Category Archives: Gambling

Here, we take a look at three professional, very successful athletes who have struggled for some time with gambling addictions. Unfortunately, gambling addiction is not uncommon among professional athletes. While many athletes enjoy such activities from time to time, this hobby may turn into an issue before it becomes a full-blown gambling addiction. This leads to other issues primarily financial problems that stem from an urge to invest money in gambling activities despite being aware of the risks.

Professional athletes are not immune to such issues and this is especially true for John Daly, Michael Jordan, and Pete Rose. Before we discuss this further, consider turning to CrushingCasinos New Zealand that brings you expert guides on various types of online casino games, reviews on online casinos, and even great tips and tricks for staying on the right track and taking care of your bankroll. Now, lets see how and when great John Daly, Michael Jordan, and Pete Rose gambled thousands on gambling.

John Daly

Many professional athletes struggle or have struggled with a gambling addiction and one of them is John Daly. Born in 1966, John Daly is a professional golfer with eighteen professional wins, one PGA Championship title won in 1991, and numerous other successes. In addition to winning the PGA Championship 1991, Daly is also known for winning pro events in Canada, Turkey, South Korea, Germany, and Scotland.

After retiring from playing golf professionally, the legendary golfer focused on writing and recording music. Back in 2006, John Daly revealed to the public that he has struggled with a notorious gambling addiction. In his autobiography, he revealed that he has lost between $50 and $60 million over a period of fifteen years between 1991 and 2007. Daly also revealed that he lost over $1.6 million in several hours back in 2006. When compared to other pro athletes with the same gambling issues, Daly has lost the most.

Michael Jordan

Michael Jordan or great MJ is another highly successful professional athlete born in 1963. Today, he is the owner of the NBA Charlotte Hornets while back in the day, he won six championships with his team Chicago Bulls. Dubbed as the greatest basketball player, Michael Jordans amazing game has helped with the popularization of the biggest basketball league in the world and inspired thousands of people beyond basketball to great success.

However, after his retirement, Air Jordan turned to gambling. He revealed that one night back in 1993 he gambled $165,000 at a casino in Atlantic City. He also admitted that he used to gamble on everything including golf matches, card games, and classic table games. It is also not uncommon for MJ to participate in high-stakes gambling activities with other pro athletes including Charles Barkley.

Pete Rose

We can complete this article without mentioning Pete Rose. Born in 1941, the legendary Pete Rose is a professional baseball player who played in MLB (Major League Baseball) from 1963 up to 1986. He is also known as one of the Cincinnati Reds managers. During his fruitful career, Pete Rose won three batting titles, three World Series Rings, two Gold Gloves, among many other titles. Several years after retiring, Pete Rose was included on the permanently ineligible list after it was revealed that he had wagered on baseball while actively playing and leading the Cincinnati Reds.

It was also revealed that Rose gambled around $10,000 daily back in 1987 and many believed that he wagered against the Cincinnati Reds even though no evidence was ever found. As a result of his gambling addiction, one of the greatest baseball players of all time was banned from the Baseball Hall of Fame and he is the only player on the ineligible list.

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Three Pro Athletes That Had Horrible Gambling Addictions - The Sports Bank

Gambling legislation in the US is all over the place. States regulations on what is legal and what is not are so different that one would probably need an entire life to learn them. For the most part, gambling laws are as dull but some gambling laws are so absurd and bizarre it is actually fascinating.

#1 Alabama: No Sunday Gambling

Alabama is arguably among the most religious states in the country, so it is not surprising that Sundays are sacred there. Spending time with ones family is a nice tradition, except for people whose idea of fun family time is a poker or bingo night. There is an old law in Alabama (which has not been repealed or amended so far) that bans all forms of gambling on Sundays. The fines for breaking it are not too high, but you may still be expected to pay up to $100.

#2 Florida: Horse Races Are Fine, but No NFL Betting

Gambling laws across the US are nothing if not inconsistent. For example, in Florida, it is legal to bet on horse racing and several other obscure sports, while the NFL is off-limits.

#3 Michigan: No Better Place to Gamble than a Retirement Home

This one is more of a fun trend than a law. Most Americans have to use foreign-owned online casinos to play legally on the territory of the US. Luckily, both traditional and online gambling is legal in Michigan (not for the opponents lack of trying). Understandingly, gambling providers are going out of their way to promote what they do. One of the most common types of gambling marketing is advertising in retirement homes, a stronghold of bingo lovers.

