Retailer Fanatics Looks to Enter Sports Betting Sector
Sports merchandise company Fanatics is looking to acquire sports gambling firm Tipico as a means to gain access to the lucrative U.S. market, though both sides have hit an impasse on price.
Tipico is currently available in Colorado and New Jersey with a goal to enter additional markets in the future.
Michael Rubin, Fanatics’ executive chairman, announced on Wednesday that he will be selling his minority stake in both the Philadelphia 76ers and New Jersey Devils.
Fanatics began as an American online retailer of licensed sportswear and merchandise and currently operates the e-commerce businesses of major professional sports leagues and collegiant teams.
“As our Fanatics business has grown, so too have the obstacles I have to navigate to ensure our new businesses don’t conflict with my responsibilities as part-owner of the Sixers,” Rubin said in a statement posted on Twitter Wednesday announcing the sale of his 76ers stake. “With the launch of our trading cards and collectibles business earlier this year — which will have individual contracts with thousands of athletes globally — and a soon-to-launch sports betting operation, these new businesses will directly conflict with the ownership rules of sports leagues. Given these realities, I will sadly be selling my stake in the Sixers and shifting from part-owner back to life-long fan.”
Twitch Streamer xQc Loses Over $800,000 After Gambling Due to Glitch
A site glitch caused Twitch streamer xQc to lose his winnings moments after he just won them, according to reports.
The "Internal Server Error" while playing a virtual slot machine, ‘The Wild Machine’, resulted in the losses of more than $800,000.
xQc was initially rewarded $825,000 USD after winning a jackpot on the site.
After hitting the refresh button to continue playing, the streamer encountered the ‘500 Internal Server Error’ page.
He appeared to take the event in stride nonetheless.
“I was gonna go back to Itero and it was gonna go one million downward trend without a single hint of a hit,” he explained.
- Gilbert Horowitz, Gambling911.com
