Category: Betting

Flutter Entertainment, the powerhouse behind FanDuel, just dropped a bombshell earnings report that has Wall Street buzzing. The company revealed full-year 2025 revenue of $16.4 billion, a solid 17% jump from last year, but it fell short of the $16.7 billion forecast. Worse yet, shares plunged over 14% as fears mount that rising prediction markets are chipping away at the core sports betting business. Investors are left wondering if this signals a seismic shift in how Americans wager on games.

Flutter kicked off the year with high hopes after strong growth in prior periods. The full-year revenue hit $16.4 billion, marking that 17% increase year over year. This figure came from robust activity across its global operations, with the U.S. segment leading the charge through FanDuel’s dominance in sports betting and online gaming.

Adjusted EBITDA climbed 21% to $2.8 billion, showing healthy profit margins despite the revenue shortfall. In the fourth quarter alone, group revenue surged 25% to help push the annual total. However, the miss against earlier guidance of $17.3 billion set off alarms. Analysts had adjusted expectations down to $16.7 billion by late 2025, but even that proved too optimistic.

The company pointed to softer-than-expected sports betting handle in the U.S. as a key drag. Handle, which measures total bets placed, grew just 3% in Q4 for FanDuel’s sports division. This slowdown contrasted with revenue up 35% in that segment, thanks to better margins hitting 8.9% on NFL bets.

The Growing Threat of Prediction Markets

Prediction markets are shaking up the gambling world in ways few saw coming. Platforms like Kalshi and Polymarket let users bet on real-world events, from election outcomes to sports results, but they operate more like financial exchanges than traditional sportsbooks. These sites are pulling bets away from giants like FanDuel, with activity surging during big events like the NFL playoffs and Super Bowl.

Kalshi, a federally regulated exchange, saw massive spikes in trading volume last season. Polymarket, popular for its crypto ties, reported hundreds of millions in bets on sports-related contracts. During the Super Bowl in early 2026, these platforms handled bets that rivaled traditional apps, drawing users with lower fees and broader options.

Traditional sportsbooks face stiff competition because prediction markets offer yes/no contracts on outcomes, often with better odds driven by crowd wisdom. Gambling stocks, including Flutter, have taken hits as investors fret over lost market share. DraftKings, a close rival, saw its shares drop 39% this year amid similar concerns.

Flutter’s CEO downplayed the immediate threat during the earnings call. Still, the company plans to invest $200 million to $300 million in its own prediction market features to fight back.

FanDuel’s Role in the US Sports Betting Boom

FanDuel remains the top dog in the U.S. sports betting arena, holding about 40% market share in a sector worth roughly $14 billion annually. Since launching in 2018, it has grown alongside the legalization wave across states, now available in over 20 markets. The brand’s app boasts user-friendly features that keep bettors coming back for live odds and promotions.

In 2025, FanDuel drove most of Flutter’s U.S. growth, with online gaming revenue soaring. Sports betting alone contributed billions, fueled by popular leagues like the NFL and NBA. Yet, the recent earnings highlight cracks: Sustained bettor losses and mistimed promotions led to slower engagement.

To illustrate the market dynamics, consider this table of key U.S. sports betting metrics for 2025:

Metric	2025 Value	Year-over-Year Change
Total Market Size	$14 billion	+12%
FanDuel Market Share	40%	Steady
Average Monthly Users	5 million	+8%
NFL Betting Volume	$4.5 billion	+15%

This data, drawn from industry trackers like the American Gaming Association in late 2025, shows steady expansion but hints at saturation.

Prediction markets aren’t yet a huge cannibalizer for FanDuel, per company statements. But with platforms like Kalshi focusing on college basketball and NFL, the overlap is growing fast.

Investor Reactions and 2026 Outlook

Wall Street reacted swiftly to the news, with Flutter’s shares tumbling 14.5% in after-hours trading on February 27, 2026. This drop erased billions in market value, reflecting deep worries about the future. Analysts cut price targets, citing the revenue miss and cautious guidance as red flags.

For 2026, Flutter forecasts revenue of $18.4 billion, a modest 12% rise from 2025. That’s below the consensus estimate of $19.3 billion from Bloomberg surveys. The company blames potential headwinds from prediction markets and regulatory shifts, but highlights strengths in international markets like the UK and Australia.

• Key growth drivers for next year include expanding iGaming in new states.
• Investments in tech to integrate prediction-style betting could help regain momentum.
• Share buybacks totaled $1 billion in 2025, signaling confidence in long-term value.

EPS for Q4 came in at $1.74, missing the $1.91 forecast by nearly 9%. Profit margins squeezed due to higher marketing spends to combat competition.

