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Missouri's Online Sports Betting Rollout Among Nation's Lengthiest
November 26th, 20255 mins

Missouri's Online Sports Betting Rollout Among Nation's Lengthiest

Missouri's sports betting launch timelineMissouri’s sports betting launch took nearly 13 months, but eight major sportsbooks will finally go live statewide on Dec. 1.Missouri sports bettors will have one of the longest wait times from legalization to first bet of any U.S. jurisdiction to approve legal sports betting since 2018.Key takeaways from Missouri's rolloutMissouri bettors waited nearly 13 months from approval to launch, the sixth-longest rollout among legal U.S. betting markets.A denied emergency regulation request pushed launch from June to December, costing the state significant football-season tax revenue.Eight major sportsbooks, including FanDuel, DraftKings, Caesars, and bet365, will finally go live statewide Dec. 1.How Missouri compares to other statesMissouri voters approved sports betting in November 2024. With legal betting beginning Dec. 1, bettors will have waited nearly 13 months from legalization to first bet.The Show-Me State ranks sixth among the 23 states (and Washington DC) in wait time to begin statewide mobile sports betting after approval, ahead of only Maryland (24 months), Maine (18 months), Tennessee (18 months), Louisiana (14 months), and Michigan.Missouri’s wait from the Nov. 5 ballot measure vote to the Dec. 1 launch will be 391 days, slightly quicker than Michigan’s 400-day wait. Missouri slots just ahead of Ohio, which waited 375 days from approval to first online bet.The national median average was nine months.Neighboring Kansas and Iowa had the two quickest turnarounds of any jurisdictions at 81 days and 95 days, respectively. They were the only two jurisdictions with a launch timeline under four months.These timelines from approval, either by constitutional ballot measure or legislation, do not include states that had previously legalized sports betting before the 2018 Supreme Court ruling that struck down the federal wagering ban.Missouri's sports betting delay explainedLike all other jurisdictions that legalized sportsbooks, Missouri had to approve ensuing sports betting regulations following legalization. This covered key aspects including license eligibility, financial disclosures, and a host of other regulatory requirements.Missouri regulators had hoped the process would take eight months. External forces pushed it to nearly 13.The Missouri Gaming Commission originally targeted a June 30 launch, but that required approval for “emergency” regulations from the Secretary of State’s Office. Denny Hoskins, elected to the office on the same ballot that approved sports betting, denied the request, determining sports betting authorization didn’t reach the emergency threshold.This delayed implementation by five months. Missouri bettors missed the full 2025 regular and MLB postseasons and will miss essentially all of this year’s college football regular season.The Show-Me State will also miss out on most regular season games for the NFL, the nation’s most wagered-upon sports league.Revenue impact of the delayed launchMissouri sports betting projects to take in more than $400 million in handle during December 2025. Assuming roughly a 10% operator hold ($40 million) and the mandated 10% tax on gross gaming revenue, that would mean about $4 million, or 1% of the overall handle.A launch before football season’s September kickoff would have presumably quadrupled that tax revenue, a factor regulators argued when pushing for the emergency regulations.Missouri sportsbook options at launchAfter the long postponement, Missouri sports bettors will have in-state access to sportsbooks that accept more than 95% of the national handle.FanDuel and DraftKings, the two U.S. revenue market-share leaders, are set to go live Dec. 1. Other major national brands including Fanatics, Caesars, BetMGM, and bet365 are also set to go live on the state’s universal go-live date.PENN Entertainment’s theScore Bet, the company’s replacement for ESPN BET, will also start taking bets in Missouri Dec. 1 in conjunction with its nationwide rebranding. Circa Sportsbook, an operator known for high betting limits and its “sharp” customer base, will also launch that day.Missouri will offer eight live mobile books. Underdog, which had earned a mobile sportsbook license earlier this year, announced earlier this month it no longer planned to offer real money sports betting.

Senate Committee Seeks Information About MLB Gambling Scandal
November 26th, 20253 mins

