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This morning, BetHog — a company started by FanDuel founder Nigel Eccles — announced a $10 million Series A financing round. As part of the raise, BetHog also launched Sentient Studios, which is “a new B2B provider that enables casino operators to deploy AI-powered dealers across their live online casino offerings.”
I had Eccles on the podcast to talk about the raise just before it was announced, and where the cryptocurrency casino, sportsbook, and new studio are headed.
More from the press release:
With this launch, BetHog is introducing a software-driven alternative to traditional live dealer supply models, giving operators greater control, flexibility, and scalability in how they deliver live casino experiences.
The round was co-led by Will Ventures and RockawayX, with participation from PCV, 6MV, Bullpen Capital, and Advancit Capital, bringing BetHog’s total funding to $16 million. The company plans to use the capital to expand its AI dealer technology on its own platform and accelerate adoption of Sentient Studios among global gaming operators.
“We’ve tested our basic AI dealer over the past six months and have discovered that it is 10x more popular than its live dealer equivalent. In addition, we’ve seen better retention and player satisfaction,” said Eccles, CEO and co-founder of BetHog. “With Sentient Labs, we’re excited to bring this product to other online casinos where operators can launch and scale their own dealer experiences instantly, operate continuously, and create more personalized interactions for players.”
Today, operators rely on third-party providers to supply live dealer tables, which can limit flexibility around capacity, localization, and differentiation. Sentient Studios removes these constraints by allowing operators to dynamically scale table availability, support a broader range of languages and player segments, and adapt experiences in real time without being tied to studio staffing cycles.
The platform also enables a new level of customization, allowing operators to create unique dealer personas, branded environments, and premium experiences that are fully owned within their product, rather than shared across a broader supplier ecosystem.
The launch builds on BetHog’s first AI-powered blackjack dealer, Sunny, first introduced in October 2025 and now available in 12 languages, which has become one of the most played games on the company’s platform. BetHog plans to expand its AI dealer capabilities later this year with the addition of baccarat and roulette.
Sentient Studios operates on a pure revenue-share model with no setup fees, monthly minimums, or fixed-term contracts, lowering the barrier for operators to test, launch, and scale new live casino experiences.
A company leaning into this kind of iteration is an interesting development in the world of online casinos. Live dealer has become a major part of many operators’ offerings; are we on the cusp of innovation in the space, not just in live dealer, but beyond?
Eccles and I also talked about what he learned from his time at FanDuel, disruption in online gambling in the United States, and, of course, everyone’s favorite topic of prediction markets.
The Comeback with Craig Carton
Sponsor’s message: In episode 6 of The Comeback, Craig Carton talks with Sam who began his gambling during the early 2000’s poker boom. He saw his problems begin with online sports betting, though, betting on illegal offshore sportsbooks while living in California.
Gambling news roundup
🚨The important stuff
New York AG Sues Coinbase, Gemini Over Prediction Markets (Event Horizon): New York Attorney General Letitia James sued Coinbase and Gemini today, alleging that they are “illegally running gambling operations in New York through their so-called ‘prediction market’ platforms.”
Kalshi, Polymarket, and other prediction markets were not part of any legal action announced in New York on Tuesday.
Both Coinbase and Gemini offer users the ability to bet on events, including sports, entertainment, and elections, in violation of New York laws. An investigation by the Office of the Attorney General (OAG) found that Coinbase and Gemini are running prediction markets that constitute illegal, unlicensed gambling operations.
Coinbase filed to remove this to federal court later Tuesday:
Paul Grewal@iampaulgrewalWe have removed this action to federal court pursuant to 28 U.S.C. §§ 1331, 1441, and 1442. New York’s claims necessarily raise disputed and substantial questions of federal law. They are subject to complete preemption. And New York cannot defeat federal-officer removal through
Paul Grewal @iampaulgrewalAbout the NY lawsuit news - prediction markets are federally regulated national exchanges, registered with the CFTC. This issue is proceeding in New York federal court as we speak. Coinbase will continue to fight for the federal oversight of these markets that Congress intended.4:12 AM · Apr 22, 2026 · 5.38K Views2 Replies · 5 Reposts · 53 Likes🤔 It’s interesting to note that Coinbase uses Kalshi markets…
Churchill Downs Incorporated Announces Definitive Agreement
to Acquire Preakness Intellectual Property Rights (press release): Churchill Downs Incorporated announced today that it has entered into a definitive agreement to acquire the intellectual property, including all trademarks and associated rights, of the Preakness Stakes and Black-Eyed Susan Stakes (the “Preakness IP Rights”) from 1/ST Maryland LLC, an affiliate of 1/ST Racing, for a purchase price of $85 million, subject to customary closing conditions (the “Transaction”).
