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Monthly Archives: June 2022
April sports betting in Virginia was 70% higher than last year – The Center Square
Posted: June 3, 2022 at 12:51 pm
(The Center Square) Online sports betting in Virginia declined from March to April of this year, but Aprils numbers were nearly 70% higher than they were in April of last year, according to numbers released by the sports betting analysis website PlayVirginia.com.
Without football or a big betting event like the first weekend of the NCAA Tournament, sportsbooks traditionally lose steam heading into the summer, Eric Ramsey, an analyst with PlayVirginia parent company PlayUSA, said in a statement.
But the year-over-year gains remain consistently strong, showing that the industry has so far been mostly unaffected by struggles in the greater economy, Ramsey continued. But those headwinds do represent the most significant threat to the relentless growth Virginias sports betting industry has enjoyed since the beginning.
In April, people placed nearly $400 million worth of sports bets in Virginia sportsbooks, which is 69% higher than last Aprils $236.4 million of bets. It is, however, 15% lower than Marchs bets, which amounted to nearly $470 million. There were about $13.3 million bets per day in April, compared to $15.1 million per day in March.
Despite the lower betting numbers in April, sportsbooks made more money. By the end of the month, sportsbooks took in about $36.3 million in gross revenue, compared to $33.7 million in March. Aprils revenue was also 86% higher than it was last year, in which sportsbooks only took in $19.4 million in revenue.
Sportsbooks paid about $3 million in state taxes in April.
There was enough general interest in the NBA Playoffs, the Final Four, and the first month of baseball, among other attractions, to engage bettors in April, Ramsey said. Those opportunities will shrink in the coming months, until football season kicks off. But Virginias young market is well-positioned for another surge this fall.
Online sports betting is less than a year and a half old in the commonwealth. The bets became legal on Jan. 21, 2021 after former Gov. Ralph Northam signed legislation in 2020 to legalize the practice.
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TheScore Bet Exiting US Sports Betting, Will Focus On Canada – Legal Sports Report
Posted: at 12:51 pm
TheScore Bet is leaving the United States with its sports betting product after struggling to make an impact in the market.
TheScore Bet is shutting down its US sportsbook operation July 1, a company spokesperson confirmed Wednesday to Legal Sports Report.The operator will shut down its sportsbook inNew Jersey, Colorado, Indiana and Iowa and will turn its focus toOntario sports betting.
Since Penns acquisition of theScore, the companys plan has been to lead with Barstool Sportsbook in the U.S. and theScore Bet in Canada, given our strong brand equity there, theScore President and COO Benjie Levy said in a statement. With theScore Bet launched and thriving in Ontario, and as we approach a major undertaking this summer with the launch of our proprietary risk and trading service, the timing is right to focus our U.S. efforts on marketing Barstool Sportsbook and our Canadian efforts on marketing theScore Bet.
This move enables us to maximize the value of both brands through our organic media and gaming approach. Key to our strategy is integrating theScore media app with Barstool Sportsbook in the U.S., which were currently working towards. Bringing together theScores powerful sports media platform with Barstool Sportsbook, supported by our in-house technology will strengthen the overall U.S. product offering and broaden its reach.
TheScore Bet will stop accepting wagers on June 15, according to an FAQ on itswebsite.
Bets on events completed before July 1 will remain active. For wagers beyond that date, the company will reach out to bettors directly.
If a user does not withdraw remaining funds before July 1, the company will mail a check or deposit money via another method on file.
The announcement to leave the US also includes a push to Barstool Sportsbook. Both brands are part of the Penn National Gaming portfolio.
Penn National bought36% of Barstool in 2020 for $136 million. The company acquired theScore last year for $2.1 billion.
Barstool Sportsbook is live in 12 states, including the four states theScore is leaving. Penn National plans to shift the Barstool to theScores in-house sports betting platform in the future.
Based in Toronto, the US sports betting exit will allow theScore to focus on sports betting in Canada.
While Ontario regulators have not released sports betting information since the April launch, there are indications the sportsbook is starting well in the province.
Before the commercial online gaming launch, the company already had Canadas most popular sports media app.
While the sportsbook sees success in Ontario, it has not made much of an impact in the US sports betting market.
In April, theScore secured less than 1% market share in Indiana sports betting. In Iowa, Barstool and theScore combined for a5.1% market share in April.
TheScore is the latest sportsbook to either shut down US operations or begin to scale back US sports betting investment.
In February, Churchill Downs announced it was shutting down its online sports betting and casino business. The company had replaced its BetAmerica brand with its TwinSpiresbrand last year.
WynnBet and Caesars Sportsbook also have scaled back their marketing spending in the past year.
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TheScore Bet Exiting US Sports Betting, Will Focus On Canada - Legal Sports Report
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Responsible gambling advocates keeping eye on increasing ‘normalization’ of sports betting – CBC.ca
Posted: at 12:51 pm
CBC Saskatchewan is looking at single-event sports betting in the province. This story is a part of a series examining its impact.