#4 Oklahoma: Women Cannot Gamble Half-Naked

The entire US is notorious for the harsh indecent exposure laws, but this bizarre legislation in Oklahoma is more about gender inequality. It is illegal for a woman to walk into a gambling institution of any kind if she is in lingerie or a towel. The regulation specifically concerns women. Apparently, the state of Oklahoma is okay with men in a towel but not women. By the way, it is not said if women are banned from playing when wearing only a towel or if a dress with a towel thrown over the shoulders is still a no-go.

#5 West Virginia: No Outhouse Gambling for Taverns

This law probably dates back to the times when it was common for tavern and hotel owners to host illegal gambling events. According to the state government of West Virginia, hotels and taverns cannot allow poker matches or any other gambling activities in their outhouses. Looks like West Virginian gamblers of the past did not have it easy. Otherwise, why would the government have to ban outhouse gambling specifically?

#6 Kentucky: Feel Free to Sue the Winner

No one likes a sore loser, except maybe the state of Kentucky. According to the law, anyone who has gambled away $5 or more and claims to have been wronged can take the winner to court. What is more, if the loser does not do so within six months, anyone else can demand the money from the winner instead. You would still have to prove that wrongdoing took place, though.

#7 Texas: Anything but Poker

The state government of Texas has something against poker. It is legal to operate bingo events, lotteries, and basically everything else. But if you want to open a poker room, you are in for trouble. This looks like one of those laws that should have been amended decades and decades ago, but no one bothered. In any case, it would be nice to find out what the story is behind Texass hatred for poker.

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7 of the Weirdest Gambling Laws in the US - South Florida Reporter

During the pandemic, the number of people accessing online gambling platforms has surged.

Brick-and-mortar casinos were closed for a time and people stuck at home were looking for ways to escape stress and boredom.

Sports betting and other online gambling options are illegal in Minnesota, but that doesnt stop people from accessing tens of thousands of gambling websites.

Some gambling addiction counselors worry that the expansion of online platforms, the monetization of online gaming and the pressures of the pandemic are making it easier than ever for people to slide into destructive patterns.

When does placing a bet on a basketball game turn from a bit of fun into a serious problem that can wreck finances and jeopardize relationships?

At 11 a.m. Monday, host Angela Davis will talk to two guests about what they see and how to help.

We want to hear from our listeners. Have you or someone you care about been spending more time and money gambling online? What problems has this created in your life? Call 651-227-6000 or 800-242-2828 during the 11 a.m. hour or tweet @AngelaDavisMPR to join the conversation.

Guests:

Lisa Vig-Johnson is an addiction counselor specializing in gambling addiction. She runs the program Gamblers Choice based in Fargo, North Dakota.

Subscribe to the MPR News with Angela Davis podcast on: Apple Podcasts, Google Podcasts, Spotify or RSS.

You make MPR News possible. Individual donations are behind the clarity in coverage from our reporters across the state, stories that connect us, and conversations that provide perspectives. Help ensure MPR remains a resource that brings Minnesotans together.

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The lure of online gambling during the pandemic - Minnesota Public Radio News

Three men, including one Los Angeles Police Department officer, were implicated in an illegal football gambling operation and are scheduled to be arraigned on felony charges of bookmaking later this month, authorities announced Friday.

Officer Robert Felix, 50, Francisco Martin Del Campo, 51, and Gabriel Martin Del Campo, 52, allegedly orchestrated the gambling operation in which participants placed high-dollar bets on the outcome of the National Football League's Super Bowl, according to an LAPD statement.

All three are facing two counts each of felony bookmaking filed by the California Department of Justice's Fraud and Special Prosecution Section on Wednesday. They are scheduled to be arraigned in a Pomona courtroom on April 22.

Both the DOJ and LAPD declined to answer questions about the size of the bets involved or the overall dollars at stake.

Felix is a 13-year veteran of the police force and was last assigned to the LAPD Transit Services Division, according to a police statement. He is currently assigned to his home with no police powers.

Sports betting is allowed in more than a dozen states, including New York and Oregon, but a plan to put legalized betting before California voters on the November 2020 ballot failed last summer. The effort -- expected to be revived in 2022 given hundreds of millions in revenue at stake -- was opposed by Native American casino interests, among others.

