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☆ From Sports Betting to Meme Coins, Young Men Are Gambling in Droves
▼ + stars: | 2024-04-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

For young men in particular, it's an enticing, if a bit troubling, prospect. For some young men, a level of nihilism about the economy leads to an impetus to take some risks. Along with the rise of new customers, problem-gambling behavior is increasing, especially among young men. The New Jersey report identified a significant prevalence of high-risk stock trading among young men. According to the National Council on Problem Gambling, some 2.5 million Americans have a severe gambling problem, and another 5 million to 8 million have a problem it considers mild or moderate.

Persons: You've, Donald Trump's, Crypto, they're, they've, Timothy Fong, we've, Fong, it's, Kahlil Philander, haven't, Philander, Davids, Goliaths, Warren Buffett, Berkshire Hathaway, Emily Stewart Organizations: GameStop, AMC, NCAA, Pew Research, UCLA, Washington State University, National Council, sportsbooks, Business Locations: America, United States, Berkshire, New Jersey, Atlantic, Jersey, Plenty

☆ Sportsbooks report record betting throughout the March Madness tournament
▼ + stars: | 2024-04-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSportsbooks report record betting throughout the March Madness tournamentCNBC's Contessa Brewer reports on the stocks set to benefit from March Madness.

Persons: Contessa Brewer

☆ Barstool's Dave Portnoy won $2.7 million betting on UConn in NCAA men's final
▼ + stars: | 2024-04-09 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Barstool Sports founder Dave Portnoy is cashing in $2.76 million on UConn's big win over Purdue Monday night in the NCAA men's championship game. FanDuel said the men's championship game saw a 52% year-over-year increase in bet count and a 42% year-over-year increase in handle. At Caesars , Monday's championship game accounted for the most same-game parlays ever placed on a college basketball game at their sportsbook. FanDuel, BetMGM and Fanatics say the championship game was their single biggest betting event on women's sports. Caesars said the women's championship saw double the previous handle record for a women's college basketball game.

Persons: Dave Portnoy, Portnoy, DraftKings, Barstool, FanDuel, Craig Mucklow, Caitlin Clark, BetMGM, Mucklow Organizations: Florida Atlantic Owls, Loyola, Ramblers, Wintrust Arena, Barstool Sports, Purdue, NCAA, Huskies, CNBC, DraftKings, Penn Entertainment, Washington , D.C, American Gaming Association, Caesars Locations: Chicago , Illinois, Washington ,

☆ Won (or lost) your March Madness bets? Don’t forget to report them on your taxes
▼ + stars: | 2024-04-09 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

New York CNN —If you won big on bets you made for the March Madness men’s and women’s NCAA tournaments, enjoy the money. So if you made bets last year, here’s what you need to do on your 2023 tax return, which is due for most people on April 15. Your winnings also may be subject to state tax, unless you live in the dozen or so states that exempt gambling winnings. It will then be up to you on your tax return to square whether you owe more or less on your winnings. So say you won $1,000 in 2023 at the tables in Vegas, but you lost $1,500 betting on last year’s March Madness tournament.

Persons: ”, Mark Luscombe, Luscombe, ” Luscombe, Daniel Rahill Organizations: New, New York CNN, NCAA, American Gaming Association, IRS, Wolters Kluwer, Accounting, Wintrust Wealth Management, Illinois CPA Society Locations: New York, Vegas

☆ FanDuel says Iowa-LSU game was its biggest betting event of all time for women's sports
▼ + stars: | 2024-04-02 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The superstar women's college basketball matchups Monday night attracted more than just viewers — the games also set new sports betting records. FanDuel tells CNBC that the Louisiana State University versus Iowa game was its biggest betting event of all time for women's sports. 1 betting event Monday, ahead of all National Basketball Association, Major League Baseball and National Hockey League games, FanDuel said. The women's basketball games were its top two events last night, ahead of every MLB and NBA game, a spokesperson told CNBC. BetMGM also had a big night, saying the Iowa-LSU matchup was its most bet-on women's basketball game ever.

