Category Archives: Gambling

Has Reddit broken the stock market?

Fundamentals have never mattered less, yet the wild moves of a bunch of struggling stocks with dated business models could have real-world consequences. The companies can raise capital more easily by issuing new shares at elevated prices to help them survive or restructure, while executives with bonuses tied to the stock price are closer to cashing in fortunes.

The question isnt so much whether this spectacle makes a mockery of the idea that markets provide an efficient form of capital allocation in the economyit obviously does, at least for these stocks. The real question is whether something should be done about it, not to save investors from themselves or to prevent knock-on problems in the financial system (both worth exploring), but to improve the way the economy works.

The basic theory of markets is that they provide a way for capital to flow to the parts of the economy that can best put it to use, with the test being the ability to earn a profit. The prospect of an eventual profit should attract investors, making a stock rise. That makes it easier for the company to raise new money and for new companies in the same line of business to float, while also sending a signal to executives elsewhere that this is the right place to invest.

The theory has been turned on its head in the past couple of weeks. Reddit group WallStreetBets has delighted in buying flaky companies, because hedge funds were betting on their stocks falling. As rising prices forced hedge funds to retreat, stock-price jumps have sent the wrong signal for where capital should go.

Read more:

Gambling? In the Stock Market? Im Shocked. - The Wall Street Journal

The Iowa sports gambling market is rapidly expanding as the biggest game in sports is set for this coming weekend.

Iowa Racing and Gaming Administrator, Brian Ohorilko, says all of the states casinos now have sports gambling operations and many are adding on. A number of the casinos that got into the game early with online sports wagering are starting to shop their second individually branded website, Ohorilko explains.

He says it is a natural progression of the 18-month old industry. Each casino can have three individually branded websitesthey all have one and many of them are now entering into their second agreements, he says.

Ohorilko says other sports gambling businesses are now looking at Iowa as the requirement that you go to a casino to sign upended on January 1st. This market has been inundated with new applications companies that are wanting to enter the market, Ohorilko says.

Ohorilko says sports gambling is a bright spot for the industry hit hard by the pandemic. Were seeing really good numbers right now and I think well continue to see market growth in the next few months. We are not seeing obviously as related to the pandemic we are not seeing any Superbowl parties. Thats something we are missing this year, according to Ohorilko.

He says the loss of those parties is part of an overall impact of the pandemic that has hit the general casino business this year. Attendance is still off significantly from what it was last year at this time. Revenue is starting to fall a little bit, Ohorilko says. Ohorilko says attendance will not improve until people feel better about getting out and doing things in public.

He does say that the casinos should have the benefit of operating this year in months where they were shut down last year by the pandemic restrictions.

The rest is here:

Sports gambling industry continues growing in Iowa - Radio Iowa

Love or loathe it, legal sports betting is here with a vengeance.

There has been a flood of news about teams, leagues and sports wagering businesses announcing relationships. Last week, it was gambling company Ballys and TV station giant Sinclair formally rolling out their deal to rebrand the Sinclair-owned Fox Sports regional sports networks (RSNs) under the Ballys name.

To help make sense of the name change, the sports betting aspects, and what Sinclair ownership of the channels means, heres what we know so far.

An easy one: Whats happening?

Under a naming rights deal, the Fox Sports regional channels become Bally Sports later this year. For example, Fox Sports Detroit will become Bally Sports Detroit for Tigers, Red Wings and Pistons fans who watch those channels through their local cable or digital providers. This was long expected because Sinclair bought the channels in 2019. Ballys sports wagering technology...

Original post:

Bally Sports: Changes, gambling coming to regional sports TV - The Athletic

Sundays Super Bowl 2021 will be the 55th in history. With a sample size of 54 previous games, youll want to consider those results as you contemplate how this years game between the Kansas City Chiefs and Tampa Bay Buccaneers might play out, checking for similarities between this years matchup and past games. How can you know where youre going if you dont understand where youve been?

Super Bowl favorites are 34-19 SU and own an ATS mark of 25-25-3, with the 1982 game having been a pick em point spread. However, over the last 18 years, underdogs own a 13-6 ATS (68.4 percent) edge, including 9-4 ATS in the last 13. Kansas City won as the slimmest of favorites in 2020.

The straight-up winner is 45-6-3 ATS (88.2 percent) in the 54 previous Super Bowls, and the dog has never covered a point spread without winning on a Super Bowl line of fewer than six points. This figure is now the highest of the four playoff rounds. Champions typically leave no doubt.

