Caesars has contributed $4 million to a committee called Missourians Against the Deceptive Online Gambling Amendment. The campaign is working to encourage voters to oppose Amendment 2 during the November 5 election.

Retail licenses would cost $250K for five-year durations. Mobile licenses would cost $500K. Gross sportsbook revenue after promotional deductions would be subject to a 10% state tax.?

Caesars’ Opposition

Caesars operates three casinos in Missouri — Isle of Capri in Boonville, Horseshoe St. Louis, and Harrah’s Kansas City. It’s not customary for a major casino operator like Caesars to oppose efforts to expand gaming, but the company reportedly dislikes Amendment 2 because it would provide sports betting opportunities to too many competitors.

Caesars’ sports betting unit, Caesars Sportsbook, continues to trail DraftKings and FanDuel in terms of market share. Amendment 2 would allow those companies to enter the Show-Me State and, likely, assume control of Missouri’s sports betting industry.

Amendment 2 is a bad deal for Missouri. This deceptive measure was written by and for the financial benefit of its out-of-state corporate sponsors and funders,” said Brooke Foster, a spokesperson for Missourians Against the Deceptive Online Gambling Amendment.

DraftKings and FanDuel, along with the Kansas City Chiefs and Royals, and St. Louis Cardinals and Blues, funded the referendum campaign. They say the state is losing out on tens of millions of dollars each year by not allowing sports betting.

Winning for Missouri Education, the pro-sports betting campaign, is using education to rally support for Amendment 2. The referendum would mandate that most of the state tax proceeds from sports gambling go to K-12 public education.

Latest Polling

New polling from Emerson College/The Hill suggests the outcome of Amendment 2 will be razor-thin. With a margin of error of 3.3%, the poll found that 52% of likely voters in Missouri will vote in favor of the sports betting question.

About 25% of likely voters say they’ll vote against sports betting, and 23% said they were unsure.

“From their deceptive ads to the hypocritical name of their campaign committee, the Nevada-based company hopes Missourians never discover their true motives. The reality is that Caesars opposes Amendment 2 because they want a larger piece of the sports betting pie at the expense of Missouri classrooms,” Cardetti said.

The post Caesars Bankrolling Opposition Campaign to Missouri Sports Betting Referendum appeared first on Casino.org.

Financial terms of the accord weren’t disclosed. BetMGM’s data and odds will be published across the USA Today network, which includes more than 300 online news sites spanning over 200 markets in 43 states. That’s more than the 38 (and Washington, DC) that currently permit some form of sports wagering.

The agreement incorporates BetMGM sports betting odds into stories and content sharing betting odds, moneylines, spreads and over/unders for games as well as a BetMGM “Bet Now” feature. BetMGM Sportsbook and BetMGM Casino will be listed as a partner on website footers across all USA TODAY Network publications,” according to a statement.

The arrangement with Gannett expands BetMGM’s media footprint. Earlier this year, the gaming company became the official odds provider for the Associated Press and inked a partnership with social media platform X (formerly Twitter).

BetMGM, Gannett Deal Arrives in Time for Football Season

News of the pact between BetMGM and Gannett arrived just after the conclusion of the second week of the 2024 NFL season, indicating the companies have ample time to leverage the new partnership to capitalize on the most-wagered on sport in the US.

It remains to be seen if the Gannett deal is additive to BetMGM’s market share, but there’s optimism the agreement will bear fruit for both companies.

“We believe BetMGM complements our existing portfolio of partners and will enable us to drive further audience growth and engagement,” said Gannett CEO Michael Reed in the press release. “We anticipate this collaboration will immediately lead to an increase in the overall monetization of our content platform.”

Football Betting Could Top Expectations

Before the start of the season, the American Gaming Association (AGA) estimated US bettors would wager $35 billion on the NFL this year with regulated sportsbook operators. Just two weeks into the campaign, that forecast was already upped by one analyst.

“Based on our proprietary hold model, we calculate NFL market hold of 16% for the week of Sept 9–15, above our long-term average of 9%. We estimate total sports betting market hold of 12% for the week of Sept 9–15, assuming NFL hold of 16% and 9% hold for other sports,” observed Beynon. “New York reported sports betting hold of 7% for the week of Sept 2-8, below the long-term average of 9% and directionally in line with our estimate of 8%. Handle grew 14% YoY vs the same week last year.”

The post BetMGM, Gannett Unveil Long-Term Partnership appeared first on Casino.org.

In a suit filed in the US District Court for the Eastern District of Pennsylvania, the MLB players union is seeking compensation and punitive damages from Bet365 and DraftKings. Separate litigation filed in the New York State Supreme Court, New York County targets FanDuel and Underdog Fantasy. The MLBPA described the defendants’ misuse of player images as “flagrant,” adding it could be harmful to the athletes’ long-term earnings potential.

For professional athletes, the ability to control the commercial use of their names, images, and likenesses is a crucial return on their substantial career investment,” said the union in a legal document.

Professional athletes, including MLB players, often appear in advertisements for companies across a slew of industries, but they’re compensated for doing so. Some athletes, both current and retired, have appeared in commercials for sportsbook operators. However, the MLBPA argues that some of its members may not want to appear to be endorsing wagering, which is the perception some bettors may have when seeing those players’ images splashed across a gaming company’s website or mobile app.

For DraftKings, Second Players Union Suit

Specific to DraftKings, this is the second lawsuit from a players union faced by the company. A suit filed last month by the NFL Players Association (NFLPA) implies the Boston-based gaming company owes that labor group as much as $65 million over a nonfungible tokens (NFTs) deal gone bad.

The baseball players union said the gaming companies don’t use NFL players’ images on their platforms, and that the only reason they use baseball players’ images is as a means to entice bettors.

“Defendants’ use of player images within their sportsbook platforms is not merely informational — it is promotional,” the union’s lawyers said in the complaint. “Users could bet that the Phillies will beat the Marlins, or that Bryce Harper will hit more than two home runs in a given game, without seeing Harper’s valuable image. Indeed, both DraftKings and Bet365 offer the same types of bets in other sports without using player images.”

Player Images Increasingly Valuable

Advertising and promotions in the forms of cash or free bets are key components of how sportsbook operators attract new bettors, and high market-share betting firms such as DraftKings and FanDuel are known for their prolific use of celebrity endorsers.

While quantifying what an individual athlete’s name and image are worth is difficult because it’s a sliding scale between higher-profile and lesser-known profiles, some companies pay significant sums for use of pro athletes’ names and images.

It’s estimated that the MLBPA and NFLPA generate hundreds of millions in annual revenue from licensing pacts with video game publishers while trading card companies pay tens of thousands per player across the major sports.

The post MLBPA Sues Bet365, DraftKings Over Unauthorized Use of Player Images appeared first on Casino.org.

On a recent episode of the “Full Send” podcast, the UFC boss estimated that between January and March, he won $26 million to $27 million playing baccarat at Caesars Palace on the Las Vegas Strip.

Caesars Palace … I clipped these guys for $1 million a night from, like, the first week of January all the way into March,” said White. “I beat these guys for like $26 million, $27 million.”

He added “Caesars is gangster” and is the place to play for high-level gamblers.

Caesars allows White to play $350K per hand — a limit extended to him and a small amount of other well-heeled clients. At that level, winning $1 million or more in a night is plausible. It’s also feasible that a bettor could lose substantial sums, and White acknowledged there are nights when a bettor can get “wrecked” betting well into six figures per hand.

White is a Longtime Caesars Fan

White’s methodology, which he reiterated on the “Full Send” podcast, is possibly irksome to some casino operators. If he wins three hands in a row, he takes his winnings and leaves.

That makes for a $1 million+ night for him and a loss of the same amount for the casino that he “victimized.” As a result, many Las Vegas casinos refuse to take White’s action, which is why he’s long been devoted to Caesars and MGM Resorts International’s Bellagio. On the podcast, he said Caesars will allow him to bet $350K per hand while Bellagio will go as high as $400K.

Off the Strip, White is known to frequent Red Rock Resort in Summerlin, though he told “Full Send” he plays there at much lower limits because he’s that venue’s only client with the ability to play deep six figures per hand. Red Rock Resorts (NASDAQ: RRR) is controlled by Frank and Lorenzo Fertitta, who were early UFC Investors.

White Still Wants to Play $1 Million a Hand

Despite the fact that his biggest losing night was $8 million, White reiterated his longstanding goal of eventually betting $1 million per hand.

“That’s my goal. That’s my goal in life before I die,” said White on the podcast.

He said under that dream scenario, he’d want a casino to extend to him $30 million in credit so he can play $1 million a hand, but he acknowledged no gaming venue anywhere in the world is likely to indulge him.

The post Dana White ‘Clipped’ Caesars for $26M-$27M on Baccarat Earlier this Year appeared first on Casino.org.

Still, UFC spent $20 million to produce the show at the $2.3 billion venue, so its real profit will need to come from pay-per-view sales.

Though UFC CEO Dana White vowed never to return to the Sphere, he softened his stance on Saturday. He still told the assembled media “no,” but said it was because “I’m under contract with MGM.”

In 2017, the UFC signed a seven-year agreement with T-Mobile Arena, which is co-owned by MGM Resorts, to host at least four annual events at the venue, which is where White had hoped to stage UFC 306. The Vegas orb only became an option after MGM Resorts signed a deal, a year out, with boxing promoter Al Hyman to bring Canelo álvarez v. Edgar Berlanga to T-Mobile last weekend.

UFC 306, branded as Riyadh Season Noche UFC for falling on Mexican Independence Day Weekend, featured a bantamweight title matchup in which challenger Merab Dvalishvili destroyed defending champion Sean O’Malley, and a women’s flyweight bout in which former champion Valentina Shevchenko reclaimed her title from Alex Grasso, who snatched it from her last March.

The event sold out of the 16,024 tickets made available. However, hundreds of tickets remained available within hours of showtime on the resale market, with most going for steep discounts from their face values of $2,500 to $23,437.50.

Speaking on Saturday, White seemed more focused on UFC 306’s successes than its pitfalls.

“This thing, I told you guys leading up to this, the way that this whole thing played out, tonight was meant to happen,” he enthused at the post-event press conference. “It happened. We did it. We killed it.”

The post UFC 306’s Gate Receipts Break Sphere, UFC Records appeared first on Casino.org.

The complaint, filed last week by veterinarian Christine Tuma, claims track officials knowingly allowed unfit horses to run because they wanted to boost wagering revenues. This would help to raise money for a planned casino at the 133-year-old track, the suit asserts.

These actions led to the deaths of at least 21 horses between 2022, claims the lawsuit, which also names the Illinois Racing Board (IRB).