Persons: Caitlin Clark, FanDuel, sportsbooks, Monday's, Angel Reese, Kim Mulkey, Paige Bueckers, Karol Corcoran, FanDuel Sportsbook, DraftKings, BetMGM, Seamus Magee Organizations: Iowa Hawkeyes, Lousiana State University Tigers, NCAA, Arena, CNBC, Louisiana State University, Iowa, ESPN, American Gaming Association, Monday's LSU, National Basketball Association, Major League Baseball, National Hockey League, University of Connecticut, University of Southern, MLB, NBA, NFL, LSU, UConn, NC State, Wolfpack Locations: Albany , New York, Iowa, University of Southern California, BetMGM, South Carolina

☆ Why the Shohei Ohtani story is so concerning for baseball and sports
▼ + stars: | 2024-03-29 | by ( Harry Enten | ) edition.cnn.com time to read: +10 min

CNN —I can’t recall a recent baseball story that has captured the public imagination like the current one involving Los Angeles Dodgers phenom Shohei Ohtani, his former translator Ippei Mizuhara and gambling. That said, assuming Ohtani has done nothing wrong, America’s pastime will emerge from this situation mostly unscathed. Ohtani stalls at second base after hitting a double during the first inning of a game against the St. Louis Cardinals. Yes, one team is favored to win, but we don’t know that team will win for sure. And if it occurs involving someone as beloved as Ohtani, it could be a disaster for not just baseball, but sports around the globe.

Persons: Shohei Ohtani, Ippei, –, Ohtani, Will Ireton, Kirby Lee, Reuters Ohtani, it’s, Mike Trout, didn’t, I’ll, won’t, Sean M, I’m, It’s, they’ve, We’ve, Brad Bohannon, Bohannon, Jontay Porter, bettors, Porter, ” Porter wasn’t, Stu Foster, Sandro Tonali, Phil Mickelson, Pete Rose, Shoeless Joe Jackson –, Rose, Jackson, Tyrese Haliburton, JB Bickerstaff, Charlie Baker, Ezra Shaw, Rob Manfred, David, Goliath Organizations: CNN, Los Angeles Dodgers, Major League, Dodgers, USA, Sports, Reuters, League, Baseball, St, Louis Cardinals, American, NFL, Former University of Alabama, Alabama, Toronto Raptors, Italian Football Federation, England’s Football Association, Newcastle United, Major League Baseball, Cincinnati Reds, Black Sox, Chicago White Sox, Famers, Bettmann, Indiana Pacers, Cleveland Cavaliers, NBA, Getty Images, American Gaming Association, Census, MLB, MLB Network Locations: United States, Nevada, Bohannon, Italy, Tonaly, England

ROGA members commit to work together on issues ranging from education, responsible gaming best practices, conscientious advertising and marketing across the industry. Justin Sullivan | Getty ImagesROGA says it will create a certification program to assess members' responsible gaming efforts and provide an incentive for operators to participate. Problem gamblingAn estimated 2 million U.S. adults meet the criteria for a severe gambling problem, according to the National Council on Problem Gambling. Another 5 million to 8 million U.S. adults are considered to have a mild or moderate gambling problem. Problem gambling prompted regulatory crackdowns in Europe and especially in the United Kingdom over the last couple years, impacting sportsbooks' profitability and changing the way they conduct business.

Persons: —, Jennifer Shatley, ROGA, Justin Sullivan, Shohei Ohtani, Ohtani, he's, Jontay Porter, There's, Paul Tonko, Tonko, PrizePicks, FanDuel, Milton Thompson, CNBC it's, it's, Silquia Patel, Eduardo Munoz Organizations: MGM PENN, Penn Entertainment, Online Gaming Association, D.C, Super, Los Angeles Dodgers, NBA, Toronto Raptors, Integrity, Temple University, National Council, . Rep, CNBC, DraftKings, Indiana Gaming, Caesars, American Gaming Association Locations: BetMGM, United States, Washington, Europe, United Kingdom, New York, Indiana, Rhode, Kentucky, East Rutherford , New Jersey, U.S

☆ Sports Gambling Was a Gateway Drug to Online Gambling and the Lottery
▼ + stars: | 2024-03-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

As the prevalence of online betting grows, there's plenty of revenue to be had. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue. Of course, as fun as sports gambling is — as is gambling in general — it has some serious downsides for society. According to the National Council on Problem Gambling, 2 million Americans have a severe gambling problem, and another 4 million to 6 million a mild or moderate problem. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue.