The LAPD's Special Operations Division, part of the Professional Standards Bureau, is responsible for looking intoalleged employee misconduct and partnered with the DOJ's Bureau of Gambling Control and the state's Department of Alcoholic Beverage Control on the investigation.

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LAPD Officer Implicated in Illegal Super Bowl Gambling Operation - NBC Southern California

It has been over two decades since casinos also found their way to the internet. A lot has changed since the 90s and today, there are just so many online casinos to choose from. However, technology never ceases to advance and today, a new gambling sector is on the rise and this is cryptocurrency gambling.

Well, cryptocurrency gambling isnt exactly new but it is still in its infancy. It was in 2008 when the first successful cryptocurrency, Bitcoin, was created. It was only since then when altcoins existed. Initially, people with Bitcoin didnt have much to do with it. It took a few years before people gained interest in its use. It took a while before the Best online betting site in India started to accept it as a payment option.

Today, however, the story is different. Bitcoin has gained quite a reputation and suddenly, more people and businesses are interested in its use. Bitcoin and altcoins are now being used on different platforms online but many are using them on online casinos and bookies.

The Rise of Bitcoin and Bitcoin Gambling

While Bitcoin has been around since 2008, its safe to say that it got more attention in 2017 when its value peaked at around 20,000 US dollars. As soon as its value peaked, people were quick to giving it more attention. However, it took a few years for the all-time high value to be beaten and so, people were also quick to somehow forget about it.

However, things once again changed last year (2020). After three years, Bitcoin was finally able to beat its all-time high. This time, people went crazier about it because today, its value is already playing around 55,000 to 60,000 US dollars.

What has happened and is happening to Bitcoin is something that many are also hoping for altcoins. And so, more than ever, more people are creating cryptocurrency wallets. They are not just investing in Bitcoin but also in altcoins like Ethereum, Ripple, Cardano, and many more.

Now, the more people create cryptocurrency wallets and invest in different coins, the more likely businesses will also use cryptos. If there are already a few online casinos that have already started to accept it as a payment method, we can only expect that more online casinos and bookies will follow suit.

This has already been happening like today, there are even online casinos that only cater to cryptocurrency users.

The Benefits of Using Cryptocurrencies in Gambling

Using cryptocurrencies in gambling can be beneficial to both gamblers and casino or bookie operators. For the operators, its a lot cheaper for them to process cryptocurrency payments compared to processing payments made with fiat currencies. They also dont have to worry about fiat currency exchange rates as their customers around the world can use Bitcoin as it is.

Since it is generally cheaper to run a Bitcoin casino, it could only positively affect their players or customers. A casino or bookie could then afford to offer more generous promos and bonuses compared to traditional online casinos.

Aside from the promos and bonuses, players are also choosing to gamble with cryptocurrencies for privacy. When paying with cryptos online, there is no need to disclose any personal or banking information. A wallet address and/or destination tag are only needed.

This is why no-registration online casinos would usually only have cryptocurrency as a payment option. Its because they are after customers who want to gamble privately and anonymously. Security is also not an issue because cryptocurrencies run on the blockchain. Its quite impossible to manipulate crypto transactions and its also easy to trace crypto activities.

Generally, cryptocurrency transactions are also faster to process because it is a decentralized asset. This means that all transactions are always end-to-end. Unlike banks, approvals and going through necessary channels are not necessary when using coins.

The Future

Many experts are saying that Bitcoin would still peak before the year ends and this is why this year may still be a good time for people to invest in it. Such predictions push people to give cryptos more attention and we can only expect that the crypto market will get bigger this year. With that, more businesses will adopt its use. More casinos will accept Bitcoins and altcoins too.

The benefits of using cryptocurrencies make people strongly believe that it is the future of all online transactions. Still, people should understand how cryptos work. Its much different from fiat currencies as cryptos are known to be extremely volatile.

