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SPORTFIVE AND POLYGON JOIN FORCES TO HELP SPORTS AND ENTERTAINMENT RIGHTSHOLDERS AND BRANDS ACCELERATE TRANSITION TO WEB3 SPACE

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Global sports business agency SPORTFIVE and Polygon, the leading L2 platform for Ethereum scaling and infrastructure development and one of the largest blockchain infrastructure providers in the world, today announced a new multi-year partnership. As part of the collaboration, SPORTFIVE becomes the strategic partner for Polygon in sports and entertainment projects. The strategic collaboration builds a powerhouse in the Web3 space focused on reducing complexity and making it easier for both rights holders and brands across the sports and entertainment ecosystem to leverage the opportunities that blockchain technology offers.

The partnership is part of the agency’s global growth strategy, which targets Web3 as one of its key growth areas. Through the collaboration, SPORTFIVE will partner closely with Polygon for Web3 initiatives in the sports and entertainment sector. In doing so, SPORTFIE works with IPs and brands for the management and execution of Web3 projects, including strategy, product, and community development activities in collaboration with various partners. Polygon will provide access to its global network and partnerships, technological and infrastructure expertise, and innovative insights from across the ecosystem to create more value for IPs and brands.

Both parties will collaborate on a global scale with the goal of acquiring premium rights-holder and brand mandates and working hand in hand with them to educate, design, build, operate and market comprehensive and engaging Web3 experiences.

Antoni Martin, Polygon Enterprise Lead, said: “SPORTFIVE’s presence in the Web3 space gives Polygon strategic connections to major sports brands and IP, enabling boundless opportunities for unique and powerful collaborations. We’re eager to accelerate the entry of sports brands and rights holders to the Web3 space with our blockchain solutions, and we look forward to working closely with SPORTFIVE going forward.”

“We are proud to have entered a cooperation with Polygon, representing one of the foremost leaders in Web3. Together with Polygon, we will connect relevant sports and entertainment organizations to expand the infrastructure of the industry in the Web3 space,” said Robert Müller von Vultejus, Chief Growth Officer at SPORTFIVE. “Being able to collaboratively shape the future of sports and entertainment within Web3 with the market leader that is driving innovation and adoption within the Ethereum universe creates a roadmap for future success.”

Stefan Felsing, CEO of SPORTFIVE, said: “We are very pleased to partner with Polygon to further support the commercial development of our Web3 projects. Polygon hosts some of the largest Web3 projects such as Aave, Uniswap, OpenSea, and well-known companies like Meta, Stripe, and Adobe. There is a lot of development and interest around Polygon, and we are honored to be able to help drive the business forward with our network and expertise in the sports and entertainment industry. Together with Polygon, we will find innovative solutions and ensure that the business continues to move upwards.”

Gambling in the USA

New Jersey Gambling Revenue Increases in July

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This summer is shaping up to be a strong one for Atlantic City casinos and their online gambling operating partners. According to the latest data collected by the state, the total gambling revenue for the casinos and their operating partners from in-state online gambling was nearly $250 million during July. That represents a nearly 27% increase over last year’s total revenue for July, and it comes on top of a more than 23% year-over-year increase measured during the month of June.

In all, revenue this year from online gambling through the end of July topped $1.6 billion, up 23.3% compared to the same period last year, according to a report from the state’s Division of Gaming Enforcement, which regularly tracks gambling revenue earned legally in New Jersey.

The revenue gains from online gambling do not appear to have come at the expense of in-person gambling this summer, according to the DGE data. Revenue from gambling at the casinos also grew in both June and July, although at more modest rates, with year-to-date collections totaling $1.66 billion through the end of July, the report said.

Amid the online-gambling revenue upswing, state policymakers decided earlier this summer to increase the state tax levied on legal online gambling offered by casinos and their operating partners.

The online gambling tax hike, as well as an increase in the state tax levied on mobile sports betting, came as part of a broader plan to raise an additional $600 million in annual revenue for the state budget.

The two gambling tax hikes, which went into effect on July 1, are projected to increase the revenues the state collects from casino taxes and fees by more than $200 million annually, according to estimates from the Department of the Treasury.

According to the report issued by Stockton University, which is based in Atlantic County, the casino industry’s gross gambling revenues totaled nearly $5.7 billion in 2024.

Last year, the total from taxes and fees levied on casino operators in New Jersey topped $880 million, according to a report issued earlier this year by Stockton University.

