Sports betting is booming, but nothing new. It has been around for centuries, with the first recorded bet being placed on a horse race in 16th century England. However, sports betting has undergone something of a renaissance in recent years, thanks to the growth of online gambling platforms and the increasing popularity of sports such as football and basketball in countries across each continent. And this trend looks set to continue in 2022, with sports betting expected to boom globally. In 2022, it is estimated that sports betting will generate over $1 trillion in revenue. This is a staggering figure,…

While the company has been hemorrhaging cash for several years, Caesars sports betting is now expected to be generating a profit for the company by the fall of 2023. This according to their CEO, Tom Reeg . In a story reported on Yahoo! Finance, Caesars online gaming and sports betting lost over $550 million in just the first quarter of this year. But according to Reeg, the company has a plan. First up, they will cut their marketing spend, saving over $250 million. The second step in the recovery process is for Caesars to narrowly target their more “profitable customers”…

We’ve been following Seminole sports betting in Florida for several weeks. Recently, a Federal District Judge ruled the agreement between the two to be ‘invalid’, as it violated the state constitution and the Indian Gaming Regulatory Act. However, after the ruling the Tribe continued to accept online sports wagers. Initially, the Seminoles filed a “motion for stay pending appeal” with the Federal District Court while they continued to accept bets. However, the Judge in this case refused to grant them an appeal and rejected their argument that shutting down sports bets would cause the Tribe irreparably harm from the ‘loss…

It’s difficult to believe that the CEO of a major sports betting operator would say something to alienate his existing and potential customers. Yet, that’s exactly what Jason Robins did while speaking on the Canaccord Genuity 2021 Digital Gaming Summit held virtually last week. His statements came amidst conversations concerning how operators could be profitable in New York state with a 51% tax rate, so I guess now we know how DraftKings hopes to make money in that market! Hello my friends! And welcome to This Week in Gambling, where we’re following an interesting bit of news. The CEO of…

Just days after a Federal Judge ruled the Seminoles sports betting deal with the state of Florida was “invalid”, the tribe has announced they will file an appeal. Judge Friedrich concluded that the deal violates the Indian Gaming Regulatory Act, in that it allowed mobile bets to be accepted from anywhere in the state and not just on Tribal lands. That’s a decision which could have far reaching consequences for online gambling across America. Despite this decision, the Seminoles continued to accept sports wagers and filed a “motion for stay pending appeal” in which they allege that the ruling would…

It wasn’t too long ago that Disney fought sports betting expansion in Florida with millions of dollars in negative ad campaigns. However, now that they have clearly lost that battle, the company is considering an “aggressive” approach to gambling via ESPN. Disney Corporation purchased ESPN back in 1996, back when no one would have ever thought legal and regulated betting on sports would have been possible. But what a difference 20 years can make! Now their CEO, Bob Chapek, has admitted the company is pushing forward in the midst of American sports betting expansion. The goal is to partner with…