As the U.S. market matures, Flutter must adapt quickly. The rise of these new platforms could reshape how fans engage with sports, forcing traditional players to innovate or risk fading.

Flutter’s story is one of triumph turned tension, as the thrill of sports betting faces fresh rivals. The revenue miss spotlights a pivotal moment for the industry, where innovation could spell survival. This shift affects everyday bettors too, potentially offering more choices but also raising questions about responsible gaming in a crowded field.

Puerto Rico just got a game-changer in sports wagering. DraftKings launched its online sportsbook on February 23, 2026, bringing mobile betting to residents after a retail debut last fall. This move opens up exciting options for locals, but with strict rules in place. What does it mean for the island’s betting scene?

DraftKings kicked off its online sports betting in Puerto Rico this week, marking a big step for the U.S. territory. The Boston-based company started offering the service to eligible users on Monday. This follows the opening of a physical betting spot at Foxwoods El San Juan Casino in November 2025.

Residents can now place bets from their phones, but they must first sign up in person at the casino. This setup ensures only Puerto Ricans get online access. It builds on the island’s growing love for sports like baseball and basketball.

The launch taps into a hot trend. Across the U.S., about 28 percent of adults have bet on sports in the past year, according to a recent Deseret News poll from February 2026. Puerto Rico’s version promises to pull in local fans who follow MLB and NBA games closely.

The Key Role of Foxwoods Partnership

Foxwoods El San Juan Casino plays a central part in this rollout. The iconic San Juan spot teamed up with DraftKings to host the retail sportsbook first. Now, it serves as the hub for online registrations too.

This partnership blends luxury gaming with modern tech. Foxwoods, known for its vibrant atmosphere, draws crowds from across the island. DraftKings brings its top-notch app to make betting seamless.

Visitors from outside Puerto Rico miss out on the mobile side. They can still bet in person at the casino, keeping things fair under local rules. This rule helps control access and follows Puerto Rico’s gaming laws set in 2019.

The tie-up shows how casinos and online giants work together. It boosts both spots while expanding reach.

Betting Features That Excite Users

DraftKings packs its platform with tools to keep bettors engaged. Users get in-game wagering, letting them bet as games unfold. Same-game parlays mix multiple outcomes from one match for bigger wins.

Odds boosts add extra value on select bets. Fans can wager on major leagues like NFL, MLB, and NBA. Soccer and other sports round out the options.

One quick note. All bets must follow responsible gaming guidelines.

Here’s a look at some standout features:

• In-game betting for real-time action.
• Custom parlays to build unique wagers.
• Boosted odds for better payouts.
• Live stats to inform choices.

These perks make the app user-friendly. New bettors find it easy to jump in, while pros chase advanced plays.

Growth Sparks Economic Hopes

This launch could lift Puerto Rico’s economy. The island’s gaming sector pulled in over $362 million in net revenue from 2023 to 2024, per government data. Sports betting adds to that pot, creating jobs and tax income.

DraftKings itself saw huge gains last year. The company reported $6.05 billion in revenue for 2025, up sharply from before. Its sports betting arm drove much of that growth.

Experts see potential. The U.S. sports betting market might hit $160 billion in wagers this year, based on 2026 projections from industry reports. Puerto Rico could grab a slice, drawing more tourism and local spending.

Regulations keep things in check. The Puerto Rico Gaming Commission oversees operations since Law 81 in 2019. No big tax hikes on winnings for players, but operators pay fees that fund public needs.

One concern lingers. Like anywhere, betting carries risks. Groups push for awareness to protect users.

League	Popular Bet Types	Why It Matters in PR
MLB	Home run props, game totals	Baseball fever runs high on the island.
NFL	Point spreads, player stats	Football draws big crowds during season.
NBA	Over/under scores, parlays	Local fans cheer for stars like those in Miami Heat games.

This table highlights how leagues fit local tastes.

As DraftKings settles in, it eyes more expansions. The company now operates in 26 states plus D.C. and Puerto Rico. Future moves might include more features or partnerships.

Puerto Ricans wake up to a new way to enjoy their favorite teams, blending tech with tradition in a thrilling mix. This step forward promises fun and growth, but it reminds us to bet smart.

Malaysia is gearing up to fight back against the rising tide of illegal gambling, especially the online kind that preys on vulnerable people. With a new bill in the works, the government aims to shield families and youth from its harms. Deputy Prime Minister Datuk Seri Fadillah Yusof shared this update, sparking hope for stronger protections. But what changes are coming, and how will they tackle the digital threats?