Read Part 1 here, which focuses on a Conservative MP whosays the Saskatchewangovernment has "dropped the ball" onsingle-event sports betting. Hisprivate member's bill paved the way for its legalization in Canada.
Shauna Altrogge says a few thoughts come to mind as she sees the recent proliferation of sports betting ads on television, especially as it relates to youth.
"I think one of them is how socially acceptable gambling has become in our culture, but also to a further extent, how socially acceptable sports gambling has become," she said.
As the director of the Gambling Awareness Program with the Canadian Mental Health Association's Saskatchewan division, it's part of Altrogge's job to educate the public about how to gamble responsibly.
Her organization has called Saskatchewan "a province where gambling is extremely common." It said roughly 75 per cent of Saskatchewan adults gamble and spend, on average, $855 on gambling each year.
Altrogge said when it comes to youth and sports gambling, there are things that concern her organization.She said it's almost seen as a different type of gambling activity thanlotteries, casinos and slot machines.
"There's almost a sense of it's more skill-based. And if I have good team knowledge, good stats on my players, those sorts of things, it will allow me to be successful at it," she said.
"I think what's missing in that piece is that we also have to remember that there is risk and chance involved."
Her other concerns centre around the "fairly robust advertising" for "heavily-promoted" sports betting apps and platforms, as well as the influence of celebrity endorsements.
"I mean, sitting down and watching the hockey game in the evening and you've got little kids consuming those same ads," she said.
"Over time, what effect could that possibly have on our younger folks? When you look at all of those things, it's a bit of a worry."
Elaine McDougall, the director of marketing and communications at the Responsible Gambling Council (RGC), agreed that there is concern about how much exposure children who are sports fans are getting to sports betting ads.
"There's this normalization of sports betting happening as you're seeing all of these ads come in," she said.
McDougall said that this year, as RGC develops its usual prevention programming for youth and schools in Ontario, it is increasing the messaging around sports betting for that exact reason.
RGC and thinktv, a marketing and research association dedicated to the advancement of commercial television, are working on a PSA broadcast campaign around harm prevention and gambling thatMcDougall said will hopefully launch in the fall first in Ontario, and then possibly in other jurisdictions.
"If this is meant to be entertainment, it's important that you know how to place that wager, how to do this in a safe way so that you're not spending money that's intended for rent or groceries," she said.
Sportsnet declined a request from CBC News to provide the number of complaints it has received from the public related to sports betting ads and content during this year's television broadcasts of the Stanley Cup playoffs.
But in an emailed statement, a Sportsnet spokesperson said, "We recognize that sports betting content and advertising represents a change for audiences and we are being thoughtful about the volume and content of the commercial inventory that we are allotting to sports betting partners to ensure we continue to offer a quality viewing experience."
The statement also said Sportsnet is committed to promoting and educating audiences about the importance of betting responsibly, adding a portion of its airtime is dedicated to PSAs and responsible gaming messaging.
When asked about single-event betting ads intended for Ontario audiences that appear on screens in other provinces, Sportsnet said all ads that air nationally include a disclaimer indicating that the products are not available outside of the province-of-origin of the ad.
Kevin Waugh, the MP for Saskatoon-Grasswood whose private member's bill paved the way for legal single-event sports betting in Canada last year, said "it's been a little excessive on the advertising."
"We don't get it in Saskatchewan, but when I come here to Ottawa, my Twitter feed is filled with all these ads," he said.
"Like every third posting. It's gone overboard."
Waugh said he was also "totally shocked" that active professional athletes would sign agreements with gambling companies.
Waugh has also noticed a shift in the way some sports broadcasters will describe game situations.
He said he was watching a baseball game on TV earlier this spring in which it was 6-1 in the late innings and the announcer said, "That's a very important run at second base."
It was a reference to the over/under for the game, he said.
"So it wasn't a very important run for the game, but it was for the bettors," he said.
"I'm a little disappointed in the announcing in North America. A 'very important run' 6-1 in the eighth inning. Are you kidding me? That should never be.
"But media outlets are hungry for extra revenue, extra eyeballs on TV."
Mia Danakas-Weinkauf, a co-owner of Mr. D's Stats Cocktails & Dreams sports bar in Regina, said she has noticed a "great increase" of their customers who ask for specific games to be shown on their TVs and then watch their online bets on their devices.
She said it's a new phenomenon that they didn't really see before the pandemic restrictions. It includes specific requests for matches or sports that never used to be requested, including soccer and tennis, she said.
Danakas-Weinkauf said the change has also prompted her to subscribe to a feed of NFL games.
"I've never actually had to do that before," she said. "Because a lot of the games that were just on, people were just watching. Which means there must be an increase of something that's going on because they ask for specific games."
