Monthly Archives: January 2022

Gambling is a prolific form of the game and it can be played online using your gadgets or you can visit any physical casino to wager. Online casinos are currently in demand because of the convenience and the bonuses that it offers to punters. Anyone who is interested in wagering can place a bet using their smartphone, iPhone, tablets, laptops, or their personal computer at any time. Aside from that, the majority of virtual casinos offer bigger odds and cash back percentages compared to conventional bricks and mortar casinos. Moreover, the players can get a bigger chance to win. UusimmatKasinot, a well-known casino site from Finland introduced its latest online casinos for the year 2022. If interested, you can start finding the best Netticasinot also known as online casinos in Finnish at Uusimmatkasinot.

Online casinos were started in 1994 by a software company called Micrograming from the Isle of Man and in that same year, Antigua and Barbuda passed its Free Trade and Processing act. Microgaming was the first company to provide real-money online casinos. Gambling games were limited during that time and theres a big difference when it comes to the interface, graphics, and sounds compared to our casino sites now.

The market of the industry evolved along with the rapid transformation of the technology until it became what it is now.

Also called an internet casino it is a replica of the physical casino pertaining to the gambling games and the rules. The manner of playing it depends on the player. Options are going to be offered by the site therefore, everything is just under the tips of the players fingers.

There are two types of online casinos: the web-based and Download-based.

Web-based are websites where players can play any casino games after signing up and making a deposit. They dont have to download the software but they need a browser like Mozilla Firefox, Google Chrome, or Opera Mini. A stable internet connection is also needed.

Download-based requires the download of the software and doesnt need a browser. This is quite famous because of the good quality of the graphics and sound.

Virtual is a software-based type of game wherein all games played are determined by the PRNG or the Pseudorandom Number Generator software. PRNG is a mathematical instruction known as an algorithm and it ensures that all activities are random, unpredictable, and fair.

Live dealer on the other hand gives an opportunity to the player to play with other players and the game is played live stream and real-time with a human croupier. It mimics the conventional land-based casino complete with ambiance and sophistication. Communication and transactions are done through a chatterbot provided by the site.

Finland has always been fascinated with all sorts of entertainment including gambling thats why their government is firm with their decision that all gambling activities have to be carefully monitored and according to the Lotteries Act 2001, the government has to be prioritized first. Their government also disapproved of the idea of any foreign online casino sites to advertise in the land; however, the Finns can wager any casino sites from offshore. These rules prompted the European Union to try to negotiate with the Government of Finland to be a little lenient to foreigners but later put their foot down.

Ray is the oldest and the pioneer among the entities and has been around since slot machines were introduced in the 1930s. It oversees the slot machines, roulette and oversees all the land-based casinos in the country. Ray authorized license to new casinos in the land both online and physical.

This entity is responsible for sports betting, the national lottery, and instant win games.

It is responsible for the pari-mutuel horse racing of the land and takes care of all horse race activities.

The PAF is responsible for all the gambling activities in the island of Alands land-based, online, and cruise ships of the North and Baltic seas. All PAF websites can be viewed nationwide.

Online gambling is a good diversion and it helps keep our minds sharp. Discipline is the key in betting in order to fully enjoy it.

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Online Gambling in Finland - PlayStation Universe

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Iowa galloped across the finish line in August 2019 as one of the first states to launch legal online sportsbooks. Since then, the Hawkeye State slowed to a trot on any further gambling expansion.

However, Iowa may emerge in 2022 as a dark horse candidate to legalize online gambling, or at least advance the conversation about it. One factor that could drive that is cross-border competition for gambling dollars from its neighbors Illinois and Nebraska.

To the east, Illinois legislators walked got their own proposed online casino legislation as far as a committee, but the bill failed to advance further in 2021. This year may bring different news, as the Illinois General Assembly is again expected to take up bill discussions. However, at the moment, committees are meeting remotely and House and Senate sessions are completely stalled due to coronavirus concerns. The bills Senate sponsor, Sen. Cristina Castro, believes the efforts chances to succeed are better for 2023 than this year.

To the west, Nebraskas racetracks are about to add retail casino gambling. On Dec. 17, the Nebraska State Racing and Gaming Commission approved rules that will govern casino operations.

Nebraska Public Media reports:

Commission Chairman Dennis Lee indicated applications from existing racetracks would probably be considered first, but they cant be filed until the rules are approved by the attorney general and the governor.

Stuck in the middle, Iowa hasnt yet approached the US online casino gambling starting gate. Its legislative session only began on Monday, however, so theres still plenty of time.

Evan Johnson, a fiscal legislative analyst with the Legislative Services Agency (LSA), confirmed this for Online Poker Reportyesterday:

As of right now, I am not aware of any legislation introduced on that topic. This is only the start of Session, so that could change by the day.

