Business & Financial

UIGEA Co-Author: ‘Never Intended to Cover Daily Fantasy Sports’

In a riveting piece written this past week on the ThinkProgress.com website, reporters Sacha Friedman and Josh Israel delve into the bold new world of daily fantasy sports.

Submitted by Aaron Goldstein on, Sat, 05/09/2015 - 17:02

NHL May Be Closer to Setting Up Team in Vegas

The National Hockey League board of governors are set to hold meetings next month in Las Vegas, an event signaled as the NHL warming up to having a team based in the gambling capital. It is here they will formerly announce the expansion process.

Submitted by Ean Lamb on, Sat, 05/09/2015 - 16:38

Cameron Victory a Win for UK Gambling Firms, ‘Crack Cocaine’ Fixed-Odds Terminals

UK betting firms can breathe a collective sigh of relief following Thursday’s election results in which PM David Cameron remains in power.

British bank stocks soared, led by Lloyds Banking Group Plc and Barclays Plc, as Cameron’s Conservative party unexpectedly secured a parliamentary majority, Bloomberg Business reported Friday.

Submitted by Aaron Goldstein on, Fri, 05/08/2015 - 10:42

Nevada Judge to Decide if Sands Wrongful Termination Case Should Proceed

LAS VEGAS (Associated Press) — A Nevada judge will decide if a wrongful termination case against Las Vegas Sands Corp. can proceed nearly five years after it was first filed.

District Court Judge Elizabeth Gonzalez heard closing arguments Thursday morning from lawyers representing former Sands China Ltd. CEO Steven Jacobs and casino-hotel company Las Vegas Sands.

At issue first is whether the case can be tried in Nevada since Sands China's operations are based in the lucrative Asian gambling enclave of Macau.

Submitted by Associated Press on, Fri, 05/08/2015 - 10:26

FantasyAces.com to Pay Out $250K Prize Days After Daily Fantasy Sports Expo

FantasyAces.com, a two-year-old daily fantasy sports website, promises a $250K payday on August 15, just days after the first ever Daily Fantasy Sports Expo in Miami Beach August 6-7.

Submitted by Aaron Goldstein on, Thu, 05/07/2015 - 20:02

MLB Commish Rob Manfred on DFS: ‘Need to be Competitive in That Space’

Speaking at Kauffman Stadium, home of the Kansas City Royals, newly appointed Major League Baseball Commissioner Rob Manfred spoke candidly about his league’s decision to partner up with daily fantasy sports firm Draftkings. He also discussed the prospects of legalized sports wagering.

Submitted by Don Shapiro on, Thu, 05/07/2015 - 17:41

Adelson Poll Shows Three Quarters of Those in PA Reject Online Gambling

Casino magnate Sheldon Adelson, whose Sands Casino in Allentown, PA is the state’s most successful, funded a poll that found nearly three quarters of Pennsylvania’s residents oppose online gambling.

Adelson stands in staunch opposition to legalizing Web gambling at the federal level and has helped draft legislation that would prohibit the activity.

Submitted by Aaron Goldstein on, Wed, 05/06/2015 - 22:56

Bwin and Sands Big-Wig Jason Ader Is At It Again With MD Insider

Jason Ader, a long-time friend to Gambling911 is at it again. The big-wig New York hedge-fund guru is now revolutionizing the healthcare arena, with his investment in MD Insider, which is based in California and using big data to evaluate physicians.

Submitted by Aaron Goldstein on, Wed, 05/06/2015 - 15:42

Move Over ISIS: Macau Beheading Plot Discussed at Sheldon Adelson Testimony

LAS VEGAS (Associated Press) — Casino mogul Sheldon Adelson found himself answering questions in a Las Vegas courtroom on Tuesday about what he knew about a plot to behead employees in Macau and if Chinese government promises were broken as Las Vegas Sands Corp. developed properties on the lucrative Cotai Strip.

Submitted by Associated Press on, Wed, 05/06/2015 - 10:34

Chinese Officials Funding US Political Campaigns: Adelson Denies Ties

If big money donors really do make a difference in the U.S. political landscape, the next American President could be determined by….the Chinese?

