April 2025 – Page 2 – FairOdds Network

April 11, 2025

State of the Union: Kalshi wins injunction in Nevada; stocks receive Trump bump, more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

Kalshi scores win with Nevada injunction

For a prediction market that has been besieged by state cease-and-desist orders over the last month, Kalshi notched a slight victory this week.

On Tuesday (8 April), US district court judge Andrew Gordon granted Kalshi a preliminary injunction against the Nevada Gaming Control Board (NGCB). The injunction prevents the NGCB from imposing the order against Kalshi, contending that the site illegally offered sports wagering across the state.

As with other prediction markets, Kalshi is awaiting a closely watched roundtable from the US Commodity Futures Trading Commission (CFTC) for clarity on whether sports event contracts mimic sports gambling.

First takes on the order granting Kalshi's motion for a preliminary injunction in Nevada: quality advocacy wins the day..

April 11, 2025

Kansas sports betting market shaken up by budget provision approval

Kansas sports betting licence extensions have been thrown into question after a new budget provision was voted through by the state’s house of representatives today (11 April).

Lawmakers approved a small but significant last-minute amendment to the state budget SB 125 on Friday, the last day of Kansas’ legislative session.

The amendment says that for the 2025 and 2026 fiscal years, “no expenditures shall be made by the above agency from monies appropriated from the state general fund or from any special revenue fund… to negotiate or enter into any contract or extension or renewal of an existing contract for the management of sports wagering with any lottery gaming facility manager.”

This indicates that the market will not be immediately impacted, but its long-term outlook is uncertain. Jeremy Kudon, lobbyist for the Sports Betting Alliance (SBA), clarified on X that “most contracts with the lottery will run well into 2027”. The SBA represents FanDuel, DraftKings, BetMGM and Fanatic..

April 11, 2025

New York online sports betting handle tops $23.94 billion in 2024-25

Consumers in New York spent a total of $23.94 billion (£18.32 billion/€21.07 billion) betting on sports during the 2024-25 fiscal year, a new record for the Empire State.

The total from April 2024 to March 2025, published by the New York State Gaming Commission, surpasses the $19.64 billion wagered in 2023-24 by 21.9%. It is also the highest annual sports betting handle ever posted by a US state.

In terms of gross gaming revenue, this amounted to $2.14 billion for the fiscal year. This is another record for New York and beat the previous year by 21.6%.

This resulted in an annual hold of 8.94%, slightly lower than 8.98% in 2023-24.

FanDuel betting handle nears $10 billion

Breaking down the market, Flutter Entertainment-owned FanDuel continues to lead the way by some margin. FanDuel processed a record $9.2 billion in bets and reported revenue of $969.8 million, leaving a 10.54% hold.

As has been the case for some time, DraftKings remains the closest challenger. Handle hit $8.6 bill..

April 11, 2025

Gambling Commission outlines rates per licence for statutory levy

The UK Gambling Commission has clarified the rates each licensee will have to pay for the new statutory levy, which the government hopes will raise £100 million (€115.3 million/$130.7 million) for harm prevention against gambling.

The UK statutory levy came into effect on 6 April, having been included in the previous government’s Gambling Act white paper in 2023 with the belief operators weren’t paying their fair share to support gambling harms under the voluntary levy.

Gambling minister Baroness Twycross told the Betting & Gaming Council’s (BGC) AGM in February the new UK statutory levy was a “huge step forward” for the gambling sector, with the hope it will reduce problem gambling.

On Monday (7 April), the Gambling Commission released an update on the levy including the rates each licence holder will be required to pay, with online gambling generally set to face the highest rate.

What are the statutory rates?

The statutory levy rates are as follows:

Online gambling licence typ..

April 11, 2025

Swedish government loosens grip on ATG ownership

The Swedish government is relinquishing control of racing monopoly ATG as part of a new agreement which calls for its board to have fully independent members.

The Swedish government has made the agreement with Svensk Travsport and Svensk Galopp, both of which share ownership of ATG. The state announced on 10 April that the agreement reduces government control over ATG.

ATG was first founded in 1974 to oversee and correct financial problems faced by equestrian sports at the time. Svensk Travsport and Svensk Galopp were in financial difficulties and the state decided it would be best to form a joint venture for horse betting. Any profits were intended for trotting and galloping sports and the Swedish horse industry national foundation.

The new agreement sees the Swedish government give up part of its controlling powers over ATG. As a result, it will no longer nominate ATG board members. Previously it had the power to appoint six of the 11 board members.

Moving forward, the board’s n..

April 10, 2025

Compliance teams weigh competing factors in the wake of historic RWLV settlement

Burdensome costs and AML compliance come into conflict when troubled casinos attempt to construct remediation plans.

For months, a potential settlement between Nevada and Resorts World Las Vegas (RWLV) dominated the conversation among compliance officials at networking events on the conference circuit.

A litany of civil complaints against RWLV and several other Strip properties have given regulators agita, with one Nevada commissioner warning that the financial improprieties would serve as a wakeup call for the industry as a whole.

Given the severity of the allegations, one option for state regulators involved placing RWLV into conservatorship, a strict penalty that would have ranked among the harshest available. Alternatively, a $100 million fine ($£77 million/€89 million) in combination with a licence suspension could have been just as punitive, or even worse.

In the end, the Nevada Gaming Commission (NGC) approved a $10.5 million fine against RWLV. It is the second largest fine..

April 10, 2025

Kalshi stays live with sports markets in Nevada after winning injunction

It is game on for Kalshi's ability in Nevada and across the US to take bets on contests such as The Masters.

