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Joe Brennan of Prime Sports mocked Jake Paul after tweeting he was going to be firing the guy who came up with a new baseball promotion at his own sportsbook Betr after someone hit for $60K.
Brennan said "If you can’t take a 60k hit, stick to boxing 50 year old retirees", the implication being that $60K is not very much when it comes to "real" sportsbooks. Ouch!
If you can’t take a 60k hit, stick to boxing 50 year old retirees https://t.co/jMkx269657
— Joe Brennan Jr (@joebrennanjr) July 4, 2024
Stick to boxing https://t.co/VNJoDYnMGI
— Alex Monahan (@AlexMonahan100) July 4, 2024
It gets worse! Well for both Prime Sports and Betr actually.
While the company raised $15M at $375M valuation back in March, the month prior Betr lost its Massachusetts Category 3 Sports Wagering Operator License the month prior as it was not tethered to any Category 1 or 2 Sports Wagering Operator License.
In Ohio, Prime paid out $102,900 above its $2.8 million worth of bets accepted for the month of May. It was the fourth losing month in 2024 for Prime, which is down $531,400 for the year with a minus-1.6% hold on $32.6 million in handle.
Betr’s $24,600 loss was its largest in Ohio, as it finished with a minus-11.1% hold on $220,700 worth of wagers, Sports Handle reported. So, yeah, a $60,000 loss should have Jake Paul fuming we suppose.
Rivers Casino Hit With Nearly Half a Million in Fines
Rivers Casino Portsmouth has again agreed to pay a hefty fine following a slew of violations the Virginia Lottery spotted last year and earlier this year. These included a $545,000 fine in two settlements. One was reached in September and resulted in a $40,000 fine, and the other was reached in May at a cost of $505,000. In September, it was discovered that underage people in August had been granted access to the 24/7 casino floor. Those on the state's self-inclusion list were also permitted to enter. The probe additionally concluded that the Rivers Casino Portsmouth surveillance team lacked adequate controls to supervise the casino properly.
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