Designing promos to attract problem gamblers The Mayor and City Council of Baltimore have sued DraftKings, Inc. and Flutter Entertainment plc, the latter the parent company of FanDuel, for what they call “deceptive and unfair practices.” The lawsuit, filed by the law firm of DiCello Levitt, claims that the companies specifically target “vulnerable” gamblers. The… Read more »
Come on, man There are insane promotions and then there are absolutely mind-numbing, someone must have done it on a dare insane promotions. This past weekend was opening weekend for the NFL, the most wonderful time of the year for sportsbooks. Monday was also September 11, the 22nd anniversary of the terror attacks that killed… Read more »
Unexpected cancellation required decisions to be made No person or company is ever happy when they are the target of a lawsuit, but DraftKings is really mad about a class action lawsuit filed by one of its customers in January. In a memorandum filed in US District Court in Massachusetts, DraftKings’ lawyers called for the… Read more »
Since the U. S. Supreme Court rejected the Professional and Amateur Sports Protection Act (PASPA) in 2018, the world of sports betting has never been the same. With one huge ruling, the SCOTUS opened the door for each state to decide what to do with the issue of wagering on sports. After a huge rush… Read more »
If anyone ever tells you that something is a “sure thing,” do not believe them. There is no such thing as a sure thing. One DraftKings bettor found this out the hard way on Saturday when they lost $1.4 million on what seemed like a wager that could not lose. The Los Angeles Chargers played… Read more »
Bettors must be prepared for the worst When you bet on sports, you are taking on risk. No matter how much studying and preparation you made before you placed your bet, unexpected things happen in games that can throw everything off (and sometimes you just get it wrong). An unlucky bounce, a tremendous performance by… Read more »
Company plans to reimburse customers A number of DraftKings customers found out this weekend that their sportsbooks accounts were hacked and just that, but money was drained either from those accounts or the bank accounts connected to them. On Monday, the company said that customers lost about $300,000 in total, but DraftKings intends to make… Read more »
Since 2018, sports betting has taken off across the States of America. The ability to bet on sports, either online or live, has energized fans of all sports and helped the coffers of different states. Two states, however, are heading in two completely different directions regarding the dicey subject. California Maybe… The state of California… Read more »
Daily fantasy sports leader turned sports betting giant DraftKings may be one of the leaders in the US betting industry, but its stock has been sinking like a stone since the fall. On Monday, DraftKings’ share price closed below $11, its lowest point since the company went public in April 2020. Monday’s closing price was… Read more »
For those in the gaming industry, it is never a good idea to cross the regulatory agencies in the state they are located. In Nevada, that would be the powerful Nevada Gaming Control Board, who regulates the gaming industry with an iron hand. The New Jersey Department of Gaming Enforcement (DGE) has a similar reputation… Read more »
Bally’s is banking on the quality of its Bally Bet product being the draw when it enters the New York and Arizona online sports betting markets. While most operators try to jump into a new market on day one or at least as quickly as possible, Bally’s is taking its time. In last week’s earnings… Read more »
There are now seven players in the state-by-state online poker industry in the States of America. Connecticut became the seventh state to open the doors for online poker inside its borders earlier this month. However, there has also been molasses-slow response to this new development as there have been no operators stepping up to offer… Read more »
Not a pretty chart DraftKings, one of the top two names in daily fantasy sports, is also now one of the biggest brands in legal, regulated sports betting in the United States. But that name recognition has not helped its stock price lately, as the company has lost billions in market share. In terms of… Read more »
The battle is beginning to heat up in Florida regarding sports betting and it seems that neither side is playing fair. Allegations of improper petition collections and outright fraud have been claimed by one side. But that organization making the accusations has not disclosed that the “grassroots” effort that people assume it is representing is… Read more »
Possible trouble with the purchase of GNOG DraftKings is just finding itself in all sorts of legal messes lately. A law firm has announced an investigation into the sports betting company’s acquisition of Golden Nugget Online Gaming (GNOG) for potential violations of securities law and a British bookmaker has sued DraftKings for patent infringement. Let’s… Read more »
Try to hit it big The highly-anticipated 2021 DraftKings Sports Betting National Championship took place this weekend and it did not go well. In fact, “took place” is being generous. Technical issues caused significant problems, tilting the playing field, and eventually resulted in the competition having to end early. After problems marred the 2019 edition… Read more »
Couldn’t see eye to eye DraftKings’ pursuit of Entain is over. On Tuesday, the sports betting and daily fantasy sports leader said it has ended talks with Entain about acquiring the partypoker parent company. Neither company gave specifics as to way no deal could be agreed upon. According to UK law (Entain is headquartered in… Read more »
Parties need more time Today was the deadline for sports betting and daily fantasy sports leader DraftKings to officially make an offer to buy partypoker owner Entain, but an offer never materialized. That does not mean that the deal is dead, however, as Entain has extended what it calls the “put up or shut up”… Read more »
Apparently that wasn’t DraftKings’ best offer Late Tuesday, after partypoker’s parent company Entain confirmed that DraftKings had put forth an offer to buy the UK-based gambling company, Entain pulled back the curtain further, revealing that it was already considering a second offer from DraftKings. The original offer, according to CNBC, was for $20 billion. Entain… Read more »
That’s a serious offer The financial markets were abuzz on Tuesday with the news that daily fantasy sports and sports betting giant DraftKings has made a $20 billion offer to acquire UK-based gambling company Entain. According to CNBC, the offer is in both stock and cash, but mainly the former. The Entain name in and… Read more »
DraftKings has announced that it will acquire Golden Nugget Online Gaming (GNOG) for $1.56 billion. The purchase will be an all-stock transaction, no cash. The sports betting company will get GNOG’s brand, products, and arguably most importantly for DraftKings, its database of 5 million customers. “Our acquisition of Golden Nugget Online Gaming, a brand synonymous… Read more »
When the Florida General Assembly met in May, it seemed it was just a “rubber stamp” session of the body. Pulled together for a “special session” to consider the new compact signed by Governor Ron DeSantis and Seminole Tribe leader Marcellus Osceola regarding gaming in the state. While the General Assembly did eventually put their… Read more »
This has been a weird, unpredictable college basketball season, but what has been predictable is that Jim “Mattress Mack” McIngvale placed yet another whopper of a bet. And with just four teams remaining in the NCAA men’s basketball tournament, he has a chance to win big. The furniture store owner known for making massive bets… Read more »
No workarounds needed It is starting to get easier to download real money gambling apps to Android devices. Recently, BetMGM became the first real money online poker app to make an appearance in the Google Play store, simplifying the process for poker players in New Jersey to hit the felt on their mobile devices. It… Read more »
Dollar signs in their eyes Flutter Entertainment confirmed rumors Monday that it is considering an initial public offering for sports betting and daily fantasy sports arm FanDuel. Other than that, Flutter, which also owns PokerStars and several other big gaming brands, did not say much. The company’s stock price closed up nearly 6 percent on… Read more »