The Preakness IP Rights are subject to an Exclusive License Agreement pursuant to which CDI will license to the State of Maryland the intellectual property rights necessary to conduct the running of the Preakness Stakes and Black-Eyed Susan Stakes in exchange for an annual fee.
The Preakness Stakes, first run in 1873, is the second leg of the Triple Crown of Thoroughbred Racing. The Black-Eyed Susan is a leading race for three-year-old fillies traditionally conducted at Pimlico Race Course on the day before Preakness.
“This acquisition adds one of the most iconic brands in American sports to our portfolio and is consistent with our strategy of investing in premier Thoroughbred racing assets with long-term growth potential,” said Bill Carstanjen, Chief Executive Officer of CDI. “In keeping ownership of the Preakness intellectual property in the racing industry, CDI will support efforts to fully realize the potential of a redeveloped Pimlico and Preakness Stakes within the Triple Crown and the broader sports and entertainment landscape.”
The parties expect the Transaction to close after the running of the 2026 Preakness Stakes. The Transaction will be funded with cash on hand and the Company’s existing credit facility.
🐎 It doesn’t get much bigger than this in the horse racing industry. More synergy between the first two legs of the Triple Crown should be a net positive for building momentum over the biggest weeks on the US racing calendar. But time will tell.
🏛️Legislative and regulatory updates
Oklahoma lawmakers, tribes and OKC Thunder agree on sports betting bill (The Oklahoman): “The lawmakers behind the push to legalize sports betting in Oklahoma say they will move forward with new legislation after reaching an agreement with the Oklahoma City Thunder, a number of tribal nations, and the state’s leading public universities.”
Press release from key lawmakers: Sen. Bill Coleman and Rep. Ken Luttrell announced today that they will move forward with a new version of a bill to legalize sports betting after securing support from key stakeholders.
After years of negotiations, the Ponca City Republicans said this new legislation that supports public education and economic growth has support from the Oklahoma City Thunder, a supermajority of the tribes that are members of the Oklahoma Indian Gaming Association and the state’s leading public universities.
Coleman filed new bill language today through an amendment to House Bill 1047. He said he expects the full Senate will vote on the measure this week.
This proposal would allow Oklahoma tribes to offer in-person sports betting at their gaming facilities while also creating a framework for legalized mobile betting statewide. Under this framework, Oklahomans would be able to place wagers online through platforms operated in partnership with Oklahoma tribal nations, all in compliance with state and federal law. This structure aligns with successful models used in many other states.
“This is a big day for Oklahoma,” Coleman said. “We’re closer than we’ve ever been to legalizing sports betting. This new legislation is the product of thousands of hours of negotiations over many years. This agreement respects our tribal partners and reflects collaboration and cooperation with our NBA franchise to create a legal, above-board system that can compete with the unregulated black market and legally questionable prediction markets. Oklahomans are already placing bets through other platforms or driving out of state to make legal wagers. It’s time for all of us to come together to get behind this proposal that protects consumers and keeps those dollars here in Oklahoma to benefit our state.”
If this bill passes the Senate, it will return to the House for further consideration. Having worked on this issue since 2018, Luttrell is the bill’s primary House author. …
The proposed amendment to HB 1047 would legalize in-person and mobile sports wagering through a supplement to the state’s Model Gaming Compact. Oklahoma’s tribes would retain the exclusive right to offer gaming in the state and be authorized to negotiate with leading national sportsbook platforms like FanDuel, DraftKings, and others, which would operate through tribal partnerships.
Proposed ban on sports prop bets dies amid state budget woes (CPR News): “Proposition bets are popular in Colorado — too popular (and lucrative) to kill. State lawmakers voted Tuesday morning to remove a proposed ban on prop bets from Senate Bill 131, a larger sports gambling reform measure. …”
“The effort to rein in the growth of sports gambling met the cold reality of a tight state budget. The bill will still require data collection and other changes, like limiting advertising and push notifications and enacting daily deposit limits.”
Online Sports Betting Bills Stymied By Prediction Markets (InGame): “When the Iowa Legislature adjourns Tuesday, it will become the 20th state to complete its 2026 legislative session — and one of many that closed out its session with no action on online sports betting or prediction market bills. With a handful of exceptions (Michigan, New Jersey, Ohio), most other state legislatures will adjourn over the summer.”
“The failure to move legal sports betting bills forward has been caused, in part, by the rise of prediction markets. The sports betting-like offerings have muddied the water for legal sports betting bills or tweaks to current laws in multiple states.”
Louisiana Legislature On Track To Classify Sweeps As Racketeering (Sweepsy): “A bill that could classify sweepstakes gaming under the umbrella of racketeering in Louisiana is on the doorstep of completing its circuit through the state legislature. House Bill 53 cleared the Legislative Bureau and was advanced to its third reading on Monday, meaning it could receive its third reading in the Senate as early as this week. Typically, after a bill’s third reading, it is voted upon by the full chamber.”