“Beginning on or before March of 2022, the RICO Defendants formed an enterprise, whose criminal activities were intended to enrich themselves, maintain their powerful positions, and generate funds for the construction of a casino at the racetrack,” it said.

Powers Stripped

Tuma, a former IRB board member, claims that she was stripped of her powers to disqualify sick horses in the fall of 2022 by Illinois Racing Board state veterinarian Dawn Folker-Calderon. That’s after a policy was introduced requiring a second veterinary opinion to be sought whenever Tuma declared a horse too sick to run.

If the two opinions did not concur, Calderon would have the final say. In this way, more than 80 of Tuma’s diagnoses were overruled, per the lawsuit.

Tuma also claims Hawthorne and IRB employees transmitted false information about the health of horses to federal and state regulators in Illinois and Kentucky.

Tuma was let go three months after she sent a whistleblower letter outlining her allegations to the IRB and Horseracing Integrity and Safety Authority. She was told this was to save costs but claims retaliation.

Tuma alleges the defendants are guilty of civil conspiracy, retaliatory termination, and violations of the Illinois Whistleblower Act, and as such her complaint meets the bar for a RICO suit.

Casino on Hold

Illinois passed legislation in 2019 that gave racetracks the right to apply for casino licenses. Later that year, the state granted Hawthorne preliminary approval to move forward, and it began demolition work on its grandstand. However, the project is currently stalled.

The Chicago Tribune reported in May that the track’s owners have been unable to get loans to build the casino and owe contractors $6.7 million.

Meanwhile, track officials said they would “vigorously contest” Tuma’s lawsuit in a statement last week.

Besides defaming Hawthorne, the oldest family-owned race course in North America with an unmatched record of safety and integrity, Tuma is using the legal system to settle professional disagreements with other, more experienced and accomplished veterinarians at the track and the Illinois Racing Board,” a spokesperson said.

“These professionals have dedicated their careers at Hawthorne and the racing board to performing with the highest degree of professionalism,” they added.

The post Hawthorne Race Course Denies Running Sick Horses to Boost Betting Numbers appeared first on Casino.org.

NSX operates the Betnacional brand. Including Betnacional, NSX is the fourth-largest iGaming and online sportsbook company in Brazil. Importantly to Flutter, the target is already profitable. Flutter said NSX is expected to generate 2024 revenue of $256 million on adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $34 million.

The $350 million transaction, which was announced last Friday, is scheduled to close by the second quarter of 2025.

NSX Buy Could Be Smart Move by Flutter

Flutter taking a stake in NSX could prove to be a prescient move because Brazil is slated to fully regulate its iGaming and online sports betting markets at some point next year.

That’s expected to open the floodgates for international operators to bid for licenses in the country. Flutter has an advantage because it’s already established in Brazil, but partnering with a local company like NSX could be viewed favorably by regulators and it’s a move some rivals have signaled they’ll employ as well.

“Strong demand for sports betting and iGaming products with compound annual gross gaming revenue (GGR) growth in the unregulated market of 38% since 2018, to almost $3 billion in 2023,” according to a statement issued by Flutter.

Brazil’s Booming Gaming Market

In the eyes of many US investors, Flutter is viewed as the parent of FanDuel — the largest online sportsbook operator in this country – and while that’s accurate, the company has a massive international footprint that includes exposure to Australia, Europe, and Latin America.

“Flutter Brazil will be exceptionally well positioned to take full advantage of the significant growth opportunity in the newly regulating Brazilian market,” concluded Flutter in the statement. “In line with our successful strategy in other newly regulated markets such as the US, we expect to drive market share growth and embed future profitability through disciplined customer investment. This is expected to result in a Flutter Brazil adjusted EBITDA loss of approximately $90 million to $100 million in 2025.”

The post Flutter Pays $350M for Majority Stake in Brazil’s NSX Group appeared first on Casino.org.

Dvalishvili devastated O’Malley, who had promised to take him down inside the first round, by unanimous decision in the five-round main event on Saturday night. Living up to his nickname of “The Machine,” Dvalishvili mauled his opponent in takedown after wrestling takedown, while transforming his five-inch-shorter stature into an advantage by using it to avoid O’Malley’s trademark knockout punch.

O’Malley successfully defended his belt against Marlon Vera at UFC 299 in March. But riding a 10-fight winning streak, Dvalishvili proved too much, and now holds an 11-fight streak.

“I feel like I’m in a dream,” Dvalishvili said in his post-fight interview. “I know O’Malley is good, but I made him look normal.”

O’Malley, who chose not to appear at the post-fight presser, tweeted: “Over promised, under delivered. Sorry. Love you guys.”

Dvalishvili had been a -120 favorite to win.

Valentina to Victory

Earlier in the evening, equivalent excitement was generated when former champ Valentina Shevchenko reclaimed her women’s flyweight title from Alexa Grasso, who snatched it from her last March.

Shevchenko, widely regarded as one of the best female fighters in MMA history, landed a career-best eight takedowns.

After a controversial split draw last September, the UFC decided to give Shevchenko one more shot, and she made it count.

The decision was unanimous.

Elsewhere on the card, Diego Lopes inched closer to a title shot by leaving Brian Ortega a bloody mess after three rounds. The two had been scheduled to battle at UFC 303 before Ortega withdrew due to illness.

The Sphere Gonna Sphere

The Sphere did its Sphere thing, enveloping the fighters in dazzling high-tech megapixels during the 10-bout event, which was branded as Riyadh Season Noche UFC for Mexican Independence Day.

But, other than enhancing the fighters’ Octagon entrances, the video, which UFC CEO Dana White was forced to spend $20 million producing (just for this one event!), merely distracted from the spectacle emanating from the mat.

Indeed, White himself has stated that the UFC will never return to the famous Vegas orb.

No $20 million videos will be required for that event.

The post UFC Gets New Champ at First Vegas Sphere Sports Event appeared first on Casino.org.

Tonko’s Supporting Affordability & Fairness With Every Bet Act (SAFE Bet Act) would require state gaming regulators to amend their sports betting rules to include a series of conditions. If passed and signed into law, the federal statute would require sportsbooks to limit bettors to no more than five deposits per 24 hours and conduct “affordability checks” on customers seeking to make large wagers.

Such checks would require bettors to prove that they have the financial resources to risk that amount of money. Sportsbooks would also be prohibited from allowing bettors to make deposits on credit cards.

The legislation additionally includes language prohibiting sportsbooks from utilizing artificial intelligence to craft promotions and bonuses for players based on their betting history. AI would also be banned from being used to produce microbetting odds and in-game lines.

Sin Industry Needs Sin Safeguards

Tonko, along with U.S. Sen. Richard Blumenthal (D-Connecticut) who will champion the SAFE Act in Congress’ upper chamber, both represent states where retail and online sports betting is legal. The two believe sports betting presents dangerous societal consequences and therefore should be more regulated than it currently is.

Tonko likened the affordability checks to a drunk person trying to purchase or consume more alcohol.

“For over six years, the U.S. sports betting industry has been working itself deeper and more directly into the lives of the American people. Now, every single solitary moment of every sporting event has become a betting opportunity,” Tonko said outside the Capitol.

Whether you’re scrolling on social media, driving down the highway past billboards, or listening to your favorite podcast or radio station, sports betting ads are there to prompt you with an endless cascade of flashy promotions,” Tonko continued. “This relationship between the gambling industry and sports has reached intolerably dangerous levels. It’s well past time for Congress to step up and make a difference.”

Blumenthal said he signed on to support the SAFE Bet Act on mental health and addiction concerns.

We’re not banning gambling. We’re banning practices that exploit and abuse people,” Blumenthal said. “We’re stopping the promotions, enticements, bonuses, and credits that target losers.”

“Let’s be very clear: the gambling industry methodically and relentlessly targets losers,” Blumenthal declared. “That’s where the money is.”

SAFE Bet Called Out

Tonko and Blumenthal said state governments have largely failed to implement adequate safeguards into their sports betting regulations. The American Gaming Association (AGA) was quick to disagree.

Today’s regulated sports wagering operators are contributing billions in state taxes across the U.S., protecting consumers from dangerous neighborhood bookies and illegal offshore websites, and working diligently with over 5,000 state and tribal regulators and other stakeholders to ensure a commitment to responsibility and positive play,” Chris Cylke, the AGA’s senior vice president of government relations, said in prepared remarks.

“Six years into legal sports betting, introducing heavy-handed federal prohibitions is a slap in the face to state legislatures and gaming regulators who have dedicated countless time and resources to developing thoughtful frameworks unique to their jurisdictions, and have continued to iterate as their marketplaces evolve,” Cylke added.

The post Federal Bill Seeks to Implement Sports Betting Guardrails appeared first on Casino.org.

Digi-Dana won’t be on permanent display inside the Las Vegas Sphere, however. And that’s because the hologram was commissioned by UFC, not the Sphere itself. So it will be powered down and removed immediately following UFC 306’s 10 “Riyadh Season Noche” bouts.

Joining White’s hologram in the Sphere’s Aura Gallery — that creepy hall where robots with lifelike expressions answer questions but ignore anyone trying to get fresh with them — will be holograms of your “favorite fighters” for “an unprecedented selfie experience.”

This is according to a press release from Proto Hologram that does not disclose which fighters will be hologrammed but says they will all be rendered in “life-size, volumetric 4K” without explaining what that is.

“We’re absolutely fired up to see Proto holograms at? Sphere for the first time ever at Noche UFC!” enthused David Nussbaum, CEO of LA-based Proto Inc., with standard press release enthusiasm.

Ridiculously, the company expected us to transform its rice paper-thin press release into a story without even furnishing a photo of what its Dana White hologram looks like.

“I understand completely but they are holding back any visuals on it,” the PR rep emailed us.

So we summoned an image from the sinister wizards of dark-web machine learning. But alas, our free program, Microsoft Designer, is a piece of garbage forbidden from generating the faces of celebrities.

But Dana White’s back looks incredibly realistic, don’t you think? There’s no way the real fake Dana White’s back will look any better than ours, which you got to see for free instead of $5,000.

And you totally didn’t even notice that errant white beard, did you?

As we reported yesterday, production costs for UFC 306 were initially supposed to be $8 million, an astronomical figure that instigated White to charge record-setting face values of up to $23K per ticket. But production costs have now reportedly ballooned to $20 million, while reseller ticket prices have plummeted to a sixth of their face value and are still plummeting.

Of course, since most modern holograms talk, ours would say, as the real Dana White reportedly did to MMA journalist John Morgan recently: “We’re not ever doing an event at the Sphere again.”

