Category Archives: Gambling

The Philippine government has temporarily stopped collecting its controversial online gambling turnover tax, while a new controversy swirls over whether 100k Chinese gambling workers received an unauthorized COVID-19 vaccine.

On Tuesday, the Philippine Department of Finance announced that it will halt collection of the 5% franchise tax on Philippine Offshore Gaming Operators (POGOs). The announcement followed a Supreme Court ruling on Monday granting a temporary restraining order (TRO) sought by 14 POGOs who felt the tax was a violation of their right to equal protection under the law.

The Philippine government announced the tax last September and began collecting it the following month. The tax was justified as a means of funding the governments pandemic response but POGOs felt they were being asked to bear an outsized share of this burden.

The Manila Bulletin quoted Finance Secretary Carlos G. Dominguez III (pictured) saying that his department would respect the restraining order without indicating the governments long-term response. The Philippine treasury has been severely depleted by COVIDs impact on the overall economy and the governments share of gambling revenue fell by as much as 80% last year.

The governments increasingly strict oversight of the POGO sector has not only impacted direct gambling tax revenue but also the economy as a whole. Many POGOs who were forced to shut down last spring due to the pandemic declined to resume operations once the all-clear sounded, leaving a major gap in the commercial real estate market.

In December, Leechiu Property Consultants estimated that POGOs vacated 277k-square-meters of office space in 2020, resulting in the loss of around 127k jobs and P1.4b (US$29.1m) in rental income.

POLICE TO VET ONLINE GAMBLING APPLICANTSTo date, only 35 POGOs have received permission to resume operations from the Philippine Amusement and Gaming Corporation (PAGCOR) and the Bureau of Internal Revenue. The latter required all POGOs to settle outstanding tax bills before being permitted to restart operations but POGOs may now have yet another hurdle to clear.

Late last month, Philippine media reported that PAGCOR chair Andrea Domingo had worked out a deal with Philippine National Police (PNP) chief Debold Sinas in which the PNP would have a role in vetting all gambling license applicants, including POGOs, to determine if their operations are legitimate.

Details of this arrangement have yet to be finalized, including whether the PNP plans to vet existing POGO licensees who have not yet received clearance to resume operations. But one detail is clear; the PNP will have to verify the legal status of an operator with PAGCOR before staging a raid on any online gambling business.

POGO WORKERS GOT SMUGGLED CHINESE VACCINEMeanwhile, local media is abuzz with reports that as many as 100k Chinese nationals many of whom employed by POGOs had been inoculated with a Chinese-made COVID-19 vaccine last November. At the time, this vaccine had yet to be authorized by either Philippine or Chinese medical bodies and was reportedly smuggled into the Philippines without the knowledge of local authorities.

Harry Roque, spokesman for Philippine President Rodrigo Duterte, dismissed concerns over POGO workers being given unauthorized vaccines, saying that if the reports were true, there will be 100k less possible carriers of the coronavirus in the Philippines.

Originally posted here:

Philippine gov't to respect online gambling tax ruling ... for now - CalvinAyre.com

When the state legislature convenes Wednesday, one of its first tasks will be to approve new rules, same as every year.

This time around, Sen. Martin Looney declared, the rules will bring as dramatic a shift as the legislature has ever seen.

Its like moving from the quill pen to the computer all at once, said the New Haven Democrat whos president pro-tem of the Senate, starting his 41st year in the General Assembly.

Thats because of COVID and social distancing, with remote hearings and votes. Its a budget year the legislature debates and approves a state budget once every two years and, with a lost session in 2020, more than the usual number of contentious issues could hit the governors desk.

The legislature could approve retail cannabis sales, for example. This could be the year for online sports betting and voting reform. We can expect debates about affordable housing and maybe even school desegregation measures, along with the fight over mandatory school vaccines that ended suddenly when the pandemic struck last March.

The question, then, is how and whether the coronavirus rules will bend the path for the toughest, most complex and controversial bills. Are they more likely to become law, or less likely?

We truly dont know the answer to that question, Looney said, calling the situation unprecedented.

As a general rule, some insiders including incoming House Speaker Matt Ritter, D-Hartford, say old, familiar battles could reach a vote easily, while debates that havent aired will face higher hurdles.