Link:

Cryptocurrency Gambling Guide: Why Bitcoin Casinos are on The Rise - The Sports Gambling Podcast

NetworkNewsWire Editorial Coverage:

NEW YORK, April 9, 2021 /PRNewswire/ -- Before COVID-19 transformed the world, many sectorswere already moving toward digital adoption and adaption; the global pandemic has hastened that transition in many ways. The world revolves around smartphones, laptops, computer and digital devices as almost anything can be done onlinefrom seeing a doctor to attending school. Even as hope for the pandemic ending surges, the trend to live life online is likely here to stay. The founders of Lottery.com (Profile), which recently entered a definitive merger agreement with Trident Acquisitions Corp. (NASDAQ: TDAC)to become a publicly listed company, recognized the shifting trend years ago and were pioneers in addressing the untapped online global lottery market. The company has found a way to combine blockchain with other cutting-edge technology to provide at-home lottery participation, with the end goal of being a leader in the huge lottery and sports betting markets. Now the company is timing its entrance into another hot public market: investor appetite for special purpose acquisition companies, or SPACs. The gambling space could see unprecedented growth as the pandemic eases and the economy recovers. Some of the big players in the space have online options and are looking to benefit from all things digital. Boyd Gaming Corporation(NYSE: BYD) offers B Connected Online, a robust, attractive online player community. Caesars Entertainment Inc.(NASDAQ: CZR)has Caesars Casino & Sportsbook where users can participate in world-class casino games and wager on sports. Wynn Resorts Limited's(NASDAQ: WYNN)WynnBET is a premier casino and sports betting app that was just awarded an online sports betting permit in Virginia, and Las Vegas Sands Corp. (NASDAQ: LVS)is reportedly eyeing online betting opportunities.

Click hereto view the custom infographic of theLottery.com editorial.

Mind-Boggling Numbers

Multibillion-dollar markets are compelling opportunities, and that is certainly true of the $138 billionglobal video games or $158 billionSoftware-as-a-Service (SaaS) sectors. However, even more attractive is the $398 billion global lottery market larger than the global video games and SaaS markets combined. Even more mind boggling are the projections that the global lottery market will reach $625 billion by 2025.

Despite the numbers, the opportunity is often unrecognized as long-held patterns of buying lottery tickets at a retail point of sale may seem hard to change. With less than 3% of global lottery sales made online, the challenge is evident, but the potential is vast: that's only an estimated $12 billion market penetration into a nearly $400 billion industry. With an increase in online activity seemingly inevitable, the possibilities of growth and return seem appear significant.

A Winning Proposition

Relying on blockchain technology, Lottery.comis paving the way for a new digital world by creating a global marketplace for games of chance. One of the most recognized players in the space, Lottery.com is a leading provider of global lottery data with a varied product offering. The company's online platform and mobile application provide an ideal avenue for users to play state-sanctioned lottery games anywhere, simply through their digital devices. The appeal of the service is clear; in 2020, Lottery.com reached a milestone, selling more than one million Powerball and Mega Millions tickets.

Lottery.com is working closely with state organizations to bridge the gap between retail and digital sales. Currently Lottery.com operates in 12 states; plans are in place to expand to six more in 2021 and to be operational in 34 states by the end of 2023. The company's technology is designed to be turnkey, with blockchain as a digital ledger that enables users to securely play from a selection of sanctioned games, track winning numbers and jackpot totals, and access winnings in accordance with state laws. And as with retail lottery prizes, players receive 100% of the winnings.

How does Lottery.com win? The company receives revenue primarily from service fees paid by app users and subscription fees for lottery data access from digital publishers and other data consumers. The company is already a top lottery data service provider, with more than 400 customers, including well-known names such as Google and Amazon. Lottery.com charges a subscription fee to its data clients plus a per-record fee for certain data sets; the model results in a margin that usually lands between 75%95%.

The company has a spectrum of other business-to-consumer (B2C) and business-to-business (B2B) products that range in margin from 17% to 54%. These include a robust API platform for selling lottery tickets, domestic and international lotteries, international games, charitable sweepstakes and an innovative user subscription program that provides premium market data and exclusive, members-only lottery pools.

SPACs: The Hot Investment Trend

Lottery.com previously announced a definitive agreement to go public through a business combination with Trident Acquisitions Corp. (NASDAQ: TDAC), a SPAC that raised money through an IPO exclusively for the purpose of acquiring a private company. It is anticipated that the resulting company will trade on NASDAQ under the ticker LTRY. SPACs are a hot investment trend right now. A recent Business Insider articlereported that $166 billion in SPAC deals took place in the first quarter of this year, more than 2020 combined. The opportunity appeals to a broad range of savvy investors looking to for a quick entrance into the public domain.

The planned Lottery.com merger is particularly noteworthy, given the company's management team, which includes successful serial entrepreneurs. In addition, the company's list of investors and advisors who are betting big on the digital gaming market is equally impressive, including names such as Senator Mark Lipparelli (former chairman of Nevada Gaming Control Board and current chairman of Galaxy Gaming) and Paraag Marathe, president of the San Francisco 49ers Enterprises.