The federal government in Malaysia is drafting a key law to stamp out illegal gambling activities across the nation. This push comes as online betting sites explode in popularity, drawing in users through easy access on phones and computers. Deputy Prime Minister Datuk Seri Fadillah Yusof announced that the bill is under review and could hit Parliament’s floor soon. He stressed the need to act fast to protect social well-being.

Fadillah made these comments during a recent session, highlighting how unchecked gambling erodes community ties. The proposal targets both street-level operations and sneaky online platforms. Officials plan to table it in the Dewan Rakyat, the lower house, once it’s ready. This move signals a serious commitment from the top levels of power.

Right now, the draft lacks an official name. Lawmakers are weighing options, like making it a fresh act or folding it into older rules. The goal stays clear: give police and agencies more tools to shut down these operations.

Why Youth Face the Biggest Risks from Gambling

Illegal gambling hits hard on Malaysia’s young people, pulling them into cycles of debt and despair. Studies show that a shocking number of teens have tried their luck with bets. For instance, a 2016 survey of over 2,000 adolescents found that 30 percent had gambled at some point. This trend worries experts, as it can lead to addiction and long-term mental health struggles among the youth.

Parents and schools often see the fallout first. Kids skip studies or get into fights over lost money. A more recent look in 2015 at teens in Negeri Sembilan revealed 3.6 percent as problem gamblers. These numbers come from local health reports that track such behaviors closely.

The online world makes it worse. Apps and sites pop up with flashy ads, targeting bored students. Without quick action, this could grow into a national crisis. The government’s new law aims to block these paths early.

One simple fact stands out here. Many young gamblers start small but end up hooked fast.

Updating Laws to Match Online Gambling Threats

Malaysia’s rules on gambling date back to 1953 with the Common Gaming Houses Act. That old law defines betting as games of chance for cash or prizes. But in today’s digital age, it falls short against web-based scams. The proposed bill seeks to modernize these rules, possibly through amendments or a new standalone measure.

Penalties under the current act pack a punch. As of 2020 updates, fines range from RM5,000 to RM100,000, about US$1,300 to US$25,560. Offenders also face at least six months in jail. Yet, enforcement struggles with borderless online sites.

To fix this, police want clearer powers. They propose adding to cybercrime laws for better tracking. Recent efforts show progress. The Malaysia Communications and Multimedia Commission blocked over 6,381 gambling websites last year alone. This helps, but more is needed.

Here’s a quick look at how penalties stack up:

Violation Type	Fine Range (RM)	Jail Time
Gaming in Common House	5,000 – 100,000	Minimum 6 months
Operating Illegal Site	Up to 100,000	Up to 3 years (proposed)
Promoting Online Bets	Varies by case	Fine + jail

These updates could make a real difference in daily enforcement.

Authorities are also eyeing local councils for extra support. This team effort would cover more ground.

Boosting Enforcement Against Digital Gamblers

Police in Malaysia are ramping up their game against illegal online gambling. Gone are the days of just raiding physical spots. Now, they focus on blocking entire systems and websites. In 2025, officers made 4,234 requests to shut down suspect sites, a big jump from prior years.

This shift comes amid a surge in cases. Last year, cops opened 28 probes into social media stars pushing betting links. That led to 27 arrests. Platforms like Facebook face heat too. Malaysia summoned Meta executives multiple times over scam ads tied to gambling. From January to November 2025, authorities asked to remove 157,208 illegal ads and 44,922 scam ones.

Operation Dadu, a nationwide crackdown, nabbed dozens in recent sweeps. But challenges remain. International sites still accept Malaysian users, processing payments in ringgit. The new law would expand powers to hit operators harder.

Experts note that fraud losses hit RM248 million, or about US$52.7 million, linked to these platforms. Stronger rules could cut that down.

• Key enforcement wins: Over 120,000 removal requests to tech giants in 2025.
• Focus areas: Blocking apps and tracing money flows.
• Community role: Tips from locals help spot hidden operations.

With these steps, Malaysia hopes to build a safer online space for everyone.

As Malaysia steps up its fight against illegal gambling, the path ahead looks promising yet tough. This new legislation could save countless families from heartbreak, especially by guarding the young from easy digital traps. It reminds us how old laws must evolve to meet new dangers, fostering a healthier society overall. The drive to protect social bonds shows real care for the future.

Brazil just flipped the switch on full regulation and the entire gaming world is watching. One company already built the bridge everyone else now wants to cross. Betcore unveiled its revolutionary Single API at ICE Barcelona 2026, instantly turning heads and rewriting the rules for operators hungry to scale across Latin America.

