Tag

Online Betting

All articles tagged with #online betting

business2 months ago•12 min saved

From College Dropout to Billionaire: The Rise of Polymarket's Shayne Coplan

Polymarket, founded by college dropout Shayne Coplan, is a prediction market platform that allows users to bet on various current events, including elections and cultural phenomena. It has gained significant backing, including from the NYSE, and is valued at $9 billion, with plans to reach a billion users. Despite regulatory challenges and criticism, it leverages crowd wisdom to predict outcomes more accurately than traditional polls.

via CBS News|

#2024-election #business #online-betting

business1 year ago•4 min saved

Unlock Exclusive Bet365 Bonuses with New Promo Codes for Sports Events

New customers can use the Bet365 bonus code "BETTINGCOM" to access welcome offers, including a $1,000 First Bet Safety Net or a Bet $5, Get $150 in Bonus Bets promo. The platform is praised for its user-friendly design and extensive game library. To qualify, users must be new to Bet365, located in eligible regions, and make a minimum $5 deposit. Bonus bets must be used within 7 days and are not withdrawable, though winnings can be kept. Responsible gambling resources are provided.

via Scioto County Daily News|

#bet365 #bonus-code #business

sports-business2 years ago•1 min saved

ESPN and PENN Entertainment Join Forces in $2 Billion Sports Gambling Deal

Casino owner PENN Entertainment has ended its partnership with Barstool and struck a $2 billion deal with ESPN to create ESPN Bet. The online Barstool Sportsbook will be rebranded as ESPN Bet, with ESPN talent promoting the betting service. PENN will make $1.5 billion in cash payments to ESPN over the next decade and grant ESPN around $500 million worth of its shares. In return, PENN secured exclusive rights to the ESPN Bet trademark for 10 years.

via CNN|

#barstool #espn #online-betting

sports2 years ago•2 min saved

Kentucky Approves Sports Betting Regulations, Launch Set for September

Kentucky has approved new regulations for sports betting, allowing brick-and-mortar sports books to start taking wagers on September 7 and online bets on September 28. The state tied sports wagering to its horse racing industry, and all 11 horse racing facilities can now apply for a retail sports book license. A total of 14 retail sports books could be operating in the state, with Churchill Downs and FanDuel already announcing their partnership. The initial license fee is $500,000, with a $50,000 renewal fee. The projected yearly revenue from sports betting is $23 million, and online betting will start two weeks after retail wagering to fine-tune regulations and address challenges.

via WLKY Louisville|

#horse-racing #kentucky #online-betting

business2 years ago•2 min saved

DraftKings' Q1 Revenue and Guidance Raise Propel Stock Soaring

DraftKings reported a Q1 loss of $397.1 million, or 87 cents a share, but revenue increased to $769.7 million from $417 million in the same quarter last year, beating Wall Street's expectations. The company's executives increased their forecast for 2023 revenue to a range of $3.14 billion to $3.24 billion, after previously stating $2.85 billion to $3.05 billion. DraftKings has focused on profitability in recent quarters, taming promotional material as several states that legalized sports gambling in recent years grew into more mature markets and fewer states come online.

via MarketWatch|

#business #draftkings #online-betting

politics2 years ago•1 min saved

Kentucky and North Carolina Take Opposite Stances on Sports Betting

Kentucky has become the 37th state to legalize sports wagering after the Senate passed House Bill 551, which Governor Andy Beshear has pledged to sign. The bill allows betting on games at the state's nine horse tracks and casino-style historical horse racing venues, but not at other physical locations. The bill mandates that even online- and app-based wagering platforms like FanDuel and Draft Kings have agreements with a horse track to get a license. The measure is expected to generate about $22 million annually in tax revenue for the state.

via WDRB|

#horse-racing #kentucky #online-betting