LSA is a nonpartisan legislative agency serving the Iowa Legislature.

Iowas 3 million residents helped set a record for Hawkeye online sportsbook gross gaming revenue (GGR) in November, generating $19.7 million, according to OPRs sister site Legal Sports Report.

So its no coincidence that operators who take bets at Iowa online sportsbooks, including DraftKings, PointsBet and Unibet, already secured market access for their hypothetical online casinos.

Even though operators are excited about their prospects in the state, theyll be competing with lawmakers split attention, OPR sister publication Play Iowa reported.

The Oct. 26 article which discusses PlayUp securing its own online casino market access Russ Mitchell quotedWes Ehrecke. Hes the president and CEO of the Iowa Gaming Association, which advocates for Iowas retail casinos. Those brick-and-mortar casinos may see reduced revenue if border states up the ante.

Ehrecke said legislators will likely be campaigning for reelection during summer and fall.

He told Play Iowa:

The likelihood of this advancing in 2022 is less than 50% at this time.

Ehrecke didnt return OPRs request for an update yesterday. However, even a small chance is better than most US states have this year. For a large part of the country, online casinos arent even up for discussion yet.

Officials with the Iowa Racing and Gaming Commission, Nebraska Gov. Pete Ricketts and Nebraska Attorney General Doug Peterson also didnt return OPRs requests for comment yesterday.

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Could Iowa Be On The Radar For Online Casino Legislation This Year? - OnlinePokerReport.com

DraftKings (NASDAQ:DKNG) is one of the leaders of the online betting industry. That sector has rapidly-emerged over the past few years as many states have legalized online gambling. Formerly just the domain of Nevada and New Jersey, online gambling.is now legal in many regions of the country. Stuck at home during the pandemic and flush with stimulus checks, many Americans were looking for new things to do, enabling online betting to flourish. Despite that, however, DKNG stock has been a real dud in recent months.

But on the positive side for DraftKings, online sports gambling has started to gain mainstream acceptance. The National Football League (NFL), for example, allowed the Raiders to move to Las Vegas. Previously, it had been feared that having a team in a gambling-oriented city would reflect badly on the sport. Those concerns have long been brushed aside; now sports betting websites and apps are some of the leading advertisers on televised sporting events.

In other words, the industry has a great deal of momentum. And, over the next month, the NFL playoffs and Super Bowl will take place. Those events should drive record sports wagering volumes in the United States as viewers in many states will be betting on Americas most popular game

But despite the promising near-term outlook for sports betting, DraftKings and its peers have gotten pummeled. Whats the problem, and can DraftKings get back on track?

When DraftKings went public, it was viewed as an easy way for investors to get exposure to sports betting. At the time, there werent very many online sports gambling sites in the U.S. And DraftKings and Penn National Gaming (NASDAQ:PENN) were the sectors two main publicly traded stocks. As a result, when investors wanted to buy an online sports gambling stock, there was a good chance that theyd pick DraftKings shares.

Now, however, other companies such as FanDuel have carved out a big chunk of the emerging industry. And the traditional casinos arent going down without a fight. Longtime casino owners like MGM (NYSE:MGM) andCaesars (NYSE:CZR) are making strong moves into online sports betting as well. New, digital-first offerings such as PointsBet are taking market share as well.

All in all, its turned into a dogfight. There are winners and leaders in each of the states that have legalized online sports betting.

There are advantages for relatively large firms like DraftKings that can quickly get a big lead when new states legalize online betting. However, the highly segmented market also creates a ton of redundant costs, red tape, and compliance concerns for each company.

DraftKings isnt too worried about its 2021 or 2022 financial results. Of course, every publicly-traded company wants to beat analysts average estimates each quarter. But the focus of online gambling companies is on gaining market share.

Ultimately, the online gambling industry seems likely to be dominated by a few major players. Its imperative that DraftKings maintain its market leadership position so that it can make the right moves when the industrys weaker players step aside. DraftKings needs to have sufficient financial resources and a reputation thats strong enough to be able to snap up its weaker rivals once they look to sell themselves.

If DraftKings makes the correct moves, it, FanDuel and maybe one or two more gaming companies should dominate the sports betting market by the end of this decade. Its simply not feasible for more than 12 companies to all advertise and deal with the sectors risks and compliance issues across dozens of different states. The amount of redundant costs is breath-taking. As a result, mergers and consolidation must happen.

Long-term investors who buy DKNG stock shouldnt mind waiting for this scenario to play out. All signs seem to indicate that DraftKings still has one of the sectors top brands. As long as that remains true, DraftKings has a good shot at eventually becoming the industrys leader.

However, the stock market has changed dramatically over the past six months. Its not enough to have a good story anymore. Now investors are increasingly asking if companies can generate earnings or free cash flow.

