Betting
When a bet is not a bet: Kalshi, online brokers test a fuzzy legal line on predictions
At 9 a.m. Thursday, prediction market contracts that had Rory McIlroy winning the Masters were trading at 13 cents through online brokerage Robinhood, a pricing structure that would allow those who purchased $20 in contracts to collect $134 in profits if McIlroy won.
Sportswear, betting companies rally after 90-day pause on tariffs
Just one week after announcing wide-ranging tariffs, the White House today reversed course, indicating nearly all foreign nations would face a universal 10% tariff for 90 days while negotiations continue. The tariff relief does not apply to China, which is now facing a 125% rate.
Teen Jeremy Monga wears blank Leicester City jersey due to gambling sponsor rule
Premier League club Leicester City MF Jeremy Monga -- a 15-year-old -- had to “wear a blank shirt” during his senior debut with the club yesterday because the jersey is “sponsored by an online cryptocurrency gaming platform,” according to Chiranjit Ojha of REUTERS. Britain’s Gambling Act 2005 prohib...
Ex-AGA exec Slane joins betting disruptor Kalshi
The woman who helped build bridges between legal sportsbooks and the U.S. sports establishment will take a crack at doing the same for N.Y.-based Kalshi, a federally regulated futures exchange that has caused a firestorm of late by bringing what it calls event-based prediction markets to sports.
February betting handles holding steady; Nevada takes hit without hosting Super Bowl
February brought the usual double-digit handle drop that accompanies the wind down of football season, but year-on-year figures continue to pace ahead of last year by 5%, with Illinois, Arizona and Kentucky still to report.
SBJ Betting: Robinhood, Kalshi latest to test a line that has grown fuzzy
Robinhood, Kalshi latest to test a line that has grown fuzzy
AGA’s new ‘Play Smart’ responsible gambling campaign won’t bump ‘Have A Game Plan’
The new “Play Smart from the Start” responsible gambling campaign that the American Gaming Association unveiled Friday morning is not expected to supplant the “Have a Game Plan” PSA effort that the trade organization has offered to leagues, teams and venues across U.S. sports since launching it in 2...
Optimove says only slightly more are betting March Madness this year, but stakes are rising down the stretch
Slightly more people have wagered on this year’s NCAA Men’s Basketball Tournament than last year’s thus far, but they’re wagering significantly more, particularly in an Elite Eight that included all four top seeds, according to data provided to SBJ by marketing firm Optimove.
When a bet is not a bet: What Robinhood calls derivative trading looks like a sportsbook
At 9am ET Wednesday, prediction market contracts that had Duke beating Houston in this Saturday’s NCAA men’s basketball semifinal were trading at 71 cents through online brokerage Robinhood, a pricing structure that would allow those who purchased $71 in contracts to collect $100 if the Blue Devils ...
Baltimore sues DraftKings, FanDuel over tactics
The city of Baltimore is suing DraftKings and FanDuel, accusing the companies of “violating consumer protection rules by targeting and exploiting people with gambling problems.” In the lawsuit, filed Thursday in Baltimore City Circuit Court, the city alleges that DraftKings and FanDuel use “‘mislead...
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We’ve heard from brands and investors that they’re excited to invest in the space, but that there’s not enough to sponsor. As a result, we’re focused on creating more content for advertisers, streamers/networks and fans; more live experiences and activations both on the grassroots level and at major women’s sports tentpoles; and more consumer products.-- Togethxr co-founder Alex Morgan, on the media company's plans for the future now that it has hit profitability.
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