Each Wednesday, I provide my thoughts in short-form audio on a topic in the US gambling industry.
Major League Baseball is moving to adopt technology to assist where human officials can’t be perfect. That’s a good thing for sports and sports betting; I get into that in this week’s podcast.
Some companion reading material for the podcast:
MLB to use ABS challenge system during All-Star Game in Atlanta
A Twitter account that analyzes umpires and their strike zones.
Gambling news roundup
Senate Bill To Roll Back Gambling Losses Tax Deduction Cut Coming Thursday (Casino Reports): “Nevada Democratic Sen. Catherine Cortez Masto will introduce legislation Thursday to repeal a tax provision on gambling losses that is part of President Donald Trump’s recently passed “One Big Beautiful Bill Act” (OBBBA). OBBBA, which passed July 4, includes a provision stating that gamblers can only deduct 90% of their losses. Previously, gamblers could deduct 100%, so the bill poses concern that professional gamblers or sharp bettors will take their business offshore or might be disincentivized to report accurately, which will cost states tax dollars. Casino Reports obtained a copy of Cortez Masto’s bill and her office told Casino Reports that the bill — ‘Facilitating Useful Loss Limitations to Help Our Unique Service Economy’ (FULL HOUSE Act) — will be introduced via unanimous consent.”
GOP Senators Had No Idea They Voted For Controversial Gambling Tax (HuffPost): “The massive tax and spending bill that President Donald Trump signed into law last week contains a provision limiting tax deductions for gambling losses that has professional bettors howling about being driven out of business. The provision surprised many in the industry as well as numerous Republican senators involved in drafting the legislation, who told HuffPost they didn’t know how or why it was inserted into the bill. GOP lawmakers were under pressure to pass the bill by Trump’s self-imposed July 4 deadline.
“If you’re asking me how it got in there, no, I don’t know,” Sen. Chuck Grassley (R-Iowa) said during an interview on Tuesday.
“I don’t know anything about it. I’m not sure what it does,” Sen. John Cornyn (R-Texas) added.
The PR effort around the gambling tax fix has certainly been successful; now we’ll see if it generates results in a policy change:
FanDuel Officially Applies to Enter Missouri Sports Betting Market (Sports Betting Dime): “FanDuel is officially attempting to enter the future Missouri sports betting market. A spokesperson for the Missouri Gaming Commission tells Sports Betting Dime that FanDuel today submitted an application for an untethered online sports betting license in the Show-Me State. Missouri gaming regulators have received three sports betting licenses so far. Missouri sports betting apps will launch on Dec. 1, 2025.”
Missouri Opens Sports Betting Public Comment Period, Still Accepting Applications (SBD): “The Missouri Gaming Commission is moving along its sports betting timeline and is now accepting public comments on the state’s proposed sports betting rules until the end of day on July 16.”
NJ Bill Prohibiting Sports Betting Partnerships with Public Colleges & Universities Signed (press release): “New Jersey’s public colleges and universities will be prohibited from partnering with sports betting operations under terms of legislation sponsored by Senator Joe Cryan and Senator John McKeon that was signed into law by Governor Phil Murphy today. The law, S-2155, bans contractual agreements between sports betting companies and New Jersey institutions of higher education, including their athletic departments and booster clubs, that would otherwise allow for advertisements or promotions for gambling services. The surge in gambling advertisements and partnerships, particularly those targeting college campuses, has contributed to the increase in gambling among students, Senator Cryan said.”
“The proliferation of sports betting by college students is a troubling trend that can have a destructive impact on their lives,” said Senator Cryan (D-Union), the chair of the Senate Higher Education Committee. “Young people are especially vulnerable to compulsive gambling and can have a difficult time breaking the habit once it becomes ingrained. This will help protect them from the negative influences of advertisements that promote the practice. Our college campuses should be places for learning, not underage gambling.”
I feel like sportsbooks are probably avoiding these anyway, moving forward, after some silly deals signed in the earlier days of US sports betting.
Malik Beasley remains under investigation in federal betting probe as NBA Summer League begins (IGB): “In my career I’ve represented hundreds of clients who have been under federal investigation that have never resulted in federal charges,” Beasley’s attorney, Steve Haney, told iGB on Tuesday. “Malik deserves that presumption of innocence. At this point there have been no criminal charges. We hope that people will reserve judgment. The cloud of an investigation creates this presumption that he must have done something wrong, which is unfair to him.”
Who wants some fake parlays?