Remarkably, the AFC and NFC have split 27-27 outright in the first 54 Super Bowls, but the NFC holds a 27-24-3 (52.9 percent) ATS edge. However, AFC teams have turned the tide recently with a 5-2 SU and ATS surge in the last seven.

The team that is the higher playoff seed is just 2-14-2 ATS (12.5 percent) in the last 24 Super Bowls. Equal seeds matched up six times.

The team with the better record going into the Super Bowl is 29-18 SU all time but has lost 10 of the last 11, including the 49ers (13-3) against the Chiefs (12-4) a year ago.

Teams that scored more points per game during the regular season are only 5-13 ATS in the last 18 Super Bowls. The Buccaneers averaged 30.8 ppg to the Chiefs 29.6.

The ability to run the football has been much overrated for Super Bowl success. Teams that averaged more rushing yards per game are just 4-12 ATS since 05. The Chiefs rushed for 112.4 yards per game this season, the Buccaneers 94.9.

Passing yardage has also meant little in terms of Super Bowl success, with teams owning an edge in total offensive passing yardage going only 8-11 ATS in the last 19 games. These were the top two passing teams in the NFL in 2020 with the Chiefs throwing for 4,854 yards and the Buccaneers 4,626.

In the 53 Super Bowl games that have had totals, the Over is 27-25-1 (51.9 percent). The last two have gone Under, the first time for back-to-back Under results since four straight from 2005-08. The 2019 game between the Patriots and Rams went Under in record fashion, falling short of the posted number by more than 40 points.

On average, 46.3 points have been scored per Super Bowl, with posted totals averaging 44.7. However, the early years totals were often in the 30s, dragging down that number significantly. The last 16 years have featured an average posted total of 49.7, with 46.9 scored. Nine of the 16 games in that era went Under.

In the last 11 Super Bowls with totals in the 50s, the Under is 8-3 (72.7 percent).

The 2020 Super Bowl was one of only 17 in which both teams reached the 20-point mark. Fourteen of those went Over. Consider that with the quality of offenses expected in this years game.

Read the rest here:

Super Bowl 2021: The gambling trends you need to know - New York Post

Australian lottery and betting operator Tabcorp Holdings has confirmed that multiple parties are interested in buying its wagering division, with UK gambling giant Entain plc confirming its among the suitors.

On Tuesday, Tabcorp issued a statement in response to local media reports which claimed the company had been approached about a possible acquisition of its Wagering & Media unit, which controls nearly 44% of the local sports and racing market. Tabcorp confirmed receiving a number of unsolicited approaches and proposals in relation to a potential transaction.

Tabcorp noted that said pitches were expressed to be confidential, indicative, non-binding and subject to numerous conditions. Tabcorps board is assessing these proposals and will update the market as needed, while adding the usual caveat that there was no certainty that there would prove to be any fire behind this smoke.

Entain subsequently issued its own statement confirming that the company had made a non-binding indicative offer for Tabcorps betting division. Entain already has a small down under presence via its Ladbrokes Australia and Ned brands and noted that adding Tabcorps betting unit would create a leading, integrated multi-channel and multi-brand wagering company.

Tabcorp shareholders appeared to welcome the news, pushing the companys stock price up nearly 9% by Tuesdays close. Entains shareholder reaction was more muted, as the stock closed relatively unchanged from its Tuesday opening price.

It was only last November that Tabcorp was denying media reports that it was an acquisition target by a couple different private equity-supported groups, including one led by Sportsbet/Beteasy founder Matthew Tripp.

Tabcorps Wagering & Media unit generated revenue of AU$2.1b (-10%) and earnings of AU$371m (-20%) in its most recent fiscal year, with the declines partly blamed on the complexity of merging its TAB betting brand with the UBET brand of rival Tatts Group, which Tabcorp acquired in 2017. These challenges werent helped by the pandemic shutdown of major sports, although Australian racing was largely unaffected by COVID-19.

As for Entain, the company appears quite unable to stop coveting rivals operations, particularly when they offer geographical expansion opportunities. But Tabcorps betting unit has been valued at AU$2.8b (1.55b), which, along with the 252m earmarked for Entains pending acquisition of Enlabs, would nearly double the companys existing debt load.

The identity of Tabcorps other suitors remains unknown at present, but should Entains overtures prove irresistible to Tabcorp, it will complicate future attempts by US casino operator MGM Resorts to acquire Entain, its partner in the ROAR Digital US-facing sports betting and online gambling joint venture.