The old way of juggling dozens of providers is dying fast. Betcore’s bold move proves that speed, compliance, and player excitement can live under one roof.

Operators in Latin America used to sign contracts with twenty different suppliers just to offer casino, live games, and sports. Each integration took months and created endless headaches when regulations changed overnight.

Betcore changed everything in one announcement. The company merged TVBET, FASTSPORT, and El Casino into a single technical identity. Now operators connect once and get access to thousands of titles across every vertical.

Francisco Bravo, Betcore’s Chief Commercial Officer, told the packed ICE Barcelona crowd that the Single API already powers more than 150 brands across regulated LatAm markets. He said the secret is simple: give operators what they actually need instead of what looks good on a brochure.

The numbers back him up. Integration time dropped from an average of 84 days to under two weeks for most partners.

Brazil Shows the World How Fast Things Can Move

Brazil officially opened its regulated market in January 2026 with strict rules and high taxes. Many experts predicted chaos. Instead, the market exploded past all projections.

Licensed operators reported record handle in the first quarter alone. Players love the high-RTP games that Brazilian rules demand, and operators love that they can finally offer them without breaking the bank on tech costs.

Betcore’s platform became the go-to choice for many new entrants. The company already holds licenses in Colombia, Peru, and now Brazil, with Argentina and Mexico applications in final review.

The Death of the Boutique Provider Era

Remember when every supplier claimed to be “best in class” for one tiny niche? That pitch doesn’t work anymore.

Big operators want partners who can handle casino, sports, live dealer, virtual sports, and lottery from day one. They need providers who update compliance features the same week new rules drop.

The industry is shifting hard toward what experts now call “ecosystem architects.” These companies don’t just supply content. They become the technical backbone that lets operators focus on marketing and players instead of backend fires.

Betcore sits at the front of this wave. The Single API already includes:

• More than 12,000 casino games
• Full sports coverage with 70,000+ monthly events
• Live dealer studios broadcasting in Portuguese and Spanish
• Virtual sports running 24/7
• Complete lottery and crash game options

All of it runs through one connection, one contract, and one support team.

What This Means for Your Wallet in 2026

Players win big from this shift. More competition plus lower costs for operators means better bonuses, higher RTP, and faster payouts.

One major Brazilian operator reported cutting its tech spend by forty-two percent after switching to Betcore’s platform. They passed most of those savings straight to players through improved promotions.

Smaller operators finally get a fighting chance too. Before, only the biggest companies could afford proper LatAm coverage. Now any licensed brand can launch a full product suite in weeks instead of years.

The Bigger Picture Nobody Talks About

This consolidation wave creates winners and losers fast. Boutique providers who can’t adapt face tough choices: get acquired, pivot hard, or fade away.

Betcore already started the shopping spree. Industry sources say more acquisitions are coming before summer. The goal stays simple, keep adding best-of-breed content while maintaining the single integration promise.

Francisco Bravo put it bluntly during his ICE session. “Players don’t care who made the game. They care if it loads fast, pays fairly, and works on their phone. Everything else is noise.”

The message landed hard in Barcelona. Operators lined up at Betcore’s booth for hours, desperate to book demos before competitors locked in capacity.

Latin America’s gaming revolution just found its engine. Brazil proved the model works. Colombia and Peru keep growing. Argentina prepares its own regulated launch. Mexico watches closely.

One platform now powers the future across borders that used to feel worlds apart. The old patchwork approach looks ancient overnight.

Betcore didn’t just attend ICE Barcelona 2026. They changed the conversation for years to come. The betting world will never run on twenty different APIs again.

The PGA Tour just dropped a bombshell: Americans wagered 20% more money on golf in 2025 than the year before. That marks four straight years of double-digit growth, and the surge during the playoffs left everyone stunned.

August delivered the real fireworks. Betting handle on the three FedEx Cup Playoff events jumped 50% year-over-year. The season-ending Tour Championship at East Lake in Atlanta saw its wagering volume more than double.

Fans now bet billions on every putt, drive, and leaderboard shift. The shift shows golf has finally cracked the code on live sports betting excitement.

Partnerships Fuel the Fire

The PGA Tour wasted no time jumping into the action after the 2018 Supreme Court ruling killed PASPA. Today it works hand-in-hand with giants like DraftKings and FanDuel.

Real-time odds now pop up during broadcasts. PGA Tour Live Betcast streams on the ESPN app let fans place bets while watching alternate-shot coverage. The Tour calls it the perfect mix of sport and action.

What the Numbers Really Say

Here’s how fast golf betting has grown since states started legalizing sports wagering:

Four years running, the handle keeps climbing with no slowdown in sight.

