offer or collaborate with prediction markets in other U.S. jurisdictions, in contrast to other authorities. The letter states, “Please accept […]
Nevada is the first state to take action against FanDuel and DraftKings for their involvement in the prediction market.
The Nevada Gaming Control Board announced on Wednesday afternoon that it had “granted administrative approval of requests to withdraw all pending applications” for gambling by DraftKings and “accepted the surrender” of FanDuel parent company Flutter’s “Order of Registration” and any other licenses. A few states, including Nevada, have cautioned regulated sports betting companies from participating […]
ProphetX is switching from sweepstakes to prediction markets.
ProphetX believes it has discovered a solution to the rapidly worsening financial issue, and it is wagering that the Commodity Futures Trading Commission will concur. Instead of navigating state-by-state gaming restrictions, the sports betting website has filed to become a federally regulated prediction market exchange, allowing it to operate nationwide under the CFTC’s jurisdiction. In […]
Illinois casinos increased statewide casino revenue by 21.2% year-on-year in October.
Thanks to the launch of new casinos, Illinois casinos brought in $165.8 million in October, a 21.2% year-over-year increase over the $136.8 million earned the previous year. Hollywood Joliet Casino, which launched a land-based presence in August, saw the largest revenue growth, at 46.3%, from $7.4 million to $10.8 million, according to the most recent […]
A downtown Indianapolis casino might be a huge success for Indiana. Here is why it is a difficult sell.
Despite a recent research forecasting that a downtown casino would capture hundreds of millions of dollars that existing sites leave on the table, the state’s top lawmakers are skeptical of Indianapolis’ need for a casino. Instead, some Central Indiana legislators want to move a gaming license from Indiana’s worst-performing casino to the report’s No. 2 […]