Some nuts and bolts of the legislative process had to be overhauled. Previous rules required bills to be hand-delivered or sent by interoffice mail. Thats no longer possible.

Obviously the inability for us to see each other in person in many ways will make lots of legislation more difficult, said Rep. Jason Rojas, D-East Hartford, the House majority leader.

The upshot will be more small-group discussions held by video conference. Rojas, previously co-chairman of the tax-writing finance committee, said committees in particular will find it difficult this year.

Committee chairs, he said, will have to be far more assertive in reaching out to members.

Were all just going to have to be more intentional about the work that we do, he said. We need to do a lot of that work we otherwise take for granted in other circumstances.

I would admit that the committee process is going to be a lot different, Ritter said.

Some of the more controversial bills might sail through simply because theyve been discussed for years, he said.

Online sports gaming? We all know the issue, he said. Its not like theres going to be some new wrinkle.

Legalized cannabis sales? Its been debated for six years, Ritter said. Early voting? People know what early voting is. Election reform I put that into the category of been debated for a decade.

Complex issues that have not yet been vetted, though, will have a harder time being passed. Legislators will be spending more time in one-on-one discussions before a bill ever comes to a vote.

Newer concepts would require a lot of time individually lobbying people, Ritter said. Its not impossible, but its going to take a lot of work, or the issue has to resonate with the public.

There are, however, some advantages to conducting legislative business remotely. State budgets are ultimately decided by legislative leaders and chairs of the budget committees, a group of about ten people.

By contrast, the legislatures housing committee consists of 14 legislators. The public safety and security committee has 25 members. The appropriations committee, which sets a spending plan, has 51 members from every corner of the state.

Scheduling a time that every one of those members could be in a room together in Hartford has, in the past, been a challenge. Not this year.

It might be easier to set up those meetings, because of Zoom, Rojas said.

The same was true for public hearings. In previous years, if a person wanted to testify on a particular issue, they had to take the day off and spend it at the capitol in Hartford. This year, all testimony will be submitted electronically.

Youll actually get more public participation, potentially, Ritter said.

But there is something lost. There will be fewer if any impassioned speeches before the assembled committee members, affecting the dynamic of the legislative process, Rojas said.

Those speeches on the most contentious bills can actually sway a legislators vote.

We all lose something when theres less in-person contact, Rojas said. Absolutely you lose that human element. You can hear the emotion, you can feel it through Zoom but it;s certainly not the same as when its in person.

This year, the deadlines for legislators to submit new proposals are being moved back a week, Looney said.

Its just one example of how the process of passing bills will take more time.

Everythings just slower, and when you slow things down you get less bills, Ritter said. It takes time in a normal circumstance, its going to take extra time with COVID.

Its not that no bills will get passed. Theres going to be tons of bills, according to Ritter. We dont have the ability to do as many bills as we normally do. Everybodys working from home. The speed at which the legislature works is based on factors that are not at play here.

Incoming House Minority Leader Vincent Candelora, R-North Branford, agreed.

I think that we all need to recognize COVID is going to slow down our process, he said. Its going to be more difficult to complete bills. In the September special session it took well over three weeks to get seven bills in position to vote on them. And even though they were bipartisan, it took 14 hours for them to get through.

Staff writer Ken Dixon contributed to this story.

Read this article:

Pot, gambling, election reform: How COVID will sway controversial legislation - CT Insider

On July 14, 2020, the Verkhovna Rada of Ukraine legalised gambling, a move which was lauded as a historical event for a country where the activity had been prohibited for almost a decade.

From that moment on, the Rada and cabinet ministers have been working on the adoption of all the necessary bylaws, as the country seeks to launch its regulated marketplace this year.

With the CIS region very much shooting towards the forefront of the industrys agenda in recent times, CasinoBeats has been speaking to Andrey Astapov, managing partner at Eterna Law and member of the Expert Advisory Council of the Gambling and Lottery Regulation Commission of Ukraine, to get the latest developments emanating from the region.

Astapov says that the big news is that, in the near future, cabinet ministers will approve the licensing conditions for each type of gambling activity, meaning that the Gambling Commission is getting ready to start accepting applications and, ultimately, launch the gambling market in Ukraine.