Bigger Plans for 2026

The Tour already laid out the next move. Starting in 2026, the DraftKings-sponsored Betcast expands from six events to twelve. That includes The Players Championship and over 400 hours of live streaming packed with betting options.

More cameras, more data, more ways to bet on every shot. Golf fans who never touched a sportsbook five years ago now check live odds before the first tee shot.

The quiet country-club sport has turned into one of the hottest betting tickets in America. From weekend hackers to Wall Street traders, millions now have skin in the game every time a pro steps on the green. The PGA Tour just proved golf belongs in the same conversation as football and basketball when the money is on the line.

PointsBet Canada just fired the starting gun. Alberta adults can now pre-register for sports betting and online casino action months before the province flips the switch on its brand-new open market.

The Australian-born operator became one of the first brands to open sign-ups after the Alberta Gaming, Liquor and Cannabis Commission (AGLC) gave the green light to market and take early registrations. Thousands of Albertans have already jumped in to lock down launch-day bonuses and alerts.

Alberta Becomes Canada’s Second Open iGaming Province

Ontario broke the ice in April 2022 with North America’s first fully competitive online gambling market. Alberta now follows the same playbook and ditches the old Play Alberta monopoly run by the government.

Private operators like PointsBet, BetMGM, DraftKings, and FanDuel can soon apply for licenses and serve players directly. The change promises more games, better odds, bigger bonuses, and stronger responsible-gaming tools than the single-site model ever offered.

Alberta gamblers stand to gain the most from this shift. Industry experts expect the new system to generate hundreds of millions in extra tax revenue while cutting black-market play.

How Pre-Registration Works Right Now

Visit PointsBet.ca, pick Alberta as your province, and fill out the short form. No deposit is required yet. New users get first crack at exclusive welcome packages when doors officially open, expected sometime in the next few months.

PointsBet promises the same lightning-fast app that already powers its Ontario business. That means same-game parlays, early cash-outs, and live streaming of thousands of events each year.

The company also brings its full casino suite powered by top studios like Evolution, Pragmatic Play, and Light & Wonder.

What Players Can Expect on Launch Day

Speed sits at the heart of the PointsBet difference. The in-house tech stack delivers odds updates in milliseconds and payouts that often hit accounts in under two hours.

Responsible gaming stays front and center too. Alberta players will see:

• Mandatory deposit and loss limits
• Time-out and self-exclusion options
• Real-time play tracking and alerts
• Direct links to provincial support services

Scott Vanderwel, CEO of PointsBet Canada, calls the Alberta rollout a natural next step after huge success in Ontario. “We built this platform for Canadians, by Canadians,” he said. “Albertans deserve world-class choice and protection, and we’re ready to deliver both.”

Bigger Picture for Canadian Online Gambling

Two provinces now run open, regulated iGaming markets that together cover more than half the country’s population. British Columbia, Saskatchewan, and Atlantic Canada still limit play to government sites, but pressure grows for change.

Analysts predict the regulated Canadian market could top C$3 billion in annual revenue within five years as more provinces follow Ontario and Alberta. Tax dollars flow straight to healthcare, education, and problem-gambling programs instead of offshore sites.

The shift also creates hundreds of local tech, marketing, and customer-service jobs. PointsBet already employs dozens in Toronto and plans further hires as Alberta comes online.

Alberta’s bold move proves competition works for players and governments alike. Residents finally get the same modern betting experience as friends in Ontario, Europe, or legal U.S. states, all wrapped in tough regulation that keeps things safe.

The countdown is on. When AGLC gives final approval, PointsBet and other big names will flood the market with offers and innovation. For Alberta bettors tired of limited options, the wait almost ends.

New York just fired a warning shot at the sports-betting industry. State regulators are ready to wipe out popular player prop bets and same-game parlays if they keep threatening the honesty of games.

The New York State Gaming Commission sent a blunt letter to every major sports league on Wednesday. The message: clean up these high-risk wagers or we will do it for you.

Player prop bets and same-game parlays now sit at the center of multiple scandals. The most public case involves Toronto Raptors backup Jontay Porter, who received a lifetime ban from the NBA in April after the league found he shared confidential information with bettors and deliberately limited his own playing time to cash bets.

That case alone triggered alarms. Gambling revenue in New York exploded past $2 billion in tax money since legal mobile betting launched in January 2022, yet regulators now fear the fastest-growing bet types also create the easiest path for corruption.

The commission pointed to “recent allegations, investigations and prosecutions” as the main reason for the sudden review. Officials worry that bets on single players in single games give athletes, coaches, or even trainers too much power to influence outcomes for profit.