Danakas-Weinkauf said she really wishes sports bars in Saskatchewan could get directly involved by being allowed to open sportsbooks.
"I'm hoping that something maybe comes up that our government could either enforce or come up with a plan that can help the businesses even more for the losses that we've had," she said.
CBC Saskatchewan wants to hear personal stories from people in the province about their experiences with single-event sports betting. If you are willing to share your perspective in a news story, please email sasknews@cbc.ca.
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Responsible gambling advocates keeping eye on increasing 'normalization' of sports betting - CBC.ca
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Min Woo Lee odds, tips and betting trends for the Memorial Tournament presented by Workday – USA TODAY Sportsbook Wire
Posted: at 12:51 pm
The 2022 the Memorial Tournament presented by Workday is underway, and is in 106th position with a score of +5.
Min Woo Lee has a best finish of 14th, and an average finish of 52nd, in his 11 events during the past year (including no top rounds of the day).
PGA odds courtesy of Tipico Sportsbook. Odds updated Thursday at 10:39 PM ET. For a full list of sports betting odds, access USA TODAY Sports Betting Scores Odds Hub.
Deposit $10, GET $200 INSTANTLY: Get action on this game! Place your legal sports bets in CO and NJ at Tipico Sportsbook. Exclusive USA TODAY Network offer: Deposit $10, get $200 in betting credit instantly. 21+, terms and conditions apply. Bet now!
ESPN+ is the new home of PGA TOUR LIVE. Sign up now to access 4,300+ hours of live coverage from 35 PGA TOUR tournaments this year.
Gannett may earn revenue from Tipico for audience referrals to betting services. Tipico has no influence over nor are any such revenues in any way dependent on or linked to the newsrooms or news coverage. See Tipico.com for Terms and Conditions. 21+ only. Gambling problem? Call 1-800-GAMBLER (NJ), 1-800-522-4700 (CO), 1-800-BETS-OFF (IA).
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Boston Red Sox vs. Oakland Athletics odds, tips and betting trends | June 3 – USA TODAY Sportsbook Wire
Posted: at 12:51 pm
A series opener between the Oakland Athletics (20-33) and Boston Red Sox (24-27) is on deck Friday at 9:40 PM ET, at Oakland Coliseum.
As the favorite, the Red Sox (-135 on the moneyline to win) take the field at the Athletics (+115). The matchup on the mound for this contest is set with the Boston Red Sox looking to Nathan Eovaldi (2-2), and James Kaprielian (0-2) getting the nod for the Oakland Athletics.
The Red Sox defeated the Reds by a 7-1 score in their last game Friday. Alex Verdugo went 2-for-3 with two doubles and two RBI to lead them offensively while Garrett Whitlock picked up the win after throwing six innings without giving up an earned run on five hits.
Friday, the Athletics lost to the Astros 5-4. Dany Jimenez was the losing pitcher after throwing 2/3 of an inning, giving up four earned runs on two hits while striking out one. Elvis Andrus led the Athletics offense, going 2-for-4 with two doubles and two RBI.
Ahead of this Red Sox vs. Athletics showdown, heres what you need to get ready for Fridays MLB action.
Major League Baseball odds courtesy of Tipico Sportsbook. Odds updated Thursday at 2:05 PM ET. For a full list of sports betting odds, access USA TODAY Sports Betting Scores Odds Hub.
Deposit $10, GET $200 INSTANTLY: Get action on this game! Place your legal sports bets in CO and NJ at Tipico Sportsbook. Exclusive USA TODAY Network offer: Deposit $10, get $200 in betting credit instantly. 21+, terms and conditions apply. Bet now!
Place your legal, online sports bets in CO and NJ at Tipico Sportsbook now.
Gannett may earn revenue from Tipico for audience referrals to betting services. Tipico has no influence over nor are any such revenues in any way dependent on or linked to the newsrooms or news coverage. See Tipico.com for Terms and Conditions. 21+ only. Gambling problem? Call 1-800-GAMBLER (NJ), 1-800-522-4700 (CO), 1-800-BETS-OFF (IA).
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Get A Grip The Week In Sports Betting: Plenty In Motion – Sports Handle
Posted: at 12:51 pm
Its information overload everywhere, and theres not time enough to sleep and eat and stay fully apprised of whats happening on this crazy blue dot of ours (two out of three aint bad). Heres the weekend Sports Handle item, Get a Grip, recapping the weeks top U.S. sports betting stories, highlighting some fresh news, and rounding up key stories.
It wasnt a huge news week in the sports betting world, but there appears to be plenty in motion.
Fanatics is signaling that they are getting ready to enter the sportsbook game, Underdog is also inching closer, and Michigan has has entered into the Multi-State Internet Gaming Agreement, which will allow poker enthusiasts in the state to compete against players in New Jersey, Delaware, and Nevada.