The post Sphere to Unveil Hologram of Dana White, Who Vows Never to Stage UFC There Again appeared first on Casino.org.

At the Goldman Sachs Communacopia and Technology Conference, Fox CEO Lachlan Murdoch said the media company is proceeding with plans to take an 18.6% interest in FanDuel, the rights to which were acquired in 2020 when Flutter doled out $12.2 billion for The Stars Group (TSG). Fox sold Sky Bet to TSG in 2018 for $4.7 billion, taking an equity stake in the buyer.

Murdoch told attendees at the conference that Fox values FanDuel at $35 billion, meaning 18.6% is worth $6.5 billion. Assuming he’s correct and FanDuel is worth $35 billion, that implies the gaming company is worth $17.22 billion more than DraftKings (NASDAQ: DKNG), its most direct competitor. At the close of US markets on Wednesday, DraftKings sported a market capitalization of $17.78 billion.

Fox Won’t Leave $2 Billion on the Table, Says Murdoch

That $6.5 billion figure is well in excess of the $4.3 billion Fox previously estimated it would need to pay to exercise its rights to acquire 18.6% of FanDuel. To buy that portion of FanDuel, Fox must be a licensed sportsbook operator in the states in which FanDuel does business. Murdoch mentioned at the Goldman Sachs conference that the company is working to address that issue.

We’re not going to leave $2 billion on the table,” he said.

It’s clear FanDuel has appreciated in value. Following a legal spat in 2022 between Flutter and Fox, the latter agreed to buy that 18.6% of FanDuel for $3.72 billion with a 5% annual escalator, meaning that for each year the option wasn’t exercised, the price would go up 5%.

“FOX has a 10-year call option that expires in December 2030 to acquire 18.6% of FanDuel for $3.72 billion, with a 5% annual escalator,” according to a November 2022 statement issued by the media firm. “FOX has no obligation to commit capital towards this opportunity unless and until it exercises the option.”

Murdoch said Fox has already initiated the process of procuring state gaming permits.

“We’ve begun the process with state regulators,” Murdoch said. “To fully monetize the option, we need to be licensed as a gaming operator, even with only with only 18.6% and so we’ve started that process with state regulators to begin the gaming licensing approvals.”

Where’s Fox Going to Come up with $4.3 Billion?

Murdoch didn’t get into specifics of how Fox would come up with the $4.3 billion needed to activate its FanDuel stake. Coincidentally, the media entity had $4.31 billion in cash and cash equivalents at the end of fiscal 2024.

He didn’t mention the possibility of selling debt to fund acquisitions or the purchase of the FanDuel interest.

The post Fox Proceeding with Plans to Take FanDuel Stake at $2.2B Discount appeared first on Casino.org.

Tickets for UFC 306 sported the highest face value of any event ever staged in Las Vegas. They started at $2,500 for seats in the rafters and topped off at $23,437.50 for floor seats to the right of the Octagon.

As of Wednesday evening, only a few hundred of those face-value seats remained on Ticketmaster out of an original allotment of 18,500.

On Ticketmaster, verified resellers (scalpers, basically) are losing their shirts on full public display. Right behind two of the original $23K seats (FLR3, Row 3, Seats 3-4) are five reseller seats on offer for $5,500 each (FLR3, Row 5, Seats 5-12).

If these seats are still available hours before the event, their prices must be lowered much further if they are to sell at all. That includes the hundreds still listed at face value on Ticketmaster unless UFC gives them away to VIPs, which is likely.

Why So Much?

Branded as Riyadh Season Noche UFC, for Mexican Independence Day two days later, the 10-bout spectacle promises an excellent lineup headlined by bantamweight champion Sean O’Malley defending his title against No. 1 contender Merab Dvalishvili.

But not $2,500-$23K-a-ticket excellent.

According to Billboard magazine, Dana White felt obligated to charge that much to pay for the show’s $8 million production costs — specifically, producing video content for the Sphere’s massive hi-def screen.

Think about U2,” White told SNY Sports on September 10, referring to the Irish rock band’s Sphere residency last year. “Whatever that cost them, they had 40 nights to amortize those costs. We just have one.”

Now, however, Billboard claims that White’s production costs have ballooned to $20 million, even after UFC partnered with outside producers, including Valerie Bush and Antigravity Academy, who will screen their own 90-second videos between bouts.

Of course, UFC will recoup some of its financial losses via pay-per-view sales, but, as White told MMA reporter John Morgan recently, “We’re not ever doing an event at the Sphere again.”

White Lies

Last October, White told ESPN’s Pat McAfee that “I have become obsessed with the Sphere,” adding that he had his entire production crew check out U2’s residency to conceive of ideas for visuals to envelop the Octagon.

“I’m telling you right now, this place is incredible,” White said.

If the new Billboard story is to be believed, however, White wasn’t being entirely truthful.

That’s the arena that hosted last year’s “Noche UFC,” whose tickets were priced starting at $120 each.

The post Why UFC Vows Never to Return to Vegas Sphere appeared first on Casino.org.

Soon after Cole County Circuit Court Judge Daniel Green rejected the lawsuit challenging the referendum led by a political action committee called Winning for Missouri Education, a group emerged that says it will work to convince Missourians to vote against Amendment 2. The committee — Missourians Against the Deceptive Online Gambling Amendment — says from now until November 5, the group will campaign against the sports betting question.

This deceptive measure was written by and for the financial benefit of its out-of-state corporate sponsors and funders,” said Missourians Against the Deceptive Online Gambling Amendment spokesperson Brooke Foster. “We are building a broad coalition and are prepared to wage a vigorous campaign to educate voters across the state and ensure the measure is defeated. It’s a bad deal for Missouri.”

Amendment 2 would allow casinos to operate an in-person sportsbook and an online book. The referendum would also provide professional sports stadiums with retail and online sports betting privileges, and allow two online sportsbooks to be approved without being tethered to a casino or sports venue.?

Sports Betting Ad Debuts

While Missourians Against the Deceptive Online Gambling Amendment is just getting up and running, the pro-sports betting lobby has already raised more than $6.5 million and produced its first advertisement.

Winning for Missouri Education has the financial support of Missouri’s professional sports franchises, including the NFL’s Kansas City Chiefs, MLB’s Kansas City Royals, MLB’s St. Louis Cardinals, and the NHL’s St. Louis Blues. The political campaign is also heavily funded by sports betting market leaders DraftKings and FanDuel.

This week, the campaign debuted its first 30-second commercial in support of legal sports gambling. The strategy is apparently to hype the educational benefits that regulated sportsbooks would bring the Show-Me State.

The referendum would constitutionally mandate that the first $5 million or 10%, whichever is greater, in tax proceeds go toward combatting problem gambling. The remaining benefit would go to support K-12 public education. ??

What Sports Betting Would Look Like in Missouri?

If a simple majority of voters back Amendment 2, each sportsbook’s gross revenue would be subject to a 10% tax. Retail licenses would cost $250K every five years. Mobile permits would cost $500K every five years.

State fiscal projections estimate that Missouri could receive nearly $29 million a year from regulated sports gambling, but the final benefit would depend largely on how many incentives the books issue. Sportsbooks have traditionally marketed heavily in newly launched sports betting states with an array of promotions geared toward signing up players.

The post Missouri Sports Betting Campaigns Begin Rallying Troops appeared first on Casino.org.

At the Bank of America’s Gaming and Lodging Conference last week, Robins acknowledged DraftKings customers scoffed when it proposed a small levy on winning sports bets placed by clients in Illinois, New York, Pennsylvania, and Vermont to deal with the elevated taxes in those states.

Clearly, this was something that our customers — they didn’t like this type of solution,” Robins said at the conference. “Our thinking behind it was, well, we can invest more in promo for you and other things because we’re going to be collecting more upfront. But we got feedback that people didn’t like this particular solution, so we changed it.”

After announcing the surcharge plan on August 1, DraftKings reversed course less than two weeks later as none of its rivals followed suit. Though the company didn’t say the two events were linked, DraftKings scrapped the surcharge plan on August 13, the day on which FanDuel parent Flutter Entertainment (NYSE: FLUT) reported second-quarter results and told investors it had no plans to follow its competitor on the tax on winning bets gambit.

Robins Looking for Ideas to Contend with High Taxes

While Robins didn’t mention specific ideas, he said the gaming company he co-founded is examining avenues through which it can better contend with some states’ high taxes on online sports betting.

“The bottom line is, at some point, I guess it depends on what happens in other states, but I don’t think that in perpetuity, it will make sense for anybody to completely just eat any tax increase that happens anywhere,” said Robins at the conference.

Some analysts have speculated that either or both of Illinois and New York could pass iGaming legislation next year, and that would be an avenue through which operators such as DraftKings could offset some of their sports betting tax exposure.

Other Legislative Issues Confounding Gaming Companies

Shares of DraftKings are up 5.47% year to date – a tepid showing relative to some peers and broader domestic equity benchmarks. One reason the stock has been lethargic in 2024 is because there’s been little of note in terms of positive legislative action.

“DKNG’s total addressable market should increase over the next 3-5 years as states legalize sports betting,” noted Zacks Equity Research. “As budget deficits continue to balloon, more states will likely turn to sports betting as a much-needed tax revenue source.”

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On a recent edition of “The Greg Hill Show,” Boston sports talk radio host Courtney Cox said there are three finalists who could acquire the Celtics: Amazon founder Jeff Bezos, Boston Red Sox President Sam Kennedy, and Encore Boston Harbor. Located in Everett, Mass., Encore Boston Harbor is Wynn’s lone US casino hotel outside of Las Vegas. The property is the holder of the first sportsbook license in state history.

Kennedy’s potential involvement implies it would be Fenway Sports Group, which owns the Red Sox and the NHL’s Pittsburgh Penguins, among other sports interests, that makes a bid.

Bezos being interested in the Celtics isn’t surprising as he’s long coveted a professional sports franchise. Last year, he was among the bidders for the NFL’s Washington Commanders, but the team was ultimately sold to another group.

Wynn Resorts Buying Celtics Seems Iffy

The unidentified source cited by Cox isn’t from Boston and Wynn hasn’t commented on any interest in buying the Celtics or any other professional team.

Speculation that the gaming company could be mulling a bid for the team may be attributable to the operator’s hopes of expanding Encore Boston Harbor and the surrounding area. There’s been chatter that such an effort, if approved, could include a new arena for the Celtics and Boston Bruins. There’s also been scuttlebutt that the basketball team could relocate its offices to Everett.

