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472 results for “Stake”

The Washington DC skyline with the Washington Monument, Lincoln Memorial and Capitol in autumn
Prediction Markets

Duffy Cites 2,500 Unopposed Self-Certifications, Selig Calls It Fake News

The CFTC convened its Innovation Advisory Committee for the first time and the prediction markets session turned into an argument between the chairman of the largest US derivatives exchange and the regulator. The number Terry Duffy brought was 2,500, and nobody disputed it.

Malaysia Says Facebook Carries 78% of Its Flagged Gambling Content
Regulatory

Malaysia Says Facebook Carries 78% of Its Flagged Gambling Content

The communications minister said there should be an annual award for the platform that commits the most sins against Malaysians, and named Facebook. The number that matters is not 78. It is 30, the minutes his regulator spends on each of 470,593 takedown requests.

Scales of justice and a gavel
Regulatory

Florida Sues Stake, VGW and Four Payment Processors Over Sweepstakes

Attorney General James Uthmeier has gone after the operators and the payment rails in the same action, naming Worldpay, Trustly, Praxis and Breeze Labs alongside Stake and VGW. Suing the processors is the part the rest of the industry should be reading.

A football, a betting slip and rolls of dollar bills
Regulatory

QuinnBet to Pay £609,104 Over AML and Safer Gambling Failings

The Gambling Commission found a player who placed 4,800 bets in a day and 7,000 the next without triggering a warning, and another who staked more than £215,000 in a single session and was flagged the following morning. The controls existed. They were manual, and they were too slow.

Jenningsbet's Greg Knight: Media Rights, Not Tax, Will Decide Shop Survival
Interviews

Jenningsbet's Greg Knight: Media Rights, Not Tax, Will Decide Shop Survival

Betfred is closing 132 shops and blaming the Budget. Greg Knight, who runs Britain's largest independent bookmaker and sits on the Betting and Gaming Council's board, says the industry is chasing the wrong villain: a live-racing bill that has reached £70,000 a shop, and a sport that is quietly cannibalising its own funding.

The Boston skyline across the Charles River
Corporate

Kenneth Dart Takes 5.8% DraftKings Stake Alongside 27.6% of Flutter

A Schedule 13G filed on 7 August puts the billionaire behind 28,581,386 DraftKings shares. He already controls more than a quarter of Flutter, and his vehicle Candle Lake has an unsolicited bid on the table for Evolution. One investor now sits across both halves of the US duopoly.

Esports Nations Cup Postponed to November 2027, With Riyadh Still Host
Sports Betting

Esports Nations Cup Postponed to November 2027, With Riyadh Still Host

The Esports Foundation has pushed its inaugural national-teams tournament back a full year, citing the wider regional situation. Riyadh keeps the event and the development money keeps flowing, but the esports betting calendar has just lost its biggest new fixture of 2026.

The United States Capitol in Washington
General

Illegal US Online Gambling Revenue Hits $97.4bn, Outpacing Legal Market

A report commissioned by the Campaign for Fairer Gambling estimates that unlicensed online gambling operators generated $97.4 billion in US revenue in 2025, growing at nearly twice the pace of the regulated sector and raising pointed questions about whether legalisation is containing or expanding overall market harm.

A paved city-centre street lined with ornate sandstone Victorian buildings, with a green steel bridge crossing overhead under a pale sky
Corporate

Entain Publishes Interim Results as UK Growth and BetMGM Momentum Build

Entain has published its interim results for the first half of 2025, with the FTSE-listed operator pointing to momentum in its UK and Irish retail business and continued progress at its BetMGM joint venture in the United States. The results arrive at a sensitive moment for the group, which is navigating a shifting UK regulatory landscape and a period of strategic repositioning following several years of turbulence.

