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A day after slumping following publication of a bearish report by Hindenburg Research, DraftKings stock (NASDAQ:DKNG) is rebounding modestly Wednesday. Several analysts are defending the sportsbook operator, along with the support of a well-known investor. ARK Investor founder Cathie Wood, seen above. Her firm bought more DraftKings stock following release of a bearish research report. (Image: Business Insider) On Tuesday, shares of DraftKings finished lower by 4.1 percent — though that was well above the lows of the day — after short seller Hindenburg issued a scathing report. It accused SBTech, a unit of the sports wagering company, of operating in markets where sports betting is prohibited, money laundering, and …

A recent poll found that more than half of the UK public supports a complete ban on advertisements related to gambling.  A Ladbrokes logo on the Celtic F.C. jersey of the Scottish Professional Football League. A poll finds that a majority of people in the UK want fewer gambling advertisements in sports, and on television, social media, and online. (Image: Sky Sports) More than 12,200 people were surveyed to gauge their comfort levels with gambling products being advertised on television, radio, and online. The survey was commissioned by the Action on Smoking and Health organization and conducted by YouGov, a London-based research and analytics firm,  The poll concluded that 63 …

YouTube announced this week that it is no longer accepting advertisements for its website’s homepage masthead from companies marketing gambling.  A Ford advertisement on the YouTube masthead. The video-sharing site is no longer allowing marketing spots from sportsbooks and companies highlighting gambling products. (Image: MarTech) YouTube’s masthead ads are the commercial spots site users see at the top of the video-sharing and social media platform’s homepage. Google, which owns YouTube, says the masthead is YouTube’s “most prominent advertising placement available to advertisers.” But effective immediately, casinos, sports betting firms, and any other company trying to market gambling-related products or services can no longer invest in the masthead space.  Assets that …

Shares of DraftKings (NASDAQ:DKNG) are sliding Tuesday after noted short-selling activist Hindenburg Research published a lengthy report. The report alleges the gaming company’s SBTech unit operates in jurisdictions where sports betting is illegal, and may have connections to money laundering and organized crime. Hindenburg Research founder Nathan Anderson, seen above. A new report from his firm says DraftKings unit SBTech runs illegal gambling operations. (Image: Johnny Milano/Fortune) Founded by Shalom Meckenzie, one of the richest men in Israel, SBTech was part of a 2020 three-way reverse merger involving DraftKings and special purpose acquisition company (SPAC) Diamond Eagle Acquisition Corp. That transaction paved the way for DraftKings to become a publicly …

James Holzhauer, the professional gambler who became a household name thanks to a historic run on Jeopardy!, is set to make his writing debut for The Athletic. He is expected to write a sports betting column. Media reports on Monday indicate that former Jeopardy! champion James Holzhauer will begin writing a sports betting column for The Athletic. Besides winning more than $2 million on the game show, Holzhauer also has made a living as a professional gambler. (Image: Jeopardy!) Andrew Marchand of the New York Post first reported the news Monday evening, with Awful Announcing confirming the news. The sports media news site added that the man known as “Jeopardy James” …

Phil Mickelson made history on Kiawah Island at the PGA Championship last month when he became the oldest man to win a major. Now, with the world’s best players arriving in Southern California at Torrey Pines, a slew of golf bettors are hoping the nearly 51-year-old will deliver another round of heroics.  Phil Mickelson is swarmed by fans on the 72nd hole of the 2021 PGA Championship at Kiawah Island’s Ocean Course. Lefty, as he’s affectionately known, is a betting favorite for this week’s US Open. (Image: UPI) Numerous sportsbooks are reporting large liabilities on Mickelson for this week’s US Open. That shouldn’t come as a surprise. Along with Lefty …

BlueBet, an upstart Australian sportsbook operator, is nearing an initial public offering (IPO). The proceeds could drive the company’s domestic and US expansion efforts. BlueBet founder Michael Sullivan, seen in his office above. The company is readying an Australian IPO and launch in the US. (Image: The Australian) The operator is slated to list shares on the Australian Stock Exchange (ASX) on July 2 at a market capitalization of nearly $170 million, or A$220 million. The offering will result in $38.51 million proceeds flowing to the company. BlueBet, which was founded in 2015, currently commands 1.5 percent of the Australian sports wagering market. This is a scant share relative to …

Five months after announcing a partnership with the Washington Nationals, BetMGM is ready to play ball in the nation’s capital. Pitcher Stephen Strasburg of the Washington Nationals warms up before an Aug. 9, 2020 game against the Baltimore Orioles at Nationals Park. BetMGM announced Thursday its mobile sports betting app is live in and around the ballpark. There are also plans to open a retail sportsbook there later this year. (Image: All-Pro Reels/Wikimedia Commons) The Entain-MGM Resorts International product announced Thursday that its mobile sports betting app was live in the District of Columbia. Per DC’s sports betting law, the app is only available for use within a two-block radius …

Fifteen Washington State tribes are significantly closer to offering athletic wagering following a key vote. Sports betting could be in place by the end of August in time for the beginning of the 2021 NFL season. Washington State Gov. Jay Inslee shown here. Inslee needs to sign amended compacts to allow sports betting at tribal casinos. (Image: Ted S. Warren/AP) Last week, the Washington State Gambling Commission (WSGC) updated tribal Class III gaming compacts to permit wagering on sports events. The move was unanimously approved by seven commissioners on Thursday. Two commissioners were excused from voting. More government and tribal approvals are needed before sports betting can take place. Each …

A Baton Rouge television station has partnered with the Vegas Sports Information Network (VSiN) to air sports betting information in the capital city. Louisiana’s governor is expected to sign a bill soon to allow sports wagering in the state. LSU head coach Ed Orgeron leads the LSU Tigers in pre-game drills prior to a 2020 game at the University of Arkansas. LSU defeated the Razorbacks 27-24. (Image: CBS Sports) The ABC affiliate in Baton Rouge, WBRZ-TV, will join with DraftKings-owned VSiN to make sports-betting shows available for over-the-air viewers. Noah Kozinko, WBRZ-TV’s marketing director, said the station wanted to join with “the best in the business” to introduce local viewers …