States See Record Sports Betting Handle and Regulatory Moves

The Cashout Overview

The Cashout: Many States Are Reporting Record Sports Betting Handle In October

Gambling news roundup: NCAA backtracks on allowing betting on pro sports and bans Temple player based on betting allegations; Maryland sends cease-and-desist to VGW again.

Nov 23, 2025

TCL provides market analysis in the US gambling space in The Cashout every weekend to paid subscribers, along with a news roundup for free subscribers.

Sports betting handle hits new highs in a lot of states, online casino sets records, and Kalshi trading volume continues to trend down.

But first, the gambling news roundup:

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Gambling News Roundup

NCAA Betting Discipline and Policy Reversal

NCAA: Ex-Temple men’s basketball player bet against own team: “A former Temple men’s basketball player placed dozens of bets on Owls games over two seasons, including wagering against his own team, the NCAA announced Friday. Former Temple guard Hysier Miller was deemed permanently ineligible after the NCAA found he placed 42 bets totaling $473 on parlays that included 23 Owls games during the 2022-23 and 2023-24 seasons. Three of the bets were against his team, according to the NCAA. Multiple sources familiar with the matter told ESPN that those bets were parlays involving a Nov. 22, 2023 game against Ole Miss and a Feb. 8, 2024 game against Memphis. Temple lost both games.”

Attorney for ex-Temple basketball player responds after NCAA says athlete bet against his own team: “Attorney Jason Balogna provided a statement, asserting that Miller’s activities did not include any point-shaving of his own team.”

“The key takeaway here is the NCAA found no evidence that Hysier Miller shaved points. The NCAA conducted a long and thorough investigation before reaching that conclusion. Hysier gave them full access to his cellphone and bank account, and he answered every question they asked him,” Balogna said.

DI schools rescind betting rules change; Ban on pro sports betting remains in place: “After a procedural 30-day period, two-thirds of Division I member schools have voted to rescind a previously approved rule change that would have allowed student-athletes and athletics department staff members to legally participate in sports betting on professional sports only. Because sports betting rules are common legislation, the ban on all forms of betting — for sports in which the NCAA sponsors a championship — will remain in place for all three NCAA divisions.”

Maryland’s Action Against VGW and Social Casinos

Maryland tells Chumba Casino, Luckyland Slots to cease and desist: “This is a Notice from the Maryland Lottery and Gaming Control Commission (‘Commission’) to Chumba Casino to immediately cease and desist conducting all unauthorized online gaming activity in Maryland. …”

“We have reviewed your site and see that Chumba Casino is offering online poker, casino gaming, and sweepstakes that are available to individuals who are physically present in Maryland. These offerings contain the elements of gaming: consideration, chance and prize; in other words, it is gaming. Under Maryland law, gaming is illegal unless it is expressly authorized. The gaming that is being offered through your site is not legally authorized in Maryland.”

“Please acknowledge and respond to this Notice, by email, within 10 days from the date of this letter. In your response, please confirm that Chumba Casino will cease offering any online poker, casino game, or sweepstakes in Maryland, and provide the date by which its operations will cease, along with its wind down plan.”

A similar letter was sent to Luckyland, which is also operated by VGW. This is the second time Maryland has sent a C&D to VGW… the MLGCC also sent a notice in March.

Prediction Markets and Kalshi

My latest roundup on all things prediction markets: Believe it or not, not all the news is in this newsletter. There is even more.

Event Horizon

The Closing Bell: TechCrunch Reports Kalshi Raised $1B

Kalshi reportedly raised again in an increasingly competitive landscape for prediction markets. Per TechCrunch…

2 days ago · Dustin Gouker

VGW’s LuckyLand Strategy

VGW Confirms ‘Vibrant New’ LuckyLand Casino While ‘Considering Its Options’ For LuckyLand Slots: “As it debuts its new platform, it’s also weighing its options for the future of LuckyLand Slots, one of its core three sweeps casinos that’s helped it become the industry leader — and one that shares the same brand name as its soon-to-launch fourth site. That’s according to a VGW spokesperson, who discussed with Sweepsy the company’s excitement for launching the “vibrant new” LuckyLand Casino while also “considering its options” for the future of LuckyLand Slots.”

Mob-Linked Gambling Case and Possible Plea Deals

Defendants in mob-linked gambling case are discussing plea deals, feds say: “Multiple defendants charged in connection with the mob-linked gambling case that ensnared current and former NBA stars are discussing plea deals with federal prosecutors, according to court documents. … Among the defendants in the cases are members and associates of four major Mafia crime families, as well as Miami Heat guard Terry Rozier, Portland Trail Blazers head coach Chauncey Billups and ex-NBA player Damon Jones. On Thursday, federal prosecutors told U.S. District Judge Ramon Reyes, who is presiding over the poker case, that multiple defendants may be discussing possible plea deals.”