As for the NBA allowing an owner with gaming interests, that’s not an issue. Golden Nugget boss Tilman Fertitta owns the Houston Rockets and Dr. Miriam Adelson and Patrick Adelson recently acquired majority control of the Dallas Mavericks. Adelson is the largest Las Vegas Sands (NYSE: LVS) shareholder, and Dumont is president and chief operating officer of that gaming company.

Steve Wynn an Unlikely Bidder

Born in Connecticut, Steve Wynn is a native New Englander and could well be a Celtics fan, but for now, his possible involvement in acquiring the Celtics appears to be mere speculation.

Assuming the Celtics’ sale price were to approach $5 billion, that might be too rich for Wynn’s blood, but it would be easily affordable for Bezos. One of the richest people in the world, Bezos is worth an estimated $190.4 billion.

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GambetDC was previously the lone mobile sports wagering application in the US capital city. However, due to a spate of controversies and disappointing performance, Intralot outsourced the operation of its app to Flutter Entertainment’s FanDuel, which took control in April. FanDuel paid a $5 million conversion fee to the Office of Lottery and Gaming (OLG) to take over for Intralot.

That set the stage for FanDuel to explore terminating its contract with the OLG, and for the likes of Caesars Sportsbook and BetMGM to offer mobile sports wagering in the city. As a result of that expansion, Caesars was able to land the kiosk business.

Caesars Familiar to DC Bettors

While Caesars doesn’t operate a land-based casino in Washington, DC, bettors are familiar with the gaming company and its brand. Before offering mobile sports wagering there in July, the company opened a retail sportsbook at Capital One Arena in 2021 – the first sportsbook in a US professional sports team’s home court or stadium.

Our self-service betting kiosks are an excellent addition to our sports wagering options in DC,” said Caesars Digital President Eric Hession in a statement. “Whether sports fans prefer a traditional ticket-in-hand wagering experience or want to simply deposit cash for their mobile app account, our kiosks enhance the premier sports betting experience we offer through the combination of options and convenience that supports dozens of small businesses locally.”

In addition to being able to use the kiosks to place wagers, bettors can also use the machine to add funds to their Caesars Sportsbook mobile accounts. Bets placed via kiosks are also eligible for rewards credits in the Caesars Rewards program.

The kiosks are located throughout the city and are found in bars, taverns, restaurants, and at official lottery retailers.

Caesars Branding Could Help Allay Kiosk Concerns

When the city opted to expand its mobile sports betting market, retailers that are home to the kiosks expressed concern that the move would diminish the appeal of the devices, thus pinching an important revenue stream.

In its press release, Caesars didn’t touch on that issue, but it’s possible the gaming company’s well-known brand and iconic logo will entice bettors to continue using the kiosks.

Financial terms of the gaming company’s deal with the OLG weren’t disclosed.

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During a tearful press conference in Seoul on Wednesday, former Chinese Super League player Son Jun-ho described how he was detained by Chinese authorities in May 2023 as he tried to leave the country. The defensive midfielder, who played three of South Korea’s four matches at the 2022 World Cup in Qatar, wasn’t able to return to his home country until March of this year.

Son was held on “suspicion of accepting bribes by non-state employees” and claimed he was coerced into making a confession.

Threats to Family

“The Chinese police presented ridiculous charges,” he said, as reported and translated by the Associated French Press. “They threatened that if I didn’t admit to the charges, my wife would be arrested through the foreign ministry and brought to the same detention center to be investigated with me.”

Son claims he wasn’t given access to Korean translators or a lawyer and was told that if he admitted guilt, he would be released quickly and reunited with his family.

Overwhelmed with fear and concern for my family, I had no choice but to admit to charges I didn’t even understand, just to return to my family quickly,” Son said, wiping away tears.

He called for Chinese authorities to release audio tapes of the interviews, which he says would prove the confession was coerced.

Scapegoating Fears

Chinese authorities have blamed widespread corruption in soccer for the country’s failure to make its mark on the world stage.

In 2015, President Xi Jinping stated his ambition to revive the fortunes of the men’s national team, which hadn’t qualified for a World Cup since 2002. But despite the billions that have poured into the game since Xi’s proclamation, if anything, the team has deteriorated.

Li Tie was one of just a few Chinese players to make it in the English Premier League, and later, managed the Chinese national team. He was sacked in 2021 after failing to qualify for another World Cup. A year later he was arrested for bribery.

This week’s CFA sanctions come just one week after one of China’s most humiliating defeats in the history of its soccer team, a 7-0 drubbing by Japan, one of its biggest sporting and geopolitical rivals.

The post South Korea’s Son Jun-ho Claims Chinese Police Coerced Match-Fixing Confession appeared first on Casino.org.

Among the group are former Chinese internationals Jin Jingdao, Guo Tianyu, and Gu Chao. Current South Korea international Son Jun-ho, who played in China for Shandong Taishan in the Chinese Super League, is also on the list.

The sanctions were announced Tuesday at a press briefing in Dalian by the top official from the Ministry of Public Security, Zhang Xiaopeng, and reported by Xinhua, the state-owned news agency.

Draining the Swamp

Zhang said the bans were the culmination of a two-year investigation that uncovered widespread online gambling, match-fixing, and bribery in Chinese soccer. Some 120 matches were implicated in the investigation, which involved 128 criminal suspects and 41 teams.

In addition to the 43 life bans, 17 others, including Cameroonian forward Donovan Ewolo, now playing in Saudi Arabia, were banned for five years.

Son ‘Bewildered’

Son, 32, was arrested as he attempted to leave China in May 2023. He was detained in the country until March of this year on unspecified bribery charges.

“His actions seriously violated sports ethics and sportsmanship, causing significant negative social impact,” the CFA said.

Son’s agent, Park Dae-yeon, told South Korean news agency Yonhap Tuesday that he and his client were “bewildered” by the “ridiculous” charges.

Corruption has long been endemic in Chinese soccer. Earlier this year, former CFA president Chen Xuyuan was sentenced to life in prison for accepting millions in bribes.

China’s Failed Soccer Project

Chinese President Xi Jinping is said to be a big fan of the game and pledged in 2015 to turn China into a soccer superpower that would one day lift the World Cup. But despite pouring billions into the sport, there is nothing to suggest China is the sleeping giant of world soccer.

If anything, the country’s prospects for achieving soccer glory are getting worse.

A recent documentary that aired on state television claimed corruption is holding Chinese soccer back and may have spurred authorities to purge the game of undesirable elements.

Just hours after Tuesday’s sanctions were announced, China was beaten at home by Saudi Arabia. The national team currently sits at the bottom of its World Cup qualifying group.

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Jordan Mason is the Niners’ second-string running back behind Christian McCaffrey, one of the most electrifying players in the NFL who was named the Offensive Player of the Year in 2023.

After bet365 realized that McCaffrey wouldn’t play because of a nagging calf/Achilles injury, the sportsbook told bettors with action on Mason that their odds had been adjusted to -5000. The change meant a $100 winning bet went from paying out $90.91 to just $2.

Bet365 Makes Good, Kind Of?

Matt Williams, a sports betting analyst at VSiN Live, was the first to expose the bet365 odds adjustment for Mason’s performance.

Bet365 told Mason and others who took the Mason over/under at -110 that the adjustment was warranted because the original odds were offered in error.

We have identified that this selection was placed at incorrect odds and as such, in accordance with our rules, will be settled at the revised odds of -5000,” the bet365 communication read.

After Williams shared the sportsbook message to X and hundreds of angry bettors scolded the operation, bet365 issued a “settlement update.” Williams said his $110 bet was awarded $91.93, which was below the $100 he was rightfully owed on -110 odds. The comments on the bet365 settlement update were overwhelmingly negative.

“The only reason you’re agreeing to this is because you got called out publicly,” read one response on X.

There was no confusion, you all thought you could screw people over,” added another.

Williams likened the book’s explanation to a robber robbing a bank who later found out they were caught on camera.

“So they brought the money to the police station and said, ‘Sorry for any confusion.'”

Regulators Mum?

In July, the New Jersey Division of Gaming Enforcement (DGE) ordered bet365 to pay $519,323.32 to bettors behind 199 winning wagers in which the sportsbook had post-adjusted its odds.

The DGE found additional regulatory deficiencies at bet365 last week when it revealed the book had taken bets on events that had already been completed. Bet365 agreed to settle the regulatory action with a $33K penalty.

Casino.org reached out to the DGE for comment regarding Monday night’s matter but didn’t hear back before publication. We will update the story if we receive a response.

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These messages concerned 17 games and purported to offer information on how they were to be manipulated. There was evidence that whoever was selling the information had succeeded in finding buyers, with transactions made in Bitcoin, according to The Morgenpost.

Police in the western states of Hesse and Saarland?have confirmed that they are investigating suspicious matches played within their respective jurisdictions. Germany’s Federal Criminal Police Office (BKA) said it was involved as a central coordinator.

Bizarre Goals

The Morgenpost didn’t publish the messages or identify the games out of respect for the ongoing investigations. However, it reported that some included bizarre goals and controversial refereeing decisions. One game contained only own goals.

A spokesperson for the German Football Association (DFB) said the organization hasn’t seen concrete evidence of manipulated games, but is coordinating with authorities. The DFB is also monitoring the situation with its integrity partner, Genius Sports, the spokesperson said.

Low Pay

Match-fixing is far more common within the lower leagues of sports because they are less well scrutinized, and the players are poorer, and so theoretically, more corruptible.

3. Liga, the third tier, is the lowest professional league in Germany, although its players are still well-remunerated. Less so are players in 4. Liga, which is semi-professional. The fifth regional tiers (Oberliga) are amateur leagues in which players aren’t paid at all.

Betting on amateur games is illegal in Germany, although offshore websites have been known to offer markets on these games.

Last week, Oberliga Hamburg reported two incidents where data scouts were discovered at games illegally relaying live information to offshore betting platforms.

The Hoyzer Scandal

German soccer’s last major match-fixing scandal occurred in 2005 when referee Robert Hoyzer confessed to fixing and betting on games. Hoyzer, who mainly oversaw matches in Germany’s second tier, admitted he had accepted bribes from a gambling syndicate with links to organized crime.

The rogue ref was banned for life from having anything to do with the sport and was later sentenced to two years and five months in prison.

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When Circa announced the contests for the 2024 season, the sportsbook operator promised a record $16 million in guaranteed payouts, but that figure was topped by more than 25% as Circa Survivor alone netted 14,266 entries at $1,000 apiece, meaning the prize pool for that contest is $14.26 million. Last year, the two contests had $14 million in entries combined.