Persons: Lia Nower, DraftKings, Jason Robins, iGaming, Robins, DraftKings isn't, —, West Virginia —, Chad Beynon, Benyon, they're, Nower, Chris Grove, Grove, There's, let's, I've, legalizes iGaming, Emily Stewart Organizations: Knicks, Sports, Disney, American Gaming Association, NBA, NFL, Center for Gambling Studies, Rutgers University, Golden Nugget, Caesars, MGM, Macquarie, Companies, Atlantic City, Acies Investments, EKG Ventures, Vegas, National Council, Business Locations: Washington, Boston, Dublin, — New Jersey , Connecticut, Delaware , Michigan, Rhode Island , Pennsylvania, West Virginia, New York, Atlantic, New Jersey, Jackpocket, America

Berry, who drives for Stewart-Haas Racing and will make his Daytona 500 debut on Sunday, wished he had Swift sign a yearbook. “I would have already sold it by now,” he quipped Wednesday at Daytona 500 media day. For the Daytona 500, Hard Rock is taking bets on everything from winning driver and winning race team to top Ford, Chevrolet and Ford drivers. That’s the fastest I’ve ever accelerated because of the all-wheel drive and the torque.”YELEY BEHIND THE WHEELJ.J. Yeley was a late addition to the Daytona 500. DE FERRAN TRIBUTEAustin Cindric, the 2022 Daytona 500 winner, has dedicated this race to late open-wheel star Gil de Ferran.

Persons: — Taylor Swift, Josh Berry’s, Swift, Berry, Stewart, Haas, “, ”, Dang, ’ ” Berry, ” Berry, David Ragan, Ragan, ” Ragan, They’re, I’ve, Yeley, Greg Biffle, ” Biffle, FERRAN, Austin Cindric, Gil de Ferran, De Ferran, Cindric’s, Tim, Austin, ” “ Gil, ” Cindric Organizations: DAYTONA, Henderson, Daytona, ESPN Bet, NASCAR, Ford, Chevrolet, Martinsville Speedway, Toyota, EV, NY Racing, Team Penske, Penske, California Speedway Locations: Fla, Tennessee, Florida, BetMGM, Martinsville, Indianapolis

ATLANTIC CITY, N.J. (AP) — With this year's Super Bowl being played in Las Vegas, the nation's gambling capital, there was little doubt that betting on the big game would be huge. The 2023 Super Bowl between the Chiefs and the Philadelphia Eagles brought in $153.1 million worth of bets. In Pennsylvania, $71.5 million was wagered on the Super Bowl, down 15% from last year's Super Bowl, in which the Philadelphia Eagles lost to the Chiefs. Other states with big sports betting markets, including New York and Illinois, had yet to report betting levels for this year's Super Bowl as of Wednesday evening. Maine, which offered Super Bowl gambling for the first time, saw about $3.5 million wagered online, according to an estimate from the state's Gambling Control Unit.

Persons: sportsbooks, “ We’re, Chris Bevilacqua, ” BetMGM, Wayne Parry Organizations: CITY, Kansas City Chiefs, San Francisco 49ers, Nevada Gaming Control Board, Los Angeles Rams, Cincinnati Bengals, Chiefs, Philadelphia Eagles, Atlantic City, Super, of Gaming Enforcement, NFL Locations: N.J, Las Vegas, New Jersey, Pennsylvania, New York, Illinois, Maine, bettors, www.twitter.com

States require a gambler to be physically located within their borders in order to make online bets. Throughout Super Bowl weekend, GeoComply saw a total of 8.5 million active accounts, up 15% from last year's Super Bowl. “It was a bad Super Bowl for the sportsbook," said Tristan Davis, a senior trader at BetMGM. DraftKings would not release figures Monday about its performance during the Super Bowl. Several sportsbooks also issued odds for next year's Super Bowl winner, with the 49ers slightly ahead of the Chiefs.