Senate Committee Seeks Information About MLB Gambling Scandal

Senate Inquiry Follows MLB Gambling ScandalIn light of the recent gambling-related issues facing MLB, the U.S. government is getting involved.Sen. Ted Cruz (R) and Sen. Maria Cantwell (D) want documents and details from the league about the recent betting scandal. Authorities arrested two Cleveland Guardians pitchers for gambling-related crimes.The two federal lawmakers head the Senate Commerce Committee. In the wake of the arrests, the committee recently launched a probe into league integrity and gambling issues. Committee members are now seeking information from the league, major sportsbooks, and federal regulators.Cruz is the committee’s ranking member and has warned of “a dangerous erosion of competitive integrity” since a virtual federal ban on sports betting outside of Nevada was overturned by the Supreme Court in 2018.Growing Investigation Across Major SportsThe committee had already been looking into the gambling controversy surrounding the NBA. In October, Miami Heat guard point guard Terry Rozier and former NBA journeyman and Cleveland Cavaliers assistant coach Damon Jones were arrested for allegedly being involved in a stats-rigging scheme to benefit gamblers.The committee was already demanding answers from the NBA when the MLB controversy erupted. Federal prosecutors announced on Sunday that Guardians pitchers Luis Ortiz and Emmanuel Clase had been implicated in a similar scheme involving prop betting on individual pitches.“They defrauded the online betting platforms where the bets were placed,” U.S. Attorney with the Eastern District of New York Joseph Nocella Jr said. “And they betrayed America’s pastime. Integrity, honesty, and fair play are part of the DNA of professional sports. When corruption infiltrates the sport, it brings disgrace not only to the participants, but damages the public trust in an institution that is vital and dear to all of us.”Infamous ‘Black Sox’ Comparison And Policy QuestionsLast week, Cruz and Committee Chair Cantwell sent a letter to MLB Commissioner Rob Manfred requesting numerous documents, including policies, disciplinary records, and communications related to sports betting enforcement.The letter spelled out significant concerns the committee had regarding integrity in sports. Moreover, the lawmakers even referenced the 1919 World Series Chicago “Black Sox” scandal.“Major League Baseball (MLB), and American sports generally, are facing a new integrity crisis,” senators said in the letter. “The integrity of the game is paramount. MLB has every interest in ensuring baseball is free from influence and manipulation.”Along with asking for documents, the senators also listed several questions for Manfred. They were concerned about cell phone use during games, how the league could revise gambling rules and procedures, and more.MLB And Sportsbooks Respond On Prop BettingIn the wake of the controversy, MLB reached agreements with the league’s sports betting partners. Sportsbooks will put limits on pitching prop bets and disallow them being used in parlay bets.

Las Vegas Tourism Decline Reaches 10th Consecutive Month
November 26th, 20254 mins

Las Vegas Tourism Decline Reaches 10th Consecutive Month

Las Vegas Tourism Decline Reaches 10th Consecutive MonthLas Vegas' tourism decline is not over yet.The City of Lights welcomed about 3.41 million visitors last month. While this sounds like a lot, it's actually a bit lower than last year. But it's better compared to the steep declines we saw this past summer and September.Sin City saw around 3.41 million visitors last month.This amounts to a drop of 155,000 visitors compared to last year. The good news is that it's not as bad as it was earlier this year. For example, September saw only about 3.09 million visitors, which was a much bigger drop of 8.8%.So, even though October's numbers are down, it's a step in the right direction.Plus, the Las Vegas Grand Prix and the long Thanksgiving Day weekend are expected to boost the numbers even more this month, so we could see another bump when the November figures are released.Tourism Decline in Las Vegas Improves Slightly Over SummerOver the summer, Las Vegas felt "overpriced," leading to fewer visitors.There was less demand from international travelers, fewer midweek stays, and a decline in conventions. However, October showed signs of improvement. More people attended conventions, especially at big events like Oracle CloudWorld, which drew about 30,000. This helped boost visitor numbers during the week.Las Vegas has seen a big drop in visitors from California, Canada, and the Midwest. California, which usually sends the most visitors, saw a large decline, with travel on the I-15 highway down by 4.3% in June.Canadian visitors have also decreased due to economic and political issues. Although visits from the Midwest have dipped too, the drop isn't as steep.Even though October showed some improvement, the Las Vegas tourism decline stretched into double digits. October marked the 10th month in a row with fewer visitors compared to the previous year.Interestingly, even with fewer visitors, casinos are making more money. How? They're getting more from each visitor, attracting high-value guests, and having a favorable run at the tables, especially on the Strip where gaming revenue increased by 8.2%.Baccarat always appears to be a favorite on the strip, no matter what tourism numbers say.The Las Vegas Tourism Decline Appears to be EndingOverall, Las Vegas is not meeting its visitor goals for the year, but this might change soon. Las Vegas is trying to bounce back from sharp declines, focusing on attracting visitors with exciting events and better prices.Experts from the University of Nevada, Las Vegas, predict the city will have over 40 million visitors next year. This is a million more than this year, yet still not as high as the 42 million visitors before the pandemic.“Absent a new wave of a coronavirus variant, a major financial crisis leading to a significant recession, assuming the war in Ukraine will not widen in scale, and the financial system remains stable, the southern Nevada economy and local tourism sector will experience a mild contraction in much economic activity in the rest of 2025 and in 2026 and 2027” the report said.Some of the resorts are doing its part. The MGM recently revealed $300 million worth of room renovations. Caesars even tried to improve visitation by announcing a big sale at its properties.By the end of October, Las Vegas recorded only a little over 30 million visitors; it did show some improvement, but there's still a long way to go to reach previous numbers.Even though things are still challenging, these efforts could help improve the situation for Las Vegas in the future.