The prize pool for Circa Survivor will go to the last person (or people) standing. It will consist of up to 20 legs throughout the year, one for every week of the football season plus two special weeks,” according to a statement issued by the gaming company. “Each week, participants will choose a team to win straight up, but the player cannot pick the same team twice for the duration of the season. Thanksgiving/Black Friday and Christmas Day will each be considered their own contest weeks.”

In a short amount of time, Survivor has become one of the most popular regulated NFL pool competitions in the country. The massive prize pool coupled with not having to pick against the spread resonates with professional and recreational bettors alike.

Circa Survivor Isn’t Easy

Circa Survivor requires participants to pick a single NFL winner each, but not against the spread. To some novice participants, that task sounds easy, but it’s not.

Additionally, the separation of the Thanksgiving and Christmas Day games is a curveball for Circa Survivor participants. This year, there are three games on Thanksgiving Day, meaning participants may want to be careful about using too many of those six teams prior to that holiday.

Christmas could be even trickier because there are just two games. One involves the Chiefs and the other features the Baltimore Ravens — teams many Survivor participants would be inclined to choose well before Dec. 25.

Circa Million in Strong Form, Too

The sixth edition of the Circa Million contest garnered 5,871 entries resulting in an overlay of $183,000. That contest tests participants’ ability to pick NFL games against the spread.

“Each player will make five picks against the spread each week via the Circa Sports Nevada mobile app, a Circa Sports kiosk or over the counter at any of the six Circa Sports locations in Nevada. One point will be awarded for each correct selection and one-half point for each push,” according to the statement.

First place takes home $1 million, but Circa Million offers 125 other ways to win over the course of the season, including cash for those that finish anywhere from second to 100 and quarterly prizes.

The post Circa NFL Contests Shatter Records with $20M Total Prize Pool appeared first on Casino.org.

England-based bet365 operates iGaming and online sports betting across New Jersey through its partnership with the Hard Rock Hotel & Casino in Atlantic City. In recently disclosed regulatory action, the New Jersey Division of Gaming Enforcement (DGE) punished bet365 with a $33,000 settlement.

The state’s gaming administrator said the online sportsbook took bets on a mixed martial arts (MMA) match that had been contested a week earlier. Bet365 oddsmakers accidentally listed the replay of the match on their book. The sportsbook was also accused of accepting wagers on other prohibited sporting events.

Settlement Ratified

DGE Interim Director Mary Jo Flaherty, who has served in the role since the agency’s longtime Director David Rebuck retired in March after leading the gaming regulatory for nearly 13 years, said the MMA match and cited prohibited wagering events occurred between Feb. 3, 2022, through Jan. 23, 2023. Flaherty said that after seeing bet365 take “remedial action,” the DGE agreed to settle the shortcomings.

Having considered the Stipulation of Settlement which the parties executed and finding sufficient legal and factual support for the recommended penalty therein, I hearby order that the settlement be adopted and that a civil penalty in the amount of $33,000.00 be imposed upon bet365,” Flaherty wrote in her order.

The bet365 penalty will be deposited to the DGE’s Revenue Unit. The fine comes just weeks after bet365 was ordered to pay over a half-million dollars back to bettors after a DGE probe concluded that the sportsbook amended odds in the book’s favor after accepting nearly 200 wagers.

Bet365 argued that the initial odds were offered in error. The DGE said a sportsbook can only amend a facilitated wager with its approval.

“The failure of bet365’s internal software coupled with its manual trading errors caused its system to be unable to ensure the accuracy of its data feeds. These failures are both problematic as to bet365’s business ability to conduct online gaming and the integrity and reliability of its operational systems, and therefore unacceptable as they resulted in misleading wagering information that was relied upon by its patrons and ultimately led to incorrect payouts for numerous patrons,” the DGE wrote.

Ensuring Trust Paramount

As sports betting has spread to nearly 40 jurisdictions in the U.S., the industry has faced criticism this year for supposedly limiting bettors who win too often and preying on those who don’t.

The Massachusetts Gaming Commission, perhaps the most pro-active regulatory in the U.S., continues to investigate how its online sportsbooks decide when to limit customers. Sportsbooks have been hesitant to reveal their trade secrets, but a planned Q&A with licensees is slated for next month.

DraftKings later realized a programming error that made the interactive slot unwinnable.

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The 2024 Missouri sports betting ballot referendum scheduled for the Nov. 5 election remains in jeopardy.

Cole County Circuit Court Judge Daniel Green could hand down his ruling at any moment after hearing testimony yesterday about whether a ballot referendum campaign submitted enough qualified signatures to place the sports betting question before voters.

Following Amendment 2 being moved to the 2024 ballot, a lawsuit was filed on allegations that Ashcroft’s office wrongly validated thousands of signatures. The plaintiffs additionally claimed that Ashcroft used an outdated congressional district map in determining the number of signatures needed in each congressional district.

Two Missouri residents brought the sports betting lawsuit.

Waiting Game?

Winning for Missouri Education is funded by DraftKings and FanDuel. The state’s four major professional sports franchises — the NFL Kansas City Chiefs, MLB Kansas City Royals, NHL St. Louis Blues, and MLB St. Louis Cardinals — have also helped finance the committee.

Ashcroft, who was defeated in the Republican Party’s 2024 gubernatorial primary, is accused of wrongly certifying at least 750 signatures in Missouri’s First Congressional District. Plaintiffs’ counsel brought in a handwriting expert who testified on Thursday that he had concerns about many signatures that Ashcroft’s office said were legitimate when compared to voting record signatures.

Tuesday is the deadline for Missouri ballots to be amended. Green rejected a motion to dismiss the lawsuit from attorneys representing Winning for Missouri Education but pledged to issue a speedy ruling in time for the election ballots to be amended if needed.

As of now, Missouri voters will be asked if they support allowing the state’s 13 riverboat casinos to operate retail sportsbooks and a single online skin each.

Recent polling on Amendment 2 shows the outcome could be razor-thin.

Referendum Redo?

Missourians are also set to decide if they want to expand riverboat gaming to the Osage River. Currently, gaming boats are restricted to the Missouri and Mississippi rivers.

Osage River is seeking permission to build a riverboat resort and casino near the Bagnell Dam in Lake Ozark. ?

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The off-Strip casino hotel’s lawsuit, filed April 30 in Clark County District Court, seeks restitution for the millions in lost revenue it claims to have incurred when construction for last year’s inaugural Las Vegas Grand Prix race restricted customer access to its property.

Attorneys for Ellis Island alleged that F1, with Clark County’s blessing, intentionally obstructed access to its property, which is located directly north of F1’s paddock complex on Koval Lane.

An attorney for Clark County countered that Nevada law prohibits only “total obstruction,” which the complaint did not demonstrate. So Judge Kishner ordered Ellis Island to provide more detail in its complaint for it to proceed.

The attorneys agreed to confer and submit deadline dates to the court to hear an amended complaint.

Smaller Claims

Also this week, attorneys for other businesses impacted by last year’s race preparation finally filed the lawsuit they had been threatening F1 and Clark County with for months.

The suit, filed on Tuesday in Clark County District Court, is by fewer litigants and for much less money than had been anticipated.

Of the seven independent businesses who in January asked the Las Vegas Convention and Visitors Authority to compensate them for $23 million in damages — a request that went ignored — only Battista’s Hole in the Wall Italian Restaurant and the slots-only Stage Door Casino joined the lawsuit, which seeks only “over $50,000.”

“Unfortunately, Las Vegas Grand Prix and Clark County gave Battista’s Hole in the Wall and Stage Door Casino no choice but to litigate,” read a statement from Lisa Mayo-DeRiso, spokesperson for the businesses claiming F1 construction losses. “For months, they sought a fair and just solution to this devastating issue, however, to no avail. Repeated assurances of a resolution never materialized.

“They have no choice but to?ask an impartial third party to?remedy?their financial losses?and to prevent their businesses from going under because of F1.”

This was also the week that F1 began transforming the Las Vegas Strip into a racetrack for the second time, promising less disruption via nighttime work and other concessions detailed by Vital Vegas.

The Las Vegas Grand Prix is scheduled to take place November 21-23.

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Sports betting is legal in 38 states and Washington, DC. The American Gaming Association (AGA) projects that US bettors will wager a record $35 billion on NFL games this year with regulated sportsbooks, though even more is likely to be bet through underground bookies and illegal offshore sportsbook websites.

The IRS encourages bettors to bet only with regulated operations in legal sports betting states. Those who don’t risk legal recourse, said the federal government agency responsible for collecting taxes.

Sports betting has grown exponentially in the past five years and is more common than ever. While online gambling is easily accessible, it’s not always legal,” said IRS Criminal Investigation Chief Guy Ficco.

“As this year’s football season kicks off, IRS Criminal Investigation special agents are continuing to monitor trends and using our expertise to root out criminal activity related to illegal gambling like money laundering and tax evasion,” Ficco added.

IRS Sports Betting Crackdown

In its notice urging taxpayers to play by the rules when it comes to sports betting, the IRS says it was behind exposing Ippei Mizuhara’s sports betting scandal earlier this year.

Mizuhara was the interpreter for Major League Baseball superstar Shohei Ohtani. The tax agency said it worked with Homeland Security investigators to uncover Mizuhara’s illegal sports betting with an illegal bookmaking operation that resulted in the interpreter stealing almost $17 million from Ohtani.

The IRS isn’t only focusing on multimillion-dollar infractions. Any taxpayer who violates reporting requirements can face legal recourse.

Sports enthusiasts who are unsure about their tax obligations or have questions about reporting gambling income are encouraged to consult tax professionals or visit the official IRS website for guidance. Ignorance of the tax law does not exempt individuals from their responsibilities,” the notice read.

The IRS Criminal Investigation Unit has 20 field offices across the country. The agency is responsible for conducting financial crime investigations, including tax fraud. It’s the only federal law enforcement agency with investigative jurisdiction over violations of the Internal Revenue Code.

Tax Requirements

The IRS requires that gamblers report their winnings above certain thresholds on form W-2G. Nerdwallet, an online personal finance website that provides tax tips, says bettors who win $600 or more in a tax year must report the money as taxable income on their federal return.

Filers who fail to accurately report their sportsbook winnings risk criminal charges ranging from money laundering to tax evasion.

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Ira Lubert won the rights to a Category 4 casino license on Sept. 2, 2020, when he was the high bidder during an auction round conducted by the Pennsylvania Gaming Control Board (PGCB). Lubert submitted a bid of $10,000,101 that narrowly edged Baltimore-based Cordish Companies.