Submitted by Gilbert Horowitz on, Tue, 05/05/2015 - 21:35

Oppenheimer, Vulcun Reps to Speak at First Ever Daily Fantasy Sports Expo

Want to raise money for your existing or start-up daily fantasy sports website? The place to be this August 6 and 7 in Miami Beach, Florida at the first ever Daily Fantasy Sports Expo.

Sayke Reilley has been announced to speak on the subject of Raising Money for Daily Fantasy Sports.

Submitted by Payton on, Tue, 05/05/2015 - 20:19

MGM Resorts Q1 Profits Up 65 Percent: Beats Wall Street Expectations

LAS VEGAS – (Associated Press) - MGM Resorts International posted a profit of $169.9 million, or 33 cents a share, in the quarter that ended March 31. That was up 65 percent compared to the same time a year ago and easily beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

Submitted by Associated Press on, Mon, 05/04/2015 - 20:46

Mondogoal.com Goal: To Be the World’s Top Destination for Fantasy Soccer

ISLE OF MAN -- It looks like deja vu for this tiny island off the coast of England that used to be a British territory but is now an independent nation.

A decade ago, some of the biggest online poker sites flocked here to set up shop.

Gambling laws were lax, the location was remote and the semi-air of British authority gave the poker sites a feel of legitimacy.

Submitted by Thomas Somach on, Mon, 05/04/2015 - 20:31

DraftKings NASCAR Rumors in Full Throttle Ahead of Indy 500

A Gambling911.com source has revealed that NASCAR will be the next professional sport to enter into a sponsorship deal with a daily fantasy sports company. The leading suitor is said to be DraftKings.

One only needs to explore the NASCAR properties to notice how popular daily fantasy sports is becoming among race fans.

And this news should shock anyone who has been following NASCAR industry news in recent weeks.

Submitted by Aaron Goldstein on, Mon, 05/04/2015 - 12:39

Sportsbooks Come Out on Top With Mayweather-Pacquiao Fight

It was billed as the “Fight of the Century” and certainly lived up to all the hype, at least where the gambling world is concerned.

Submitted by Aaron Goldstein on, Sun, 05/03/2015 - 09:55

Mayweather vs Pacquiao Vegas Odds: Flood of Money Coming in on Pacman

Mayweather vs. Pacquiao Vegas odds were all over the map with early action coming in on Manny Pacquiao.

Submitted by Aaron Goldstein on, Sat, 05/02/2015 - 16:50

Mayweather-Pacquiao Most Popular Bets: Fight Shatters Online Records

Carrie Stroup here with your Mayweather-Pacquiao fight most popular bets – those that were seeing the most wagering action at Sportsbook.ag.

Submitted by Carrie Stroup on, Sat, 05/02/2015 - 12:41

Betting on the Mayweather Pacquiao Fight to Exceed $60 to $80 Million

Experts predict that betting on the much ballyhooed Mayweather Pacquiao fight will range between $60 and $80 million. And that’s only in the state of Nevada.

Submitted by Tyrone Black on, Fri, 05/01/2015 - 19:28

Current Line on the Mayweather-Pacquiao Fight: Wiseguy-Bookie Cat and Mouse

The current line on the Mayweather-Pacquiao fight as of Friday morning was coming in at -195 for Mayweather and +165 for Pacquiao.

Submitted by Tyrone Black on, Fri, 05/01/2015 - 10:56

Any Online Sportsbooks Accept Bitcoin for Mayweather-Pacquiao Fight?

BetOnline is the latest online sportsbook to accept the anonymous digital currency Bitcoin and will be doing so for the Mayweather-Pacquiao fight. They have been a long time sponsor of the Gambling911.com website.

Submitted by C Costigan on, Thu, 04/30/2015 - 15:40

Verdict to be Rendered Shortly in Luke King Billion Dollar Sports Betting Case

A verdict was anticipated in the coming days in the case of Legends Sports founder Bartice “Luke” King, who is charged with running an online sportsbook for well over a decade that allegedly took in over a billion dollars.