Group Studying Sports Betting In Hawaii Hears Positives From Industry (Legal Sports Report): “Stakeholders in Hawaii are making progress on their study of legalizing sports betting and other forms of gambling. Lawmakers created the Tourism and Gaming Working Group through a resolution last year, while a Hawaii sports betting bill fell short in conference committee. The group met for the fourth time last week, working toward a recommendation for gambling policy in the Aloha State.”
Will transparency fold under Gov. Pritzker’s plan to revamp the Illinois Gambling Board? (Chicago Sun Times): “Tasked with regulating all this is the Illinois Gaming Board, which reports to Pritzker and has struggled in recent years with a central task: ensuring the integrity of the billion-dollar industry and keeping people with ties to reputed organized crime figures out of it. Now Pritzker plans to revamp the agency in a dramatic reorganization — but in a manner that would likely eliminate key aspects of public transparency that have existed for decades.”
🔮Prediction markets
Last Week Tonight did a show on prediction markets: And The Closing Line was cited!
Will Congress Act On Prediction Markets? Don’t Rule It Out (InGame): “Peter Hammon, an attorney and advisor in the online gaming and sports betting space, puts it more concretely. He thinks the chances of Congress acting have ‘gone from zero to 5-10% due to the relative chaos and PR campaign failures of PMs in the last six months.’ Five to 10% is not a lot. But zero is less.”
‘This Is Purely Gaming’: Inside the Tribal Fight Against Prediction Markets (Front Office Sports): “California tribal leader James Siva says sports prediction markets are an existential threat to Native American sovereignty over gaming in parts of the U.S., and he’s rallying tribes nationwide to stop them. Siva, chairman of the California Nations Indian Gaming Association (CNIGA) and vice chairman for the Morongo Band of Mission Indians in Cabazon, Calif., has emerged as one of the most outspoken tribal leaders opposing the rapid rise of these platforms—which for over a year have been offering products practically indistinguishable from traditional sports betting.”
My latest roundup:
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📖 Other things you should know/read
SC business owners sue Dave & Busters over gambling laws (WSPA): “A group of South Carolina business owners is suing restaurant and arcade chain Dave & Busters, claiming certain arcade machines used in Greenville and Myrtle Beach violate state gambling laws.”
“According to court records, SC Citizens For Equal Enforcement of Gambling Laws, LLC filed a lawsuit April 15 against Dave & Busters, claiming the chain’s arcade practices are against the law and asking for a jury to force the company to refund customers who lost money playing arcade games at one of the company’s locations in South Carolina.”
Pro poker player who’s won more than $48 million says new tax laws forced him into semi-retirement: ‘It’s really untenable’ (CNBC): “In recent years, the 66-year-old estimates he’s played roughly 130 to 150 events a year, including times he’s bought back in after being eliminated. Last year, his total tournament winnings topped $2.8 million, according to Hendon Mob. But this year, he says, he plans to play maybe a quarter of the tournaments he usually plays, and virtually no ‘high-roller’ events, which cost $25,000 or more to enter. The reason is simple, he says: taxes.”
A follow-up on my piece on sports betting handle in the US in March…:There was an extra Saturday in March vs. March of last year. While that’s more than nothing, it’s definitely not accounting for handle being down 4-5% nationwide in March, or around 10% in Pennsylvania and New Jersey. Using Kalshi daily volume as a comp, an extra weekend day in March might be worth 1% or more to handle totals in state-regulated sports betting. (If anyone can tell me more definitively what a Saturday in a non-football month is worth, I am all ears.) A missing weekend day during football season would clearly make a bigger impact.
More from Straight to the Point on the handle/prediction market issue:
And…
Geoff Zochodne@GeoffZochodneNoting BetMGM CEO Adam Greenblatt's comments last week, report from Citizens today says the investment bank suspects prediction market ad spend is "having an impact on new customer acquisition" in mature sports betting states. Still "relatively minor" handle cannibalization, tho.
4:36 PM · Apr 21, 2026 · 435 Views1 Reply · 1 Like
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📣 Industry news
Prize Picks Execs Get Death Threats (Secure Stakes): “An arrest warrant was issued in Georgia earlier this month for a Maryland man who allegedly graphically threatened Prize Picks executives via the company’s customer service chat bot. According to the filing he was upset about losing money on the platform and having his funds frozen. He told customer service that he was ‘on his way to Atlanta to blow up Prize Picks headquarters’ and would then go kill a number of executives and their families.”
First NYC casino to offer live table games sets opening day (New York Post): “New York City’s first-ever full-fledged casino offering live table games will open next Tuesday — at Resorts World next to the Aqueduct racetrack in Queens. Queens-bred rapper Nas will attend the ribbon-cutting and ceremonial throw of the first dice after Genting-owned Resorts World was one of three bidders awarded a state license last December to offer live table games.”