This included $572 million in revenue that went directly into New Jersey’s Casino Revenue Fund, the report said. That fund, by law, benefits programs and services for senior citizens and disabled residents.

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In all, online gambling on traditional casino games, like poker and blackjack, netted casino operators $2.4 billion in gross revenue last year, followed by slots, $2.1 billion; table games, $699.7 million; mobile sports betting, $486.5 million; and in-person sports betting, $6.5 million, according to the report, which cited state data.

And even before the increased state tax rates that were put in place earlier this summer, the tax revenue generated by casino gambling in New Jersey was trending up, the report said.

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Gambling in the USA

Virginia Lawmakers Debate Creating iGaming Agency

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Virginia lawmakers are actively debating whether to establish a new regulatory agency to oversee iGaming. The joint subcommittee discussed a bill to create the Virginia Gaming Commission. It would manage all gambling verticals beyond the lottery.

Delegate Paul Krizek said: “The Virginia Gaming Commission is a step we need to preserve the good.”

Currently, the Virginia Lottery regulates sports betting and casinos, while other agencies manage charitable gaming and horse racing. Lawmakers also considered legalizing online casinos, including real-money platforms.

Delegate Marcus Simon introduced HB 2171 earlier this year. The bill aimed to authorize a real money online casino market under casino-lottery oversight. While the bill failed, Simon explained that the aim remains to curb illegal offshore platforms.

“My goal is to bring it under a regulated umbrella where we can have some oversight and supervision,” Simon said.

The subcommittee reviewed revenue projections estimating up to $5.3 billion in taxable income from online casinos over five years. The estimates included increased land-based casino revenue of 8.4%.

Experts raised concerns about real money online casino risks. Keith Whyte from Safer Gambling Strategies urged strong enforcement and safer gaming tools. Whyte noted: “Players could be encouraged… to take control through deposit limits, time limits, budget calculators, and personalized dashboards.”

Mental health advisor Brianne Doura-Schawohl backed up Whyte’s statement, warning that such products are dangerous without safeguards.

Former New Jersey regulator David Rebuck testified that iGaming complemented land-based casinos there. He pointed to New Jersey’s market, where online play boosted tourism and in-person casino revenue.

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However, some Virginia legislators expressed skepticism, citing fears of cannibalization. They questioned whether online casinos might draw customers away from brick-and-mortar venues.

Industry experts countered that New Jersey and Michigan showed the opposite effect. Rebuck explained: “The evidence demonstrates iGaming expands the player base rather than cannibalizes physical casinos.”

Supporters argued that Virginia’s land-based operators could benefit from cross-promotion, loyalty programs, and expanded reach to players in rural areas.

The subcommittee must make recommendations by November 30, 2025. Officials expect the commission’s creation will precede legalization of online casinos. The Virginia lawmakers will review feasibility and revise HB 2171 before the 2026 legislative session.

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Gambling in the USA

DraftKings Introduces Credit Card Deposit Ban for US Customers

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DraftKings has introduced credit card deposit ban for US customers. This decision aligns them with other major gambling operators, such as Fanatics Betting & Gaming, Betr, and Sporttrade, which have already banned credit card funding for wagering accounts.

It also comes on the heels of another major announcement by DraftKings. Starting September 1, DraftKings will charge a 50-cent fee for every mobile and online bet placed in Illinois using its Sportsbook platform. This change follows a similar move by FanDuel.

DraftKings CEO, Jason Robins, expressed his disappointment with Illinois policymakers for significantly raising the tax rate. He is worried that this could hurt the legal sports betting industry, while the illegal market continues to operate without paying taxes or providing any consumer protections.

DraftKings has informed its users that any saved credit card information will be disabled.

Moving forward, players will need to utilize alternative payment methods, including:

• Debit Cards

• ACH and wire transfers

• PayPal, Venmo

• Apple Pay

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• Gift Cards

Bettors can also use cash at physical locations to fund their accounts.

DraftKings describes this step as a “strategic business decision” aimed at shielding customers from the high interest rates and cash advance fees usually associated with credit card deposits in gambling. Unlike regulatory demands, this decision was internally driven but coincides with growing scrutiny from regulators.

DraftKings has decided to stop accepting credit cards for deposits in the US due to worries about customer safety and more scrutiny from regulators. Recently, the company faced a significant fine in Massachusetts, where it is based. The Massachusetts Gaming Commission fined DraftKings $450,000 for allowing credit card deposits, which goes against state laws.

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