Minnesota legislature closes without legal wagering
New Jersey tries to put DraftKings proxy betting case in rearview mirror
Madoff-like sports betting scheme leads to arrest of WSOP bracelet winner
An overview of notable moments during GambetDCs two controversial years of existence
Sportsbooks get creative with pre-game wagers that offer brief and intense engagement
How an obscure form of hyper-local gambling has persevered in a digitized world
TheScore Bet shows responsible gaming education can be funny
Chicago City Council approves Ballys as applicant for downtown casino
New York legal sports wagering eclipses $7 billion in handle
Nevada sports wagering handle slumps to $589 million in April
Colorado sports wagering handle dips to $392 million for April
Tennessee wagering revenue improves slightly in April
Meadowlands owner weighs in on racehorse doping saga
Meadowlands, Monmouth have big summers planned
In Maryland, Mayor Ray Morriss and the Cumberland City Council voted earlier this week to allow a sports gambling establishment within city limits. It appears Morriss is hopeful the city will add a retail betting location, and changes to zoning guidelines were adopted to make that a possibility.
Maryland legislation named 17 entities that would receive retail sports wagering licenses, but there are also an additional 30 retail licenses available for locations across the state through a competitive application process. Maryland also allows for the distribution of 60 mobile sports betting licenses.
Im very hopeful someone in Cumberland will be licensed, Morriss said. I hope the state spreads them out and puts one in Cumberland. I think it would be a great asset to have here. Any kind of entertainment offering that comes to the area can only bring more people and money into our community.
Cumberland is located on the east side of Maryland, near the West Virginia and Pennsylvania borders. Both West Virginia and Pennsylvania offer legal sports betting.
Bennett Conlin
In the last week, theScore Bet rolled out a unique responsible gaming program in Ontario, the Mohegan Tribe in Connecticut donated $2 million to Yale University to combat problem gambling, and the Oregon Council on Problem Gambling opened an RFP for new research opportunities.
While problem and responsible gaming are intertwined, they are distinctly different initiatives addressing different populations. Problem gambling programs work with individuals who are already addicted, while responsible gambling programs provide tools to help consumers identify and prevent problems from developing before they take root. That education, according to advocates, is critical and should be ongoing.
When asked how long operators should advertise responsible gaming initiatives, Keith Whyte, the executive director of the National Council on Problem Gambling, told Sports Handle, Until its effective. How much do we need to make sure that every player in a jurisdiction has seen it and understood the message? You can figure that out by using focus groups and polling, but its probably like a lot of campaigns, like drunk driving you can always reinforce it. There is always a new generation that can hear the message. Its a public health issue.
Jill R. Dorson
In just its eighth month of sports wagering, South Dakota reported its first monthly loss, as bettors came out $13,735 ahead on nearly $370,000 wagered in April.
Retail sportsbooks in Deadwood continued to pay out winning NFL tickets, as operators posted a net loss of nearly $5,400. But where bettors pounded the book was in golf, which had been dominated by the house in the first seven months. Bettors collected close to $32,965 off only $14,295 wagered, resulting in a staggering -133.3% hold for the house.
Prior to April, operators posted an 89.9% win rate in golf, as they paid out only $648 on $6,435 wagered, and there was not a winning wager statewide until February for all of $9. It is the first monthly net revenue loss for a state with legal wagering since Delaware finished $969,519 under in December.
Chris Altruda
NO SURPRISE: College sports eye gambling money amid safeguard concerns [AP]
GET IT TOGETHER: MA bill sits in limbo as House leader wants college sports included [Mass Live]
DONE DEAL: White Hat Gaming strikes deal to provide iGaming content to DraftKings [CDC]
UNDER REVIEW: Iowa Gov. reviewing bill that implements two-year casino moratorium [INN]
NOW THATS A PROMO: Drivers line up for free gas giveaway at Snoqualmie Casino [KOMO News]
HIRED: FanDuel Group appoints Andrew Sheh CTO [Press release]
WORTHY CAUSE: OCPG announces Research Center funding opportunities [CDC]
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Get A Grip The Week In Sports Betting: Plenty In Motion - Sports Handle
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Nicki Minaj Enters The Sports-Betting Space: Why ZK International Group Stock Is Rising – Benzinga – Benzinga
Posted: at 12:51 pm
ZK International Group Co ZKIN shares are trading higher Tuesday after the company announced a partnership with rapper and pop culture icon Nicki Minaj.
Minaj is set tobring her influence to the sports-betting world through a multi-year partnership with MaximBet, a ZK International Group portfolio company. The female rapper willwork with MaximBet on branding, merchandise, creative activations, partnerships and fan experiences thatbring together entertainment, sports, celebrities and betting.
"I'm ready to fully step into my potential as a young, influential Queen and owner and open doors for others to dream big," Minaj said.