Submitted by Gilbert Horowitz on, Thu, 04/30/2015 - 11:38

666Bet.com Making Some Payouts Following Disarray, Arrest

Some customers report receipt of payment from shuttered 666Bet.com following anxious weeks of waiting.

The company has addressed the issue further by advising that customers will now need to open Skrill accounts in order to request withdrawals.

We are aware of the problem with pending withdrawals from March and are working a resolution to return balances to customer accounts asap.

Submitted by Aaron Goldstein on, Wed, 04/29/2015 - 22:52

Betfair Account Recovery System Flaws Raise Alarms

Betfair, Europe’s largest betting exchange, has reassured its customers that it is fixing issues uncovered with its account recovery system.

A major security flaw was detected by users in recent days.

From the Register:

Submitted by Aaron Goldstein on, Wed, 04/29/2015 - 11:52

Poker Site Owner DFS Critique: ‘Like Crack Dealer Warning About Fen Phen’

Many a daily fantasy sports player has taken issue with Americas Cardroom CEO Phil Nagy’s recent critique about the dangers of the Daily Fantasy Sports (DFS) sector.PokerFuse.com interviewed Nagy recently, who warned that many of these new daily fantasy sports websites will likely go under by year’s end and players wrongfully believe that most are regulated. They are not.

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Submitted by Aaron Goldstein on, Tue, 04/28/2015 - 19:40

Ex-Wife of Wynn Won’t Stay on Board of Wynn Resorts

LAS VEGAS (Associated Press) — Elaine Wynn failed Friday to win re-election to the board of Wynn Resort Ltd. — the casino-hotel company she co-founded with ex-husband Steve Wynn — a development that ended a feud over the issue.

Shareholders who had to decide between re-electing Elaine Wynn or agreeing with a company recommendation to re-elect two other sitting board members ultimately sided with the company.

Submitted by Associated Press on, Mon, 04/27/2015 - 20:33

China Targets Gambling Mecca Macau in Latest Corruption Crackdown

(Reuters) - China's fight against corruption has spread to the world's largest gambling hub, the former Portuguese colony of Macau, where seven people including government officials are being investigated for graft, including accepting bribes.

The developments are in stark contrast to last year, when no high-profile officials were questioned about bribery, according to the website of Macau's Commission Against Corruption. The commission did not immediately respond to a request for comment.

Submitted by Reuters on, Mon, 04/27/2015 - 10:10

Jimmy Vaccaro: Vegas Derby Record Could be Set Thanks to Mayweather-Pacquiao

Oddsmakers in Vegas aren’t just anticipated huge action on this weekend’s highly anticipated fight between Floyd Mayweather, Jr. and Manny Pacquiao. The Kentucky Derby is happening that very same day (May 2) and at least one oddsmaker believes that fight could help to set Derby betting records.

Submitted by Don Shapiro on, Mon, 04/27/2015 - 09:58

FanDuel Gets Naming Rights on Floyd Mayweather Trunks

The world leader in daily fantasy sports, FanDuel.com, announced this week it has purchased the naming rights to none other than Floyd Mayweather’s trunks. He will have them on full display during his highly anticipated May 2 bout with Manny Pacquiao.

As part of the deal FanDuel will award six tickets to the welterweight fight at the MGM Grand in Las Vegas.

Submitted by Aaron Goldstein on, Sat, 04/25/2015 - 22:48

Goodell Addresses Daily Fantasy Sports, Gambling and the NFL

NFL Commissioner Roger Goodell addressed the Associated Press Sports Editors group Friday on a number of topics, including daily fantasy sports and the role gambling may play in the National Football League (NFL).

In particular, Goodell referenced a number of sponsorship deals between individual NFL franchises (and other professional sports teams) with daily fantasy companies the likes of DraftKings and FanDuel.

From the Canadian Press:

Submitted by Gilbert Horowitz on, Sat, 04/25/2015 - 14:48

BetMayor Casino Complaints: Gambling Company Confiscates $51,000 From Player

A player has reported that BetMayor Casino has confiscated $51,000 in winnings after that individual went on a two-month hot streak, winning 87% of the nearly 40,000 hands.