Each Wednesday, I provide commentary in short-form audio on a topic in the US gambling industry.
Why do platforms that many of us understand to be gambling want very much to be called “not gambling?” That might seem obvious, but it’s still worth unpacking as we consider the future of prediction markets. And I also take a look back at how we got to the point of “if you’re gambling against other people, do we care?”
A couple of old posts I reference in the podcast:
Circle Squared and Breakpoint have teamed up to launch Match Fit, a new performance readiness service. Built by experts, focused exclusively on betting and gaming, tailored to your needs.
Are your systems Match Fit? Time to find out and time to make sure.
Gambling news roundup
Two podcasts in one day?: Episode 2 of The Event Horizon pod is out, along with a roundup of prediction markets news.
Here comes more sports betting competition for Kalshi: Earlier, I broke the news that Polymarket US is getting into sports event contracts (ie sports betting) for its launch. An update if you read that story: The documentation now says the markets could be offered on Oct. 2, after it originally said Oct. 7. Could that mean we’ll get a Polymarket launch tomorrow? We’ll see.
InGame also had a scoop along the same lines… ForecastEx Latest Prediction Market To Self-Certify Sports Markets, Prop Bets: “ForecastEx self-certified with the Commodity Futures Trading Commission (CFTC) to offer sports event contracts two weeks ago and on Monday filed documents stating its apparent intention to include the type of proposition bets being offered by the Kalshi prediction market. Chicago-based ForecastEx, a Designated Contract Market and Derivative Clearing Organization owned by Interactive Brokers, has not yet launched sports markets. Companies may post markets the next business day after self-certification unless ordered to stand down by the CFTC. ForecastEx on Wednesday offered “Yes/No” contracts in the categories of Economic Indicators, Elections, Environment, Financial Markets, Government, and Technology.”
Polymarket’s launch will of course be the one to watch. The company has:
A lot of mindshare.
A US database from pre-2022 that isn’t too old.
Some US users who already use Polymarket (with a VPN and crypto).
A pile of investor money to try to compete in nationwide sports betting via prediction markets.
More on prediction markets (and all things gambling) from Steve Ruddock’s Straight to the Point newsletter:
How a surge in legal betting fueled an ugly fight: The battle for 1-800-GAMBLER (CNBC): “'It’s our property,’ Luis Del Orbe, CCGNJ’s executive director, told CNBC. The group also owns 800gambler.org. The National Council sued for an emergency stay this summer to prevent the New Jersey council from taking back operations, arguing that the local group doesn’t have the resources to staff or operate the hotline around the clock. NCPG has significant financial backing from the NFL — more than $12 million over six years — and major sportsbook operators. The council spends $1.5 million annually providing infrastructure and connection for callers in 10 states and serving as a kind of call-in way station for dozens of other jurisdictions. Lawyers for the national council argued that reverting it back under New Jersey’s operation would have devastating consequences.”
“Thousands of individuals and families could suddenly find themselves without access to the only national lifeline for problem gambling,” said Amanda Szmuc, an attorney with Offit Kurman. …
“Del Orbe of the New Jersey organization said his staff is prepared for an increase in calls. When calls come into his office after-hours, they’re forwarded to a 24-hour call center in Louisiana — the same one that services many states and local jurisdictions that funnel through 1-800-GAMBLER, he said.” …
“The NFL said in a statement to CNBC, ‘Under NCPG’s stewardship, 1-800-GAMBLER has been transformed into a vitally important national resource—making it easier for anyone, anywhere in the country to get quality care when they need it. Any disruption or degradation of that service is deeply concerning.’”
My take: Good read, make sure to click through and read the whole thing.
FanDuel and Amazon Announce Exclusive Odds Provider Partnership for NBA and WNBA on Prime Video (press release): “FanDuel, the premier online gaming company in North America, today announced a partnership with Amazon to become the official odds provider and an official partner of NBA & WNBA on Prime Video. This partnership brings together two industry leaders to enhance basketball fans’ viewing experience starting this upcoming NBA season. Fans who opt in to NBA on Prime’s new bet tracking and Odds View features will experience compelling narratives surrounding the game’s biggest moments with FanDuel’s unique insights from its market-leading sportsbook. As a premier sponsor of the NBA on Prime, FanDuel will play a key role in providing dynamic betting content during NBA action accessed via Prime Video.”
“Our partnership as the official odds provider for NBA and WNBA on Prime Video represents a significant milestone in how we connect with basketball fans,” said Mike Raffensperger, President of Sports at FanDuel. “By integrating custom content into Prime Video’s NBA broadcasts, we will enhance the fan viewing experience and connect with new audiences.”
“It’s important to partner with brands that are invested in enhancing the fan experience. We’re helping to transform how brands reach highly engaged consumers,” said Danielle Carney, Head of U.S. Video and Live Sports Sales, Amazon Ads. “By prioritizing innovation and storytelling we can create unique opportunities for brands to connect with their audiences that are more meaningful.”
As sports betting explodes, experts push for a public health approach to addiction (podcast, NPR): Sports betting is now legal in 39 and D.C. But public health experts are concerned about gambling disorders, and are calling for more limits on sports gambling to prevent addiction.”
My take: SPORTS BETTING IS CURRENTLY LEGAL IN 50 STATES BECAUSE OF PREDICTION MARKETS, PLEASE ACKNOWLEDGE THIS IN REPORTING.
Similarly: As problem gambling grows, will NJ limit in-game sports betting? I’m here to tell you that state law isn’t going to stop Kalshi and the rest from offering in-game sports betting.