ZK International Group has invested $25 million in MaximBet and currently owns a 16% stake in the company.MaximBet is currently live in Coloradoand is on track to launch in nine additional U.S. states, as well as inthe Canadian province ofOntario.
The companypreviously formed a partnership withNBA starDwight Howard and has expressed interestinattracting various artists and talents in similar exclusive deals.
Related Link:NFT Platform Announced By ZK International's XSigma: What Investors Should Know
ZK International Groupis aChina-based engineering company building and investing in innovative technologies for the modern world.
ZKIN Price Action: ZK International Group has traded between 85 cents and $5.64 over a 52-week period.
The stock was up 10.8% at $1.44 at press time, according to data fromBenzinga Pro.
Photo: Wikimedia Commons.
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CEOs of DKNG, AIMLF, NEXCF, MULN Driving Innovation, and Advancing New Multi-Billion Dollar Revenue Growth Opportunities in Sports Betting, EV…
Posted: at 12:51 pm
NEW YORK, June 01, 2022 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from CEOs of: NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR), Mullen Automotive (NASDAQ: MULN), AI/ML Innovations (OTC: AIMLF) (CSE: AIML), and DraftKings Inc. (NASDAQ: DKNG). Todays emerging technologies and lifestyle megatrends are creating billion dollar opportunities for disruptive innovation in how we live, work and play. Wall Street Reporter highlights the latest comments from industry thought leaders shaping our world today, and in the decades ahead:
AI/ML Innovations (OTC: AIMLF) (CSE: AIML) Chairman, Tim Daniels: AI/ML Holds Key Patents for Multi-Billion Dollar Healthcare Wearables MarketAI/ML Innovations (OTC: AIMLF), a featured presenter at Wall Street Reporter's "Next Super Stock" investor conference series, recently updated investors on growth initiatives at AIMLFs portfolio of digital health businesses including HealthGauge, a wearable personal health monitoring & management system, using Artificial Intelligence and Machine Learning, and Tech2Heal a European mental health app innovator.
Of significant interest for investors is AIMLFs landmark patent position for wearable health monitors - which could position AIMLF to collect licensing fees and royalties on the $13.8 Billion global Smart Wearable Healthcare Devices (projected to reach $37.4 Billion by 2028. Source: Verified Market Research.) AIMLF is now starting to license its technologies to health wearables companies, and collecting royalties. With typical royalties of 2% of gross sales, AIMLF could potentially generate significant recurring revenues from companies infringing on its broad patent position in the nearly $14 billion health wearables market.
AIMLFs Health Gauge subsidiary, has recently been granted a patent by the United States Patent and Trademark Office (US Patent No. 11183303), titled "Wearable Health Monitors and Methods of Monitoring Health". The Patent covers Cardiovascular monitoring, Predictive health analysis, Behavioral analysis and 64 other claims, including use of multiple configurations of wearable health monitors, in conjunction with methods of analyzing bio-signals and monitoring health metrics (via Health Gauge's AI-driven software) for the purpose of assisting the user in achieving their personal health and wellness objectives.
Story continues
AIMLF is reporting advancing growth at its portfolio company Tech2Heal, a European mental health app innovator. Tech2Heal is positioned for explosive revenue growth as European healthcare mandates now provide about 2,500 Euro per patient annually for mental wellness. Tech2Heal has just signed with a French multinational manufacturer, to provide mental wellness support to their 170,000 employees globally, and additional Enterprise contracts are in the pipeline. Tim Daniels also updated investors on AIMLs growing pipeline of M&A opportunities in the HealthTech space, which could have a positive impact on maximizing shareholder value in coming months.Watch AI/ML Innovations (OTC: AIMLF) (CSE: AIML) NEXT SUPER STOCK Video: https://www.wallstreetreporter.com/2022/05/31/next-super-stock-ai-ml-billion-dollar-patent/
Mullen Automotive (NASDAQ: MULN) CEO David Michery: Solid State EV Battery Exceeding ExpectationsMullen Automotive (NASDAQ: MULN), an emerging electric vehicle manufacturer reports results of its solid-state polymer battery testing with the Battery Innovation Center (BIC) in Indiana. Testing results from BIC show the solid-state polymer cell, rated at 300 Ah and 3.7 volts, tested at 343.28 Ah at 4.2 volts, exceeding expectation and in line with test tolerance from previous EV Grid test results. MULN CEO David Michery commented: Im impressed with the ongoing performance of the solid-state cell after going through multiple intense testing sessions from accredited testing facilities. The battery has performed exceptionally well, and Im pleased with the results from BIC in Indiana. Testing conducted at BIC, show MULNs solid-state polymer cell coming in at 343.28 Ah at 4.2 volts, which is in line with previously quoted test results from EV Grid. MULN expects this technology, when scaled to the vehicle pack level, a 150-kilowatt hour solid-state battery can deliver over 600 miles of range on a full charge for the Mullen FIVE EV Crossover. Mullen Automotive (NASDAQ: MULN) NEWS: https://www.wallstreetreporter.com/2022/06/01/mullen-automotive-announces-impressive-solid-state-polymer-battery-test-results/