Winning Together

In addition, the online lottery pioneer is growing revenue through an eye-catching suite of services (effectively an e-commerce platform) and a data library packed with next-generation blockchain technology. The numbers alone speak to the power of the opportunity, with gross revenue rising at a compound annual growth rate of 363% from 2016 to 2020 as a strong foundation was being carefully and deliberately built. Management expects the trend to continue, with gross revenue forecasts estimated at approximately $71 million this year, $279 million in 2022 and $571 million in 2023.

Gross revenues aren't the only objective for this company that is looking to be a leader. Lottery.com is committed to social impact as well, having just launched WinTogether, a program that allows players to donate to qualified causes while entering sweepstakes to win luxury prizes or once-in-a-lifetime experiences. The program's inaugural campaign supported the Time for Trees(R) initiative where the winning participant could win a Tesla Cybertruck.

With a broad vision in place, Lottery.com is moving forward with high expectations that, as the digital trends continue to grows, digital gaming will be a winning ticket.

Playing the Betting Game

As the move to online living continues to touch every part of everyday living, the ability to play the betting game lottery, sports, games and more is certain to grow as well. Smart companies in the space see the writing on the wall and are launching into the space.

Boyd Gaming Corporation's(NYSE: BYD)B Connected Online is the "best in sports betting right on your mobile device," touts the company. The app allows users to wagers on all types of sports from football and basketball to tennis and golf, with the touch of a finger. Users can place straight bets, parlays, round robins or teasers; the app also enables users to view real-time scores, propositions and odds and access convenient account funding and access to winnings.

Caesars Entertainment Inc.(NASDAQ: CZR) calls its online offering a "sports book in the palm of your hand." With Caesars Sportsbook, users enjoy a convenient way to place a sports wager anytime, anywhere the mobile sports app is approved and legal. Users can skip the lines and experience sports wagering using either an iOS or Android device. The app provides a way for users to wager securely and in real time; rewards can be redeemed anywhere in the Caesars Entertainment network, including hotels, restaurants, bars, etc.

Wynn Resorts Limited(NASDAQ: WYNN)just announced that it has been issued a permit for the operation of online sports betting in Virginia, the 10th state to be added to the growing list of jurisdictions where WynnBET plans to launch. The WynnBET mobile app will soon be made available to sports betting enthusiasts for registration and use throughout the state. Inspired by Wynn Resorts sophisticated brand experience, the WynnBET app offers an ultra-intuitive and highly responsive interface that delivershundreds of sports betting options to delight both aficionados and beginners alike.

Las Vegas Sands Corp. (NASDAQ: LVS) is reportedly eyeing online betting opportunities. A Bloomberg article reported that Las Vegas Sands Corp.has had discussions with potential partners in the fast-growing field of sports betting, "setting the stage for a major shift in the company's strategy, according to people familiar with the situation. Robert Goldstein, acting chief executive officer, is in the early stages of talks, but plans could involve using the Sands brands or the broader development of a betting platform by the company, said the people, who asked not be identified because the discussions are private."

With online gambling markets seemingly a clear indicator of interest and potential, the online lottery space appears to be a play worth considering as investors eye the future of gaming.

For more information about Lottery.com, please visit Lottery.com.

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Big Plays in the Online Gambling Space - PRNewswire

Bobby Jones, the amateur golf great, profited handsomely from his unprecedented exploits in 1930, the year in which he completed the Grand Slam of his era. Thanks to his improbable sweep of the Open and Amateur championships in the U.S. and Britain, Mr. Jones cashed in with a lucrative motion-picture deal, among other opportunities.

Scottish golfer Bobby Cruickshank did OK, toothanks to Mr. Jones.

When Mr. Jones captured the third leg of the Slam in July at the U.S. Open at Interlachen, in Minnesota, Mr. Cruickshank cashed a betting slip worth $10,500, a tidy windfall on the $50 he risked in April with a broker in London, the Associated Press reported at the time. Mr. Cruickshank had wagered that Mr. Jones would win the years first three majors. I saw Bobby win the Savannah Open, knew the shape he was in, and made the best bet of my life, Mr. Cruickshank said in the article.