With gambling having been outlawed countrywide for such an extensive period of time, Astapov begins by assessing why he believes it has taken so long to enact this regulatory agenda: Developing the legal framework for the industry, which was prohibited and unregulated for many years, can be difficult for many reasons, he says. This process requires the in-depth analysis and consideration of all specifics of the industry, in general, as well as each gambling product.

Lots of time is also given to continuing consultations with various stakeholders. Industry representatives, politicians, deputies of the parliament everybody usually has different opinions. And, every such opinion shall be given fair consideration.

Extensive public discussions started already at the early stages of the gambling law drafting. Initially, they led to the development of a few alternative gambling laws. And, later, to the many amendments introduced in the Verkhovna Rada.

The aim was and continues to be the development of legislation that is accountable, consistent, and transparent

So, indeed, the adoption of the regulatory agenda was quite a lengthy process. Nevertheless, this only proves that drafting any good quality and comprehensible legislation is a long process, while different factors and approaches should be carefully analysed.

With this in mind, and confidence expressed at significant developments coming to the fore in the near future, Astapov continues by touching upon what the approvals process will look like for those seeking to enter the market: The licensing process is much simpler in comparison with other jurisdictions as the main goal of the authors of the gambling law was to launch the market quickly.

The gambling organiser prepares and submits the package of documents to the Gambling Commission that has 15 days to consider the application. After that, the organiser either obtains the license or obtains the refusal with the right to resubmit the application.

As to the requirements, the gambling law prescribes certain requirements for the gambling organiser. For example, essentially, the gambling organiser shall have the company registered in Ukraine, the authorised capital in the amount of 30 million hryvnias, and the bank guarantee for the payment of winnings. There are also a number of reputational and organisational requirements.

As Ukraine heads towards the finish line in its struggles to legalise gambling, with a law that analysts say promises a lot, glances are taken elsewhere as Astapov examines what lessons have been taken from those already regulated jurisdictions: The aim was and continues to be the development of legislation that is accountable, consistent, and transparent.

Therefore, there is a clear understanding that the Ukrainian gambling legislation should be in line with the standards and usual world practices for the gambling regulation.

The authors of the gambling law paid attention to many gambling practices in countries where the industry regulation withstood the test of time, including the national legal frameworks of Malta, the UK, Russia, and Georgia.

The figures are only going to increase once the market starts to function legally

All frameworks were carefully analysed at the stage when the Ukrainian gambling law was only at the origins of its creation. As a result, the Ukrainian gambling law already implements the principle of responsible play, which include relevant methods to combat ludomania and related problems, anti-money laundering requirements as well as a range of other important principles.

To conclude, and perhaps the most pertinent question posed to Astopov, we enquired as to what potential the Ukrainian market ultimately has?

Ukraines return to legalised gambling is a big event for many big industry players, he explains. According to some market estimations, the volume of the Ukrainian gambling industry in the shadows amounted to more than 5bn Euros.

The figures are only going to increase once the market starts to function legally. So, the potential of the Ukrainian market is huge. Though there are also many local operators interested in obtaining different gambling licenses, special attention is received from foreign investors and large international brands in the gambling industry.

Currently, online gambling is more promising due to the pandemic. However, in the near future, land-based gambling is also going to recover. As Ukraine is known for its very good location in Europe, it is an accessible and attractive touristic destination. So, it has lots of benefits for those investors who search for alternative markets to open land-based casinos or betting points.

Link:

Andrey Astapov Ukraine's return to legalised gambling is a big event - Casino Beats

Caliente.mx fell from the second to the fourth position in the global ranking, which saw Netkeiba.com climb to second place and jra.go.jp to the third. The Florida Lottery fell by 7.2% but still led in the US, and the UK top three gambling websites by traffic saw positive trends in November. As for English keywords searched in November, sportsbet climbed to take the third place, overtaking casino.

Yogonet and SEMrush have released new traffic data of global and regional online gambling and gaming for the month of November 2020.

According to global data of top gambling websites by traffic, bet365.com still keeps the undisputed first place with 236.03 million users, a drop of 3.1% from October. Netkeiba.com managed to achieve the second place that month thanks to a monthly growth of 2.7% and a significant drop of 16.5% for Caliente.mx, which fell from the second to the fourth position with 74 million users. The third place was taken by jra.go.jp, which declined by 10.7% to 76.17 million. Seven of the top 10 companies in this ranking saw monthly decreases during November,almost the opposite of what happened the previous month, when 8 out of 10 saw positive numbers.