Sports betting scandals put Congress in the spotlight but reforms face long odds
November 26th, 20257 mins

Sports betting scandals put Congress in the spotlight but reforms face long odds

Lawmakers seize on sports betting scandalsSome federal lawmakers are seizing on a wave of high-profile sports betting scandals to demand tougher regulations, but industry lobbyists say the uproar is unlikely to produce meaningful national reform in the US.​From hearings and information demands to renewed pitches for the SAFE Bet Act, members of Congress are using cases involving MLB and NBA figures to argue that state-by-state oversight has left dangerous gaps in consumer protection and game integrity.But operators and lobbyists counter that regulated books have helped uncover the misconduct now driving the headlines. They also see Washington’s partisan dysfunction as a major obstacle to any serious move toward a national sports betting framework.“You have a situation where there is interest in the topic and will remain a lot of interest,” said Brandt Iden, vice president of government affairs at Fanatics Betting & Gaming and a former state representative in Michigan.“Congress will do its job and there will be a committee hearing and air things out. What I hope is this is not a situation where it’s finger-pointing and is instead more a collaborative discussion on how it works. The reality is these things are uncovered because of the regulated market, and together it becomes an education process.”Are more sports betting hearings coming?In December 2024, the Senate Judiciary Committee held a hearing on sports betting that lasted approximately two hours and ventured off track into partisan arguments. Senator Dick Durbin, committee chairman at the time, said it was just the beginning of discussions on sports betting, but the committee did not hold another hearing.Following the recent scandals, however, legislators are calling for information from leagues. The US Senate Committee on Commerce, Science and Transportation sent a letter to MLB Commissioner Rob Manfred with six questions. The committee set a 5 December deadline for response.“MLB has every interest in ensuring baseball is free from influence and manipulation,” the letter reads. “But in light of these recent developments, MLB must clearly demonstrate how it is meeting its responsibility to safeguard America’s pastime.”The MLB plans to cooperate in the questioning around Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz, who are accused of manipulating pitches to enable sports betting profits.The same committee and members of the House Committee on Energy and Commerce also requested answers from NBA Commissioner Adam Silver. NBA staff members were reportedly on Capitol Hill earlier this month.The House committee is also looking into the NCAA, which has had its own slew of sports betting scandals.Could discussions highlight benefits of the regulated market?The sports betting scandals have caused lawmakers, as well as the general public, to question the integrity of sports and blame – at least in part – the widespread legalisation of sports betting. Many, including Durbin, have specifically called out the potential for manipulation of prop bets. Recently, major sportsbooks agreed at MLB’s urging to place a $200 cap on pitch-level microbets.Some state regulatory agencies, including the Michigan Gaming Control Board, are reassessing the market and what bets should be available. MGCB Executive Director Henry Williams said the integrity of the industry requires “proactive safeguards designed to detect and deter misconduct before it occurs”.Still, Williams stressed his belief that the regulatory system in place “prioritises transparency, accountability and consumer protection”.Former New Jersey governor Chris Christie, who was the lead plaintiff in the 2018 PASPA case, wrote in an essay for The New York Times that legal sports betting strengthens integrity.Iden said any discussions with lawmakers will likely be positive, because it will help them understand that the increase in legal sports betting and illegal activity is not the correlation it might appear to be.“Too many lawmakers don’t understand how it works. It’s not a negative, just a fact,” Iden said, explaining sports betting is not a topic national lawmakers prioritise. “They want to be involved. They see headlines that there might be something there. We’ll see some committee hearings where leagues get up and provide public testimony.“It’s a regulated system that works and it will likely happen again. If athletes continue to commit crimes, they’ll be uncovered. Legal sports betting is something that didn’t exist, and now it exists, and we’re uncovering nefarious activity that already existed.”National framework unlikely to moveLawmakers on Capitol Hill have filed numerous gambling-related bills over the past several years, but Congress has shown little interest in taking any up. That includes the SAFE Bet Act, first introduced last year by two Democrats, Paul Tonko in the House and Richard Blumenthal in the Senate. The pair held an event this month highlighting the human impact of sports betting.“In order to truly address this rising crisis, the federal government must act to establish minimum safety standards. I’ll continue to highlight the importance of this issue to my colleagues and push for this common-sense legislation,” Tonko said in a recent statement to iGB.State lawmakers and regulators are in a better position to alter existing laws and regulations. Ohio Governor Mike DeWine, who signed the law legalising sports betting in the Buckeye State, recently expressed regret about it to the Associated Press. DeWine also said the recent limits agreed to on MLB microbets do not go far enough. While he knows the votes to repeal sports betting in Ohio do not exist, he said he would sign a bill sent to him to do so. Lawmakers have filed bills in Maryland and Vermont to repeal their laws, but they did not advance.One reason industry stakeholders are doubtful anything moves at a nationwide level is the divisive partisanship in Washington. When the initial NBA scandal broke last month, Congress was in a record-long shutdown.“We have to put into perspective that we have a Congress that is basically not functional, and it’s not even functional when they have a government that’s funded,” one industry source told iGB. “There will be some congressional discussions. What that leads to in terms of federal solution, I think it’s unlikely in the near term.”