Persons: Anna Sainsbury, GeoComply, Sportsbooks, Craig Mucklow, Travis Kelce, Isiah Pacheco, Deebo Samuel, Brandon Aiyuk, Tristan Davis, bettors, FanDuel, sportsbooks, Wayne Parry Organizations: CITY, —, Super Bowl, U.S, The Kansas City Chiefs, San Francisco 49ers, NFL, Super, Chiefs, 49ers, Caesars Sportsbook, Caesars, Associated Press Locations: N.J, Florida, U.S, Las Vegas, Vancouver, Canada, The, BetMGM

☆ DraftKings and FanDuel are set to be the big Super Bowl winners amid record betting activity fueled by Taylor Swift
▼ + stars: | 2024-02-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewSports betting companies are set to score big at this weekend's Super Bowl, with DraftKings and FanDuel leading the rush, Bank of America said in a Friday note. Sunday's game will see the Kansas City Chiefs play against the San Francisco 49ers, paving the way for blowout betting activity. DraftKings and FanDuel stand to benefit the most from this weekend of big betting, BofA equity strategists led by Shaun Kelley wrote. AdvertisementSports betting industry players are also positioned to benefit from the expected attendance of Taylor Swift, whose presence may kick betting activity into a higher gear, BofA wrote. Some examples of these proposition bets — wagers not tied to the game's outcome — include DraftKings' "how you get the girl," where Kelce scores a touchdown in each half.

Persons: —, FanDuel, Shaun Kelley, Kelley, Taylor Swift, BofA, Travis Kelce's, Swift, FanDuel isn't, Goldman Sachs, it's, Research Ben Andrews, Jim Chanos Organizations: Service, Bank of America, Kansas City Chiefs, San Francisco 49ers, Business, 49ers, Chiefs, NYSE, Leisure, Research

☆ Taylor Swift will lead to more betting on the Super Bowl, with one sportsbook benefiting in particular, analyst says
▼ + stars: | 2024-02-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Penn Entertainment's ESPN Bet sports betting service could prove to be a winner at the Super Bowl on Sunday — helped by the Taylor Swift effect, according to Bank of America. Morgan Stanley analyst Stephen Grambling calculates Swift could lead to about a 10% rise in viewership. These include proposition, or "prop," bets that aren't tied to the final score, such as "How many times will Taylor Swift be shown on camera during the telecast of the game?" or "Will the MVP mention Taylor Swift in his speech?" ESPN Bet especially could benefit because, compared with other sports betting platforms, it "may have a higher proportion of female bettors," Kelley wrote.

Persons: —, Taylor Swift, Travis Kelce, Shaun Kelley, Morgan Stanley, Taylor, Stephen Grambling, Swift, Grambling, Kelley, Clark Hunt, CNBC's, aren't, — CNBC's Michael Bloom Organizations: Penn, ESPN Bet, Bank of America, Kansas City Chiefs, NFL, Chiefs, ESPN Locations: Las Vegas, U.S

☆ A millennial sports bettor who's wagered nearly $1 million on FanDuel shares the 7 things new gamblers should do — and avoid
▼ + stars: | 2024-02-03 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

Read previewWhen states across the US started legalizing sports gambling in 2018, Jimmy, a New York-based sports bettor in his 30s, was ready. Since January 2022, Jimmy and his cousin have bet nearly $1 million through FanDuel and netted roughly $35,000 in winnings, according to a document viewed by Business Insider. Don't bet more than you're willing to loseJimmy said establishing a bankroll and unit size are important steps for new bettors. The unit size is the percent of the bankroll — Jimmy said ideally it's 1% — that gamblers dedicate to the typical bet. Despite his success with sports betting, Jimmy said he and his cousin both have part-time jobs.

