One of the big challenges for contemporary gaming operators is how best to balance their land-based and internet-based operations. Many operators have expressed worries that online casino customers would stop going to land-based casinos and that the whole cycle would amount to something like self-cannibalization. BetMGM CEO Adam Greenblatt, however, is not concerned about cannibalization…
Events predictions operator Kalshi is going to have its day in court against state gaming regulators that have banned events predictions markets in their jurisdictions. Late last week, Kalshi filed lawsuits against the the Nevada Gaming Control Board (NGCB) and the New Jersey Division of Gamine Enforcement (DGE) Gaming Control Board (NGCB) and the New…
Resorts World will be paying a $10.5 million fine for failing to comply with Nevada anti-money laundering (AML) regulations. The fine, which was the key part of an agreement the company reached with the Nevada Gaming Control Board (NGCB), is the second-largest ever levied by the Board. The beleaguered Strip casino got into hot water…
Major League Baseball (MLB) is joining the discussion surrounding events contracts and prediction markets with a letter addressed to acting Commodities Futures Trading Commission Chair Caroline Pham. In the letter, penned by Bryan Seeley, Executive Vice President, Legal & Operations, the MLB stresses what it sees as a dire need for events contracts operators to…
If you were hoping to augment your monthly egg fund with profits from prediction markets like Kalshi and you live in Nevada, we have some bad news for you. Earlier this week the Nevada Gaming Control Board (NGCB) announced that as of March 14, event prediction markets would no longer be available to Nevada residents.…
Several Fresno State basketball players are under investigation by the NCAA for allegedly betting on their play on daily fantasy sports (DFS) sites. According to ESPN.com, junior forward Mykell Robinson and a group of his associates were regularly betting on their play, including the under line. Details of the investigation are still scarce, though whatever…
Anyone who is wondering whether or not prediction markets are an actual threat to traditional gaming interests should have a talk with Nevada Congresswoman Dina Titus (D). Last week Titus sent a letter to Commodity Futures Trading Commission (CFTC) Acting Chairwoman Caroline D. Pham voicing her concerns about prediction markets and their impact on regulated…
YouTube is cracking down on unregulated gambling sites with a policy update that was announced earlier this week. The massive, and ubiquitous, content site will definitely be a less friendly place for grey and black market sites when the update goes into effect and could have a big impact on affiliates and operators alike. Under…
The sports events contract market is exploding in the United States and the American Gaming Association (AGA) really wants to be part of the conversation. This week, the gambling industry’s biggest lobbying group sent a letter to the Commodities Futures Trading Commission (CFTC) requesting a seat at the table when the Commission discusses event trading…
GeoComply is making some moves at its executive level this week with the hiring of former FanDuel President and Chief Operating Officer Kip Levin as its new CEO. Levin is replacing GeoComply co-founder Anna Sainsbury, who is remaining with the company as executive chairman. It's a big move that illustrates the incredible growth experienced recently…
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