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Sports
July 15, 2024
Analyst Highlights the Growing Competition in US Sports Betting
Following the repeal of PASPA in 2018, sports betting expanded exponentially across the United States. To date, close to 40 states offer some form of sports betting and with the expansion of wagering, competition increased. Currently, an overwhelming majority of the market share is held by two leading betting operators, namely FanDuel and DraftKings. Combined, […]
Legal
July 9, 2024
Legal Battle between DraftKings and Former Head of VIP Reaches New Juncture
The legal dispute between sports betting giant DraftKings and its former head of VIP, Michael Hermalyn, has intensified, with the US Court of Appeals now hearing arguments over whether California or Massachusetts law should govern the case. The legislative differences in these jurisdictions could impact the case’s resolution, motivating this ongoing debate. The Choice of […]
Industry
July 9, 2024
New Jersey Fines DraftKings over Revenue Reporting Violations
New Jersey’s gambling regulators have slapped the American gambling juggernaut DraftKings with a $100,000 over what they called “unacceptable conduct.” According to the state’s gambling authority, DraftKings had provided inaccurate sports betting data to the state. The violation in question involved overstating the amount of money spent on parlay bets and reporting wrong figures. As […]
Business
July 9, 2024
Wall Street Analysts Bullish on FanDuel and DraftKings’ Long-Term Potential
According to Wall Street analysts, investors are increasingly considering FanDuel and DraftKings as major players in the sports betting and iGaming sectors. FanDuel and DraftKings Lead the Pack in New York’s Sports Betting Market David Katz of Jefferies Equities Research said that FanDuel and DraftKings had been the center of attention for investors, especially in […]
Sports
July 4, 2024
DraftKings Eyes Potential Sale of Vegas Sports Network
DraftKings is said to be thinking about selling the Vegas Sports Information Network (VSiN). VSiN is a Las Vegas-based sports betting radio network that the company bought for $70 million back in March 2021. Analysts are drawing parallels between this possible transaction and Penn Entertainment’s offloading of Barstool Sports last year, when Barstool went back […]
Sports
July 4, 2024
Court Decision Threatens DraftKings’ NFT Enterprises
DraftKings, the prominent online sportsbook operator, is grappling with significant legal and business challenges. A US Judge in Massachusetts recently denied DraftKings’ motion to dismiss a class action lawsuit related to its non-fungible tokens (NFTs), while the operator may also be considering selling off its unsuccessful VSiN media business at a significant loss. NFT Tech […]
Sports
July 3, 2024
Nathan’s Hot Dog Contest Heats up amid Joey Chestnut’s Absence
Traditionally, besides celebrations for Independence Day across the United States, plenty of other exciting events take place on the Fourth of July. Nathan’s Famous International Hot Dog Eating Contest is among the events planned for July 4 but this year, a long-term champion recognized as the greatest of all time, Joey Chestnut, won’t compete in […]
Industry
June 25, 2024
DraftKings Employee Accused of Information Leak, Aiding Extortion
A new lawsuit alleges a senior-ranking employee of DraftKings aided an extortionist, who threatened to kill a New York bettor and asked him to pay a substantial sum to a recognizable sports betting influencer. The case was reportedly filed with the Supreme Court in Queens County, New York, by a person who withheld his identity. […]
Business
June 21, 2024
JP Morgan Highlights DraftKings’ Growth Prospects
Across the United States, DraftKings currently holds a leadership role in a number of markets. As one of the two major operators in the country that hold an overwhelming majority of the market share, the company constantly grows its presence and customer base. This ongoing growth did not go unnoticed with one industry expert confirming […]
Sports
June 18, 2024
Barstool’s Boss Portnoy Wins $1.6M on Celtics Parlay Bet with DraftKings
Barstool Sports’ boss and passionate bettor, Dave Portnoy, is recognized for his hefty wagers on major sports events. Earlier this year, the seasoned bettor was able to turn a $600,000 wager into a massive $2.76 million win after the UConn Huskies won against the Purdue Boilermakers. Sharing his excitement via X, formerly Twitter, Portnoy wrote […]