What Bets Are on the Chopping Block

The state singled out two specific wager types:

• Game-specific individual player props (example: Will Aaron Judge hit a home run tonight?)
• Same-game multi-leg player parlays that combine several player props from one contest

These bets differ from traditional point spreads or over/under totals on team performance. A single player can control or fake an injury to hit or miss a prop threshold without hurting the final score much. That makes them perfect tools for anyone looking to fix part of a game quietly.

Regulators gave leagues until early next week to send formal requests for restrictions. If leagues stay quiet, New York says it will act alone and ban whatever it deems dangerous.

Leagues React Fast and Loud

The NBA, NFL, NCAA, MLB, NHL, and Major League Soccer all confirmed they received the letter. Several already support limits.

The NFL and NCAA have pushed for nationwide prop-bet bans on college athletes for years. Now even pro leagues appear ready to sacrifice some betting options to avoid more black eyes.

An NBA spokesperson told reporters the league “continues to work closely with regulators and operators to protect the integrity of our games.” Behind the scenes, sources say most leagues welcome the move because it shifts blame away from them if fans lose popular bets.

How This Hits Your Wallet and Phone

New York leads the country in sports-betting tax revenue. Last fiscal year alone, the state collected more than $860 million. Player props and same-game parlays drive a huge slice of that money.

FanDuel and DraftKings both list dozens of player props for every primetime game. Same-game parlays often carry the highest margins for the books and the biggest payouts that keep casual bettors hooked.

If New York pulls the plug, expect a sharp drop in handle, the total money wagered, and in tax dollars. Operators may shift promotions to safer team bets or rush to offer new products that stay inside the rules.

Regular fans will notice the change fast. No more easy $5 bet on your favorite pitcher to record over 6.5 strikeouts. No more 10-leg same-game parlay that turns twenty bucks into twenty thousand.

What Happens Next and When

The Gaming Commission set an aggressive timeline. Leagues must reply soon. Regulators plan to finish their review in weeks, not months.

Any ban would start in New York only, but the state matters so much that other big markets like New Jersey and Pennsylvania often follow its lead. A New York prohibition could spark a domino effect across the country.

Operators already brace for impact. Shares of DraftKings dipped more than 3 percent after the letter became public Wednesday afternoon.

The state made one thing crystal clear: protect the games first, worry about the money second.

This moment feels bigger than one state or one bet type. After years of explosive growth, sports betting faces its first real rollback. Fans love the action, leagues love the exposure, and states love the cash, but nobody loves another gambling scandal that drags athletes into court.

New York just drew a line in the sand. Players, leagues, and betting companies now have to decide which side they stand on before regulators decide for them.

Mike DeWine now says signing the 2021 gambling bill is the one decision he wishes he could take back, warning of addiction, aggressive ads, and threats to sport integrity.

Cleveland, Ohio — Governor Mike DeWine dropped a bombshell Wednesday, telling the cleveland.com editorial board that legalizing sports betting ranks as the single biggest mistake of his seven years in office.

The Republican governor, who signed the bill in December 2021, pointed to exploding addiction rates among young men, nonstop advertising, and growing fears that gambling money could corrupt professional and college games.

What DeWine Actually Said

“People always ask me what mistakes I made,” DeWine told editors. “I’ll lead with signing the bill for sports gaming. That’s the biggest mistake I made.”

He called the volume of betting “staggering” and the advertising “relentless.” Ohioans wagered $7.7 billion in 2023 and nearly $8.9 billion in 2024, numbers the governor said shock him every time he sees them.

“It’s a huge problem among young males up to age 45,” DeWine said. “We have many of them addicted, many spending money they simply do not have.”

The Numbers Behind the Regret

Ohio’s sports betting rollout on January 1, 2023, was one of the fastest and largest in U.S. history.

Here are the official handle figures from the Ohio Casino Control Commission:

• 2023: $7.73 billion wagered
• 2024: $8.87 billion wagered (through December)
• First 24 months total: more than $16.6 billion

Tax revenue looks impressive on paper — roughly $1 billion for the state — but DeWine now says the human cost far outweighs the dollars.

National studies back up his worry. The National Council on Problem Gambling says about 1 in 5 young adult males now show signs of gambling disorder, double the rate before widespread legalization.

In Ohio, calls to the state’s gambling helpline jumped 260% in the first year of legal betting.

Advertising That Never Stops

Walk into any gas station or scroll any app in Ohio and the ads hit you immediately: “Bet $5, get $200 in bonus bets,” “Risk-free first bet up to $1,000.”

