Top Stories for July 5, 2024

Written by:
C Costigan
Published on:

These are your hot trending top stories for today July 5, 2024.   Euro 2024 Knockout Rounds, Uruguay vs. Brazil: Copa America Showdown, Biden Crisis, Bitcoin Plunge, Tories Tank in Landslide.


Gambling Industry

Gambling Firms Admit to Using High Risk Features in U.S. Market That They Prohibit in the UK

The European companies behind FanDuel and BetMGM admit to using features in America that they dropped in Britain after acknowledging said features presented risks to gamblers.

In 2018, British regulators sanctioned the UK arm of online gambling giant Flutter after it failed to catch an astonishing anomaly. The head of an animal shelter had been embezzling money from his employer to fund his bets, losing what the charity said was more than half a million dollars over four years.  A fine of $2.8 million was imposed as a result and Flutter’s Chief Executive Peter Jackson publicly apologized for allowing the problem gambler to continue placing bets.

From Reuters:

"Over the next few years, another one of Jackson’s customers — this time in America — spiraled even further out of control, gambling millions of dollars of stolen money with Flutter’s U.S. brand FanDuel. Amit Patel, then a mid-level finance manager at the Jacksonville Jaguars football team, deposited $20 million of his employer’s money into his FanDuel account between 2019 and early 2023, and then lost most of those embezzled dollars, according to court documents. Patel and the British animal-shelter chief each pleaded guilty to fraud."

Despite the enormous sums, FanDuel didn’t question the source of Patel’s funds until late 2022, his lawyer, Alex King, told Reuters.

"In Britain, where online gambling is more established than the United States, Flutter and other bookmakers have in recent years acknowledged some of their previous practices risked causing harm and ended those practices. Some have also publicly accepted a responsibility to protect customers from problem gambling as cases of addiction, suicide and gambling-related crime stacked up there.

"But in the booming American market, Dublin-based Flutter and Britain’s Entain (ENT.L) — which jointly owns U.S. sports betting company BetMGM — have not implemented many of those same safeguards. They also routinely employ practices they discontinued in Britain after admitting they put UK gamblers at risk, Reuters found, based on a review of corporate filings, company statements, executive testimony to lawmakers, job advertisements and interviews with gamblers and former employees."

One feature prohibited in Great Britain that is common in the U.S. is allowing some online slots features such as enabling gamblers to set the game to play automatically without even having to watch the screen.

Flutter in 2021 introduced a limit for UK customer bets on online slots games to £10 per spin, or about $13 after identifying a trend in its data that “suggested that customer risk levels may increase more sharply” among clients wagering more.

In the U.S. customers are allowed to bet  $800 on each spin.


Man Accused of Fatal Shooting Arrested in Raid on Illegal Gambling

A man accused of a deadly shooting in Fresno back in April was taken into custody following a brief chase.

Robert Phompong, 41, was arrested Wednesday while police were serving a warrant related to an investigation of illegal drugs and gambling, police said in a news release.

Police accused Phompong of the killing of Yong Vang, a 42-year-old man shot to death just outside a truck about 4 p.m. April 8.

Police said four days after the killing they had acquired a warrant for Phompong’s arrest.

Vang was shot once during a confrontation, police previously said.


Joe Biden Crisis

Biden Christmas Message on July 4?  Odds Recover Slightly Friday Morning - Maybe some much needed good news for the Biden camp Friday, though we should probably remove the word "much".  His odds recovered only slightly from a 5-year low of 7-1 to become President to +650, or a half point improvement at BetOnline.

But this news comes after Biden appeared to think Santa Claus was coming on the 4th of July?

Biden appeared on-stage with First Lady Jill Biden, Vice President Kamala Harris, and Second Gentleman Doug Emhoff, as Harris said, “Happy 4th of July, everyone! Happy Independence Day! And today as we celebrate freedom, as we celebrate the promise of America, we also celebrate and express our gratitude to our service members, to our veterans, to our military families.”

But he also used Santa Claus’ famous Christmas greeting, “Ho, ho, ho!”, which certainly raised some eyebrows.

Biden Drops Out of Presidential Race Now Nearing 70% at Betting Markets - BetOnline had Biden the -130 favorite to drop out of the presidential race this month.  That number doesn't necessarily stand out too much.  What does is the price on his chances of winning the election.  He's now at unprecedented +700 odds, the biggest number we've seen since pre-2020.  Donald Trump's number hasn't exactly gone through the roof as a favorite.  He remains priced at -170 while Vice President Kamala Harris hasn't moved much over the last 24 hours at 4-1 or +400. 

With just over $11 million bet at Polymarket, 68% of the public had Biden exiting the race overnight Thursday. That number had actually eclipsed 80% on Tuesday prior to the Biden campaign insisting he will be staying in.

Wealthy Dem Donors Saying No to Biden: Disney Backing Harris - Disney heiress, Abigail Disney (pictured below), and other wealthy Democratic donors say they won’t finance the party until Joe Biden drops out.  