Persons: —, Jimmy, FanDuel, Jimmy hasn't, they've, they'd, it's, bettor, parlays, shouldn't, Timothy Fong, Don't, he's, we'll Organizations: Service, Business, American Gaming Association, Sports, NCAA, NBA, WNBA, UCLA, Studies, National Council, Virgin Islands Locations: New York, Young, Canada, Virgin

☆ NFL reminds teams they can't bet on sports during Super Bowl week in Las Vegas
▼ + stars: | 2024-02-02 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

"Super Bowl LVIII is a highly anticipated and thrilling event for our fans and viewers. Super Bowl 58 in Vegas is expected to be the most bet on NFL championship ever. Staff must also strictly avoid sportsbooks, even for food or drink, while at the Super Bowl. However, employees of the Chiefs and 49ers won't be allowed to play until the Super Bowl is over. Correction: This story has been updated to reflect NFL gambling suspensions start at one to two years for players.

Persons: Roger Goodell, Goodell, Kayshon Boutte Organizations: National Football League, Super, Vegas . Employees, Kansas City Chiefs, San Francisco 49ers, CNBC, American Gaming Association, NFL, Louisiana State University, Staff, Chiefs, 49ers, CNBC PRO Locations: Las Vegas, Vegas ., Vegas

☆ The CEO of FanDuel's owner Flutter explains how its US stock debut could boost its edge over rivals like DraftKings and why it thinks of itself as a media business
▼ + stars: | 2024-01-31 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It's a great opportunity to bring the world's leading sports betting and gaming business to the world's leading capital market." AdvertisementJackson said he believes the US listing will help the company win media attention and new investors. DraftKings narrowly edged out in August FanDuel's market-share lead in the broader online gambling space that includes casino-style games, per EKG. "FanDuel is undoubtedly a media business," Jackson said.

Persons: —, Peter Jackson, Jackson, Paddy Power, it's, DraftKings, FanDuel, Pat McAfee, Charles Gillespie, Chad Beynon, Beynon Organizations: Service, New York Stock Exchange, Wall, Business, PokerStars, London Stock Exchange, Krejcik, Penn, ESPN Bet, Media, TVG, Gambling.com Group, Macquarie, Wall Street, Rush Street Interactive, Caesars Entertainment, Genius Sports, Research, Jefferies Locations: New York, London, Europe, Sportsbet, Australia, America, Sands

LAS VEGAS (AP) — Minutes after beating Baltimore 17-10 on Sunday to clinch a spot in the Super Bowl, Travis Kelce had a message to send. The early money is heavily on Patrick Mahomes and Kansas City to repeat as Super Bowl champions when the Chiefs face the San Francisco 49ers on Feb. 11. But the Super Bowl is one event where the casuals make up a much larger share of the money. LAS VEGAS' SUPER DEBUTPullen moved to Las Vegas in 1990 shortly after UNLV's basketball team won the national championship and the city was all about the Rebels. The Super Bowl being in Vegas wasn't on anyone's radar at that time.

Persons: Travis Kelce, ” Kelce, Bettors, Patrick Mahomes, sportsbooks, FanDuel Sportsbook, Sportsbook, Lamar Jackson, Taylor Swift, ”, Adam Pullen, “ Jackson, John Ewing, Ewing, they’re, Pullen, “ It's, ” Pullen, sportsbook, ___ Organizations: LAS VEGAS, Baltimore, Super, Chiefs, Kansas City, Super Bowl, San Francisco 49ers, Niners, Buffalo, 49ers, Detroit, Green, Caesars, KC, Rebels, UNLV, Michigan Locations: Kansas, Francisco, San Francisco, Las Vegas, Vegas

They can speculate all they want, but they won't be able to bet on it legally in the United States. BetMGM public relations manager John Ewing said he was waiting for word from Canadian authorities there if such bets will be OK. Las Vegas, the longtime epicenter of sports betting in the U.S., has some of the strictest rules regarding the kinds of wagers made. Since she's performing in Japan the weekend of the Super Bowl, fans began wondering whether she'll make it to Las Vegas to watch Kelce and Kansas City face the San Francisco 49ers. "We don’t want any subjectivity in a prop (bet),” Ewing said.

Persons: Taylor Swift, Travis Kelce, John Ewing, Kelce, Ewing, ” Ewing, “, Adam Pullen’s, “ We’ve, ” Pullen Organizations: LAS VEGAS, Super, Kansas City Chiefs, Gatorade, Chiefs, AFC, Baltimore, Bowl, Kansas City, San Francisco 49ers, Caesars Locations: United States, Costa Rica, Canadian, Ontario, U.S, Las Vegas, Japan, Kansas, Vegas .