Gambling in golfor on itmight not be as old as the gutta-percha ball that became popular with golfers in the 19th century (though then again, it might), but wagering on the sport is about to explode in ways that will make your office pool seem quaint, confining and, potentially, relatively paltry.

In the wake of a 2018 U.S. Supreme Court ruling that struck down a federal law regulating sports betting in several states, wagering on sports has exploded. Between June 2018the month after the high court ruled 6-3 that the Professional and Amateur Sports Protection Act was unconstitutionaland November 2020, more than $35 billion was legally wagered on sports nationwide, and sports books raked in $2.5 billion in revenue, according to the American Gaming Association. Before the ruling, the association estimates that at least $150 billion annually was gambled on sports in the U.S.and 97% of that was bet illegally.

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Gambling on Golf Is About to Explode - The Wall Street Journal

Ryan Rich Fat Baby McKee, Munaf The Machine Manji, Terrell Raising Hell Furman Jr., Jong All Day Long Wong,and more of the SGPN #DegensOnly Crew get together live on the Locker Room app. TheNBA Gambling Podcastgroup chat centers around NBA picks today (Friday, April 9, 2021). They discuss best bets, player props, totals, 1st quarter and 1st half lines to grab, and lots more. Listeners get to join in on the livestream via audio or in the live chat feature. Lots of fun perspectives in this episode.

Games included in the April 9 episode are Indiana Pacers (-4.5) vs Orlando Magic; Minnesota Timberwolves vs Boston Celtics (-8.5); Memphis Grizzlies (-1) vs New York Knicks; Philadelphia 76ers (-7.5) vs New Orleans Pelicans; Chicago Bulls vs Atlanta Hawks (-2); Charlotte Hornets vs Milwaukee Bucks (-8.5); San Antonio Spurs vs Denver Nuggets (-8.5); Washington Wizards vs Golden State Warriors (-4.5); and Houston Rockets vs Los Angeles Clippers (-13). Lines may move before tip off due to injury reports and trends.

Make sure to subscribe to NBA Gambling Podcast on Apple and Spotify. Check Ryan McKee, Zach Broner, Dan Titus, and Munaf Manjis updated against-the-spread NBA picks today and EVERY DAMN DAY at SG.PN/nbapicks.

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NBA Picks Today, Fridays Parlays and Group Chat | NBA Gambling Podcast (Ep. 156) - The Sports Gambling Podcast

Companies with a presence in online gambling have taken the traditional gambling world by storm over the past year. Caesars Entertainment, MGM Resorts, Wynn Resorts and others with decades of operating history have been thrown by the wayside in favor of relatively new entrants that are still yet to become household names.

DraftKings, Rush Street Interactive, Golden Nugget Online Gaming, and even Penn National have been the hottest online gambling stocks and now have valuations that rival some of their Las Vegas Strip peers. So, should your bets be on one of the newcomers or an established name in gambling? Let's take a look at the industry today.

Image source: Getty Images.

To frame the comparison of online gambling companies, it's important to look at where the main players stand today. You can see below that DraftKings is by far the biggest online gambling company by revenue and valuation at Friday morning's prices, but Rush Street Interactive and Golden Nugget Online Gaming are growing quickly.

Data source: Company filings and Google Finance. TTM = trailing 12 months.

The table shows just how wild valuations have gotten in the online gambling business. DraftKings in particular is trading at more than 25 times 2021 guidance, and the company is far from profitable. Rush Street Interactive trades for a comparatively modest 12 times last year's sales, and Golden Nugget trades for 14 times.

Penn National has been another hot online gambling stock after partnering with Barstool Sports last year. But it has barely started rolling out its online gambling strategy, so it's hard to judge the business today.

What you'll notice is that there's no shortage of competitors in the market and no one is actually making a profit in online gambling. So what should investors be looking for?

Like most tech stocks, scale is going to be everything for online gambling, so taking market share early will be critical. Building games and being approved by regulators requires upfront fixed costs, but variable costs will be extremely low because online gambling is simply a cloud technology platform.

Where we could see the most leverage is in sales and marketing expenses. Right now, DraftKings and MGM Resorts seem to be building partnership networks with major sports leagues and high-profile partners that aim to drown out the competition. To keep up, smaller online gambling sites will need to offer more user incentives, better odds, differentiated games, or other innovations that can attract consumers.