AGA Updates Best Practices Guide for Anti-Money Laundering Compliance
November 26th, 20252 mins

AGA Updates Best Practices Guide for Anti-Money Laundering Compliance

American Gaming Association Updates AML Best Practices GuidePress ReleaseAmerican Gaming Association Releases Updates to its Best Practices Guide for Anti-Money Laundering ComplianceSeptember 29, 2025Industry Resource for Strengthening ComplianceWASHINGTON, D.C. — The American Gaming Association (AGA) today released updates to its Best Practices for Anti-Money Laundering (AML) Compliance Guide, a blueprint for the gaming industry to strengthen compliance programs amid evolving laws, technologies, and emerging criminal activity.“Maintaining up-to-date AML policies is essential to safeguarding the gaming industry’s operations, employees, and customers – and to protecting the integrity of the U.S. financial system,” said Alex Costello, Vice President of Government Relations at the American Gaming Association. “We encourage all casino operators and suppliers to use this resource to continually refine their practices as both the industry and threat environment change.”Key Updates in the 2025 GuideEnhanced guidance for Know Your Customer (KYC) protocols and Suspicious Activity Report (SAR) filingsNew risk assessment section aligned with regulatory expectationsExpanded focus on online activity, digital wallets, and cryptocurrencyBroader coverage of fraud riskNew typologies and red flags to help staff identify and deter malicious activityDedicated section addressing human trafficking risks linked to money launderingContext: Growth of the U.S. Gaming MarketSince the last update in 2022, the US now has over 1,000 land-based casinos, ten states have legalized sports betting, and one has legalized iGaming – expansion that has only strengthened the industry’s commitment to strong compliance.The legal state-regulated US gaming industry is recognized as a leader in AML compliance – working closely with regulators, law enforcement, and compliance experts to continually raise the bar as new technologies, regulations, and risks develop.

NYRA Says Fixed-Odds Betting Could Bring in $30m in New York Taxes
November 26th, 20253 mins

NYRA Says Fixed-Odds Betting Could Bring in $30m in New York Taxes

NYRA Backs Fixed-Odds Betting for Tax BoostNYRA has told State Assembly committees that fixed-odds betting will generate $30m.Boost neededThe New York Racing Association (NYRA) has made it clear to State Assembly committees that the horseracing body fully backs the introduction of fixed-odds betting and the major tax revenue boost it would bring.NYRA testified in support of fixed-odds to the New York State Assembly Standing Committees on Racing and Wagering (R&W) and Economic Development, Job Creation, Commerce, and Industry (EDJC) on Friday.According to reports, a NYRA official said the industry could generate nearly $30m extra tax dollars for the state, while also boosting the appeal of a sport fighting to stay financially competitive in New York.Huge opportunityNYRA Vice President of Government Affairs Jeffrey Cannizzo told the R&W committee that his body sees fixed-odds betting “as an opportunity to drive new revenue to our industry, to the state, and down to the shareholders and stakeholders, which are horsemen, breeders, and owners.”Cannizzo pointed to New York’s market leadership in mobile sports betting, where online sportsbooks are, according to Covers: “seeing more wagering in two weeks than the entirety of U.S. thoroughbred horse racing is in an entire month.”“We see this as a huge opportunity to provide them our content on their platforms,” the NYRA exec told the committee.NYRA, which operates Aqueduct, Belmont Park, and Saratoga Race Course, also pointed to Kentucky’s gambling gambit and how the extra revenue earned there is being injected back into the sport, leaving the New York horse racing industry under pressure to compete.Kentucky pressureNYRA Senior Vice President of Racing Operations Andrew Offerman told the R&W committee Kentucky’s adoption of “historic horse racing, slot machine-like games”…“has dramatically changed (Kentucky’s) purse structure.”Offerman added that the extra tax revenue has “put incredible competitive pressure on New York’s horsemen (and) our racetracks to continue to generate quality racing that competes with Kentucky.”While fixed-odds legislation exists in the New York State Senate, bill S8433 hasn’t gone anywhere since its introduction in the summer.