NexTech AR Solutions (OTC: NEXCF) (CSE: NTAR) CEO Evan Gappelberg: On-Ramp to Metaverse & Web 3.0 for $5.5 Trillion E-Commerce MarketNexTech AR (OTC: NEXCF), a featured presenter at Wall Street Reporter's "Next Super Stock" investor conference series, recently shared with investors how NEXCF is emerging as a key player in the $5.5 trillion global e-commerce market transition to web 3.0 and the metaverse. NEXCF Augmented Reality solutions enable to view products in lifelike 3D, in their own living room. This AR shopping experience bridges the gap between the physical world, and what was once a flat 2D online e-commerce experience. NEXCFs AR shopping experience is a game changer for the 5.5 trillion global e-commerce industry (source: Statisa 2022).Watch NEXT SUPER STOCK (OTC: NEXCF) (CSE: NTAR) Video: https://www.wallstreetreporter.com/2022/04/06/next-super-stock-nextech-ar-otc-nexcf-cse-ntar-on-ramp-to-metaverse-web-3-0-for-5-trillion-e-commerce-market/
NEXCF AR solutions create billions of dollars in potential profitability and cost cost-savings for e-commerce leaders by driving +93% increases in click through rate, and -40% reductions in product returns. This value creation and ROI is driving growing demand and industry adoption of NEXCF AR solutions. Nearly 2 billion of the worlds population now shops online. Most importantly, over 72% of e-commerce is now done by mobile phone - a native platform for Augemented Reality apps like NEXCF. Global blue chip brands utilizing NexTech AR, include: Ford Mach EV, Kohls, CB2, Crate & Barrel, Pier 1, and Segway.
NexTechs AR solutions are rapidly becoming a must-have for e-commerce leaders to succeed in todays hyper-competitive market, where even marginal improvements in metrics like click-though and return-rates can mean the difference of billions of dollars to a companys bottom lineWere at an inflection point now, where industry demand and adoption for NexTechs AR is accelerating and going mainstream. As E-Commerce shifts to Web 3.0 and the Metaverse, the demand for AR/3D product models becomes essential. NexTech is emerging as the on ramp to the Metaverse and Web 3.0 for the $5.5 trillion e-commerce industry. With over 200 million product SKUs in e-commerce worldwide - NexTech has a potential revenue pipeline worth billions of dollars in coming years. Watch NEXT SUPER STOCK (OTC: NEXCF) (CSE: NTAR) Video: https://www.wallstreetreporter.com/2022/04/06/next-super-stock-nextech-ar-otc-nexcf-cse-ntar-on-ramp-to-metaverse-web-3-0-for-5-trillion-e-commerce-market/
DraftKings Inc. (NASDAQ: DKNG) CEO Jason Robins Growth Accelerating with New Products and Markets...We're off to a tremendous start in 2022. Customer acquisition in new states has been accelerating while continuing to pay back on a gross profit basis in the two- to three-year time frame. As of today, 10 states are either already contribution profit positive or on track to achieve that milestone in 2022. Overall, we expect DraftKings to be contribution profit positive for FY '22. And if we were to have frozen new state launches at the end of 2021, we expect that DraftKings would have been able to achieve EBITDA profitability as an enterprise in Q4 of this yearwe continue to see rapid expansion of the OSB and iGaming TAM in the U.S. This is being driven by both new jurisdictions legalizing OSB and iGaming as well as continued healthy growth in existing statesAdditional product features and functionality for our mobile sports betting and iGaming apps are driving increased customer retention and monetization as well as improved margins. Many of these benefits are now possible as a result of the migration to our in-house sports betting platform, which gives us the ability to diversify our bet types, optimize our in-game betting features and expand the breadth and depth of our content offeringWe continue to add breadth and depth to our mobile sports betting and iGaming products. As we have mentioned in the past, we believe that the long-term winners in this industry will provide the best product experience to customers.Draftkings Marketplace had another dynamic quarter as interest and demand continues to be strong. We sit at the intersection of Web3 and sports culture as the only company to offer digital collectibles, sports betting, daily fantasy and iGaming products. As the NFT space evolves, the broader DraftKings ecosystem will create more opportunities for our marketplace around utility gamification and custom offers that only we can provide. The fourth quarter featured drops from the Usain Bolt, Rob Gronkowski, Wayne Gretzky, Simone Biles, Tom Brady and Tony Hawk as well as SLAM Logo passes in the soft dome franchiseDraftKings Inc. (NASDAQ: DKNG) Earnings Highlights:https://www.wallstreetreporter.com/2022/03/09/draftkings-inc-s-dkng-q4-2021-earnings-highlights/
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Opinion: The Long, Uncertain Road to Artificial General Intelligence – Undark Magazine
Posted: at 12:50 pm
Last month, DeepMind, a subsidiary of technology giant Alphabet, set Silicon Valley abuzz when it announced Gato, perhaps the most versatile artificial intelligence model in existence. Billed as a generalist agent, Gato can perform over 600 different tasks. It can drive a robot, caption images, identify objects in pictures, and more. It is probably the most advanced AI system on the planet that isnt dedicated to a singular function. And, to some computing experts, it is evidence that the industry is on the verge of reaching a long-awaited, much-hyped milestone: Artificial General Intelligence.