US District Court Judge Anthony Gordon provided a detailed ruling that expanded on his decision of Tuesday night (8 April) to grant Kalshi’s motion for a preliminary injunction against the Nevada Gaming Control Board regarding the offering and trading of sporting-event contracts.

“Kalshi has shown a likelihood of success on the merits,” wrote Judge Gordon in the 17-page ruling. “Conversely, the defendants have not shown a likelihood of success on their countermotion for injunctive relief, so I deny their motion.”

It was another legal victory for Kalshi, following a key win in the US Court of Appeals last October over the Commodity Futures Trading Commission (CFTC). That ruling allowed it to offer election contracts in the run-up to the 2024 US presidential election. The CFTC has appealed that decision to the DC Circuit Court of Appeals and a verdict could have an impact ..

April 10, 2025

Techno Offshore faces €1.2 million Dutch fine over illegal activity

Dutch regulator Kansspelautoriteit (KSA) has issued a €1.2 million (£1 million/$1.3 million) fine to Techno Offshore, the company behind the Nolimitbet.com and Simplecasino.com brands, for illegal activities in the country.

KSA said Techno Offshore was illegally offering games of chance to Dutch players through the websites without the relevant licence. Operators can only offer online gambling in the Netherlands after securing approval from the regulator.

Detailing the charge yesterday (9 April), KSA said Techno Offshore did not take the sufficient measures to block Dutch players. The regulator also flagged the operator for not checking players’ ages upon registering and for running prohibited features including autoplay.

Setting out the charge in full, KSA said it first investigated Techno Offshore in April last year. It established the operator was based in the British Virgin Islands and hold a licence from the Kahnawake Gaming Commission for the two websites.

At the time, KSA sa..

April 9, 2025

NCAA intensifies responsible gambling campaign as college hoops scandals linger

US authorities are still conducting a sweeping probe into an illicit betting ring with alleged connections to pro and college basketball.

The NCAA men’s basketball tournament ended on Monday night (7 April) with a scintillating comeback by the University of Florida, which erased a 12-point second-half deficit to edge Houston in the national title game.

In the past, the Cougars’ defeat may have provided famed bettor Jim McIngvale with nagging indigestion, due to the Houston furniture store owner’s affinity for placing seven-figure bets backing the Cougars. Last year, the entrepreneur stood to make $15 million (£11.7 million/€13.6 million) if Kelvin Sampson’s team cut down the nets. In the run-up to this year’s Final Four, though, no large bet from McIngvale was publicised.

As part of an initiative to promote responsible gambling, the NCAA has urged bettors to gamble within their means. Throughout March Madness, the NCAA promoted its “Draw the Line” educational campaign about gambling..

April 9, 2025

Hawaii senate sends sports betting bill back to house for potential passage

Bill must still clear house and get Governor Josh Green’s signature to become law.

Hawaii is poised to become the first US state in 2025 to legalise digital sports betting after its senate approved an amended version of HB 1308, 15-10 on Tuesday (8 April). Of the 15 yes votes, four were “with reservations”.

HB 1308 was transmitted to and received by the house on Tuesday. Should the house approve the bill, it will be sent to Governor Josh Green for approval. Green, who has been pushing for funding for a new Aloha Stadium District, has not been clear about whether he will sign the bill.

HB 1308’s march through the state legislature has been confounding. Multiple state agencies, a native Hawaiian group and others repeatedly spoke in opposition. Lobbyists from BetMGM and DraftKings as well as a local ironworkers’ union testified in favour. And at every step, lawmakers voiced concern and many voted with reservations.

Go-live date not mandated

The bill becomes effective on 1 July but do..

April 8, 2025

Maryland fifth state to send cease-and-desist letters to Robinhood, Kalshi and Crypto.com

The state joins Nevada, New Jersey, Ohio and Illinois in seeking to ban sports prediction markets.

Maryland has become the fifth state to send cease-and-desist letters to Kalshi, Robinhood and Crypto.com as the Maryland Lottery and Gaming Control Commission has directed the companies to stop offering sporting event contracts in the state.

Maryland joins Illinois, Ohio, Nevada and New Jersey in seeking to ban the companies from offering what they believe amounts to de facto sports betting.

“We view this as a legal matter and a consumer protection matter and there is also a fiscal interest for the state,” said Maryland Lottery and Gaming director John Martin in a press release. “Each of Maryland’s legal sports wagering operators completed a rigorous licensing process and is subject to extensive regulations that include responsible gaming requirements. The commodity traders aren’t bound by those same guardrails. They’re conducting sports wagering without a licence and, in doing so, the..

April 8, 2025

North Carolina sports betting handle hits record $685 million in March

Monthly sports betting handle in North Carolina reached a record $685 million (£536.2 million/€624.6 million) in March, although revenue fell for the second consecutive month.

Total spend surpassed the prior record of $659.3 million, set in March last year, by 3.9%. Incidentally, March 2024 was the first month of legal online sports betting in North Carolina.

The sportsbooks’ handle also beat the $526 million bet in February this year by 30.2%, the North Carolina State Lottery Commission reports.

In total, $667.1 million of the amount bet in March was listed as “paid wagering revenue”. The other $17.9 million was reported as “promotional” revenue.

Betting revenue falls again in March

The commission noted $3.2 million in voided and cancelled bets, while players won $643.7 million back from betting.

As such, this left $38.1 million in gross wagering revenue. Not only is this 42.7% less than March 2024 but also 31.6% behind February, making it North Carolina’s third-lowest monthly a..

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