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'Big Beautiful Bill' Tax Change Worries Horseplayers
November 26th, 20252 mins

'Big Beautiful Bill' Tax Change Worries Horseplayers

Report: 'Big Beautiful Bill' Contains Troubling Tax On GamblingThe amendment could hurt the sport of horse racing, according to NTRA CEO Tom Rooney.Background And Key DetailsAn amendment in the One Big Beautiful Bill Act, which passed the Senate on Tuesday, would alter gambling tax rules in a way that makes it harder to profit, reports Newsweek.The new amendment limits the amount gamblers are able to deduct to 90 percent of losses; thus, even if a gambler breaks even by winning $100,000 and losing $100,000 in a year, they would still be required to pay taxes on $10,000.Current regulations allow a gambler to deduct 100 percent of losses, provided that number does not exceed their winnings.Concerns From The Gambling And Racing IndustryThe bill could push professional gamblers to offshore wagering accounts, professionals warned Newsweek.“It is a big deal,” Tom Rooney, CEO and president of the National Thoroughbred Racing Association (NTRA), told the Thoroughbred Daily News. "We've let it be known to our friends on the hill that our sport is generated by the people that play the horses. And, if they're dissuaded in any way to do that, it's going to hurt our sport."The next step is that the bill now returns to the House, which passed its own version, not containing the gambling tax rule, in May.Reaction From Professional GamblersProfessional poker player Phil Galfond took to social media to discuss the issue: "This is really bad. Whether you're a poker player, Daily fantasy sports player, a sports better, any kind of gambler – professional or recreational – but especially professional. And even if you are operator in one of these areas. It's quite scary."

Americans Visiting Casinos in Record Numbers
November 26th, 20254 mins

Americans Visiting Casinos in Record Numbers

Americans Visiting Casinos in Record NumbersDespite a gambling scandal that has rocked the NBA and called into question the integrity of professional sports, the American Gaming Association (AGA) reports that Americans’ attitudes toward legal gambling have never been more favorable.The AGA’s annual consumer survey, conducted by research firm Kantar between July 22 through August 8, reports that a record number of US residents are visiting casinos, and their opinions of the gaming properties are increasingly positive.Among the 2,000 people surveyed, the pollsters found that more than half of all American adults (57%) participated in some form of gambling in the past year. About 53% of the population, or approximately 134 million adults, visited a casino. Both marks are all-time highs.The probe concluded that nine in 10 find casinos to be acceptable for themselves or others, and more than six in 10 find gambling to be personally acceptable.These results underscore a sustainable foundation for the American gaming industry, reflecting strong consumer confidence in a state-regulated market as a safe and trusted form of entertainment,” said AGA President and CEO Bill Miller.The Kantar study came with a margin of error of +/-2%. The AGA represents the interests of the commercial and tribal gaming industries on the federal and state levels.Unprecedented GamblingIt was only a few decades ago that casinos were largely confined to Nevada, Atlantic City, and tribal casinos. Today, some form of legal gaming (casinos, racinos, iGaming, sports betting) is allowed in all but Georgia, Hawaii, South Carolina, and Utah. Georgia and South Carolina, however, do have state-run lotteries.Commercial or tribal casinos are operational in 43 states, sports betting is legal in 39 and Washington, DC, and iGaming is permitted in seven states.Americans are gambling and losing more than ever before. Commercial gaming revenue totaled $74 billion in 2024, marking the third straight year of record revenue. Tribal casinos won a record $43.9 billion in their latest fiscal year, the fourth straight year of record revenue for the 243 federally recognized tribes that operate tribal casinos in 29 states.The AGA findings suggest Americans aren’t upset at losing almost $120 billion a year gambling. The survey concluded that 77% of Americans believe the gaming industry has a positive impact on the overall US economy, 85% say casinos bring entertainment and dining options to areas that might not otherwise be able to attract them, and 86% think casinos increase tourism and bring conventions and meetings to regions.More than eight in 10 also agreed that the gaming industry produces jobs and investments in the US that cannot be outsourced to other countries, and 82% said casinos create good-paying jobs.Rosy ReportThe AGA-commissioned consumer survey reported a glowing picture of the commercial and tribal gaming markets. The study said 64% of Americans think the industry is committed to encouraging responsible gaming and combating problem play, and almost three in four said they have encountered responsible gaming messaging in the past year.The study was conducted before the NBA scandal was revealed by the FBI. How the federal prosecution of NBA players and coaches for allegedly participating in illegal insider sports betting and gambling schemes might impact consumer sentiments will be revealed later.