Unlike ordinary AI, Artificial General Intelligence wouldnt require giant troves of data to learn a task. Whereas ordinary artificial intelligence has to be pre-trained or programmed to solve a specific set of problems, a general intelligence can learn through intuition and experience.
An AGI would in theory be capable of learning anything that a human can, if given the same access to information. Basically, if you put an AGI on a chip and then put that chip into a robot, the robot could learn to play tennis the same way you or I do: by swinging a racket around and getting a feel for the game. That doesnt necessarily mean the robot would be sentient or capable of cognition. It wouldnt have thoughts or emotions, itd just be really good at learning to do new tasks without human aid.
This would be huge for humanity. Think about everything you could accomplish if you had a machine with the intellectual capacity of a human and the loyalty of a trusted canine companion a machine that could be physically adapted to suit any purpose. Thats the promise of AGI. Its C-3PO without the emotions, Lt. Commander Data without the curiosity, and Rosey the Robot without the personality. In the hands of the right developers, it could epitomize the idea of human-centered AI.
But how close, really, is the dream of AGI? And does Gato actually move us closer to it?
For a certain group of scientists and developers (Ill call this group the Scaling-Uber-Alles crowd, adopting a term coined by world-renowned AI expert Gary Marcus) Gato and similar systems based on transformer models of deep learning have already given us the blueprint for building AGI. Essentially, these transformers use humongous databases and billions or trillions of adjustable parameters to predict what will happen next in a sequence.
The Scaling-Uber-Alles crowd, which includes notable names such as OpenAIs Ilya Sutskever and the University of Texas at Austins Alex Dimakis, believes that transformers will inevitably lead to AGI; all that remains is to make them bigger and faster. As Nando de Freitas, a member of the team that created Gato, recently tweeted: Its all about scale now! The Game is Over! Its about making these models bigger, safer, compute efficient, faster at sampling, smarter memory De Freitas and company understand that theyll have to create new algorithms and architectures to support this growth, but they also seem to believe that an AGI will emerge on its own if we keep making models like Gato bigger.
Call me old-fashioned, but when a developer tells me their plan is to wait for an AGI to magically emerge from the miasma of big data like a mudfish from primordial soup, I tend to think theyre skipping a few steps. Apparently, Im not alone. A host of pundits and scientists, including Marcus, have argued that something fundamental is missing from the grandiose plans to build Gato-like AI into full-fledged generally intelligent machines.
If you put an AGI on a chip and then put that chip into a robot, the robot could learn to play tennis the same way you or I do: by swinging a racket around and getting a feel for the game.
I recently explained my thinking in a trilogy of essays for The Next Webs Neural vertical, where Im an editor. In short, a key premise of AGI is that it should be able to obtain its own data. But deep learning models, such as transformer AIs, are little more than machines designed to make inferences relative to the databases that have already been supplied to them. Theyre librarians and, as such, they are only as good as their training libraries.
A general intelligence could theoretically figure things out even if it had a tiny database. It would intuit the methodology to accomplish its task based on nothing more than its ability to choose which external data was and wasnt important, like a human deciding where to place their attention.
Gato is cool and theres nothing quite like it. But, essentially, it is a clever package that arguably presents the illusion of a general AI through the expert use of big data. Its giant database, for example, probably contains datasets built on the entire contents of websites such as Reddit and Wikipedia. Its amazing that humans have managed to do so much with simple algorithms just by forcing them to parse more data.
In fact, Gato is such an impressive way to fake general intelligence, it makes me wonder if we might be barking up the wrong tree. Many of the tasks Gato is capable of today were once believed to be something only an AGI could do. It feels like the more we accomplish with regular AI, the harder the challenge of building a general agent appears to be.
Call me old fashioned, but when a developer tells me their plan is to wait for an AGI to magically emerge from the miasma of big data like a mudfish from primordial soup, I tend to think theyre skipping a few steps.
For those reasons, Im skeptical that deep learning alone is the path to AGI. I believe well need more than bigger databases and additional parameters to tweak. Well need an entirely new conceptual approach to machine learning.