“I intend to stop any contributions to the party unless and until they replace Biden at the top of the ticket.  This is realism, not disrespect. Biden is a good man and has served his country admirably, but the stakes are far too high,” Abigail Disney said in a lengthy statement to CNBC. “If Biden does not step down the Democrats will lose. Of that I am absolutely certain. The consequences for the loss will be genuinely dire.”

Disney pointed to Vice President Kamala Harris as a solid alternative to Biden, arguing she’d be able to defeat Trump.

“We have an excellent Vice President.  If Democrats would tolerate any of her perceived shortcomings even one tenth as much as they have tolerated Biden’s (and let’s not kid ourselves about where race and gender figure in that inequity) and if Democrats can find a way to stop quibbling and rally around her, we can win this election by a lot,” Disney said.

A New York Times/Sienna College poll taken after the debate showed Biden behind Trump by 6 percentage points among likely voters.

Gideon Stein, the president of the Moriah Fund, said he’s decided to pause planned donations of $3.5 million while Karla Jurvetson, a philanthropist and major Democratic donor, has also hinted at pushing the pause button.

Biden Commits to Staying in the Race But at What Cost? President Joe Biden has reaffirmed his commitment to run for re-election in 2024, despite growing concerns about his cognitive health and declining support within the Democratic Party. Discussions among party leaders and media outlets suggest that if Biden were to withdraw, Vice President Kamala Harris would likely become the nominee. However, Harris's potential candidacy is also met with skepticism due to her perceived challenges in winning a general election. The debate over Biden's fitness for office and the potential replacement options highlights a significant rift within the Democratic Party as it prepares for the upcoming election.


Euro 2024 Knockout Rounds

Ally Melendez and soccer betting expert James Tzanoudakis break down the highly anticipated Euro 2024 knockout round match between Spain and Germany. Can Spain's midfield magic outclass Germany's powerhouse defense? Get the latest insights and betting tips to make your best picks!

Join Ally Melendez and soccer betting expert James Tzanoudakis as they analyze the electrifying Euro 2024 knockout round clash between Portugal and France. Will Ronaldo's magic outshine Mbappe's speed? Discover their insights and betting tips for this high-stakes match!


Uruguay vs. Brazil: Copa America Showdown Analysis

Join host Ally Melendez and soccer betting expert James Tzanoudakis in this action-packed episode of BetOnline All Access! They delve into the Euro 2024 knockout round matchups, featuring Spain vs. Germany  and Portugal vs. France  Plus, get their expert analysis on the thrilling Copa America clash between Uruguay and Brazil . From predictions to betting tips, we've got you covered for an exciting weekend of soccer!


Tories Decimated

Labour is on course for a landslide victory as the Conservatives face their worst ever general election night, early results suggest.

Sir Keir Starmer is heading to Downing Street with a majority of 170, according to an exit poll for the BBC, ITV and Sky, with the Tories reduced to 131 MPs.

Reform UK is taking large amounts of votes from the Tories and has finished second in a string of seats, as well as getting its first MP elected, with leader Nigel Farage's result still to come.

This will thus end 14 years of chaotic control by the Tories over the last 14 years.

Sports Betting

Things to Consider While Making Bets on Internet Platforms

Sports betting can now be accessed by people all around through the internet. Participating in events anywhere, bettors from all around the world increase their possibilities and improve their experience. This worldwide reach also allows bettors to interact with a varied community, picking knowledge from the experiences and tactics of others. Betting on foreign sports events exposes bettors to new sports and tournaments and extends their betting horizons. This article goes through several things that need to be considered while online betting.


Series Previews

Mets @ Pirates - The Mets are playing better than the Pirates of late and have had the upper hand in the series recently, posting a 6-1 record against Pittsburgh.  Each of the slated Mets starters have pitched well against the Pirates current roster. Luis Servino, scheduled to start on Friday, has conceded just two runs with a 3-0 record in 17 career innings against the Pirates.

Red Sox @ Yankees - The Yankees struggles of late are real.  They've only won two of their last ten games.  Boston has been playing quite well of late.  This series taking place in New York assures value for the Red Sox each game while the Yankees remain in a vulnerable spot.  Boston has won six of the last ten games in this series.

Giants @ Guardians - San Francisco has won five of the last six in this series dating back to 2022.  After a sluggish start, San Francisco seems to be making up for lost time of late while the Guardians are struggling just a bit.

Orioles @ Athletics - Baltimore is 7-3 in the series over the last ten games.  They've won six of their last eight.  Oakland has won three straight games but that was against the Angels.


Bitcoin Falls  

Bitcoin's value dropped to a two-month low of $57,000.  ETF hype fading, German government asset liquidation, and other market factors likely spooking the sector.  The token stormed to an all-time high of above $70,000 in March this year after the approval of the first U.S. spot bitcoin ETF.  Minutes from the Federal Reserve’s June meeting showed officials are reluctant to lower interest rates until additional data shows inflation moving toward the central bank’s 2% target.


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