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UK-based betting outfit Colossus Bets is suing DraftKings in a Delaware federal court. It claims the American company has infringed its patent rights by offering a “cash-out” function via its online sportsbook. Colossus Bets founder Bernard Marantelli, above, said in a statement that his company takes its intellectual property “extremely seriously” and will protect it …

Sports Entertainment Acquisition Corp. (NYSE:SEAH), the special purpose acquisition company (SPAC) merging with Betway parent Super Group, is earning kudos from a sell-side. That indicates there’s some enthusiasm for what’s likely to be one of the fourth quarter’s largest blank-check deals. Betway parent Super Group draws praise from analysts. Its SPAC deal is expected to …

UPDATE (3:45 pm ET) – This article has been updated to include information on the Seminole Tribe of Florida’s emergency appeal to the District of Columbia US Circuit Court of Appeals seeking a stay of US District Judge Dabney Friedrich’s order.  A federal judge late Wednesday ruled against the Seminole Tribe when she declined to …

Sports betting in New York is getting ready to expand, thanks to the pending launch of mobile applications. But state Sen. Joseph Addabbo, D-Queens, is already looking to take another step and get the racetracks involved. Horses race on the turf course at Aqueduct Racecourse in Queens, NY. On Friday, state Sen. Joseph Addabbo filed …

Amid ongoing enthusiasm for sports wagering equities, particularly among younger retail investors, a new exchange traded fund (ETF) addressing the segment is here. A new sports betting ETF listed on the Nasdaq. It faces established competition. (Image: Bloomberg) The iBET Sports Betting & Gaming ETF (NASDAQ: IBET) debuted Tuesday, becoming the second ETF dedicated to …

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 …

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 …

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 …

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 …

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) …