ATLANTIC CITY, N.J. (AP) — Advertisements for sports betting continue to flood the airwaves, but the NFL said Tuesday that viewers will see only three such ads during the Super Bowl broadcast next month. But sportsbooks have only bought three such ads for broadcast right before and during the Super Bowl broadcast, fewer than the maximum allowed, NFL spokesperson Alex Riethmiller said. Part of that effort includes “being mindful of the tenor, volume and saturation of sports betting advertising and the degree with which we're integrating that into the live game,” Highhill said. The topic of sports betting advertising has been contentious for years. Highhill said the NFL tends to get blamed for sports betting ads that are beyond its reach.

Persons: David Highhill, Alex Riethmiller, We've, Highhill, “, Jeff Miller, ” Highhill, sportsbooks, Bill Miller, ”, we're, Keith Whyte Organizations: CITY, NFL, Super Bowl, ” League, The Kansas City Chiefs, San Francisco 49ers, New Jersey, U.S, Supreme, D.C, American Gaming Association, Fox, Raiders, National Council Locations: N.J, Las Vegas, The, New, Washington

☆ Online sports betting stocks are primed for a big 2024 as fans ready for the Super Bowl
▼ + stars: | 2024-01-28 | by ( Brian Evans | ) www.cnbc.com time to read: +9 min

3 market share position," said Jeff Stantial, director of gaming and leisure research at Stifel. DraftKings stock tripled in 2023 and has already gained nearly 10% in 2024. 'Buying' market share The remaining market share is up for grabs and fluctuates among the smaller players. Stantial expects ESPN Bet has the edge over BetMGM, but says both sportsbooks remain tightly contested for a larger slice of market share. ESPN Bet has been running promotions that include $150 of free bets and $1,000 deposit match upon signing up, according to JPMorgan analyst Joseph Greff.

Persons: Jeff Stantial, Bank of America's Shaun Kelley, You've, Stantial, Joseph Greff, Greff, Walt Disney, Barstool, FactSet, JPMorgan's Greff, Bet365, Clark Lampen, Lampen Organizations: DraftKings, Penn Entertainment, ESPN Bet, MGM Resorts International, Baltimore Ravens, Kansas City Chiefs, San Francisco 49ers, Detroit Lions, New York Stock Exchange, NCAA, Bank of America's, Euronext Dublin, BetMGM, ESPN Bet's, Professional, Amateur Sports Protection, ESPN BET, ESPN, Walt, Barstool Sports, Sportico, Penn, MGM Locations: U.S, North Carolina, Ireland, WynnBet, BetMGM, PENN, York

FALLS CHURCH, Va. (AP) — Legislation that would allow a referendum on a casino in the northern Virginia suburbs of the nation’s capital cleared a hurdle Wednesday when a state Senate committee voted to advance the bill. Another bill that passed the committee Wednesday would allow Petersburg to hold a referendum on a casino in place of Richmond. Marsden said allowing a casino in northern Virginia provides geographic diversity and fairness. Legislative studies have also shown that a northern Virginia casino would generate more tax revenue than anywhere else. The Northern Virginia Chamber of Commerce supports the bill.

Persons: Glenn Youngkin, Sen, David Marsden, ” Marsden, Marsden Organizations: Senate, Committee, Delegates, Virginia Gov, Fairfax, Technology, Richmond, Northern, Northern Virginia Chamber of Commerce Locations: Va, Virginia, Fairfax County, Tysons, Bristol, Danville, Portsmouth, Norfolk, Petersburg, Richmond, Maryland, Potomac, Bethesda, Northern Virginia

☆ Sports betters are losing sportsbooks bets into the void
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSports betters are losing sportsbooks bets into the voidDanny Moses, Moses Ventures founder, joins 'Power Lunch' to discuss digital betters losing their winning bets on sportsbook.

