Betting News – Page 2 – FairOdds Network

April 14, 2025

Weekend Report: First US approval for Beter, STS new sportsbook chief, woman wins $15 million judgment against casino

Welcome to the Weekend Report, where iGB looks at the news that you may have missed across the last few days. This week: Beter gains first US approval, STS names new sportsbook chief and a woman wins a $15 million judgment against a Las Vegas Strip casino.

Beter lands first US approval in New Jersey

Sports betting odds, data and content provider Beter has secured its first approval in the US.

Vendor registration from the New Jersey Department of Gaming Enforcement enables Beter to work with licensed operators in the state. This includes delivering its real-time data and live streams.

The first approved product is its flagship Setka Cup table tennis tournaments. This is already live in New Jersey from Bet365.

Beter arranges over 11,000 Setka Cup matches per month, offering more than 30 betting markets per event. In total, it organises over 46,000 fast-betting events monthly across esports and sports disciplines.

“This is a milestone moment for the Beter team,” CEO Gal Ehrlich said..

April 14, 2025

Michigan regulator probes unlicensed sports predictions market

The Michigan Gaming Control Board (MGCB) has launched an investigation into unlicensed sports prediction markets operating within the Great Lakes State.

Announced on Friday (11 April), the MGCB said this activity has raised “significant” concerns about consumer protections in Michigan. The regulator classes predictions as a form of sports betting.

Preliminary investigations by the MGCB have found unlicensed platforms offer financial products that allow users to trade their predictions on the outcomes of sports events. By sidestepping state-mandated regulatory protections, the regulator said, this poses a serious risk to players.

The MGCB added that this may create confusion among consumers. Its concerns primarily relate to “blurring the line” between sports betting as entertainment and as a financial trading vehicle.

The regulator’s announcement did not specify the companies under scrutiny, but counterparts in five other states – Nevada, New Jersey, Ohio, Illinois and Maryland – ha..

April 14, 2025

ITIA suspends tennis officials over betting corruption

The International Tennis Integrity Agency (ITIA) has issued suspensions to three officials after they were found guilty of betting-related corruption.

Luis Rodriguez, Antonio Sosa and Wellingthon Lopez have all been charged over corruption. Each tennis official denied the charges relating to breaches between 2018 and 2021.

According to the ITIA, the officials entered false data into match scoring devices to facilitate betting. The ITIA deemed their actions as breaches of the Tennis Anti-Corruption Programme (TACP).

Rodriguez issued lifetime ban from tennis

In the case of Rodriguez, he denied charges over six matches in the Dominican Republic between 2018 and 2020. However, a hearing in December 2024 found him guilty of the breaches.

Independent anti-corruption hearing officer (AHO) Richard Young issued a lifetime ban and a $15,000 (£11,386/€13,184) fine. This came into effect on 21 January this year.

“As a chair umpire, he was in an important position of trust charged with uphold..

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..