Original post:

Gambling Industry Announcement and Partnership Roundup February 2, 2021 - CalvinAyre.com

Android users in regions other than the UK, Ireland, France and Brazil will soon be able to find and download real-money gambling apps from the Play Store. Google has updated its program policy allowing apps that enable or facilitate online gambling in 15 more countries, including the US, starting on March 1st. In addition to making gambling applications available on the Play Store, the change in policy will also allow ads promoting real-money gambling to be served to users in those regions.

The new countries covered by the change are: Australia, Belgium, Canada, Colombia, Denmark, Finland, Germany, Japan, Mexico, New Zealand, Norway, Romania, Spain, Sweden and the United States. Of course, Google has a strict set of requirements developers must meet to be able to publish gambling products. To start with, they must be an approved governmental operator and must have a valid operating license in the specified country for the type of online gambling product they want to offer.

Their applications must fall under one of these categories, as well: online casino games, lotteries, sports betting and daily fantasy sports. The developers must also implement safeguards to keep underage users out of their apps and must prevent access from countries/regions not covered by their license. In addition, the apps must be free to download and must not use the Google Plays in-app billing system.

The rules and the types of applications that Google can approve vary per region due to differing laws for each. In the US, rules vary per state, so some will be able to access casino games, for instance, while others wont.

Here are the types of games allowed in the US and the states where theyll be available:

Online casino games (permitted in Delaware, Nevada (poker only), New Jersey, and Pennsylvania)

Sports betting (permitted in Colorado, District of Columbia (governmental operators only), Illinois, Indiana, Iowa, Montana (governmental operators only), Nevada, New Hampshire, New Jersey, Oregon (governmental operators only), Pennsylvania, Rhode Island, Tennessee, and West Virginia)

Lotteries (state-run operators or affiliated contracted operators only in Georgia, Illinois, Kentucky, Maine, Michigan, New Hampshire, New York, North Carolina, Pennsylvania, Rhode Island, and Virginia)

Depending on the state, daily fantasy sports may be regulated as gambling in the U.S, and all daily fantasy sports apps published in the United States are subject to the Daily Fantasy Sports (DFS) Apps requirements below.

Read the rest here:

Google will soon allow gambling apps on the Play Store in the US - Engadget

Shares in the $9.1 billion firm rose 11.7 per cent to a near 12-month high of $4.58 on the news, and closed up 8.78 per cent to $4.46.

Investors such as Perpetual, John Wylies Tanarra Capital and Investors Mutual were agitating for change last year which led to the departure of chairwoman Paula Dwyer in December. Tabcorps chief executive David Attenborough is due to follow her out the door this year.

Tabcorp investor Sandon Capital has gone further by advocating for a split of the business to deliver value to investors. It validates our view that there is interest in the business and that market prices previously have not reflected anywhere near its true value, Sandon Capital managing director Gabriel Radzyminski said.

When we wrote to the company in November, we believed it was now the time to rethink the whole strategy, plus there was the change of chair, he said.

That effectively means its a new board because the dynamics change. It was an opportunity for a new board to start with a blank sheet of paper and say, right, heres what weve got. But what should we be?

Loading

Mr Radzyminski said Sandons proposal is a redux of its 2016 campaign at Tatts where Sandon argued the gaming group should split its wagering and lotteries business rather than merge with Tabcorp. Sandon acquired shares in Tabcorp last year and began agitating for change again.

Weve now had enough time to show that it just wasnt going to work, he said.

The market was not reflecting the true value of the two businesses. Wagering still has problems that couldnt be fixed or, that werent being fixed, and it might be better if it were a pure-play wagering business.

Tabcorps traditional wagering business, which was already struggling against online competition, had a tough year in 2020 with COVID.

Tabcorp was forced to raise $600 million last August to weather the pandemic storm and slash the value of its wagering business by $1 billion in its full-year accounts after it was hammered by the forced closure of pubs, clubs and betting shops, and the suspension of sporting leagues.

It pushed the group to an $870 million annual loss for the 2020 financial year, compared with a $361 million profit in 2019.

Colin Kruger is a business reporter. He joined the Sydney Morning Herald in 1999 as its technology editor. Other roles have included the Herald's deputy business editor and online business editor.

Go here to see the original:

Gambling giant Tabcorp confirms break-up offers from multiple parties - Sydney Morning Herald

Mr Vegas has become the 100th operator to secure an online gambling licence in Sweden since the country launched its regulated market in January 2019.

The new licence will permit Mr Vegas to offer online gambling to players in the country via its MrVegas.com and MrVegas.se websites.

Swedish regulator Spelinspektionen issued the online games licence, which will run until 31 January 2026.