A smartphone showing a generic sports betting app propped against a football on the touchline of an empty stadium pitch
Corporate

LeoVegas Group Launches Proprietary Tiger Sportsbook in UK Across BetMGM, LeoVegas and BetUK

LeoVegas Group has brought its proprietary Tiger sportsbook to the United Kingdom, deploying it simultaneously across three brands in one of the world's most competitive regulated betting markets. The move completes the platform's rollout through Denmark, Brazil and Sweden and marks the group's most consequential statement yet of intent to own its own technology stack.

An empty wood-panelled courtroom with the judge's bench, green desk lamps and evening light falling across the walls
Regulatory

Conservative Group Sues Wisconsin Over Tribal-Only Online Sports Betting Law

The Wisconsin Institute for Law and Liberty has filed a constitutional challenge to Wisconsin's newly enacted tribal-only online sports betting law, arguing the legislature exceeded its authority and that the tribal-exclusive model violates equal-protection principles. The outcome could reshape how the hub-and-spoke framework is tested across the country.

The Manhattan skyline with One World Trade Center
Prediction Markets

Novig Sues New York Gaming Commission Over Prediction Market Crackdown

Novig, the prediction market operator trading as Ludlow Exchange, has filed suit in the Southern District of New York against the state's gaming commission and attorney general, the latest legal flashpoint in a rapidly escalating state-by-state battle over whether prediction markets constitute illegal gambling. The complaint lands as the sector faces simultaneous legal pressure across multiple jurisdictions.

The Light & Wonder logo displayed on a phone in front of the company's investor relations site
Corporate

Light & Wonder Targets Investment-Grade Debt by Mid-2027 and Deprioritises Share Buybacks

Light & Wonder has made de-leveraging its balance sheet the company's overriding priority after its second-quarter earnings call, with CFO Oliver Chow setting a target of three times cash flow by mid-2027. The shift signals a strategic recalibration for the gaming supplier after years of acquisition-driven growth, and puts share buybacks firmly on the back burner for the remainder of 2026.

California Tribes Keep 2028 Sports Betting Push on Track as Ballot Campaign Takes Shape
Sports Betting

California Tribes Keep 2028 Sports Betting Push on Track as Ballot Campaign Takes Shape

A tribal coalition is pressing ahead with a California sports betting ballot initiative aimed at the 2028 election cycle, targeting the world's fifth-largest economy and one of the last major US markets to remain closed to regulated wagering. The campaign would give licensed tribal casinos and four major tracks exclusive control over online and retail sports betting.

A smartphone showing the Kalshi logo in white on black, resting on a laptop keyboard lit in blue
Prediction Markets

New York Sues Kalshi for Running Illegal Prediction Market, Seeks Fines and Full Restitution

Governor Kathy Hochul and Attorney General Letitia James have filed suit against Kalshi, alleging the prediction market platform has operated an unlicensed gambling business in New York since at least 2025, exposing users as young as 18 to betting products that state law reserves for those aged 21 and over. The action demands forfeiture of all illegal gains, consumer restitution, and fines triple the company's unlawful profits.

Curaçao Gaming Authority Activates New National Ordinance on Games of Chance, Tightening Offshore Licensing Framework
Regulatory

Curaçao Gaming Authority Activates New National Ordinance on Games of Chance, Tightening Offshore Licensing Framework

Curaçao's sweeping legislative overhaul of its online gaming sector came into force on 24 December 2024, replacing decades-old offshore hazard rules with the new Landsverordening op de Kansspelen and elevating the Curaçao Gaming Authority to a more independent regulatory footing. For the thousands of operators licensed through the jurisdiction, the transition marks the start of a stricter compliance era.

DraftKings Hit With Federal Class-Action Complaint Over Prediction Market Activity
Sports Betting

DraftKings Hit With Federal Class-Action Complaint Over Prediction Market Activity

Three plaintiffs have filed a federal complaint against DraftKings and affiliated entity Gus III, LLC in the District of Massachusetts, the latest legal challenge to land against a major US operator as prediction markets reshape the competitive landscape. The filing adds to a growing body of litigation testing the legal boundaries of sports-event contracts under US gambling law.

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