Federal judge in Nevada reverses key Kalshi prediction markets win
November 26th, 20255 mins

Federal judge in Nevada reverses key Kalshi prediction markets win

Federal judge reverses Kalshi’s Nevada court winFederal judge in Nevada reverses a key court win for Kalshi prediction marketsRuling in Nevada deepens a growing split in courts across the nation over whether prediction markets are financial products or bets.A federal judge in Nevada has overturned a key court win for prediction markets operator Kalshi, dissolving his preliminary injunction that had blocked state regulators from treating its sports event contracts as illegal gambling.US District Judge Andrew Gordon’s ruling on Tuesday rejects Kalshi’s argument that its Commodity Futures Trading Commission registration shields its markets from state oversight. He found that the company’s reading of the Commodities Exchange Act would pull sports betting nationwide into federal derivatives jurisdiction and “upset decades of federalism” in gaming law.Kalshi anticipates appealing the decision.Kalshi’s response and federal jurisdiction argument“We respectfully disagree with this decision,” a Kalshi spokesperson said in a statement Tuesday. “As other courts have recognised, Kalshi is a regulated, nationwide exchange for real-world events and it is subject to exclusive federal jurisdiction.“It’s very different from what state-regulated sportsbooks and casinos offer their customers. We are evaluating the decision and anticipate making an appeal to the Ninth Circuit.”Gordon initially granted Kalshi a preliminary injunction in April. During a lengthy hearing earlier this month, he hinted the reversal was likely.Tuesday’s decision sharpens a growing split among courts in Nevada, New Jersey, Maryland and California over whether prediction markets are bets or financial products, increasing the odds that the Supreme Court will ultimately have to decide how far federal commodities regulation can preempt state and tribal control of wagering.Nevada’s new Kalshi rulingNevada gaming regulators sent Kalshi a cease-and-desist order in March, causing Kalshi to seek an injunction to prevent regulatory action. Regulators argue Kalshi’s event trading products constitute gambling and aren’t permitted since it does not hold a Nevada gaming licence. Kalshi argues that its registration with the CFTC allows it to offer its event contracts nationwide.“Kalshi relies on a strained reading of the already convoluted Commodities Exchange Act in an attempt to evade state regulation,” Gordon’s order reads. “Kalshi’s interpretation would require all sports betting across the country to come within the jurisdiction of the CFTC rather than the states and Indian tribes. That interpretation upsets decades of federalism regarding gaming regulation, is contrary to Congress’ intent behind the CEA and cannot be sustained.”After Gordon’s initial Kalshi ruling this spring, he did not grant a similar injunction to Crypto.com in October. He questioned whether Kalshi’s products qualify as derivatives, as it argues under its CFTC regulation.“Kalshi has raised serious questions about how to properly interpret the statutory language, to divine congressional intent and to resolve the tension between what constitutes state-regulated gambling versus federally regulated derivatives,” Gordon’s order reads.Prediction markets litigation across multiple statesFollowing Gordon’s initial injunction ruling in April, a New Jersey judge also granted Kalshi a preliminary injunction. Thirty-four state attorneys general sent a brief to support New Jersey’s case against the company. In Maryland, a judge denied Kalshi’s request for an injunction against the state regulator. Both of those cases are under appeal.Earlier this month, Kalshi secured a significant win in California when a judge denied a motion from tribal parties seeking to prevent it from operating on tribal land. The judge ruled that the CFTC regulation means prediction markets do not qualify as bets and therefore do not violate the Indian Gaming Regulatory Act. In Wisconsin, the Ho-Chunk Nation has filed a similar lawsuit trying to prevent Kalshi from offering its products on tribal land.There are multiple additional court cases involving Kalshi ongoing, including in New York, Massachusetts and Ohio. A Massachusetts court will hold a hearing on 9 December.In addition, other states have sent cease-and-desist letters to Kalshi.Regulators warn sportsbooks on prediction marketsMeanwhile, state regulators are also warning sportsbook operators that their licences could be in jeopardy if they launch prediction market products. Those warnings came as operators including DraftKings and FanDuel prep prediction markets for launch.