Trusted Voices: Conversations About Betting from FanDuel
Trusted Voices: Conversations About Betting is designed to equip adults, including parents and coaches, with tools and resources to talk to young people about gambling, including information on warning signs, risks and proxy betting. The program is led by retired professional basketball player Randy Livingston and his wife, basketball agent Anita Smith, who share their personal stories related to problem gambling, with the hope of preventing others from experiencing similar harms. Learn more and join the conversation here.
Flutter Has Recession Insulation, Multiple Tailwinds, Says Analyst (Casino.org): “Shares of Flutter Entertainment (NYSE: FLUT) are up 9.44% year-to-date — an impressive feat considering the headwinds encountered by another sports wagering tax increase in Illinois. At least one analyst sees much more upside ahead for the FanDuel parent. In resuming coverage of the gaming stock, Jefferies analyst James Wheatcroft rates Flutter a ‘buy’ with a Wall Street-high price target of $380, implying upside of approximately 35% from today’s close. One of the reasons for the analyst’s bullishness on the stock is recession resilience.’
“Our recent in-depth Recession Scenario note flagged the lack of historical correlation between online gambling and the macro backdrop. FLUT’s high online exposure (91% revenues), high geographic diversity (59% revenues outside main market), and solid balance sheet (2.2x leverage, with ongoing buyback) add insulation,” wrote Wheatcroft in a note released after the close of US markets today.
Meta with new restrictions for gaming-related ads (Sigma World): “For anyone looking to promote online gambling activities on Meta’s platforms, the regulatory landscape just became significantly stricter. The California tech giant has announced a new set of restrictions governing gambling and gaming-related ads, with precise rules on licenses, mandatory approvals, and advertiser responsibilities. A move that industry observers see as part of a broader global trend toward tighter, more transparent regulation of the online gambling sector. Effective immediately, any promotional activity related to online gambling on Facebook or Instagram requires prior approval through Meta’s “Permissions and Verifications” section within Business Suite. This is a formal process, strictly tied to the possession of valid gaming licenses and full compliance with the laws of the countries where the ads will run.”
Tucker Carlson attacks ‘predatory’ sports betting companies: ‘those are the villains’ (Awful Announcing): The stuff he says about sports betting is barely coherent, but I’m sharing it so you know it exists.
PrizePicks Expands Compliance Team with Key Regulatory Hire (press release): “PrizePicks, the largest daily fantasy sports operator in North America, today announced the appointment of Todd Grossman as Director of Gaming Regulatory Compliance, strengthening the company’s legal and compliance leadership as it continues to expand across North America. Grossman joins from the Massachusetts Gaming Commission (MGC), where he most recently served as General Counsel and Interim Executive Director. During his more than ten years at the Commission, he helped architect the Commonwealth’s gaming, racing, and sports wagering regulatory frameworks—bringing deep expertise in oversight, licensing, and public policy to his new role at PrizePicks. As Director of Gaming Regulatory Compliance, Grossman will help drive the company’s compliance strategy across all jurisdictions, ensuring operational excellence in a rapidly evolving regulatory landscape and supporting PrizePicks’ long-term growth and licensure objectives. Prior to his time with the MGC, Grossman held senior legal roles at the Massachusetts Department of Public Safety and State Athletic Commission, and previously served as an Assistant District Attorney in Middlesex County. His career spans over two decades in legal leadership and public service, with a focus on compliance, governance, and risk.”
Maine Online Casino Bill Set To Sit (Legal Sports Report): “A bill legalizing Maine online casino will remain in limbo for the time being. Gov. Janet Mills released a list of 60 pieces of legislation she will not act on until the legislature reconvenes, including an online casino bill, LD 1164. Mills cannot veto while the lawmakers are adjourned.”
Soft2Bet’s Brand ToonieBet Named An Official Sports Betting and Casino Partner of the Canadian Football League (press release): ToonieBet, Soft2Bet’s premier sportsbook and online casino brand tailored for Canadian players, has been named both an Official Sports Betting Partner and an Official Online Casino Partner of the Canadian Football League (CFL). The multiyear partnership also establishes ToonieBet as an Official Partner of the CFL’s championship game, the Grey Cup. Fans from coast to coast to coast annually gather for Canada’s largest single-day sporting event to celebrate an incredible season, and to witness one team earn the right to hoist the iconic trophy. The 112th Grey Cup will be played at Princess Auto Stadium in Winnipeg on Sunday, November 16.
“This partnership is for the fans,” said Tyler Keenan, the CFL’s Chief Revenue Officer. “Together with ToonieBet, we will unlock exciting avenues of entertainment, delivering new products, responsible gaming options and unique activations, to better serve the future of fandom. In the stadium, at home or online, we’re doubling down on engagement and innovation like never before.”
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