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The familiar catalysts of rising consumer penetration and increasing state-level legalization could drive the North American online casinos and sports wagering market to $42 billion, according to CFRA Research. Bettors celebrate at the FanDuel sportsbook at the Meadowlands, above. CFRA forecasts big growth for iGaming and sports betting. (Image: Reuters) In a note to clients, analysts Andrew Tam and Tuna Amobi point out that the US sports wagering market is still in its formative stages, but gaining significant traction. That’s following the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA). They call PASPA a “watershed event in the evolution of this market.” The analysts see …

Internet casino and online sports wagering operator Codere Online said today it’s merging with special purpose acquisition company (SPAC) DD3 Acquisition Corp. II (NASDAQ:DDMX). That paves the way for the target to become Latin America’s first publicly traded online gaming firm. Codere Online Managing Director Moshe Edree, pictured above. That company is merging with a SPAC and will list in the US. (Image: Twitter) The transaction values Codere at an estimated pro forma enterprise value of approximately $350 million, or 2.3x the operator’s forecast 2022 sales of $150 million. That implies a market capitalization of $500 million. Assuming no redemptions by DD3 investors, Codere expects to emerge from the deal …

A London-based marketing agency has been criticized for brokering deals between elite soccer teams and betting companies. The betting firms allegedly want to use the global reach of Europe’s top leagues as a springboard to target illegal markets. LoveBet’s sponsorship of Burnley in the 2019-20 season (pictured) saw players carrying the Mandarin version of the operators’ logo on their jerseys. (Image: Getty) SportQuake proclaims on its website that it “helps brands connect to the global football [soccer] phenomenon.” But it has been called out by The Athletic for its role in steering English Premier League teams towards deals with obscure betting companies. Those firms allegedly use the controversial “white-label” licensing …

One month after it was announced Matt King would leave FanDuel, it appears the CEO of the sports betting and technology company has found his next gig. Matt King, the soon-to-be departing CEO of FanDuel, reportedly will start work at Fanatics once he leaves the sports betting and daily fantasy operator. That’s according to a report published Monday by Sportico. (Image: CNBC) Sportico reported Monday that King will land at Fanatics, a sports e-retail giant. It’s uncertain when exactly he’ll arrive at the Jacksonville, Fla.-based company. The sports business news site cited anonymous sources, who noted King would join once he leaves his FanDuel perch this summer. King wasn’t the …

Canadian senators on Monday turned down by a wide margin an amendment that would have kept lawmakers from giving a final reading to a bill legalizing single-game sports betting in the country’s criminal code. Canadian Sen. Brent Cotter votes against an amendment to a bill to legalize single-game sports betting in the country. The body is set to vote tomorrow to pass the bill, one of the last steps needed before it can become law. (Image Senate of Canada) After that victory, supporters called for a vote on the third reading of C-218. That vote is set to take place Tuesday at 3:30 pm ET. A sincere thank you for …

Bally’s (NYSE:BALY) has a foot in the door for sports wagering in Kansas, assuming the state gets around to legalizing the activity. Scenes from a NASCAR race at Kansas Speedway. Bally’s is preparing for sports betting in Kansas. (Image: Kansas City Star) On Monday, the gaming company said it inked an accord with Boot Hill Casino & Resort in Dodge City to bring the Bally Bet mobile sportsbook app to the state if and when regulated sports wagering is approved there. The agreement brings Bally’s access to a 14th state. The number is increasing because of  the operator’s penchant for acquisitions. If sports betting goes live in the state, Boot …

Police in Hong Kong say they have dismantled a triad-controlled gambling ring and seized the largest number of illegal betting records tied to a single operation in a decade. Hong Kong police display evidence, including over $1 million in cash, seized from a network of apartments across Hong Kong during raids Sunday. (Image: SCMP) According to a police source who spoke to The South China Morning Post, the handwritten documents show the triad bookies handled more than US$438 million in illegal bets on horse racing and soccer games. That’s in the first four months of 2021 alone. The ring had only been in operation for around a year, police believe. …

Jon Rahm won his first major title with a victory at the US Open last Sunday. His Torrey Pines heroics on the final two holes also resulted in him becoming the first Spaniard to win the US national championship. Jon Rahm celebrates yet another clutch putt, this one of the 72nd hole of the US Open at Torrey Pines. The 18-footer turned out to be the winning putt. (Image: The San Diego Union-Tribune) For oddsmakers, however, Rahm’s triumph provided little reason to celebrate.  Prior to round one, BetMGM revealed that the 26-year-old was responsible for the most money wagered (11.4 percent), and most tickets (8.0 percent) among the 156-player field.  …

The Canadian Senate is expected to resume debate Monday on C-218, the bill to legalize single-game sports betting in the country. Members will likely have to decide on an amendment supporters say could derail the bill’s chances of passage. Canadian Sen. David Wells speaks Thursday during a Senate session in Ottawa on behalf of C-218, a bill that would legalize single-game sports betting in the country. The debate is set to resume Monday on the bill. (Image: Senate of Canada) Monday also starts the final week of the Senate’s session before it adjourns for the summer. There’s been speculation that the Canadian government will look to dissolve Parliament before it …

Ohio Senate Bill 176 gets a lot of attention for the fact it would legalize sports betting in the Buckeye State. However, there’s another provision in the bill that would allow electronic instant bingo, also known as e-bingo, at roughly 875 facilities across the state. As a result, some gaming companies that operate casinos in the state have come out against the bill. The interior of JACK Thistledown Racino in North Randall, Ohio. JACK Entertainment is among the gaming companies that have raised concerns about efforts to legalize e-bingo machines across the state. (Image: JACK Entertainment) On Wednesday, just a couple hours after the Senate voted 30-2 to pass SB …