This week, Lubert, a 1973 Penn State graduate whose real estate firm, Lubert-Adler, has a deep portfolio in office, industrial, residential, retail, and hospitality across the nation, announced a $10 million gift to the Beaver Stadium Revitalization. The donation will result in the Lubert Family Welcome Center, a new “landmark space” at one of the stadium’s entrances. The renovation project is to be completed in 2027.

Coming to Penn State set me on a path that has led to professional success and personal fulfillment, and I am honored that the Lubert Family Welcome Center will offer a fresh, exciting first impression for future Penn Staters as they discover all that the university offers,” Lubert said.

The Penn State Board of Trustees approved a $700 million renovation of Beaver Stadium in May. While most of the investment will be financed and no tuition money will be used, private donors continue to help reduce the amount of interest the school will pay by lessening the principal. With Lubert’s contribution, the renovation has now received $55 million in donations.

Nearby Casino Saga

The renovation of Beaver Stadium has faced significant scrutiny as the $700 million project comes as the school continues to try and reduce its costs by offering some employees buyout packages. Another high-profile controversy in Centre County is Lubert’s plan to open a casino.

Cordish raised allegations in litigation that Lubert violated bidding protocols by orchestrating an investment group that helped him fund the $10 million bid. Lubert’s investors, who were detailed later, were not eligible to bid since they didn’t hold “an ownership interest in a slot machine license” as Lubert did with his 3% stake in Rivers Casino Pittsburgh.

Cordish argued it should have been the only qualified bid that September, but the case, which made its way to the Pennsylvania Supreme Court, came down in Lubert’s favor. The state’s highest court in July upheld lower courts’ rulings in deciding that Lubert, while he might have organized an investment group to build the casino, had retained 100% control of SC Gaming OpCo, the entity he bid as, during the auction and subsequent remission of the $10 million fee.

PSU Steers Clear of Casino Controversy

After years of legal delays, Bally’s, which will operate the State College casino, told investors during its second-quarter earnings call that construction at the Nittany Mall is targeted for the first half of 2025.

Marcus Glover, the chief financial officer of Bally’s, said the company and Lubert’s team are “going through the process and obtaining the appropriate approvals.”

In July, Bally’s accepted a takeover from Soo Kim’s Standard General hedge fund. Bally’s has recently faced several credit downgrades, concerns about its financial outlook, and worries that the company could be overleveraged. ?

Kim has remained quiet about what Bally’s future might look like once he takes full control. Under Standard General, Bally’s is expected to direct much of its focus on its $2 billion Bally’s Chicago undertaking, and possibly, a new resort in Las Vegas. That could prompt the company to fold on smaller regional operations like the one coming to State College. ?

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Betsson had been offering online sports betting in Colorado under the Betsafe brand for two-and-a-half years through a partnership with Dostal Alley Casino. That was the only state in the US in which Betsson operated, and it will halt that business at the end of this month. Betsson launched in Colorado two years after it legalized sports wagering.

Before launching Betsafe in Colorado, Betsson executives noted that when working with prospective clients on the B2B front, they were frequently asked where else they operated in North America, so it made sense for the company to have some consumer-facing presence on this continent. The operator later brought Betsafe to Ontario, Canada.

Betsson Joins Long List of Colorado Departures

Colorado fast became an enticing market for sportsbook operators because it has a favorable tax rate on that form of wagering and because it opened to a slew of competitors. Today, it’s one of the fastest-growing sports betting states in the country.

However, the state has followed a similar trajectory to others in that while there are more than a dozen gaming companies offering sports wagering services there, the market is largely dominated by the biggest names, including DraftKings and FanDuel.

Westgate’s SuperBook recently said it will cease offering mobile sports betting outside of its home state of Nevada, meaning it’s also leaving Colorado.

Betsson Just Latest ‘Victim’

Since the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA), some trends have emerged that contribute to explanations regarding why so many operators have thrown in the towel on US sports wagering.

In addition to Betsson, recent departures among foreign operators from US sports betting, either by way of acquisition or closure of US operations, include Betfred, Betway, PointsBet, and Tipico.

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That’s a 30% jump from the trade group’s forecast of $26.7 billion at the start of the 2023 NFL season. Making that increase all the more notable is the point that just three states added mobile sports wagering since the conclusion of last season — Maine, North Carolina, and Vermont. Of that trio, only North Carolina is a large state.

Football is the most wagered-on sport in the US and that’s largely driven by the NFL. Should the AGA’s $35 billion projection prove accurate, it would be nearly 12x the amount that was wagered on the NCAA Men’s Tournament earlier this year, itself one of the most bet-on events in the country.

Beneficiaries of Football Betting Surge

It helps the football betting handle case that more states than ever before allow sports betting, but in terms of beneficiaries of the elevated football wagering scenario, the field is significantly smaller.

While the number of states allowing sports betting is at an all-time high entering the 2024 football campaign, the amount of sportsbook operators offering their services is not. Owing to recent attrition in the space, either by acquisition or departure, the number of regulated sportsbook operators available to bettors for the 2024 football season is below the levels seen last year.

That confirms that competing against the likes of DraftKings and FanDuel simply doesn’t make economic sense for some operators, particularly those with already low levels of market share.

Catalysts for Elevated NFL Wagering

The NFL has some advantages when it comes to wooing bettors, including standalone games on Sunday, Monday, and Thursday nights. Those contests, particularly the Sunday and Monday night affairs, are usually among the highest-rated television programs for their respective weeks and, in some cases, for the year in which those games are played.

Those games have a knack of luring big bets and when those “whale” wagers grab media attention, smaller bettors often tail, boosting handle on those games.

Sportsbook operators also have new avenues for tempting bettors. While pregame spreads, totals, and moneyline wagers remain the most popular avenues for wagering on the NFL, gaming companies are expanding their football betting menus to include same-game parlays, in-game wagering, and microbetting, all of which are being widely embraced by clients.

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Legal sports betting began at the state’s three brick-and-mortar casinos — Encore Boston Harbor, MGM Springfield, and Plainridge Park — in January 2023. Online sportsbooks commenced operations two months later in March.

According to the school’s Social and Economic Impacts of Gambling in Massachusetts’ summer update, there has been “no change in the proportion of monthly gamblers … who had engaged in any illegal sports betting between 2022 and 2023.” The UMass researchers did find a decrease in the proportion of monthly sports bettors who engaged only in illegal sports betting, but concluded that Massachusetts’ regulation of sports gambling “was not a substantial recapture of illegal sports betting revenues.”

Concerned Commissioners?

UMass researcher Rachel Volberg recently presented the July findings to the Massachusetts Gaming Commission (MGC). Though the July update focused on problem gambling rates, commissioners said their interest was piqued by the illegal betting data points.

A lot of the reason we wanted to make sure this is done and done correctly, sports wagering, is that we want to stamp out the illegal market,” said MGC Interim Chair Jordan Maynard. “The illegal market is not a victimless place.”

Maynard said the regulated space provides numerous consumer protections that aren’t available in the underground and offshore markets, including responsible gaming programs, player complaint resources, and guarantees that bets will be paid and account withdrawals will be executed.

If you have an issue with your bookie, there are only a few places you can go. If you have an issue with a legal sports wagering operator or gambling operator in the state, you can come to the Gaming Commission and we can help take care of these issues,” Maynard said.

Commissioner Eileen O’Brien said she can understand how an online sports bettor might be tricked into believing an unregulated, offshore sportsbook website is a legal operation. She said the state must do more “to continue to educate consumers” about what is and isn’t permitted sports gambling.

More Data Needed

Since legal online sports betting in Massachusetts — the preferred wagering method in states where both retail and internet sportsbooks are allowed — is only 17 months into existence, Volberg told the MGC that more time is needed to hopefully transition more bettors from the illegal market.

Many jurisdictions have found that it can take a substantial period of time for sports bettors to migrate fully from nonregulated to regulated providers,” she explained.

Sports betting has provided a substantial revenue windfall for Massachusetts. The MGC says since the first legal bet was wagered in January 2023, the state has collected $166.6 million in sports gambling taxes and fees.

The post Study: Illegal Sports Betting Rate in Massachusetts Remains Unchanged appeared first on Casino.org.

Speculation recently surfaced that Genius, a data provider to sportsbooks, was mulling a takeover of Sweden-based Kambi, but Anders Str?m, chairman of the Kambi board of directors, said no such conversations have taken place.

While Kambi tends not to comment on rumour and speculation, I can confirm that Kambi is not engaged in any such discussions,” he said in a statement.

With its shares up 15.35% year to date, Genius has the currency with which to hunt for deals. It has a market capitalization of $1.5 billion, which is well above Kambi’s market value of $370.1 million.

Kambi Takeover Rumors Getting Old

Rumors about Kambi being a target aren’t new. In fact, they date back to at least the second quarter of 2023, and the purveyors of the chatter have some factors to hang their hats on.

Furthering the speculation is the fact that Kambi recently pulled its longer-ranging financial targets, in part citing regulatory issues in Brazil. That prompted the resignation of then-CEO Kristian Nylén. High-level executive departures often stoke takeover talk.

Additionally, more gaming companies are looking to bring sports wagering technology in-house, which could further the allure of Kambi as a takeover candidate. The company’s North American clients include Bally’s, Churchill Downs, Penn Entertainment, and Rush Street Interactive, among others. Kambi also works with gaming companies throughout Australia, Europe, and Latin America. The corporation recently extended its partnership with Rush Street.

Genius Sports Denies Rumor, Too

Genius Sports also denied the scuttlebutt.

As policy, we do not comment on unfounded and ill-informed rumors. To prevent any further speculation, we can confirm that we are not involved in any discussions of this nature with Kambi,” said CEO Mark Locke in a statement.

While Genius might not be interested in Kambi, there could be an ample number of other potential suitors should the firm put itself up for sale. After the company adopted the poison pill provision in 2022, Alinea Capital Management, a Norwegian hedge fund, said there could be as many as six US-based companies interested in buying Kambi.

The post Kambi Refutes Rumor of Potential Takeover by Genius Sports appeared first on Casino.org.

Sports betting in the US expanded rapidly after May 2018 when the Supreme Court repealed a federal law that limited single-game wagering to Nevada. Today, 38 states and Washington, DC, have legal sports betting.

Bristol researchers found that much of the content shared by leading sportsbooks like DraftKings and FanDuel failed to include responsible gaming messaging and help resources.?

AGA Defense?

The University of Bristol analyzed 1,353 social media posts by DraftKings, FanDuel, BetMGM, and ESPN Bet from July 29 through August 4. The content on X, Instagram, Facebook, and TikTok was seen over 29 million times.

The AGA responded to the study by pointing out that the social media content that didn’t include a responsible gaming message or helpline were nonsponsored posts, meaning such information wasn’t required under the code of conduct’s terms.