Mr Vegas offers more than 2,000 online casino games, including slots, blackjack, roulette, video poker, live casino and scratchcards. The operator also holds a licence from the Malta Gaming Authority.

Sweden opened its regulated igaming market on 1 January 2019.

In November last year, Spelinspektionen reported that revenue in Sweden for Q3 of 2020 was up 1.3% year-on-year to SEK6.04bn (523.8m/595.0m/$716.8m).

Online revenue also increased 5.8% during the three-month period, despite the controversial SEK5,000 temporary casino deposit cap, which has applied to online casino games since July 2 last year. The cap was initially meant to last until the end of 2020, but was since extended to June 2021.

Original post:

Sweden issues 100th online gambling licence to Mr Vegas - iGaming Business

For those who missed it, check out the2021 Waste Management Phoenix Open Gambling Preview and Strategies for the types of golfers you should look to target for your picks. Using that as a guide, here are some of the best bets to make this week here are my 2021 Waste Management Phoenix Open Picks and Props.

I dont typically like betting golfers under 10/1 to win a tournament. But Id be dishonest with you, the reader, on withholding my feelings about why I think Justin Thomas wins this week.

I could regurgitate all the statistics about why Justin Thomas is an elite ball striker. Everyone knows that and it doesnt need to be repeated. But the man is due for a win. Thomas is one of the most prolific winners on the PGA Tour. And hes currently in the third-longest consecutive start streak without a win.

Hes played 11 times since he last won at the FedEx St. Jude Classic last August. The only longer stretches in his career occurred in 2017 and across the 2018-2019 season. The winless streak was 14 in 2017, and Justin Thomas is a much better player than he was then. The other was between the 2018 CJ Cup and the 2019 BMW Championship. That streak was 25 events, but he was hampered with a wrist injury in between.

Another thing going for Justin Thomas this week is the weather conditions and the lack of fans. The weather in Scottsdale, AZ this weekend will be like playing in a dome. Perfect weather conditions are typically where Justin Thomas shines best.

This tournament doesnt see a lot of longshots win. Every winner since 2015 was under 50/1 entering the tournament. With Justin Thomas on top of his game and well overdue for a win, itll probably come this week.

Berger is a very, very chalky play this week. Almost every mainstream betting expert has added him to their card. But even the mainstream guys are due to win one of these weeks, and Daniel Berger does check a ton of boxes of a winner of this event. Berger is a fantastic ball striker, combining both adequate length and precision tee-to-green. Hes also a fantastic putter. That gives him the upside needed to reach the upper teens under par that typically takes the event down.

Berger is enjoying the best golf of his career. Hes in a great spot to win for the second time in less than a year.

This feels like the week Sungjae puts it all together. Hes teased elite upside in both ball striking and putting over the last four tournaments. The one area thats continually let him down was his performance around the green. But with huge greens and ideal weather conditions, players wont find themselves struggling to get up and down for par from off the green all that much this week. With his weakness put to the back burner, that could help Sungjae grab his second career win.

Henley is getting punished too severely for the missed cut at the American Express. Though hes been up and down, Henley is one of the better ball strikers in the field over the last six months. He struggled with that in Palm Desert, but after a week off hes in a good spot to bounce back. The stats hes put up over the last 6 months are worthy of a PGA Tour victory. This could finally be the week for him and makes him an entertaining longshot among the Waste Management Open picks.

The poor weather conditions of Torrey Pines got to Bubba last week. The ideal ones in Scottsdale should treat him a lot better. Without wind or rain, Bubba should be able to pick apart TPC Scottsdale like the many times hes done in his career. He has gained almost 2 strokes per round on the field in 52 rounds at the golf course. Bubba should bounce back this week and finish towards the top of the leaderboard. More than 4/1 on a strong finish is a solid bet.

Si Woo Kim checks the boxes of everything needed to play well at TPC Scottsdale. Hes a fantastic ball striker with a good combination of both length and accuracy. But this hasnt translated to strong results at TPC Scottsdale. In his career, Si Woo has lost over two strokes per round to the field in 14 rounds.

Theres a recent blueprint of a player who struggled at TPC Scottsdale and found unexpected success. Tony Finau had missed the cut in four consecutive tournaments at TPC Scottsdale before losing in a playoff to Webb Simpson in 2020. Talent ultimately prevails, and Si Woo is playing the best golf of his life. Hes being overlooked for the course history, but bettors should not overlook his game to overcome it.