Caesars Entertainment and Westgate Las Vegas Resort & Casino
Announce Sportsbook Partnership (press release): Caesars Entertainment, Inc. and Westgate Las Vegas Resort & Casino today announced a new partnership under which Caesars Sportsbook will operate the Westgate SuperBook, pending Nevada Gaming Commission approval. The partnership brings together the SuperBook’s storied legacy and expansive footprint with Caesars Sportsbook’s platform and market-leading sports betting menu, creating a next-generation sports wagering experience. Widely recognized as one of the largest and best sportsbook viewing experiences in the world, the Westgate SuperBook has long set the standard in Las Vegas for scale, atmosphere, and immersive sports viewing.Under the partnership, the legendary sportsbook will operate as the Westgate SuperBook, powered by Caesars Sportsbook. With a planned transition prior to football season, Caesars will oversee race and sportsbook operations and technology, expanding wagering options and access while preserving the identity, scale and atmosphere that have defined the SuperBook for decades. The Westgate Las Vegas SuperContest® franchise will remain an integral part of the SuperBook experience.
As part of the enhanced experience, sports fans will enjoy Same Game Parlays, expanded parlay offerings, and live in‑play wagering across a wide range of professional and collegiate sports, both in-person and on the Caesars Sportsbook app. Additionally, Caesars Sportsbook will introduce self‑service betting kiosks inside the SuperBook and throughout the resort, providing faster, round-the-clock access to wagering. Guests will be able to complete in‑person registration for the Caesars Sportsbook app while on property and also seamlessly use their account and manage funds seamlessly across the platform’s Universal Digital Wallet in participating markets for convenient deposits and withdrawals.
“The Westgate SuperBook is one of the most recognizable sportsbook destinations in the world, and we are proud to partner with Westgate on the next chapter of its evolution,” said Eric Hession, President of Caesars Digital. “By powering the SuperBook with our sportsbook platform, we’re combining a legendary sportsbook environment with a modern betting menu and added convenience that reflects how sports fans want to wager today.”
“Since opening in 1986, our SuperBook has been a defining part of the Las Vegas sports betting landscape,” said Cami Christensen, President & General Manager of Westgate Las Vegas Resort & Casino. “We are incredibly proud of that legacy and thrilled to partner with Caesars Sportsbook to take it to the next level, combining decades of history with innovation, scale, and an even more dynamic guest experience.”
😢 A lot of sports bettors in Vegas are going to be bummed about the change, I am guessing. But the world is changing. With the rise of online sports betting and now prediction markets, retail sportsbooks are just not the same endeavors they once were, in many cases. Nevada in particular is vulnerable to prediction markets, which are far easier to sign up for than the state’s regulated online sportsbooks. And much easier than going to a casino to place a bet.
Performance of Sportradar’s Marketing Services Recognized by Google and EDAA (press release): Sportradar… today announced that its Marketing Services has secured independent accreditations from two of the advertising industry’s leading organizations.
The renewal of its European Interactive Digital Advertising Alliance (EDAA) Trust Seal and distinction as a Google Premier Partner for 2026 underscores Sportradar’s commitment to responsible advertising, and validates its effectiveness in delivering data-driven, scalable, and cost-efficient customer campaigns, respectively.
MGM Resorts International Announces Completion Of The Sale Of The Operations Of MGM Northfield Park (press release): MGM Resorts International announced today that it has closed on the sale of the operations of MGM Northfield Park to private equity funds managed by Clairvest Group Inc. for $546 million in cash.
“MGM Northfield Park is a market‑leading property supported by a talented team that has consistently delivered outstanding guest experiences,” said Bill Hornbuckle, CEO & President, MGM Resorts International. “The property has a strong foundation, and we extend our best wishes to the team and new ownership for continued success in the next chapter of the property’s evolution.”
🌍 Outside of the US
Study: UK black market ad spend to overtake regulated industry by 2028 (Next.io): “The UK black market’s advertising spend could surpass that of the regulated industry by 2028, according to a new study by the World Advertising Research Centre (WARC). … The report includes estimates of past spend and forecasts of future spend and predicts that by 2028, the market share of total advertising spend by the regulated market could drop below 50%.”
Ontario Liberals Introduce Bill to Ban Online Sports Betting Ads (Covers): “Some lawmakers in the Ontario legislature are again proposing to clamp down on advertising of online sports betting and internet casino gambling in Canada’s most populous province. Liberal MPP Lee Fairclough introduced Bill 107, the proposed “Stop Harmful Gambling Advertising Act,” on Monday at Queen’s Park.
The bill, Fairclough says, would make it illegal for Ontario sports betting and iGaming operators to advertise “or otherwise promote” their sites via television, social media, and paid sponsorships.”
The latest podcast from Gaming News Canada:
