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Sports Betting Continues to Gain Traction in the United States

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PlayNY: New York could be $20 billion sports betting market, but may not reach potential

 

After the landmark Supreme Court ruling in 2018, in which the court struck down the ban on sports betting, any state got the option to pursue legalization. The state of New Jersey was the first to make sports betting legal. Yet, the legal infrastructure of sports betting still remains complex. For example, in each state, online betting companies such as FanDuel and DraftKings have to apply for supplier licenses, and the licensing process varies depending on the state. In addition, after the licensed is granted, these companies must reach agreements with existing land-based casinos for what is called “skins,” which is what eventually gives them the right to operate in each state. For instance, DraftKings made a deal with Caesars last year, which gave it market access in 12 states outside New Jersey, and in the meantime, Caesars received DraftKings equity for the skins access. FansUnite Entertainment Inc. (CSE: FANS), DraftKings Inc. (NASDAQ: DKNG), GAN Limited (NASDAQ: GAN), MGM Resorts International (NYSE: MGM), Caesars Entertainment Corporation (NASDAQ: CZR)

The complexity of the legal infrastructure means that states may have different companies competing for market share. According to an article by CNBC, Richard Carter, CEO of SBTech, explained that “there is no doubt both FanDuel and DraftKings will have large market share
 But different states will have different market leaders. You need market access. Some states will be lottery-only. Some states will be limited to tribal gaming. Some states won’t allow FanDuel and DraftKings to use their brands. They’ll have to use the casino brand. There are lots of nuances. You have to take each state as it comes.” More recently, sports betting also started to get traction in California, an enormous potential market for this segment. MarketWatch reported that two California lawmakers recently pitched legalized sports betting as a way to help increase the state budget, which is currently devastated by the economic shutdown designed to slow the spread of the pandemic. California trails 22 other states that have already authorized sports betting.

FansUnite Entertainment Inc. (CSE: FANS) just announced breaking news that it is, “pleased to introduce Mr. Saxon Shadforth, a leading gaming executive.

Mr. Shadforth has over 25 years of global leadership expertise and 15 years experience as an online gambling executive. With a background in commercialization, consumer hardware/software, enterprise software, product strategy and delivery; Saxon has extensive experience managing complex ecosystems required to operate and scale gaming brands in many categories and jurisdictions. Saxon has previously worked at Activo in Montevideo, Uruguay, Yew Tree Services in Manila, Philippines, Riplife Gaming Technologies in Barcelona, Spain and Gateway Inc. in both Sydney, Australia and Denver, Colorado.

‘We are extremely excited to have an individual of Saxon’s caliber join our board of directors,’ said Darius Eghdami, Chairman and CEO of FansUnite Entertainment. ‘As a fast growing company in the gaming sector, Mr. Shadforth is perfectly equipped to provide us with oversight in a number of growth areas. Having spent the majority of his career working abroad in North America, Europe, Asia and Latin America, Saxon will be integral in expanding our footprint and entering international gaming jurisdictions by leveraging his established network.’

As a veteran in the gaming industry, he has structured and advised on the launch of new platforms across the globe, numerous M&A transactions in both start ups and later stage growth companies, and has managed teams of over 300 people in the gaming industry.

‘I am thrilled to be joining such a great team where I will be able to apply my skill set in helping FansUnite build and grow their platform,” said Saxon. “As a online gambling company, FansUnite is uniquely positioned to consolidate gaming assets globally with a key focus on M&A integration and brand awareness. I am eager to provide my insights and I look forward to assisting FansUnite become a leader in the fast growing gaming market.’

FansUnite expects Mr. Shadforth to add expertise in various areas including: product development, acquisition strategy, and commercialization of brands into global markets to support its continued growth as an emerging gaming leader.”

SOURCE FinancialBuzz.com

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FINAL NINE PLAYERS SET FOR THE 2025 WORLD SERIES OF POKERÂź MAIN EVENTÂź FINAL TABLE

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Out of 9,735 total entrants in the third-largest World Series of Poker (WSOP) Main Event in history, only nine players remain as the lineup is set for the 56th annual WSOP Main Event final table.

John Wasnock, Michael Mizrachi, Braxton Dunaway, Kenny Hallaert, Leonor Margets, Luka Bojovic, Adam Hendrix, Daehyung Lee, and Jarod Minghini will return to the Horseshoe and Paris in Las Vegas, Nevada, on Tuesday, July 15, with each player eyeing not only the $10 million top prize and WSOP Main Event bracelet, but a chance at forever solidifying their names in poker history. Duking it out over eight days of poker action, the resilience of the nine remaining players has earned them a seat at poker’s most prestigious final table.

Action at the 2025 WSOP Main Event final table will begin at 1:30 P.M. local time and will play down to four players, with the final day of the tournament set for Wednesday, July 16, starting at 1:30 P.M. local time. 

A historic WSOP Main Event final table that includes not only a four-time Poker Players Championship winner but also the first woman since 1995, poker fans around the world look forward to a highly anticipated conclusion to the 2025 WSOP Main Event.

2025 WSOP Main Event Final Table Chip Counts:

John Wasnock (North Bend, Washington, United States) – 108,100,000 Chips

John Wasnock, 50, is a poker player from North Bend, Washington who will be proudly representing the Evergreen state at the WSOP Main Event final table as the overall chip leader. Owning over $143 thousand in live tournament earnings, Wasnock’s largest career cash of $56,330 has been far surpassed with his performance in the Main Event.

Michael Mizrachi (Las Vegas, Nevada, United States) – 93,000,000 Chips

Michael Mizrachi, 44, is the most decorated poker player to reach the 2025 WSOP Main Event final table. A seven-time WSOP bracelet winner, Mizrachi has already had a historic summer, winning his record fourth Poker Players Championship title. On the cusp of adding a WSOP Main Event title to his already long list of poker accolades, taking down the 2025 WSOP Main Event would add $10 million to Mizrachi’s already impressive live tournament earnings total of just over $19 million.

Braxton Dunaway (Midland, Texas, United States) – 91,900,000 Chips

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Braxton Dunaway, 42, lives in Midland, Texas, and is a family man who makes his living in the oil and gas industry. Already having a WSOP bracelet to his name, Dunaway won the $1,500 Monster Stack for $1,162,681 during the 2023 WSOP. Dunaway’s $1.5 million in live tournament earnings could increase tenfold by winning the $10 million top prize in the 2025 WSOP Main Event.

Kenny Hallaert (London, England, United Kingdom) – 80,500,000 Chips

Kenny Hallaert, 43, is a Belgian professional poker player residing in London, England. No stranger to success on the felt, Hallaert has racked up a number of poker tournament titles across poker tournament series around Europe, contributing to $5.9 million in live tournament winnings across his career. Still seeking his first career WSOP bracelet, Hallaert’s first title won in the United States could be the biggest one of them all.

Leonor Margets (Barcelona, Spain) – 53,400,000 Chips

Leonor “Leo” Margets, 41, is not only the last woman standing in the 2025 WSOP Main Event but is also the first woman to reach the WSOP Main Event final table since 1995. Hailing from Barcelona, Spain, Margets is not new to success at the WSOP, having won her lone bracelet in the $1,500 No-Limit Hold’em Closer for $376,850 in 2021. With over $2 million in live tournament winnings, Margets looks to not only add $10 million to her career total but also become the first woman to ever win the WSOP Main Event.

Luka Bojovic (Vienna, Austria) – 51,000,000 Chips

Luka Bojovic, 37, is a Serbian doctor and poker player residing in Vienna, Austria. A member of the Pokercode collective, Bojovic’s largest career score of $134,617 came from his eighth place finish in the 2024 WSOP Europe Main Event, contributing to his live tournament career winnings total of over $700 thousand. Winning his lone piece of WSOP hardware by taking down the Monster Stack event at the 2024 WSOP International Circuit series in Marrakech ($45,600), Bojovic is in contention to win the most prestigious poker trophy of them all

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Quick Custom Intelligence Unveils One Big Beautiful Bill ‑Optimized Win/Loss Toolkit – A Simple Path Through the 90% Cap

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Quick Custom Intelligence Unveils One Big Beautiful Bill ‑Optimized Win/Loss Toolkit – A Simple Path Through the 90% Cap

 

Quick Custom Intelligence (QCI) announced the release of its trade secret protected BBB‑Optimized Win/Loss toolkit, a new package available across QCI Host¼, QCI Marketing¼, and QCI Playerℱ that helps casinos and their patrons navigate the upcoming 90% wagering‑loss cap contained in the “One Big Beautiful Bill Act.” (BBB).

Built With Gaming‑Tax Experts

Working hand‑in‑hand with nationally recognized gaming advisors, QCI has engineered a turnkey toolkit that will ensure that more than 99% of players experience zero to minimal tax impact—from penny‑slot enthusiasts to high‑limit table gamers.

“Our customers asked how to keep their players engaged once the BBB Act takes effect. We worked through the long weekend and delivered a compliance‑ready answer that puts actionable information in both the patron’s and the accountant’s hands—while keeping our intellectual property secure,” said Andrew Cardno, Co‑Founder & CTO of QCI.

Key Features

Proprietary Tax‑Optimization Engine – Automatically aggregates each player’s activity using QCI’s confidential methodology, delivering precise win/loss figures compliant with BBB requirements.

90%‑Cap Readiness Dashboard – Highlights any year‑to‑date gain total that exceeds 90% of losses, flagging potential “phantom‑income” exposure before tax filing day, and suggests remedial actions that are available to the player.

One‑Click CPA Export – Generates a clean PDF/CSV packet suitable for Form 1040 attachment—eliminating the need for manual spreadsheets.

Rapid Roll‑Out – Delivered as a standard content pack; no schema changes, no downtime.

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Availability

The BBB‑Optimized Win/Loss toolkit is shipping today to all cloud and on‑prem customers running AGI55 or later. Operators can enable it in hours via routine configuration.

Quick Custom Intelligence (QCI) builds award‑winning operational, marketing, and player‑development tooling for the global gaming industry.

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BOYD GAMING TO SELL FANDUEL INTEREST FOR $1.755 BILLION

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BOYD GAMING TO SELL FANDUEL INTEREST FOR $1.755 BILLION

 

All-Cash Transaction Unlocks Significant, Unrealized Value for Boyd Shareholders
Boyd, FanDuel Extend Market-Access Agreements through 2038

Boyd Gaming Corporation announced it has entered into a definitive agreement to sell the Company’s 5% equity interest in FanDuel Group to Flutter Entertainment plc for cash consideration of $1.755 billion.

The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals. The Company intends to use net proceeds to reduce debt.

Keith Smith, President and Chief Executive Officer of Boyd, said: “This transaction unlocks the tremendous unrealized value that our investment in FanDuel has created for our Company. As a result, we are in a significantly stronger financial position to continue executing our strategy of investing in our properties, pursuing growth opportunities, returning capital to our shareholders, and maintaining a strong balance sheet.”

In addition to purchasing Boyd’s equity interest in FanDuel, Boyd and FanDuel will terminate certain existing market-access agreements between the parties and enter into new agreements to provide, among other things, for an extended term through 2038. The agreements will also provide Boyd with a fixed fee per state from FanDuel’s mobile sports-betting operations in Iowa, Indiana, Kansas, Louisiana and Pennsylvania, as well as FanDuel’s online casino operations in Pennsylvania, upon the close of this transaction.  FanDuel will also continue to operate Boyd’s retail sportsbooks outside of Nevada through mid-2026, after which time Boyd will assume responsibility for these operations.

Under terms of the revised market-access agreements with FanDuel, the Company now expects its Online segment will generate $50 million to $55 million in operating income and Adjusted EBITDAR for the full year 2025, and approximately $30 million in 2026.

Smith added: “The partnership between Boyd and FanDuel has been a remarkable success for both companies.  FanDuel has emerged as the nation’s clear leader in online sports-betting, while Boyd has been able to leverage this partnership to profitably participate in the rapid growth of sports betting across the country.  It has been a privilege to work with the Flutter and FanDuel teams, and we look forward to supporting FanDuel’s continued growth and success through our market-access agreements across the country.”

Moelis & Company LLC served as exclusive financial advisor to Boyd Gaming on the transaction.  Morrison & Foerster LLP served as legal advisor to Boyd Gaming on the transaction, with Brownstein Hyatt Farber Schreck, LLP advising on the commercial agreements.

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