Massachusetts smashes sports betting handle record in October
November 26th, 20253 mins

Massachusetts smashes sports betting handle record in October

Record October handle for Massachusetts sports bettingPlayer spending on sports betting in Massachusetts last month was 19.3% higher than in October 2024.Massachusetts has joined several other US states in reporting record sports betting figures for October, with the Bay State posting an all-time high monthly handle of $892.2 million.October’s total surpassed the prior record — $800.3 million set this September — by 11.5%. It was also 19.3% ahead of the $748.1 million wagered in October 2024, figures from the Massachusetts Gaming Commission showed.Players spent $879.2 million betting online and a further $12.6 million at retail sportsbooks.Revenue performance and holdAs for revenue, the October total amounted to $71.3 million. This comfortably surpassed the prior October by 47.6% and September’s haul by 36.3%. However, taxable gaming revenue fell some way short of the all-time high of $96.4 million, set in January 2025.Online wagers accounted for $70.7 million of all sports betting revenue during the month, with retail contributing just $598,901.Based on these figures, the monthly statewide hold for Massachusetts was 7.99%.Massachusetts was by no means the only state to see betting handle reach a record level in October. Pennsylvania also reported record betting activity, while betting revenue in Michigan hit an all-time high.No stopping DraftKings in MassachusettsTurning to operators, DraftKings remained the online market leader in its home state by some margin. Taking $38.5 million off $447.4 million in bets meant a hold of 8.61%.FanDuel was again the closest challenger, posting $17.3 million in revenue from a $237.3 million handle, resulting in a 7.38% hold. Fanatics moved up a place to third with $7.5 million off $82.4 million for a 9.1% hold.BetMGM took $3.6 million in revenue from handle of $55 million, which meant a hold of 6.55%. ESPN Bet followed with $2.1 million from $27.7 million for a 7.58% hold. Next was Caesars at $1.4 million off $25 million, meaning a 5.6% hold.Bally Bet was the only other online operator, taking $314,452 from $4.8 million for a 6.69% monthly hold.Land-based sportsbook performanceAs for the land-based market, Plainridge Park Casino narrowly took top spot with $306,328 in revenue. Based on a $5.4 million handle, this meant a hold of 5.72%. Encore Boston Harbor posted $292,573 off $6 million for a 4.91% hold, but MGM Springfield failed to post any revenue despite a $1.3 million handle.Massachusetts casino revenue exceeds $96 millionIn terms of casino gaming activity, total revenue for the month was $96.9 million. This beat last year by 2.3% and September by 1.3%.Gross gaming revenue from slots topped $71.7 million while table games revenue hit $25.1 million. Encore Boston Harbor was the market leader with $57.6 million in casino revenue, ahead of MGM with $24.1 million and Plainridge Park with $15.2 million.Looking to tax revenue, the total collected by the state in October was $42.1 million. This included $27.9 million from casino gaming and $14.2 million from sports betting.

US Online Casinos on Track for $1B Month as October Revenue Climbs
November 26th, 20252 mins

US Online Casinos on Track for $1B Month as October Revenue Climbs

US Online Casinos Break $874M In October 2025 RevenueOnline casino revenue reached $874.3 million in October, surpassing September’s total by 4.8%, or more than $40 million.Record revenue months in Michigan, New Jersey, and Pennsylvania fueled the monthly growth, signaling once again that the US iGaming market continues to expand as markets have yet to reach full maturity.September’s report does not include Rhode Island, which releases its online gambling figures one month later than other states.Big three online casino states hit new highs in OctoberOctober’s revenue growth leaned heavily on the top three iGaming markets: Michigan, New Jersey, and Pennsylvania. Combined, the three states generated $773.1 million in revenue, up nearly $40 million from September 2025 revenue. Each state set a new revenue record.StateOctober 2025September 2025% changeMichigan$261.7 million$259.1 million+1.00%New Jersey$260.3 million$243.1 million+7.08%Pennsylvania$251.1 million$231.2 million+8.61%West Virginia$34.6 million*$32.2 million+21.43%Connecticut$55.6 million$53.7 million+3.54%Delaware$11 million$9.9 million+11.11%Rhode IslandN/A$4.9 millionN/ATotal$874.3 million$834.1 million+4.82%Note: The West Virginia Lottery’s October figures included overlap with September and November. The October total shown in the table above reflects the sum of a daily average for the month.Delaware saw the largest month-over-month growth among the seven US online casino markets, posting an 11.1% revenue increase and breaking the $10 million mark.US online casinos eye historic revenue milestonePlayUSA estimates that US online casinos could generate more than $960 million in December, marking the first time online casinos would surpass $900 million in a single month:MonthRevenueSeptember$834.1 millionOctober$874.3 millionNovember (projected)$888.9 millionDecember (projected)$964.2 millionThe estimate is based on the month-to-month growth the industry experienced last year. If trends hold, November could produce nearly $890 million in revenue, and December could reach a staggering $964.2 billion.If revenue over the next two months follows last year’s trends and total win exceeds $960 million, the online gambling market is likely to break the $1 billion mark in 2026.