The big betting sites aren't the only ones involved in online gambling.Gan Ltd.is a solutions provider for most of the major online gambling sites. The company has built a suite of products that include customer account management, regulatory reporting, payment services, identity verification, and proprietary games. The company's revenue was just $35.2 million in 2020, but management expects 2021 revenue of $100 million to $105 million as partnerships with Wynn Resorts, Churchill Downs, Penn National, and many others start to kick in. This is a company that can ride the wave of online gambling growth without taking the risk on one operator winning long term.

FuboTVis another company that's looking to leverage its sports viewing audience into a sports betting business. The company says it will launch a sportsbook this year and that could lead to additional revenue. But it's still unclear exactly what role FuboTV will play in this increasingly competitive market.

There are a lot of other stocks traded in the U.S. or abroad that could also play a big role in online gambling. The Stars Group, Flutter Entertainment, Entain, 888 Holdings, Genius Sports, and many more play a role in online gambling around the world. But here I've focused on the main U.S. traded stocks that I think have the potential to grow.

Given that scale is important in online gambling and companies aren't making money yet, there are two stocks that stand out as winners to me in this space: MGM Resorts and Gan Ltd.

MGM Resorts is one of the market leaders in every state where it's licensed, and it's expanding as quickly as any online gambling operator. And it has partnerships with the NBA, MLB, NHL, MLS, Nascar, PGA Tour, Buffalo Wild Wings, Topgolf, and more. It's flooding the market and has the capital to capture a large share of it.

The other stock I like is Gan. The company has the benefit of being able to grow along with smaller operators like Penn National, Wynn, Churchill Down, and others, so it's a bet on the overall industry growing. And it offers the underlying technology and services that all betting companies will need without taking the risk of taking bets itself.

Online gambling is a hot business today, but sometimes the highest-flying stocks won't be the long-term winners. I think MGM Resorts and Gan offer the best balance of low risk with a lot of upside reward as the industry grows.

This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Continued here:

The Best Bets in Online Gambling - The Motley Fool

The gambling known as business looks with austere disfavor upon the business known as gambling.

Ambrose Bierce, American writer

Hello Downriver,

With the pandemic dominating the news and our lives, we run the risk of other things slipping through the cracks.

Such as

Are you at all disturbed by the almost overnight splash of online gambling?

Not just in our state, but across the country and more specifically, in our sports?

Im not anti-gambling; like anything else, taken in moderation, it can be a fun form of entertainment.

But my concern is about its complete absorption into the sports scene particularly in professional sports, which is now not only being sponsored by gambling companies, but the leagues have been selling data to those companies.

According to published reports, DraftKings, FanDuel, William Hill, MGM Resorts, Caesars Entertainment and Betstars are among gambling companies that have reached individual deals with leagues to buy their official data.

An interesting arrangement, given that these leagues have historically punished their players for being involved with gambling, but now see no problem being in bed with gambling whether it be the spate of online books or simply collaborating with and promoting fantasy leagues in which money is at play.

But since this horse has long left the barn, run down the hill and galloped into the next county, I have a different take: Forget the gambling (its here to stay), and reinstate those players who were punished down through the years for being in cahoots with the same entities that the leagues are in cahoots with today.

To use the vernacular of todays social scene, I suppose this would be a cancel culture moment, but I really dont care.

Its still hard to imagine Pete Rose not being in the baseball Hall of Fame for betting, when the league in which he played is now knee-deep in collaborating with betting houses.

But dont take it from me: This is what Kenny Gersh, vice president of gaming and new business ventures for Major League Baseball (like that title?), had to say a year ago!

Baseball has always been a statistics-driven sport: Are the pitches breaking as much in the third inning as they were in the first inning? Whats the spin rate?

We spent all this time and money to develop and implement this.

Now, we can market betting products off of that data, he said. My hope for baseball is that betting evolves, that you can make micro-bets: Is Aaron Judge going to hit a home run off Chris Sale in the seventh inning? What are the odds of that happening? We can market those tools so that sports books can offer a better product.

Yet Pete Rose is on the outside looking in?

Which makes this quote all the more hypocritical: There are four key objectives for the NFL when it comes to legal sports betting: integrity, brand, fan engagement, and commercial opportunity.

That quote was from Chris Halpin, the NFLs executive vice president and chief strategy and growth officer.

But how in the world can you ensure integrity when your goal is commercial opportunity?

In short, you cant: when money starts talking, any other conversation is muted.

