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A Florida man who stole $22 million from the Jacksonville Jaguars to fund a prodigious gambling habit has been sentenced to six and a half years in federal prison. Amit Patel, left, arriving at a Florida courtroom with his lawyer, Alex King. His former colleagues described feeling “betrayed” by Patel’s actions in a statement read out to the court. (News4AJAX) Last December, Amit Patel pleaded guilty to wire fraud and engaging in an illegal monetary transaction in connection to the embezzlement. On Tuesday, U.S. District Judge Henry Lee Adams Jr. ordered the 31-year-old to pay the Jags $21.1 million in restitution and to seek professional help for his gambling. Patel …

Minnesota Timberwolves center Rudy Gobert has been fined $100K by the NBA. The penalty was assessed for what the league determined to be “an inappropriate and unprofessional gesture.” The incident happened during the team’s 113-104 overtime loss to the Cleveland Cavaliers on March 8 at Rocket Mortgage FieldHouse in Cleveland. Minnesota Timberwolves center Rudy Gobert makes a money gesture towards a referee after being called for his sixth foul during his team’s 113-104 overtime loss in Cleveland on March 8, 2024. After the game, Gobert doubled down on his belief that sports betting is causing integrity damage to the league. (Image: USATSI) During the last 30 seconds of regulation, Gobert …

Former fugitive and Sports Offshore operator Richard Sullivan has pleaded guilty to illegal gambling charges. His plea comes nearly 14 years after he was first indicted by a federal grand jury in Boston. Former Massachusetts Congressman John Tierney fielding press questions in 2010 after his wife, Patrice Tierney, was caught up in the Sports Offshore scandal. (Image: Boston Globe) Sullivan, 73, was arrested in August upon his arrival at New York’s John F. Kennedy International Airport on a flight from Antigua, where now-defunct Sports Offshore was based. It’s unclear whether he deliberately returned to the U.S. to turn himself in. Sullivan was among the first to be charged under the …

Maryland sportsbooks have removed game-specific player props on college sports following a state regulatory adjustment. University of Maryland women’s basketball coach Brenda Frese coaches her team during a game in January 2024. Effective immediately, Maryland sportsbooks can no longer offer player props on college sports, like how many points #2 Riley Nelson might score in a specific game. (Image: Getty) Maryland was in the minority among the nearly 40 states that permit gambling on sports in allowing bettors to make wagers on a college athlete’s performance. The Maryland Lottery and Gaming Control Agency (MLGCA) has confirmed that it amended its sports betting rules to prohibit such wagers. The updated regulation …

Fanatics Sportsbook launched its online sports betting product in Indiana on Tuesday. The Hoosier State marks the 14th sports betting state entry for the mobile wagering platform controlled by the sportswear giant. The Fanatic Sportsbook has launched in Indiana. The debut marks Fanatics’ 14th sports betting state. The company’s rapid expansion comes after acquiring PointsBet in 2023. (Image: Fanatics) Fanatics Sportsbook operates under Fanatics Betting and Gaming, the retail and online sports betting subsidiary of Fanatics Holdings, Inc. The company also runs iGaming in Michigan, Ohio, and Pennsylvania. Indianans and anyone visiting the state aged 21 and older can now download the Fanatics Sportsbook app and begin betting. The company’s …

Most sportsbook operators were pinched by the Super Bowl because the underdog Kansas City Chiefs won outright. But DraftKings’ (NASDAQ: DKNG) first-quarter earnings might prove sturdy due to the operator winning on parlays and some popular proposition wagers. A DraftKings billboard appears in Times Square in New York City. An analyst believes the operator did well with the Super Bowl and could have big iGaming opportunities ahead. (Image: NASDAQ) Following a meeting with several high-ranking DraftKings executives, including cofounder and CEO Jason Robins, JPMorgan analyst Joseph Greff said he came away “incrementally impressed.” Greff added that the operator likely notched decent hold on the Super Bowl because neither Kansas Chiefs …

Shares of DraftKings (NASDAQ: DKNG) surged in early trading Friday, extending a run that’s seen the stock gain more than 10% over the past month. That’s after Barclays analyst Brandt Montour upgraded the gaming equity. A DraftKings Sportsbook advertisement above the Grand Central subway station in New York City. The stock rallied Friday on an upgrade from Barclays. (Image: Crain Communications) In a note to clients today, Montour upgraded DraftKings to “overweight” from “equal weight,” while boosting his price target on the stock to $50 from $41. That new forecast implies upside of 22.4% from the Feb. 22 close. We’re less concerned than we were 3-6 months ago over increased …

Illinois Gov. J.B. Pritzker (D) on Wednesday unveiled a $52.7 billion spending plan for the state’s upcoming fiscal year that begins on July 1. The billionaire governor in his second term plans to partially cover the 2% spending increase by raising taxes on sportsbook operators. Illinois Gov. J.B. Pritzker arrives at the State Capitol to deliver his State of the State and budget address on Wednesday, Feb. 21, 2024. Pritzker wants to more than double the state’s tax rate on sportsbooks. (Image: Getty) Illinois is home to in-person and online sports betting. Bettors last year wagered $11.6 billion at the 11 brick-and-mortar and eight online sportsbooks. Oddsmakers kept about $1 …

DraftKings (NASDAQ: DKNG) spent $700K on private air travel last year for cofounder and CEO Jason Robins. DraftKings CEO Jason Robins. The company spent $700K on private air travel for him last year. (Image: Getty Images) That detail was revealed in the company’s annual report, which was published Thursday in conjunction with the operator’s fourth-quarter earnings release. In the filing with the Securities and Exchange Commission (SEC), DraftKings noted that starting in 2022, it chartered, “without markup,” a private jet owned by the chief executive officer “for the business and personal travel of Mr. Robins and his family.” The Company had no direct or indirect interest in such private plane. …

The Florida Gaming Control Commission has sent cease-and-desist letters to three fantasy sports operators that allow players to bet against the house. Traditional DFS (daily fantasy sports) games are played among pools of players or peer-to-peer. The Florida Gaming Control Commission has sent cease-and-desist orders to three fantasy sports companies that run pick’em contests. State regulators say the prop-like bets violate Florida law. (Image: Casino.org) Known as “pick’em” fantasy sports, players on such apps bet whether a roster of players they assemble will go over or under a point total calculated by the operator. In Florida, three companies have run such games, including PrizePicks, Betr, and Underdog Fantasy. On January …