Regulators Evaluating Betting Markets

Gaming Commissions Actively Evaluating Markets, Asking For League Suggestions to Avoid Further Sports Betting Manipulation: “Following several sports betting scandals, state gaming commissions are actively monitoring their sports betting markets and may take impactful action to eliminate events from their catalogues vulnerable to corruption. Sports Betting Dime reached out to a number of gaming commissions to see if action is being taken in the wake of two sports betting scandals in which professional athletes manipulated event outcomes. Most gaming commission spokespersons reported to Sports Betting Dime that the regulatory bodies were actively evaluating their markets, while several also said they were open to suggestions from professional sports leagues to deal with potential vulnerabilities and may eliminate betting markets that pose a threat to event integrity.”

Nevada’s $7.8 Million Caesars Fine

Nevada regulators approve $7.8 million Caesars fine for Bowyer violations as frustration grows: “Members of the Nevada Gaming Commission had several names for convicted bookie Mathew Bowyer as they considered and ultimately approved a $7.8 million anti-money laundering fine against Caesars Entertainment for its involvement with Bowyer Thursday. He was referred to as a ‘bad actor,’ an ‘AML wrecking ball’ and even a ‘semi-wannabe gangster’ at one point. Regardless, he is quickly running up the list of the most infamous figures in the history of Las Vegas. … Caesars Chairman Gary Carano made a rare public appearance before the commission Thursday.”

“On behalf of Caesars, our employees, our entire leadership team, our board of directors, I sincerely apologize for our role in the Bowyer incident and the impact it had on the gaming industry of the state of Nevada,” Carano said.

New Retail Sportsbooks for Caesars and William Hill

Caesars Sportsbook, William Hill both celebrate grand openings of brand-new sportsbooks:

Caesars Sportsbook at Monmouth Park: “Caesars Sportsbook and Monmouth Park celebrated the grand opening of a world-class trackside Caesars Sportsbook at Monmouth Park in Oceanport, New Jersey. Local dignitaries joined Caesars Entertainment and Monmouth Park leadership to commemorate the opening of the state-of-the-art sportsbook, bar and restaurant with a ceremonial ribbon-cutting event. The all-new standalone venue adjacent to the Monmouth Park clubhouse features 16,000 square feet of indoor and outdoor sports viewing space, including unmatched sweeping views of the historic racetrack.”

William Hill Sportsbook Now Open at Virgin Hotels Las Vegas: “Virgin Hotels Las Vegas, Curio Collection by Hilton, and William Hill announced the grand opening of the resort’s newly revamped sportsbook following regulatory approval from the Nevada Gaming Commission. The sportsbook marked its official debut with a special ribbon-cutting ceremony on Thursday, Nov. 20, led by Cliff Atkinson, President of Virgin Hotels Las Vegas and representatives from William Hill and Caesars Entertainment.”

Sports Betting in Flux and Prediction Markets

Sports Betting in Flux As Gambling Giants Enter Prediction Markets: “The U.S. sports betting industry is at a crossroads. The country’s two biggest sportsbooks, FanDuel and DraftKings, are charting a separate path from the American Gaming Association—one of the most prominent industry advocacy groups—even as both sides continue to push for legalized, regulated sports betting nationwide.”

Industry Commentary and Podcasts

Straight to the Point’s latest podcast with Discerning Capital’s Davis Catlin:

Straight to the Point

Episode 71: Gambling Industry Missteps and Misplaced Optimism with Davis Catlin

“This is a marketing industry. The app just has to be good enough — the real battle is convincing people why your brand is the one they should use…”

Listen now

a day ago · Steve Ruddock

State-Level Regulatory and Market Developments

Encore casino says online gambling bill is a ‘bad bet’ for Mass.: “Encore Boston Harbor, in a letter to the state Legislature last week, blasted a proposed bill that would make online gambling legal in the state, saying it would ‘cannibalize’ the brick-and-mortar casinos. The issue came to a head at the Joint Committee on Economic Development and Emerging Technologies’ first hearing on the bill on Nov. 13.”

BetMGM becomes latest sports betting company fined by Colorado: “BetMGM, a sports-betting company operating in Colorado, is the latest company to be fined for accepting proposition bets on individual college athletes’ performances during games. BetMGM agreed to a $50,000 fine although the company will only have to pay half that amount if it avoids any more violations of Colorado sports betting rules for the next two years.”

Can Resorts World Hit Its Ambitious New York Revenue Target?: “Resorts World turned heads when it projected $4 billion in gross gaming revenue as a “high” case scenario for 2031 in its executive summary to the New York State Gaming Commission’s Gaming Floor Location Board last month. It dropped jaws with a willingness to pay 56% taxes on slot revenue and 30% on table games. If Resorts World can deliver those numbers, the state would receive $1.7 billion in tax revenue. The billion(s)-dollar question is: Can it deliver those numbers?”

New Products and International Expansion

Sweepmate launches to blend thrill of sweepstakes, fantasy sports and trading: “Sweepmate, a new real-money, pool-based gaming platform, has launched to provide a ‘sweepstake with a twist’ for sport fans in the UK. Sweepmate, available on iOS and Android, blends the familiarity of a traditional sweepstake, the excitement of fantasy sports and the strategy of trading to give players a unique way to engage with events. The app has launched with Premier League predictions, with further events and sports planned in the coming months. On Sweepmate, the Premier League table resets every single week and the standing can be seen live in-app, with data provided by leading data providers Sportradar.”

The UAE’s next attraction: gambling.

Subscriber and Publisher Notes

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