Novembers regional data for the US sees the leading Florida Lottery (flalottery.com) down by 7.2% from October with 20.58 million users. It was followed by the Texas Lottery (txlottery.org) with 12.12 million, flat from the prior month. The Lottery Post (lotterypost.com) came third with 11.67 million users, a monthly growth of 4.6%.

The UK top three gambling websites by traffic saw positive trends compared to the prior month. Bet365 led the ranking agai with 22.81 million users, up 5.3%. Skybet came next with 18.4 million, an increase of 8.5%. William Hill kept the third place with 16.92 million users, a monthly growth of 6.2%.

As for the LatAm market, bet365.com led the regional ranking in Brazil with 115.2 million users in November, down 4.1% from the prior month. It was followed by Ojogodobicho.com, which grew by 5.5% hosting 54.59 million users. Still very far behind them, sportingbet.com kept the third place with 7.77 million, up 32.7% from October.

In Mexico, despite seeing a 16.5% drop in October, Caliente.mx easily kept the first place with 73.66 million users. Codere.mx fell by 4% and came second though very far, with 5.45 million, while strendus.com.mx took the third position with 374,244 users with a 9.4% decline.

Colombia's online gambling traffic ranking saw Wplay.co come on top with 24,723,341 users, down 10.7% from October. It was followed by betplay.com.co, which saw a significant decline by nearly 28% and hosted 19.66 millions. They were followed far behind by rushbet.co with 2.6 million, down nearly 7%.

In Peru, bet365 took the lead again with 3,078,029 users in November, flat from October. It was followed by teapuesto.pe, which fell by 2.1% to 2.24 million. Inkabet.pe came third very close with 2.23 million users.

SEMrush also works with search volume data related to the gaming industry, based on the average number of times a specific search query is entered on a search engine per month. The top global English keywords searched in November were lottery (4,090,000 times), followed by online games (2,740,000), and the novelty that month was that sportsbet climbed to take the third place with 2,240,000 times, overtaking casino, which fell to 1,830,000 times.

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Bet365 still leads global online gambling traffic in Nov., followed by two Japanese websites - Yogonet International

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Ryan McKee and Zach Broner have all the NBA picks today and everything you need to know about betting on future games. For Wednesday January 6th, they discuss their Quick Picks for tonights slate of Houston Rockets @ Indiana Pacers (-2), Cleveland Cavaliers @ Orlando Magic (-6), Washington Wizards @ Philadelphia 76ers (-6.5), Charlotte Hornets @ Atlanta Hawks (-6), Boston Celtics @ Miami Heat (-2.5), Utah Jazz (-7) vs New York Knicks, Detroit Pistons vs Milwaukee Bucks (-13.5), Oklahoma City Thunder @ New Orleans Pelicans (-8), Toronto Raptors @ Phoenix Suns (-3), Los Angeles Clippers (-2) @ Golden State Warriors, and Chicago Bulls @ Sacramento Kings (-7). Quick Picks starts at about the 6 minute mark (5:55).

Next, the guys talk more in-depth about three of Thursday games in 3 Previews: Philadelphia 76ers @ Brooklyn Nets, Dallas Mavericks @ Denver Nuggets, and San Antonio Spurs @ LA Lakers (20:52). Finally, they end with two of their favorite betting trends right now in Hot Trends (37:47).

Make sure to subscribe toNBA Gambling PodcastonAppleandSpotify. Also, check out Ryan McKees new bookModest Proposal Anthologyavailable on Amazon and anywhere else you buy books.

Excerpt from:

NBA Picks Today, Thursday Previews, Hot Betting Trends | NBA Gambling Podcast (Ep. 111) - The Sports Gambling Podcast

NEW YORK--(BUSINESS WIRE)--Elys Game Technology, Corp. (Elys or the Company) (Nasdaq:ELYS, NEO:ELYS), an interactive gaming and sports betting technology company, announced today that it has joined the National Council on Problem Gambling (NCPG) to further the development and implementation of responsible gambling practices.

NCPG is a leading U.S. non-governmental organization (NGO) serving as the national advocate for programs and services to assist people and families affected by problem gambling. Through its NCPG membership, Elys will support NCPGs wide-ranging problem gambling prevention, treatment, education, and research programs, as well as innovative responsible gambling policies.