Persons: Danny Moses, Moses Organizations: Moses Ventures

☆ DraftKings, FanDuel launch mobile sports betting in Vermont as industry keeps booming
▼ + stars: | 2024-01-11 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +2 min

FanDuel, DraftKings and other online gambling apps are displayed on a phone in San Francisco, on Sept. 26, 2022. Vermont launched mobile sports betting Thursday, becoming the latest state to jump into the booming industry. Phil Scott signed a bill in June authorizing mobile sports betting and announced in December that the state had selected DraftKings , FanDuel and Fanatics to operate its sportsbooks. With Vermont, sports betting is now live in 29 states and Washington, D.C., according to the American Gaming Association. With the addition of Vermont, the DraftKings sportsbook is now available in 26 states compared to 21 states for its rival FanDuel.

Persons: Phil Scott, FanDuel, Thomas DiNapoli, Sportsbook, DraftKings Organizations: Gov, D.C, American Gaming Association, North Carolina, NCAA, Addiction Services, Krejcik, Entertainment, CNBC PRO Locations: San Francisco, Vermont, Washington, North, . California, Georgia , Missouri, Oklahoma, New York, U.S

☆ How a culture of sports betting and fantasy gaming is emerging on college campuses
▼ + stars: | 2024-01-10 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +14 min

Noah, a 19-year-old who goes to college in Illinois, uses sports betting to keep up with his friends from high school. The expansion of legal sports betting in the US has fueled a widespread culture of gambling on college campuses, as savvy students find betting alternatives and workarounds for age limits and state restrictions. Many sports-loving college students like Marcus and Noah casually use fantasy gaming, sweepstakes, and betting to make and maintain friendships. BI spoke with seven college students and three researchers to learn more about what sports betting looks like on campuses. A culture of sports betting sustains friendshipsSince the expansion of legalization, sports betting and gaming have exploded on college campuses largely through word of mouth.

Persons: Marcus didn't, Marcus, Fliff, isn't, it's, — Marcus, they'd, Marcus isn't, Noah, Andrew, they've, Dr, Timothy Fong, Fong, Miles, Chris, hasn't, wasn't, he'd, that's, FanDuel, Jason Miyares, Fliff's, Cash, bettors, I'm, there's, It's, Jeffrey Derevensky, McGill, haven't, Derevensky Organizations: NFL, Business, Sports, ESPN Bet, Super, Sunday, Caesars, ESPN, Iowa State Locations: Virginia, Cancún, Mexico, Illinois, Venmo, Minnesota, California, New York , Florida , Maine, Michigan, Maryland, Florida, New York, Iowa

☆ From Sin City to Sports Central: How Las Vegas is betting big on a lucrative industry
▼ + stars: | 2023-11-19 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

But for many decades, the NFL and other leagues opposed having sport franchises in Las Vegas, most likely due to the city’s deeply rooted gambling industry. “Vegas fans tend to be sports fans, too, and sports have helped us expand the customer base that are willing to consider Las Vegas,” Hill said. And during the past two years, Las Vegas and other tourist-centric cities have benefitted from consumers’ post-pandemic splurges on experiences and travel versus goods. The Las Vegas Strip can be seen outside the lanai doors at Allegiant Stadium during a game on October 15, 2023, in Las Vegas, Nevada. Ethan Miller/Getty Images/FILEAs the pandemic wore on, construction continued on expanding the Las Vegas Convention Center as well as the Raiders’ Allegiant Stadium, among other projects.

Persons: ”, Andrew Woods, ” Woods, Woods, Roger Goodell —, ” Goodell, John Fisher, Steve Hill, ” Hill, Ethan Miller Organizations: Minneapolis CNN, Athletics, NCAA, NFL Pro Bowls, NBA, MLS, Center for Business, Economic Research, University of Nevada, Sunday’s, Las Vegas, Prix, UNLV’s Lee Business School, NFL, National Hockey League, Oakland Raiders, Major League Baseball, Oakland Athletics, Las Vegas Convention, Visitors Authority, UNLV, “ Entertainment Capital, Sports, Entertainment Capital, Las, Nevada Gaming Control, Getty, Las Vegas Convention Center, Raiders Locations: Minneapolis, Las Vegas, Vegas, Bellagio, Clark County , Nevada, Covid, United States, Las Vegas , Nevada

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