Like companies across other industries, sports betting operators provide relevant, engaging content to customers designed to maintain brand awareness without promoting a specific offering that is covered by the code, like sports betting,” Joe Maloney, the AGA’s senior vice president, told The Guardian. “To describe the sharing of sports facts, schedules, or discussion topics via tweets and posts on social media platforms as advertising and thus applicable to our code is an irresponsible misinterpretation.”

The Bristol review cited many posts questioning where the line between advertisement and general content is drawn.

One example came from FanDuel about a tennis match and how a bettor won $19K on the contest’s upset result. The content didn’t directly link to the FanDuel Sportsbook, but also didn’t provide problem gambling support messaging.

University Scolds Industry

While all 310 paid posts complied with the AGA code, something Maloney said shows its members’ “commitment to upholding strong industry standards,” Bristol’s academics said the reviewed sports betting content was overwhelmingly pro-betting and seemed to encourage the public to participate.

It feels like they are doing anything just to get people signing on,” said Raffaello Rossi, marketing lecturer at the University of Bristol. “This relentless exposure can make gambling seem like a normal activity, increasing participation and risk among young and vulnerable groups.”

Rossi said the four sportsbooks examined averaged 237 social media posts per day. He opined that social media content from sportsbooks “are clearly seen as advertising now.”

Rossi reasoned that Congress should act to mandate that all gambling content include responsible gaming messaging and/or problem gambling help.

The post Gaming Industry on Defensive After Study Raises Concerns About Sportsbook Content appeared first on Casino.org.

Miami-based Betr has market access for online sports betting in six states, and has an extensive media division that includes betting and sports podcasts. Welch’s “Talk Tuah” weekly podcast will be part of the Betr Media unit and is scheduled to debut on September 10.

Betr Media’s deal with Welch comes on the heels of the company’s latest strategic expansions to its monetized content portfolio, including the acquisition of the Caps Off and Hot Corner podcasts from The Game Day,” according to a statement.

Financial terms of the agreement weren’t disclosed and the extent to which Welch will discuss betting isn’t yet known. In July, the Tennessee native’s 16 Minutes LLC filed a variety of trademark applications, including one for “Bet On That Thang” — a spin on a provocative comment made by Welch in the video that launched her to internet stardom.

Betr, Welch Could Be an Ideal Pair

Betr, which emphasizes microbetting, could be the ideal avenue through which Welch can extend and grow her fame.

“Betr Media is one of the fastest growing sports betting media brands in the United States that has grown to over 7.3 million followers, 4 billion impressions, and 209 million engagements across its social channels since publicly launching in August 2022,” according to the company.

Internet celebrities, such as Welch, are often popular with the 21 to 35 age demographic, particularly males – a group that’s highly coveted by gaming companies. In announcing the deal with Welch, Betr didn’t comment on the media arm’s ability to drive visitors to the company’s betting offerings.

‘Talk Tuah’ Could Be a Smorgasbord

As noted above, how much wagering content will be featured on “Talk Tuah” remains to be seen, but Welch provided some insight as to how the podcast will shape up.

My show will have a little of everything – great guests, laughs, chit-chats about your pets, relationship pointers, sports, and of course, some down-home southern charm,” she said in the press release.

Betr added that its fantasy sports pick ‘em offering is available in 25 states and Washington, DC — a figure that’s expected to increase to 33 states in the weeks ahead. Welch’s home state of Tennessee permits mobile sports betting.

The post Hawk Tuah Girl Hailey Welch Inks Podcast Deal with Betr appeared first on Casino.org.

In a note out on Tuesday, analyst Dan Wasiolek initiated coverage of the FanDuel parent with a four-star rating (five is the highest) and a fair value estimate of $250. That implies potential upside of 18.4% from Tuesday’s closing price.

Flutter’s construction of a daily fantasy sports product in July 2009 provided a first-mover lead to take advantage of a 2018 Supreme Court ruling that allowed for legalized sports and iGaming wagering in the US. As a result, Flutter holds a commanding 40% digital revenue share in the US,” wrote Wasiolek.

Flutter owns 95% of FanDuel, which is half of the US online sports betting (OSB) duopoly, with DraftKings (NASDAQ: DKNG) representing the other half. While the two companies are often joined at the hip, their share price performance hasn’t been in lockstep. Year to date, shares of the FanDuel owner are up nearly 18% while DraftKings is lower by 4.54%.

Flutter’s Non-US Operations Help Stock’s Case

The FanDuel brand is one of the most valuable in the gaming industry and highly recognizable to US daily fantasy sports (DFS) participants and sports bettors. Even so, many American bettors and some investors don’t know that Flutter has significant operations outside of this country.

Outside the US, Flutter’s decades of expertise in product development and risk management have also led to top revenue share. “The company holds 29% and 46% online gaming revenue share in its most mature markets of UK and Ireland (26% of 2023 sales) and Australia (12%), respectively,” added Wasiolek.

The analyst pointed out that Flutter has smartly integrated its parlay offerings and tech stack into Sisal since acquiring that firm in 2022, allowing it to increase revenue share in Italy. Italy is an important market for Flutter because it’s the Eurozone’s third-largest economy and Europe’s largest regulated gaming market after the UK.

Flutter Thriving in Multiple Countries

At a time when smaller operators are frequently waving the white flag in the US OSB space, and some midsized players are failing to grab share from FanDuel and DraftKings, Flutter is asserting earnings prowess in this country and others.

It’s doing so in such a way that earnings before interest, taxes, depreciation, and amortization (EBITDA) margins are expanding at an impressive pace.

“The company’s UK and Australian segments still see over 20% EBITDA margins, despite stringent regulation and industry maturation in these regions,” concluded Wasiolek. “ESPN Bet’s aggressive entry into the US market in the past several months has not prevented share gains or expanding EBITDA margins at Flutter’s FanDuel brand.”

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The casino giant and the online sportsbook operator will increase exposure of the GameSense platform at nine NFL stadiums in jurisdictions in which sports wagering is legal. GameSense was developed by the British Columbia Lottery Corporation (BCLC) and originally licensed to MGM in 2017.

The program focuses on positive, transparent, and proactive engagements with guests and customers about how to gamble responsibly. With this development, GameSense marketing will appear more often and in more prominent venue locations during each game,” according to a statement.

Last year, BetMGM and MGM were among the first gaming operators to actively promote responsible wagering habits at NFL stadiums. The other half of BetMGM is controlled by UK-based Entain Plc.

BetMGM Responsible Betting Initiative Practical

The plan by BetMGM and MGM to increase awareness and visibility of GameSense at NFL stadiums is practical on multiple. Not only does the 2024 season start Thursday, but bettors are expected to wager more than ever before on NFL games this year.

NFL players are prohibited from wagering on any NFL event and they cannot use proxies to do so on their behalves. They also cannot wager in any form at team facilities, while traveling to a road game or at a team hotel.

As part of Responsible Gaming Education Month, “MGM Resorts is announcing a $440,000 contribution to fund responsible gaming research through the International Center for Responsible Gaming and Kindbridge Research Institute.”

Variety of Venues to See Responsible Betting Ads

The stadiums that will see increased responsible betting ads this year are Acrisure Stadium, Allegiant Stadium, Empower Field at Mile High, Ford Field, GHEA Field at Arrowhead Stadium, M&T Bank Stadium, MetLife Stadium, Nissan Stadium, and State Farm Stadium.

Those are the homes of the Pittsburgh Steelers, Las Vegas Raiders, Denver Broncos, Detroit Lions, Kansas City Chiefs, Baltimore Ravens, New York Giants and New York Jets, Tennessee Titans, and the Arizona Cardinals. Online sports betting is legal in all of the states in which those stadiums are located with the exception of the Chiefs’ home field.

“BetMGM will also add to its catalogue of advertisements in the coming months that highlight its comprehensive responsible gaming resources. The spots will feature brand ambassadors sharing engaging messaging, similar to its highly regarded responsible gaming commercial featuring NHL MVP Connor McDavid,” concluded the gaming company.

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Some analysts believe the sports betting data provider has more upside in store for investors. In a note to clients today, B. Riley analyst David Bain reiterated a “buy” rating on Genius with a $10 price target, implying upside of 31.2% from today’s close.

On its 2Q24 earnings call, GENI stated it expects 20%-plus revenue growth for the ‘foreseeable future,’” wrote Bain. “However, calendar year (CY) 25E consensus sales growth is 14%. 20% growth from CY24E estimates implies an additional $29M of CY25E revenue versus consensus. Using GENI’s general midpoint flow-through guidance implies an additional $12M of EBITDA, 11% higher than CY25E consensus EBITDA estimates.”

With the arrival of football season, Genius could further be in focus because it is the exclusive provider of the NFL’s real-time, official play-by-play statistics, which are in high demand by sportsbook operators because football is the most wagered on sport in the US.

Genius Sports Could Notch Near-Term Upside

The arrival of football season is seen as a boon for a variety of gaming companies and while Genius is a business-to-business firm, expectations that bettors will wager more than ever before on the NFL could be a legitimate catalyst for the already high-flying stock.

“We estimate a 500 bps mix shift to U.S. OSB NFL-only in-play from pre-match wagering equates to an additional $3M of EBITDA to GENI. Operators have been transparent about increasing the in-play mix of betting with additional propositions, placing in-play betting opportunities, and using low-latency technology (including GENI’s BetVision),” noted Bain.

The analyst added that markets may not yet be fully appreciating the potential positive impact in-game wagering expansion could have on Genius shares.

Genius Sports Has Other Catalysts

In July, Genius announced a deal with X (formerly Twitter), one of the largest social media platforms in the world. Under the terms of the agreement, Genius will leverage its ad-tech products to deliver advertisements specific to conversations taking place on X.

With more media rights negotiations coming up, ad-tech could be unheralded catalyst for Genius shares while diversifying the company’s revenue stream.

“While more difficult to quantify, we believe many of GENI’s new ad tech offerings — ads placed directly into live streams or a self-service platform offering GENI’s unique data for advertisers to use in ad buys (100% margin business for GENI) — are potential levers for media growth relative to consensus. We believe some U.S. take-rate negotiations will benefit GENI’s media division with higher go-forward commitments,” concluded Bain.

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In a media session earlier this week following a Cowboys practice, Jones said he thinks the Lone Star state will eventually have sports betting, but until then, Texas is missing out on an opportunity to generate significant tax receipts.

I think ultimately you’ll have sports betting in the state of Texas. Until that time, the state does lose an opportunity for huge amounts of revenue,” the Cowboys boss said.