Legislative Update: Where Online Gambling Stands In 2025
November 26th, 20255 mins

Legislative Update: Where Online Gambling Stands In 2025

Legislation Update: Few Victories Amid Many FailuresLawmakers nationwide have been busy introducing and talking about sports betting, online casino and sweepstakes legislation this session.While a slew of online gambling bills have been introduced, few have made significant progress.Perhaps most surprising is the Hawaii sports betting legislation that is on the cusp of passage. Meanwhile, online casino legalization, sweepstakes prohibition bills and tax rate increases have seen little movement.Hawaii sports betting dark horseThe Aloha State is often overlooked as a possible candidate for legalization, and entering this legislative session was no different. Hawaii and Utah are the only two states with no forms of legal gambling.In prior sessions, sports betting legislation has only moved through a House committee. This year, Rep. Daniel Holt’s HB 1308 cruised through both chambers before hitting its only real snag.During House deliberations, lawmakers stripped tax rate and license fee figures to spur further discussion and potentially raise them. The Senate reinserted the initial rates before passage.Once back in the House, the legislators declined to concur with the amendment, which now awaits a conference committee. Gov. Josh Green has signaled he would likely sign the legislation into law.Can Nebraska make it all the way?In 2020, Nebraskans voted to have casino-style gaming in the Cornhusker State, and lawmakers are now looking to expand into online Nebraska sportsbooks. That started with a special session last year, with support from Gov. Jim Pillen.LB 20CA has passed one of three final hurdles in a vote by the full Nebraska Legislature. The final two votes need to clear 30 votes to send the amendment to the November ballot.However, there is another hurdle in its way. At least one lawmaker has pledged to filibuster the measure, which would bump up the required vote to 33 senators.More failures in familiar statesEach year, it seems the same states are on the verge of passing sports betting legislation. This year was more of the same, with the following states looking at some form of sports betting legalization:Is Alabama lottery and sports betting set back 20 years?Georgia sports betting sees no movement in 2025Minnesota’s agreement leads to early heartbreakMississippi online expansion waits another yearSouth Carolina falls flatTexas momentum stalls, slides backwardBig tax talk in US sports bettingMultiple governors came into this year looking to raise taxes on sports betting, including Maryland Gov. Wes Moore, New Jersey Gov. Phil Murphy and Ohio Gov. Mike DeWine. Ohio lawmakers declined to move along with their executive, while Moore and Murphy have seen their proposals challenged.Other efforts led to little movement, including in Indiana, Louisiana and Michigan.This month, North Carolina lawmakers introduced a budget that would double the state’s sportsbook tax rate to 36% from 18%. The Senate passed it, sending it on to the House for its budget negotiations.Online casino remains status quoMultiple online casino bills were filed across the US. Many were sidelined nearly as quickly as they were introduced, including the following:Indiana lawmakers put online casino on ice after discussionMaryland sees familiar argument against online casinoNew Hampshire sponsor tables bill despite some momentumVirginia wants a closer look at the industryWyoming says hold on a secondMore recently, Maine and Arkansas lawmakers punted their online casino efforts.Along with growing headwinds against the online gambling industry, a group of casino owners formed to oppose online casino expansion: the National Association Against iGaming.Sweepstakes legislation takes off, stalls outMultiple states nationwide introduced bills to prohibit or regulate the social sweepstakes industry. The proposed legislation came as many state regulators took action against the operators.The Mississippi Senate became the first chamber to pass such a measure. However, it fell apart after the House inserted online sports betting language that had already failed in the upper chamber.The Maryland Senate also passed similar legislation.Other states that had legislation introduced, including some ongoing discussions:ConnecticutFloridaLouisianaNevadaNew JerseyNew York

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