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Chinese police in the eastern city of Wenzhou say they have disrupted a syndicate that illegally capitalized on an online sports book “loophole” to cash in the equivalent of around US $4.6 million. Two Chinese police officers stand guard in Beijing in an image taken in 2009. Their colleagues in Wenzhou have disrupted a gambling ring that made $4.6 million in just seven months. (Image: Getty) The scheme involved buying up hundreds of money-losing accounts to exploit perks afforded to big-betting but unsuccessful gamblers, as reported by Wenzhou Evening News. Police said the “core figure” of the gang was a Wenzhou internet café owner identified only as “Shi.” Shi had …

The amended Florida gaming compact with the Seminole Tribe of Florida that the federal government deemed as approved earlier this year does not violate the Indian Gaming Regulatory Act (IGRA). That’s even though officials with the Interior Department conceded that federal law states that the location of a wager is based on where the bettor is located. US District Judge Dabney Friedrich will now determine if the Seminole Tribe of Florida is welcome to offer mobile sports betting across the state. That’s after federal officials submitted information the judge requested in a hearing last week. The amended gaming compact with the Seminole Tribe legalized sports betting earlier this year, but …

The New York State Gaming Commission unanimously approved sports betting licenses to eight platform providers during its meeting Monday afternoon. The awards mean nine operators will be allowed to offer mobile wagering. The Empire State Building in New York City. On Monday, the New York State Gaming Commission voted to issue licenses to platform providers that will work with sports betting operators. The goal is for mobile sports betting to launch in New York by the Super Bowl. (Image: Bobby Mikul/PublicDomainPictures.net) The winning bidders were led by platform provider Kambi Group, a group that includes Rush Street Interactive, Caesars Sportsbook, Wynn Interactive, PointsBet, and Resorts World. This group finished with …

America’s newest sportsbook launched on Wednesday, as online streaming service fuboTV went live with its app in Iowa. Fubo Sportsbook, a product of sports-centric streaming television provider fuboTV, went live Tuesday with Iowa as its first market. The sports betting app is the first to sync a mobile app with an online streaming service. Company officials said they expect more rollouts to occur later this year and into 2022. (Image: Fubo Sportsbook) Getting into the gaming business has been a priority of the sports-centric streaming platform. Company executives see sports betting as a market opportunity that meshes with its primary content focus. Cofounder and CEO David Gandler said in a …

New Jersey college sports betting involving state schools or taking place within the state’s boundaries will remain prohibited. New Jersey Gov. Phil Murphy (right) debates his gubernatorial Republican challenger Jack Ciattarelli last month. Their race remains undecided the morning after Election Day. But a sports betting referendum in the Garden State was rejected. (Image: AP) New Jersey voters on Election Day were asked to elect their next governor, but also to decide if state lawmakers should have the freedom to expand betting options for licensed oddsmakers. The state’s current sports betting law allows sportsbooks to offer lines on college sports, but only if the games do not involve state universities …

The battle lines for California sports betting were officially – and firmly – drawn on Friday. That’s when two Native American groups announced a new coalition to oppose two measures being proposed by commercial gaming in the state. Trilogy Group Founding Partner and CEO Valerie Spicer (far left) moderates an Oct. 4 panel discussion at the Global Gaming Expo. Panelists from left to right are Pechanga Band of Luiseño Indians Chairman Mark Macarro, California Nations Indian Gaming Association Chairman James Siva, Pechanga Development Corporation Vice President of Public and External Affairs Jacob Mejia, and former California Gambling Control Commissioner and gaming executive Richard Schuetz. (Image: Global Gaming Expo) The California …

There’s already one California sports betting initiative that’s been approved for the 2022 ballot, and now a group of Golden State cities is pushing for another. Players gather at the Kings Card Club in Stockton, Calif. Last week, officials from three California cities submitted a proposed sports betting referendum to the state attorney general’s office. (Image: VisitStockton.com) On Thursday, an organization named Cities for Responsible Sports Betting announced it filed a proposed measure with the California Attorney General Rob Bonta. The California Sports Wagering and Consumer Protection Act is currently posted on the attorney general’s website for a 30-day public comment period. The measure’s title is the same as a …

The 2020 Olympics, contested a year late in 2021 because of COVID-19, are finally over.  Allyson Felix celebrates after winning bronze in the women’s 400-meter final on August 6, 2021. One major sportsbook said women’s sports during the 2020 Olympics garnered more betting action in the US than men’s competitions. (Image: Getty) One leading US sportsbook says women’s sports largely generated the betting action over the past two weeks. Australia-based PointsBet is licensed to facilitate sports betting in six US states — Colorado, Iowa, Illinois, Indiana, Michigan, and New Jersey. And in terms of Olympics betting for its US operations, Jay Croucher, head of trading for PointsBet, says roughly 60 …

DraftKings (NASDAQ:DKNG) again increased its full-year revenue outlook today following a strong set of second-quarter results, which the company delivered earlier. DraftKings CEO Jason Robins in a CNBC interview earlier today. The company again raised 2021 revenue guidance (Image: CNBC) The sportsbook operator now expects 2021 sales of $1.21 billion to $1.29 billion, up from the guidance of $1.05 billion to $1.15 billion issued in May. That new outlook was helped by a strong showing in the April through June period in which DraftKings generated revenue of $298 million. That beat Wall Street estimates by $50.78 million, and represents a 320 percent year-over-year increase. While the gaming company lost 76 …

The Barstool Fund is here to stay.  Kenney’s Irish Pub in Michigan expresses its thanks to the Barstool Fund and founder Dave Portnoy last year. Portnoy revealed this week that the charity is now a permanent resource for businesses enduring hardship. (Image: FOX 2 Detroit) Barstool Sports founder Dave Portnoy says his nonprofit, formed last year to assist small businesses, is becoming a permanent charitable organization.  Portnoy established Barstool Sports in 2003. He sold a 36 percent stake in the digital media turned sports betting company to Penn National Gaming in January of 2020 for $163 million. The Barstool Fund launched in December of 2020. To date, it’s received more …