Jones didn’t speculate as to when the state could approve mobile sports betting, but it appears that is highly unlikely to happen prior to the 2027 legislative session. If it happens then and the matter is approved by voters later that year, it’s possible Texas would have mobile sports wagering in advance of the 2028 football season.

Jones Wants Transparency in Texas Sports Betting

Jones and other owners of professional teams located in Texas have been vocal supporters of regulated sports wagering coming to the state because it’d be a money-maker not only for the state, but for their franchises as well.

“I think that properly, properly supervised, by the people that play the games and people that have the teams that play the games and the individual athletes — you’ve got to make sure that the perception is and the reality is that there’s just no compromising on it all being very competitive and up-and-up,” he told the press. “I think that takes some time in some places more than it does others.”

Jones has some gaming investments, including ties to an Arkansas casino plan. Along with several other professional team owners, he was an early investor in DraftKings (NASDAQ: DKNG).

Texas Sports Betting Outlook

In 2023, both casino gaming and sports wagering made more progress than the issues previously had in Texas, but both ultimately perished because there wasn’t momentum in the state Senate to take up the related bills.

Lt. Gov. Dan Patrick (R) controls what bills are heard in the Senate and his opposition to gaming expansion is well-documented.

Due to this being an election year, the Texas legislature had a brief schedule, making it difficult to consider gaming issues. The legislature is scheduled to reconvene in January, but the prevailing wisdom in sports betting circles is that politicians there won’t prioritize sports wagering.

The post Jerry Jones: Without Sports Betting, Texas Missing Out On Big Revenue appeared first on Casino.org.

Through his JEMB Realty, which has vast office, residential, and entertainment experience throughout the Garden State, Bailey revealed his plans to overhaul Monmouth Park’s roughly 80 acres of paved surface parking lots and undeveloped property into a vibrant mixed-use complex.

Bailey says construction at Monmouth Park is slated to begin in the fourth quarter of 2025 after permits are secured and construction teams are procured.

Monmouth’s Mammoth Project?

Monmouth Park is located in Oceanport, less than two miles west of the Jersey Shore. Bailey says the multiyear, multiphase development will “reimagine” the storied horse racetrack that’s home to the annual Haskell Invitational, a major race for three-year-old thoroughbreds that comes in July after the conclusion of the Triple Crown but before the Breeders’ Cup.

We are embarking on the next phase of a journey that began over a decade ago when we developed plans to reimagine and reinvent the Monmouth Park experience that has brought so much joy to generations of horse racing enthusiasts,” Bailey said in a press release. “We have always been staunch advocates for returning the area to its rightful place as the premier destination for horse racing and family entertainment while including important components that serve the community at large.”

Bailey says the project comes with the support of several state agencies, including the NJSEA and the New Jersey Thoroughbred Horsemen’s Association. New Jersey Gov. Phil Murphy (D) applauded the initiative.

“Monmouth Park Racetrack is an iconic New Jersey attraction,” the governor said. “We are thrilled to see this project move forward, which will bolster the local economy and ensure that the area is a popular destination for generations to come.”

Along with the 200-key hotel, the Monmouth Park blueprint includes plans for a 298-unit residential building, indoor and outdoor sports facilities tailored toward youth sports, and an outdoor pool complex. Bailey says the mixed-use complex will also offer a live music venue.

No Casino — For Now

Brick-and-mortar casino gambling in New Jersey remains confined to Atlantic City, though retail sports betting is allowed at the state’s three horse racetracks. Monmouth Park was one of the first retail sportsbook locations to open outside of AC following the 2018 Supreme Court repeal of a federal law that had limited single-game betting to Nevada.

In May, Monmouth Park broke ground on its trackside Caesars Sportsbook. The track’s sportsbook operation has remained inside the grandstand in a dated sports bar since the facility gained sports betting privileges more than six years ago.

New Jersey Sen. Joseph Pennacchio (R-Morris) has been fighting to amend the state constitution to allow slot machines at racetracks for over a decade. His continual constitutional referendum proposals have suggested directing 30% of racino slot taxes directly back to the nine casinos in Atlantic City.

Pennacchio’s 2024 Senate Concurrent Resolution 14 failed to advance out of the chamber’s State Government, Wagering, Tourism & Historic Preservation Committee.

The post Resorts Atlantic City Owner to Expand Monmouth Park Into Mixed-Use Complex appeared first on Casino.org.

The gaming company made the decision as part of its strategic review of its US operations, and it arrived about two months after BlueBet announced plans to leave Indiana. At that time, the operator indicated it intended to continue doing business in Colorado, Iowa, and Louisiana, but it also told investors the strategic review was ongoing. By leaving the US, BlueBet can better focus on its Australian business, which is thriving.

The company’s stated objective is to exceed 10% market share in the short- to mid-term through a combination of organic and inorganic growth,” according to a statement. “It is confident its expertise in building and scaling Australian wagering operators and ongoing investment in technology will deliver outstanding experiences for customers and create value for shareholders.”

BlueBet acquired Aussie rival Betr in April, combining the buyer’s technology stack with the target’s strong customer base. By leaving the US, BlueBet can focus on tapping synergies in that deal.

BlueBet Will Save Cash By Leaving US

Although the US is the newest large regulated sports wagering market in the world, it’s fast become one of the most competitive and expensive to operate in. Those costs especially weigh on smaller operators such as BlueBet.

“The decision to exit the US comes as slower than expected regulation has hampered total market growth and hindered interest in the company’s B2B SaaS platform, which BlueBet viewed as a significant opportunity,” the company added in the statement.

Though it didn’t mention any rivals by name, BlueBet acknowledged the difficulties smaller operators face in the US when going up against larger rivals. Currently, the US sports wagering is essentially a duopoly controlled by FanDuel and DraftKings.

With BlueBet, US Sports Betting Casualties Piling Up

With BlueBet confirming it’s abandoning the consumer-facing side of the US sports betting market, “deaths” in the space are piling up at a rapid pace. BlueBet’s decision arrived less than two weeks after Betfred said its considering a similar move.

BlueBet added that it will continue to seek monetization of its technology assets in the US and abroad. It expects to take one-time charges related to the closures of its various state-level operations.

The post BlueBet Departing US Sports Betting Market appeared first on Casino.org.

Garcia, a 30-year-old from France who reached the semifinals of the 2022 US Open and was ranked as high as No. 4 in the world at the height of her career in September 2018, blamed the ongoing expansion of legal sports betting in the US for much of the online harassment and threats. After being eliminated by Renata Zarazua, ranked 92nd and making her debut in the Grand Slam major, Garcia thought it was time to reveal what players bear every week from agitated bettors.

“Tournaments and the sport keep partnering with betting companies, which keep attracting new people to unhealthy betting. The days of cigarette brands sponsoring sports are long gone. Yet, here we are promoting betting companies, which actively destroy the lives of some people,” Garcia opined.

Time for Action?

Garcia was the favorite in her match against Zarazua, with most sportsbooks putting the 2022 WTA Finals champion around -210 to Zarazua at +160. Garcia’s odds implied a likely winning chance of nearly 68%.

After losing convincingly in straight sets 6-1, 6-4, Garcia said she fielded more abuse from bettors who lost money on her poor play.

If someone decided to say [these] things to me in public, he could have legal issues. So, why online we are free to do anything? Shouldn’t we reconsider anonymity online?”

Garcia encouraged tennis fans and sports bettors?to remember that professional athletes are also human beings.

“Be kind. Give love. Enjoy life,” she concluded.

Garcia said she isn’t opposed to allowing fans to bet on tennis matches, but questions whether the sport’s governing bodies should be partnered with and promoting the gambling firms.

League Pledges Fall Short

Tennis’ governing bodies — the International Tennis Federation (ITF), Women’s Tennis Association (WTA), All England Lawn Tennis Club (AELTC), and United States Tennis Association (USTA) — have entered into numerous partnerships over the past few years with companies and organizations that are supposedly capable of protecting the integrity of the game and safeguarding players from the abuse Garcia detailed.

In late December, the groups aligned with Threat Matrix to curb cybercruelty. Threat Matrix comes from LexisNexis, a US-based data analytics company.

The governing bodies said at the time that the Threat Matrix partnership was to “protect and support athletes from mental trauma and potential real-world threat of online harassment and abuse.”

Threat Matrix claims to have the capability to identify people behind their anonymous social media accounts and relay such information to appropriate parties, including law enforcement. Tennis’ governing bodies haven’t publicly responded to Garcia’s comments.

The post Tennis Pro Caroline Garcia Exposes Online Abuse Following Early Exit at US Open appeared first on Casino.org.

Financial terms of the transaction weren’t disclosed. When rumors of the deal surfaced in May, it was speculated that DraftKings could pay $120 million to $170 million for privately held Simplebet. The pair have an existing relationship. In 2021, they inked a deal in which Simplebet provided microbetting services to DraftKings Sportsbook.

The Proposed Transaction would allow for the integration of Simplebet’s proprietary machine-learning models into DraftKings’ best-in-class pricing and technology platform to create highly accurate betting opportunities during every moment of a game,” according to a statement issued by the buyer. “The Proposed Transaction would improve the quality, breadth and speed of data throughout the DraftKings trading lifecycle, and would unlock a faster and more frictionless experience for the Company’s customers.”

Boston-based DraftKings is Simplebet’s largest client. The target was valued at $210 million following a Series C funding round of $28.6 million three years ago.

Simplebet Could Be Smart Deal for DraftKings

For DraftKings, the purchase of Simplebet could prove shrewd because microbetting is a fast-growing derivative of in-game or live betting — areas operators are pushing into in efforts to increase handle and revenue.

In-game wagering has long been popular in mature sports wagering markets such as Australia and Europe, and it’s rapidly gaining momentum in the US. Underscoring why DraftKings may have found Simplebet to be an alluring target is the need for technology to make live and microbetting work.

“Simplebet has developed a scalable, maintainable, and highly performant foundation for a live betting platform that is algorithm oriented. With machine learning and automation to supplement the betting experience, Simplebet’s proprietary models offer more in-play moments for bettors,” according to the DraftKings statement.

Inside Simplebet’s Story

New York-based Simplebet was founded in 2018 and is a business-to-business provider of microbetting markets on college basketball and football, Major League Baseball (MLB), the NBA, NFL, and the NHL.

In addition to DraftKings, Simplebet sportsbook clients include Caesars Sportsbook, ESPN Bet, FanDuel, and Hard Rock Sportsbook, among others.

It’s not yet clear if those operators will remain with Simplebet when it becomes part of DraftKings or if they’ll pursue microbetting relationships with Simplebet competitors.

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