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The cost of living is on the rise in the US, so how could this affect the gambling industry? According to the US Consumer Price Index (CPI), the cost of living, as measured by the price of goods and services, has increased by 2.4% over the past 12 months, as shown by data from the Bureau of Labor Statistics. That’s a sped-up rate of growth from the 12-month period prior, which saw a rate of 2.3...
The Catholic Bishops’ Conference of the Philippines (CBCP) has shared a statement appealing to the government to ban all forms of online gambling. They’ve described this as being a “moral and social crisis” and have expressed deep concern. This comes as the gambling revenue in the Philippines was projected to reach a record of more than 350 billion pesos ($6.03 billion) last year. The forecast...
The most recent World Series of Poker tournament continues to throw surprises, including Celine Dion’s son René-Charles Angelil being a contender. This marks his third time playing the Main Event, but he spoke candidly about his previous experiences as he said, “I think the first two times I played, I didn’t make it to dinner on day one, so I’m pretty happy to still be here on day five with chips...
Suspended Osceola County Sheriff Marcos Lopez is at the center of explosive allegations involving racketeering, money laundering, and illegal gambling tied to five Florida casinos, according to newly unsealed court records. In a 10-page charging document filed in Lake County Circuit Court and seen by ReadWrite, prosecutors claim Lopez was part of an operation that ran multiple illegal gambling...
The World Series of Poker has this week announced its record-breaking prize for its Paradise 2025 event, otherwise known as the winter series. It can now be revealed it will be headlined by a $60,000,000 Super Main Event which is reported to be the largest prize guarantee in live poker tournament history. The No Limit Hold’em Super Main Event Championship requires a buy-in of a hefty $25K, with...
US Senator Catherine Cortez Masto from Nevada is calling out Senate Republicans for blocking her bipartisan fix to a Republican budget provision that limits how much taxpayers can deduct for wagering losses. On Thursday (July 10), Cortez Masto went to the Senate floor and asked for unanimous consent to pass her Facilitating Useful Loss Limitations to Help Our Unique Service Economy Act, or FULL...
The UK’s Gambling Commission is aiming to strengthen its approach to calculating and imposing financial penalties on the gambling operators that breach rules. A consultation has been undertaken, with the commission’s ‘Statement of principles for determining financial penalties’ to be amended for better clarity and transparency. Operators have time to get acquainted with the changes, as these will...
The Department of Consumer Protection’s (DCP) investigation into betting provider DraftKings has resulted in the return of a substantial $3 million to customers in Connecticut. DraftKings was subject to a probe by the DCP into the marketing tactics of the gambling operator, which allegedly breached the state’s advertising laws. “Gaming operators must clearly communicate the terms of any...
Norsk Tipping, a provider of betting and gambling in Norway, has been accused of breaching the nation’s gambling laws. The accusation comes from the Norwegian Gambling Authority, the regulator of all betting in the Scandinavian country, after thousands of bettors received incorrect texts claiming they had won on the Eurojackpot. Norwegian regulator steps into Eurojackpot error The issue occurred...
Flutter Entertainment, one of the world’s biggest betting and gaming brands, has agreed a deal to secure 100% ownership of FanDuel. Boyd Gaming Corporation held a 5% stake, valued at $1.755 billion. The deal for Flutter to snap up this share makes the company the sole owner of FanDuel, the leading betting company in the United States, with an estimated value of $31 billion. So that's official,...