DeWine called the marketing “in your face, 24/7.” Industry data shows Ohio gambling companies spent more than $1.2 billion on advertising and promotions in the first two years — more per capita than almost any other state.

Integrity Risks Hit Close to Home

The governor also raised alarms about game integrity. “When you have this much money flowing, the temptation for point-shaving or worse becomes real,” he warned.

Ohio is home to the Bengals, Browns, Reds, Guardians, Cavaliers, Blue Jackets, and major college programs. The NFL, NBA, and NCAA have all reported spikes in suspicious betting alerts since 2022.

Just last year, the University of Dayton expelled several athletes linked to improper betting activity, and Toledo faced NCAA scrutiny over similar issues.

Where Ohio Goes From Here

DeWine stopped short of calling for a full repeal — he admitted that ship has sailed — but he wants major changes:

• Slash the number of advertising minutes during games
• Ban credit-card wagering
• Raise the minimum age from 21 to 25
• Force betting apps to share data with the state to spot problem gamblers faster

Lawmakers in Columbus say new restrictions will be introduced when the General Assembly returns in February.

The governor ended his remarks on a somber note. “We opened the door thinking we could control it. We were wrong. And families are paying the price every single day.”

Evoke plc shocked markets Tuesday by slashing its 2025 profit outlook and refusing to give 2026 guidance while a strategic review that could end in a full sale hangs over the company. Shares in the William Hill and 888 owner plunged as much as 12% in London trading, wiping out hundreds of millions in market value in hours.

The British gambling giant now expects full-year 2025 revenue of about £1.79 billion, up just 2% from 2024 but well below the £1.84 billion analysts had penciled in. Adjusted EBITDA will land between £355 million and £360 million, a solid 14% jump year-on-year yet short of the £362 million-plus the company itself promised just months ago.

What Triggered the Sudden Drop

Investors ran for the exits after Evoke blamed tougher-than-expected trading in the fourth quarter. Revenue slid 3% to roughly £464 million in the final three months of 2025.

The company pointed to brutal sports-book margins. Last year, big punter wins on football and horse racing hammered bookies across the industry. This year, results swung the other way, handing customers hefty payouts and squeezing operator profits. Evoke called it a “normalized” sporting calendar, but the damage was already done.

The bigger cloud remains the looming rise in UK gambling taxes and ongoing regulatory pressure that continues to eat into margins across the sector.

Strategic Review Keeps Everyone Guessing

Evoke launched a formal strategic review last year and now says it is “considering all options,” including a potential sale of the entire company or individual brands.

Chief executive Per Widerström, who took the helm in late 2023, has spent the past two years trying to turn around the business after the £2.2 billion purchase of William Hill’s non-US assets from Caesars Entertainment. The deal loaded the balance sheet with debt just as Britain tightened gambling rules and affordability checks kicked in.

No one knows if a white knight buyer will step up or whether Evoke will break itself up to maximize value. That uncertainty froze investors Tuesday.

How the Numbers Stack Up

The EBITDA miss, though small in percentage terms, signals that cost cuts and efficiency drives are not keeping pace with regulatory headwinds.

Broader Pain Across UK Gambling Stocks

Evoke is not alone. Entain, Flutter, and Rank Group have all warned on profits in recent months as the industry digests higher taxes, stricter advertising rules, and new stake limits on online slots.

Britain’s remote gaming duty stays at 21% for now, but operators already pay a new statutory levy to fund research and treatment, and many fear further hikes in future budgets. Add in the cost of safer-gambling tools and affordability checks, and profit pools are shrinking fast.

For Evoke, the William Hill retail estate, once seen as a crown jewel, has become a drag as footfall shifts online and shop closures accelerate.

What Happens Next for Investors and Punters

Until the strategic review concludes, probably sometime in the first half of 2026, Evoke shares look likely to stay volatile. Some analysts believe a break-up could unlock value, with the US joint venture with Sports Illustrated and the core online brands potentially worth more apart than together.

Others worry that without a quick sale, Evoke will keep burning cash on debt interest and regulatory compliance while competitors with cleaner balance sheets pull ahead.

One thing is clear: the glory days of sky-high margins in British online gambling are over. Companies like Evoke now face a tougher, more expensive world where every pound won from customers costs more to win and keep.

The sharp sell-off Tuesday shows investors have little patience left for surprises. After years of promises, they want action, and they want it fast.

Chicago’s push to legalize video gambling terminals in bars and restaurants hangs in the balance, even after the City Council gave it the green light last month. Mayor Brandon Johnson and key aldermen now say more talks are needed, sparking fresh drama in the city’s 2026 budget saga. What changes could reshape this plan, and how might it affect everyday Chicagoans?