PrizePicks picks Mindway’s brain for AI problem gaming detection (SBC Americas): “Fantasy sports operator and approved prediction market participant PrizePicks has partnered with Mindway AI to lean on the Danish company’s automatic detection and monitoring technology. The Atlanta, GA-based company will integrate Mindway’s software directly into its platform in a partnership it said will greatly boost its ability to detect and respond to potential problem gaming behaviors. Mindway AI offers fully automatic detection and monitoring of at-risk and problem gambling behavior, as well as providing operators and its other partners with intervention solutions to enhance player protection. …”
“Partnering with Mindway marks a meaningful evolution in how we support player protection,” said PrizePicks Senior Director of Responsible Gaming Phil Sherwood. “By enhancing our ability to analyze behavioral data, we’re able to deliver more tailored interventions and promote responsible play tools with greater precision—helping ensure a safer, more sustainable experience for all of our players.”
Ifrah Law has been at the center of advancing iGaming in the U.S., shaping groundbreaking legislation, leading precedent-setting cases, and guiding clients that span the iGaming ecosystem through every phase of their business journey. Learn more at IfrahLaw.com.
Apple, Google, Meta Social Casino Lawsuits To Continue (Casino Reports): “In a setback for Silicon Valley’s biggest companies, U.S. District Court Judge Edward Davila on Tuesday refused to toss out lawsuits accusing Apple, Google, and Meta of profiting from illegal gambling through ‘social casino’ apps.”
Georgia Lawmakers Revisit Gambling Expansion (Covers): “A Georgia Senate committee reconvened this week to examine whether legal gambling could bring new revenue streams to the state. The House Study Committee discussion centered on casinos, horse racing, and sports betting, all of which are currently prohibited under state law. Lawmakers noted that Georgia is one of only six states without casinos, and one of ten without legalized sports betting. Proponents included state leaders and professors who argued that expansion could generate billions in revenue and fund programs such as education and healthcare. One former Senator from Kentucky, Damon Thayer, showed particular interest in introducing horse betting to the state.”
“I think the population and demography and geography and agricultural background would make this a huge state for horse racing and would be a huge benefit for your economy. The University of Kentucky published last year, and it calculated that the economic impact of the horse industry was actually $6.5 billion a year, with an estimated 16,500 jobs,” Thayer said.
New York Legislator Files Bill to Prohibit Online Sports Betting Limiting Practices (Sports Betting Dime): “One Empire State legislator is hoping to prohibit the practice of New York online sports betting users being limited by licensed operators. New York Assembly Member Alex Bores (D-73) filed A09125 last week, which will prohibit licensed New York sports betting operators from “limiting the size and frequency of deposits or wagers” of authorized sports bettors. However, users exhibiting signs of problem gaming behavior or suspicious betting activity can still potentially be limited under the legislation.”
Donald Trump Jr. weighs in on Alabama’s ‘crazy’ sports betting law (AL.com): “Alabama is one of 11 states that does not have legalized real-money sports betting, a fact that Donald Trump Jr. thinks should be changed. On Saturday, Trump responded to a post on X criticizing the fact that football fans watching the Georgia v. Alabama college football game had to bet on the game using illegal bookies. Trump said he, ‘totally agrees on changing’ the ban on legal sports betting in Alabama and Georgia, which also has not legalized sports betting yet.”
My take: Trump Jr. advises both Kalshi, which currently does offer sports betting in those states, and Polymarket, which will soon. I guess he’s really plugged into both businesses.
Sweepstakes event happening tomorrow (11:30-12:45 Eastern; register here): “The Online Social Games Expo will feature operators and insiders who will challenge misinformation and highlight our industry’s commitment to responsible innovation, player protection and industry integrity. The Expo will also spotlight the benefits our industry can provide for states that modernize their laws to support a thriving online social games industry.”
Jeff Duncan, Executive Director, SGLA
Bryan P. Schroeder, General Counsel, ARB Interactive
Derek Brinkman, Executive Product Advisor, VGW
Paul Foster, Director, Yellow Social Interactive
Eric Wright, Tribal Administrator of Kletsel Dehe Wintun Nation; CEO of Kletsel Economic Development Authority (KEDA)
Better Collective announces partnership with X to launch Playbook (Next.io): “Better Collective has entered into a strategic partnership with X to launch Playbook, an AI-powered betting solution intended to transform how bettors place their online wagers. Marketed as the premier sports betting bot across the US last month, Better Collective said in an announcement that the initiative reflects the company’s ambition to broaden its reach beyond customer acquisition. Playbook (@Playbook on X) allows the company to focus more heavily on retention-driven products within the global betting landscape.”
Midnite secures $100m financing to fuel UK growth (Next.io): “UK-based sportsbook Midnite has secured a credit financing deal worth up to $100m as it seeks to accelerate growth and stake its claim as a tier-one player in the online betting market. The revolving credit facility is provided by House Advantage Fund (HAF), a specialised user acquisition financing strategy launched by Las Vegas investment firm Discerning Capital, alongside Singapore-based PvX Capital. Discerning Capital, which led Midnite’s $10m Series B funding round in April, is a long-term backer of the operator.”
OLG puts out an APB (well, sort of) on an RFI for AML (Gaming News Canada): Gaming News Canada learned recently that OLG has sent out a Request for Information for an ‘AML Solutions Program’ with an October 17 deadline to submit information. According to the RFI, OLG is ‘seeking information on Anti-Money-Laundering (AML) Solution(s) that satisfy any combinations of the following objectives’ (and there’s more information here).
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.