And if a firm is not profitable now, investors want them to have a clear path to profitability. Price-sales ratios have utterly collapsed for firms, including DraftKings, that have rapidly expanding revenues but no clear ability to convert those sales into profits anytime soon.

Over the past 12 months, DraftKings produced $1.1 billion of revenue and turned that into $445 million of gross profit. Thats not bad in theory. However, the company had $1.6 billion of sales, general and administrative (SG&A) costs over the same period. Most of that was spent on marketing which was used to get and retain customers. Those sign-up bonuses arent cheap.

Needless to say, if a company has to spend $1.6 billion on marketing and overhead to attract $1.1 billion of revenue, its business model is problematic. Over time, DraftKings should be able to lower its marketing costs as customers become accustomed to the platform and rival gaming companies exit the industry.

Still, that is going to be a multi-year process. Analysts, on average, expect the company to remain firmly unprofitable through at least 2024, if not longer. As long as the market continues to look for profitable or nearly profitable companies, DKNG stock is going to struggle. For investors willing to play the long game, however, the shares may soon be worth a second look.

On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a sizable New York City-based hedge fund. You can reach him on Twitter at @irbezek.

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Why Investors Will Have to Be Patient With DraftKings Stock - InvestorPlace

Getting to legally bet online on the NFL Playoffs in New York? Yes, you didnt dream the last week. It started off great yesterday with the home state Buffalo Bills dominating the New England Patriots to continue their hopeful trek to the Super Bowl in February. Three games are on the schedule for today, with action starting at 1 p.m. ET and continuing well into the night.

Theres no better day to join the party of online betting in the Empire State. There will be nine sportsbooks this year, four of which Caesars, FanDuel, DraftKings, and BetRivers have officially launched and are offering welcome promos for todays NFL action. BetMGM is set to launch tomorrow morning, and PointsBet, WynnBET, Bally Bet, and Resorts World should come soon as well.

To make things as easy as possible, weve compiled every promo code, welcome offer, and bonus you can take advantage of for todays NFL slate. Well also keep this post updated as more pop up. Just click the links below and take advantage of the free money today.

Caesars is a giant in the gambling world, and if youve ever been to Las Vegas out west then youve likely run into their huge casino right on the strip. Following the overturn of PASPA in 2018, they decided to take things country-wide and launch in other markets. Theyre now live with online betting and iGaming in 10-plus states, including New York as of last week.

If youre trying to decide which sportsbook in NY to add based on new user promotions, its a complete no-brainer: The other three books are giving away a few hundred dollars in value, whereas Caesars is giving essentially $3,300. Theyll give you $300 right away just for giving your info (no deposit required), and if you want to deposit, theyll match it up to $3,000. What a deal!

While the other three books are more well-known nationally, dont forget about BetRivers, a very solid option in the New York market. Theyre also live in 10-plus states in the country at this point, and theyre a great option to add if you want to shop odds and always find the best line for a game.

Their offer for Sundays NFL Playoff action is incredibly simple, and itll get you ready quick to place some bets on the three games. Just sign up using the link above and place a deposit. Thats it theyll match that deposit up to $250, which should give you some nice extra funds for the awesome slate of games.

FanDuel Sportsbook is the biggest sportsbook in the country right now, and its for very good reason: They are consistently ahead of the competition with their app and product and offer a ton of cool, different ways to bet. They were the first to launch same-game parlays, which have become a major hit in the betting world thanks to the fun, lottery-style payouts.

While some promos youll see in the market will be around a no-brainer offer like a QB to throw for a single yard, FanDuels moneyline offer isnt quite that at least most days. For today because there are a couple big favorites in the Bucs and Chiefs, its actually an incredible value. Just bet $5 on either of those teams (or any team), and youll get them at 30/1 odds.

DraftKings is a huge name in the gambling space, and theyve been at it for a long time at this point. They originally launched as a daily fantasy sports (DFS) company a decade ago, and when online betting launched in 2018, they quickly decided to get into the sports betting and online casino game. Theyre now live in 10-plus states, including New York as of last Saturday.

The DraftKings offer is essentially the same as FanDuels except just even better value. They upped the game to give out 56/1 odds on any team this weekend, and you can still get it on that low $5 bet. Considering the Chiefs are nearly two-touchdown favorites over the Steelers this evening, getting them as such a massive dog seems pretty great!

As mentioned above, more sportsbooks are coming in New York. Given the importance of odds and line shopping, plus the generous promotions being given out by these books, its wise to add as many as you can.

BetMGM will be next in the game, launching tomorrow. PointsBet is also looking at a very near launch, with the other three coming sometime in 2022.

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All 4 New York Sports Betting Promos for the NFL Sunday Playoffs - The Action Network