The City Council voted 29-19 in late December to pass a revenue plan that included legalizing video gambling terminals, or VGTs, to help plug budget holes without the mayor’s proposed head tax. This move came after tense standoffs that nearly shut down city government. Officials called the budget a “living document,” hinting at room for tweaks.

Johnson’s team sees the VGT plan as unfinished business. Top adviser Jason Lee stressed it needs “more time and some judicious collaboration.” The approval marked a rare defeat for the mayor, who had pushed for other revenue ideas like taxing high-earner jobs. Now, these talks are the first big effort to alter the budget passed over his objections.

Aldermen who backed the plan argue VGTs could bring in millions for the city. Estimates from city finance experts suggest up to $35 million in annual revenue from taxes on the machines. But critics worry about the social costs, pointing to a 2019 Illinois gambling expansion that led to more addiction cases.

One short fact stands out. Since Illinois allowed broader gambling, mental health providers have reported a spike in people seeking help for betting problems, according to a recent Axios report.

Key Players Push for Changes

Mayor Johnson has signaled he’s open to adjustments but wants protections in place. His administration fears unchecked VGTs could hurt neighborhoods already struggling with crime and poverty. Aldermen like those from wards hit hard by economic woes see the machines as a quick cash boost for local spots.

Negotiations focus on details like where VGTs can go and how many per location. Some council members want limits to avoid oversaturation in low-income areas. Bally’s, the company building Chicago’s new casino, has loudly opposed the plan, warning it could cut their revenue and jobs.

In a letter last month, Bally’s leaders claimed VGTs might siphon off casino visitors, threatening the $1.7 billion project set for River West. That casino, delayed beyond its 2026 deadline, already faces funding woes.

Talks involve balancing revenue needs with community concerns. Johnson aide Lee noted the process requires input from all sides to get it right.

• Revenue Potential: City projections show VGT taxes could generate $20-35 million yearly, based on models from other Illinois towns.
• Addiction Risks: State data from 2024 indicates a 15% rise in gambling helpline calls since expansions began.
• Job Impacts: Bally’s estimates up to 500 casino jobs at risk if VGTs draw away gamblers.

These points highlight the trade-offs at play.

Broader Effects on Chicago’s Economy

Legalizing VGTs could change the city’s bar and restaurant scene, giving small businesses a new income stream. Owners in suburbs with VGTs report boosts in foot traffic and sales. But in Chicago, where gambling has been limited, this shift raises questions about fairness.

Experts from the Illinois Gaming Board point to data showing VGTs in other areas added $800 million to state coffers in 2024 alone. For Chicago, it might mean funding for schools or roads without raising property taxes, which hit a record high last year.

Yet, the plan ties into bigger fights, like Illinois lawmakers’ efforts to block Chicago’s new sports betting tax. Set to start January 1, 2026, that 10.25% levy aims to raise funds but faces state pushback. Lawmakers in Springfield introduced bills to stop cities from adding such taxes, calling it a power grab.

One key study from Gambling Insider in early 2026 analyzed similar expansions. It found that while revenue grows, communities often see more problem gambling, with treatment costs rising 20% in affected areas.

This uncertainty affects everyday people. Bar owners hope for extra cash to survive rising costs, while residents worry about addiction hitting families hard.

Aspect	Projected Benefit	Potential Drawback
Revenue	$35M annual city tax income	Depends on machine limits
Jobs	Boost for bars and restaurants	Possible losses at Bally’s casino
Social Impact	More entertainment options	Increased addiction risks, per state health data

Challenges from State and Local Pressures

State-level drama adds layers to Chicago’s VGT push. Illinois expanded gambling in 2019, allowing VGTs outside the city, but Chicago held off due to past scandals. Now, with budget shortfalls topping $1 billion, leaders see it as a fix.

Johnson’s team wants safeguards, like banning machines near schools or churches. Aldermen counter that delays could mean lost revenue amid economic strains.

A 2025 report from the Civic Federation, a watchdog group, urged careful rollout to avoid pitfalls seen elsewhere. It cited examples where quick expansions led to regulatory messes.

Public sentiment is mixed. Some residents cheer the idea for funding city services, while others fear it preys on vulnerable groups.

These negotiations test Johnson’s leadership in his first term. With the budget passed against his wishes, any changes could set precedents for future council-mayor relations.

One thing is clear. The talks aim to refine the plan before implementation, possibly by spring 2026.

Chicago’s video gambling saga shows how tough choices in tough times can divide leaders and communities. As negotiations drag on, the city balances quick cash against long-term risks, leaving many to wonder if VGTs will truly help or just create new problems.