Which is why MLB came down hard on Rose, but has no problem chasing bucks with those same gambling interests: Integrity was applied to Rose, but commercial opportunity is being applied to the league.

So, as long as the league profits, its all good.

And therein lies the core argument for the various sports leagues from the big four (baseball, football, basketball and hockey) to NASCAR and the PGA: If you cant beat em, join em.

Besides, what better way to continue to make sports interesting than to allow people to bet on whether the next pitch is a fastball, the next play is a pass, the next shot is a 3-pointer or the next power play will go to the home team?

Because clearly, professional sports core worry the one that keeps them awake at night is that theyre losing fans in droves.

So theyre willing to do anything including sleeping with the devil to continue to generate interest.

Which, in the end, brings me to this: Lift the lifetime ban on Pete Rose, and scrub the records of Alex Karras, Paul Hornung and Art Schlichter none of whom were ever accused of betting on (or at least against) their own teams.

But leave intact the lifelong ban on the Chicago Black Sox.

I mean, professional sports has to have some kind of integrity, right?

Shifting gears

For those who have followed my columns, you know Ive consistently been opposed to the Trump-era tax cuts for the rich and powerful.

Yes, yes, critics have reminded me that the $1.9 trillion tax cut plan also included cuts for the rest of us but those expire in three years, whereas the other cuts live on forever.

Or until President Biden can reverse part of them in his new $2.2 trillion infrastructure plan.

Until and unless that happens, though, were stuck with this kind of headline: These 55 Huge American Companies Paid Zero Federal Taxes.

Yep, you read that right, the online business publication, 24/7 Wall Street, published the list of those companies in that story.

And its quite a list, dominated by tech, financial services, and utilities, the article says.

I wont bother listing the names here (you can look it up), but the very fact such a list exists supports my core argument against the Trump tax cuts: It didnt do anything to spur growth, it merely grew corporate profits by them paying less taxes or none at all.

This isnt a liberal view, either: A true conservative would have a real problem with this kind of math.

But todays Republican Party (which is no longer a bastion of true conservatism) doesnt have a problem with it at all.

In fact, whereas the party is crying crocodile tears over the recent $1.9 trillion Biden rescue plan because of its impact on the deficit and debt, it didnt feel the same way about the $1.9 trillion tax cut.

Oh, and while not a single GOP apparatchik voted for the rescue plan, all of them are taking a victory lap in their hometowns.

Why?

Because while they hated it, their voting public loved it.

But I digress: increasing the cost of Bidens new infrastructure plan would be offset in part by clawing back a bit of the corporate largesse from the Trump administration: increasing the corporate tax rate to 28% from its current 21%.

Keep in mind, though, that this is still a tax cut for corporations: Prior to the Trump cut, the corporate rate was 35%, so Biden would essentially cut the rate by 7 percentage points.

(So dont be misled by those who argue this is an effective tax increase; its not.)

And, speaking of the GOP

As of the end of the first quarter of 2021, 361 bills had been introduced in 47 states including Michigan to make it harder for Americans (read: minorities) to vote.

And each of these bills was introduced by Republican-led legislatures.

Why?

Because they still believe in (or at least pay lip service to) the big lie perpetrated by the former huckster-in-chief; that there was rampant fraud in the 2020 election.

There wasnt.

But the big lie gives them cover to deal with their real fear: If voting access was made easier cross the country, Republicans would be losing elections in droves.

But dont take my word for it:

Trump once said that if the United States switched to all-mail voting, youd never have a Republican elected in this country again.

The GOP speaker of the House in Georgia once said an all-mail election would be extremely devastating to Republicans.

And South Carolina U.S. Sen. Lindsey Graham famously said: If we dont do something about voting by mail, we are going to lose the ability to elect a Republican in this country.

Of course, what Graham and the rest of the GOP want to do in response to that fear is restrict voting rights of those who might vote the other way.

Which is why several bills in Congress right now are so important: They would extend and confirm the voting rights of us all.

So my message to Republicans is this: Youd better start working on your policies and messaging, because your transparent attempts to restrict voting rights is downright un-American.

And a losing strategy.

(One last thing a question: Why is the GOP in favor of stronger identification laws for voting, but no such requirements for buying a gun? Just asking.)

Craig Farrand is a former managing editor of The News-Herald Newspapers. He can be reached at cfarrandudm@yahoo.com.

Read more from the original source:

Gambling, taxes and voting rights also are news - Southgate News Herald