After a much-publicized slump due to a swing change, it seems like things are turning around for Rickie Fowler in 2021. Fowler gained almost 14 strokes tee-to-green in his last two tournaments. His magnificent ball-striking was held back by poor putting, which has been an issue for him lately. Eventually, quality ball-striking breeds leaderboard success. Rickies history at TPC Scottsdale is also very strong. The break out may come this week.

Matt Kuchar has a tremendous history at TPC Scottsdale. But his play over the last year suggests his time is starting to run short. Kuchars ball-striking has severely deteriorated since the beginning of 2020. His finishes are almost entirely tied to how well he putts. Players who struggle with their ball striking dont fare well at TPC Scottsdale. Munoz is a much better one tee-to-green and should beat Kuchar head to head.

Alternatively,Henrik Norlander is offered on some books at +105 over Matt Kuchar. If your book offers it, thats another matchup prop worth betting on.

Rory Sabbatini is coming off a week of poor ball striking saved by great putting. Sabbatini gained only 0.62 strokes tee-to-green at Torrey Pines, yet gained over four strokes putting. Its difficult to sustain strong putting performances week to week, as that tends to regress to the mean. Meanwhile, Grillo had a poor ball-striking performance at Torrey Pines, but his long term trends suggest a bounce-back is imminent. Hes also a more reliable ball striker than Sabbatini. Grillo should prevail in this head-to-head.

The buzz around Zalatoris concerns me that the public will mush him. This week, however, hes paired in a matchup against a player due for negative regression. At Torrey Pines South, Louis gained over seven strokes putting yet lost over a stroke tee-to-green. Louiss ball-striking over his last 50 rounds is not strong enough to cover a very likely negative regression of the putter. Zalatoris is already one of the best ball strikers on the PGA Tour, and he should beat Louis at TPC Scottsdale.

Ortiz is coming off a near-miss at the Torrey Pines that saw him fade badly down the stretch. His last few starts have also been carried by a strong putter but mediocre ball striking. He seems primed for a letdown. Meanwhile, Chris Kirk is on a career renaissance. His game is as strong as it was before entering rehab, and all parts of his game are firing on all cylinders. Kirk should beat Ortiz head to head. Despite the odds, this is one of the more favorable Waste Management Open picks.

RELATED CONTENT

Waste Management Phoenix Open Preview Show | Golf Gambling Podcast (Ep. 26)

2021 Waste Management Phoenix Open Gambling Preview & Strategies

Super Bowl Exotic Prop Bets & DFS Lineups (Ep. 949)

Kansas City Chiefs Super Bowl Preview & Prop Bets (Ep. 950)

Go here to see the original:

2021 Waste Management Phoenix Open Picks and Props - The Sports Gambling Podcast

RICHMOND, Va (WRIC) In a state where decades-long debates raged over legalizing varying forms of gambling, sports betting has added itself to Virginias ranks of risk opportunities.

After FanDuel went live last week, advertisements have been pushed to consumers as additional competitive sports books launched.

BetMGM, Draft Kings, Caesars and Rivers Casino Portsmouth all have approved permits according to the Virginia Lottery.

The General Assembly passed a measure legalizing sports betting during the 2020 session, and less than one year later sports fanatics can get in on the action.

The move is the latest green light for gambling in the Commonwealth over the last three decades.

The Virginia Lottery went live in the late 1980s, Colonial Downs off-track betting first happened in the late 90s, and was later revived in gaming hubs like Rosies Gaming Emporium.

Like other modes of gambling operations, sports books have guidelines to follow, as Mike Raffensburger with Fan Duel explained.

We have requirements, much like a bank does to know our customers. So in order to actually sign up and deposit to play on FanDuel, we require certain information like your address, the last four digits of your Social Security number, and we use other databases to sort of confirm your identity and that you are of age and legally allowed to place a gambling wager in the state of Virginia, Raffensburger said.

In Virginia, bets on in-state teams cannot be wagered ona provision similar to several other states who have legalized sports betting.

Many may be interested in placing bets, but Brenda Hurt in Richmond said she will keep her money close.

I mean, they [sports fans] might want to [wager], but I cant tell you who because I know I dont want to. I just watch the game, Hurt said.

I need my money. Ive got to pay bills, I cant do nothing with gambling and giving away my money free, she said.

Full-fledged casino projects are also in the works across Virginia, including the potential one may pop up in Richmond, which is still under consideration.

For those with gambling addictions, resources are available to you, including the Virginia Council on Problem Gambling.

The VCPG toll free hotline is 1-888-532-3500.

See original here:

Virginia sports betting is live, adding to the states list of gambling opportunities - WJHL-TV News Channel 11