I do think that humanity will eventually succeed in the quest to build AGI. My best guess is that we will knock on AGIs door sometime around the early-to-mid 2100s, and that, when we do, well find that it looks quite different from what the scientists at DeepMind are envisioning.
But the beautiful thing about science is that you have to show your work, and, right now, DeepMind is doing just that. Its got every opportunity to prove me and the other naysayers wrong.
I truly, deeply hope it succeeds.
Tristan Greene is a futurist who believes in the power of human-centered technology. Hes currently the editor of The Next Webs futurism vertical, Neural.
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Opinion: The Long, Uncertain Road to Artificial General Intelligence - Undark Magazine
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Oregon is dropping an artificial intelligence tool used in child welfare system – NPR
Posted: at 12:50 pm
Sen. Ron Wyden, D-Ore., speaks during a Senate Finance Committee hearing on Oct. 19, 2021. Wyden says he has long been concerned about the algorithms used by his state's child welfare system. Mandel Ngan/AP hide caption
Sen. Ron Wyden, D-Ore., speaks during a Senate Finance Committee hearing on Oct. 19, 2021. Wyden says he has long been concerned about the algorithms used by his state's child welfare system.
Child welfare officials in Oregon will stop using an algorithm to help decide which families are investigated by social workers, opting instead for a new process that officials say will make better, more racially equitable decisions.
The move comes weeks after an Associated Press review of a separate algorithmic tool in Pennsylvania that had originally inspired Oregon officials to develop their model, and was found to have flagged a disproportionate number of Black children for "mandatory" neglect investigations when it first was in place.
Oregon's Department of Human Services announced to staff via email last month that after "extensive analysis" the agency's hotline workers would stop using the algorithm at the end of June to reduce disparities concerning which families are investigated for child abuse and neglect by child protective services.
"We are committed to continuous quality improvement and equity," Lacey Andresen, the agency's deputy director, said in the May 19 email.
Jake Sunderland, a department spokesman, said the existing algorithm would "no longer be necessary," since it can't be used with the state's new screening process. He declined to provide further details about why Oregon decided to replace the algorithm and would not elaborate on any related disparities that influenced the policy change.
Hotline workers' decisions about reports of child abuse and neglect mark a critical moment in the investigations process, when social workers first decide if families should face state intervention. The stakes are high not attending to an allegation could end with a child's death, but scrutinizing a family's life could set them up for separation.
From California to Colorado and Pennsylvania, as child welfare agencies use or consider implementing algorithms, an AP review identified concerns about transparency, reliability and racial disparities in the use of the technology, including their potential to harden bias in the child welfare system.
U.S. Sen. Ron Wyden, an Oregon Democrat, said he had long been concerned about the algorithms used by his state's child welfare system and reached out to the department again following the AP story to ask questions about racial bias a prevailing concern with the growing use of artificial intelligence tools in child protective services.
"Making decisions about what should happen to children and families is far too important a task to give untested algorithms," Wyden said in a statement. "I'm glad the Oregon Department of Human Services is taking the concerns I raised about racial bias seriously and is pausing the use of its screening tool."
Sunderland said Oregon child welfare officials had long been considering changing their investigations process before making the announcement last month.
He added that the state decided recently that the algorithm would be completely replaced by its new program, called the Structured Decision Making model, which aligns with many other child welfare jurisdictions across the country.
Oregon's Safety at Screening Tool was inspired by the influential Allegheny Family Screening Tool, which is named for the county surrounding Pittsburgh, and is aimed at predicting the risk that children face of winding up in foster care or being investigated in the future. It was first implemented in 2018. Social workers view the numerical risk scores the algorithm generates the higher the number, the greater the risk as they decide if a different social worker should go out to investigate the family.
But Oregon officials tweaked their original algorithm to only draw from internal child welfare data in calculating a family's risk, and tried to deliberately address racial bias in its design with a "fairness correction."
In response to Carnegie Mellon University researchers' findings that Allegheny County's algorithm initially flagged a disproportionate number of Black families for "mandatory" child neglect investigations, county officials called the research "hypothetical," and noted that social workers can always override the tool, which was never intended to be used on its own.
Wyden is a chief sponsor of a bill that seeks to establish transparency and national oversight of software, algorithms and other automated systems.
"With the livelihoods and safety of children and families at stake, technology used by the state must be equitable and I will continue to watchdog," Wyden said.
The second tool that Oregon developed an algorithm to help decide when foster care children can be reunified with their families remains on hiatus as researchers rework the model. Sunderland said the pilot was paused months ago due to inadequate data but that there is "no expectation that it will be unpaused soon."
In recent years while under scrutiny by a crisis oversight board ordered by the governor, the state agency currently preparing to hire its eighth new child welfare director in six years considered three additional algorithms, including predictive models that sought to assess a child's risk for death and severe injury, whether children should be placed in foster care, and if so, where. Sunderland said the child welfare department never built those tools, however.
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