All articles tagged with #sports betting
A federal indictment accuses dozens of bettors and athletes in NCAA men’s basketball and the Chinese Basketball Association of conspiring to fix at least 29 games through point-shaving, expanding a widening gambling scandal across college and professional hoops.
NCAA President Baker issued a statement on indictments related to sports betting in college athletics and urged the remaining states to ban risky bets to protect student-athletes and preserve the integrity of college sports.
Prediction markets, especially in sports, are rapidly growing and being integrated into mainstream trading platforms like Robinhood, blurring the lines between gambling and investing, and raising regulatory and ethical questions about their role in finance.
Robinhood is expanding its prediction markets platform to include NFL parlay and prop bets, allowing users to trade combinations of game outcomes and individual player performances, with future plans to include other event categories and asset classes, aiming to become a leading hub for prediction markets and diversify its revenue streams.
The U.S. sports betting and online casino industry is rapidly expanding, generating significant tax revenue but also leading to increased financial and emotional distress among young men, with rising bankruptcy, debt, and helpline calls, compounded by AI-driven marketing and industry growth.
Fanatics is launching its own prediction market platform, Fanatics Markets, in 24 US states, allowing users to trade on events across sports, finance, and culture, with plans to expand into crypto, stocks, and music, amid a growing trend of prediction markets following the legalization of online sports betting.
Aaron Rodgers is playing with at least three fractures in his left wrist, highlighting concerns over NFL's injury reporting transparency and its impact on sports betting integrity.
Major League Baseball has imposed betting limits on individual pitches following a scandal where Cleveland pitchers Emmanuel Clase and Luis Ortiz were indicted for allegedly accepting bribes to manipulate pitches, with MLB aiming to reduce integrity risks associated with such bets by capping wagers and banning parlays on pitch-level outcomes.
Major League Baseball and leading sportsbooks have agreed to implement a nationwide $200 limit on bets placed on individual pitches and to exclude such bets from parlays, aiming to prevent manipulation following investigations into suspicious betting activities involving players Luis Ortiz and Emmanuel Clase. The move is part of MLB's efforts to protect game integrity and combat gambling-related corruption, with industry leaders like DraftKings and FanDuel collaborating to enforce these measures.
Media-branded sportsbooks like ESPN Bet and others have struggled to gain traction in the competitive U.S. sports betting market, with many failing despite heavy promotion and brand ties, highlighting the dominance of established players like DraftKings and FanDuel. ESPN Bet, launched in 2023, has only captured about 3% of the market, far below its target, due to overestimating the influence of media branding and viewer trust. The industry is shifting towards partnerships with existing successful sportsbooks, such as ESPN's new deal with DraftKings, which will continue to operate under its own name.
The NCAA has revoked the eligibility of six men's college basketball players for manipulating games to influence betting outcomes during the 2024-25 season, including game fixing and providing insider information, with additional investigations ongoing into player betting activities.
The NCAA has revoked the eligibility of six college basketball players for betting-related violations, including game manipulation and providing betting information, amid ongoing investigations into sports betting scandals across various leagues.
MLB Trade Rumors has launched a free agent prediction contest where participants can guess the destinations of the top 50 free agents, with deadlines, prizes, and rules outlined, including a leaderboard and prize money for top predictors.
DraftKings has become ESPN's official sportsbook provider after ESPN and Penn Entertainment ended their exclusive ESPN Bet deal early, which benefits DraftKings' stock. Disney's strategy for ESPN is evolving, with new integrations planned for 2026, while Penn focuses on its regional casinos and online gaming. The sports betting market remains competitive, with DraftKings and FanDuel holding significant shares, but concerns about competition and regulatory issues persist. Disney and Penn's stocks experienced mixed reactions following these developments.
ESPN Bet is shutting down in December after Penn Entertainment ended its $1.5 billion 10-year deal, and ESPN will now partner with DraftKings Sportsbook, marking a significant shift in the sports betting industry and Penn's strategic focus.