Michele (Mike) Ciavarella, Executive Chairman of Elys Game Technology, Corp., stated, As we prepare our first U.S. deployment in Washington D.C., we are delighted to become a member of NCPG and support their invaluable work in addressing the critical and widespread need for responsible gambling practices. We are proud to join forces with the esteemed board of directors, members and stakeholders of NCPG to develop and promote national U.S. industry standards in responsible gaming, including the Safer Sports Betting Initiative and Internet Responsible Gambling Standards, which provide critical player services and protections. There is no bigger responsibility for us than ensuring the best and safest possible experience for our gambling operators and their players, while providing assistance for those individuals who show signs of problem gambling behavior. Partnering with NCPG further deepens our commitment to become a leader in responsible gaming and provides us valuable resources as we are preparing for the launch of our sports betting platform in the U.S.

Keith Whyte, Executive Director of NCPG, said, We are excited that Elys has become a member of NCPG, as they bring extensive experience around engaging with millions of players across their sports betting and iGaming platforms. Elys broad reach and commitment to responsible gambling will be a tremendous asset to NCPG as we continue raising awareness about problem gambling and the resources available to support those impacted. We look forward to working together with Elys to increase our mutual understanding of player behavior and reduce the risks for gambling problems.

Since there is no federal regulation of gambling or federal health insurance for all residents in the U.S., each state makes its own rules to meet its unique structure and goals. B2B and B2C companies like Elys become valuable partners for NCPG, a leading source of objective state-specific information on responsible gambling and problem gambling for the public as well as the gambling industry in the U.S. Companies may create, adapt and update their responsible gambling tools and practices with expert assistance as they work with the varied U.S. state gambling control entities, gambling operators and healthcare providers. In addition, NCPGs National Problem Gambling Helpline Network is the only source of problem gambling help in many areas of the country. Members like Elys make this possible.

About Elys Game Technology, Corp.

Elys Game Technology, Corp., is a B2B global gaming technology company operating in multiple countries worldwide, with B2C online and land-based gaming operations in Italy. In Italy, Elys offers its clients a full suite of leisure gaming products and services, such as sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games and slots.

The Companys innovative wagering solution services online operators, casinos, retail betting establishments and franchise distribution networks. The Company has completed the product regulatory requirements to commence B2B operations in the United States. Additional information is available on our corporate website at http://www.elysgame.com.

Investors may also find us on Twitter @ELYS_gaming.

About the National Council on Problem Gambling

NCPG is the only U.S. national advocate for people and families affected by problem gambling and is supported by members and donors; there is no federal funding for problem gambling services. NCPG is neutral on legalized gambling and works with all stakeholders to promote responsible gambling. If you or someone you know has a gambling problem, from anywhere in the U.S. you can call or text the National Problem Gambling Helpline Network at 1-800-522-4700 or visit http://www.ncpgambling.org/chat for confidential help 24/7/365. The call is free and confidential, and translation services are available in over 150 languages.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words could, believe, anticipate, intend, estimate, expect, may, continue, predict, potential, project and similar expressions that are intended to identify forward-looking statements and include statements regarding the Companys first U.S. deployment in Washington D.C.. These forward-looking statements are based on managements expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Companys ability to deploy as planned in Washington, D.C., the duration and scope of the COVID-19 outbreak worldwide, including the impact to the state and local economies, and the risk factors described in the Companys Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent filings with the U.S. Securities and Exchange Commission, including subsequent periodic reports on Form 10-Q and current reports on Form 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.

See more here:

Elys Game Technology Joins the U.S. National Council on Problem Gambling in Advance of Launching its Sports Betting Platform in the U.S. - Business...

Las Vegas Raiders (7-8) at Denver Broncos (5-10)

Moneyline: Raiders -148 (FanDuel), Broncos +133 (DraftKings)

Spread: Raiders -2

Total: 50.5

The Denver Broncos host the Las Vegas Raiders at Empower Field at Mile High in the final game of the season, with kickoff set for 2:25 p.m. Both teams have been eliminated from the playoffs as both have stumbled down the stretch. Denver has lost four of its past five games and Las Vegas has lost three straight and five of six.

The Raiders crushed the Broncos 37-12 in the first matchup in Week 10 thanks to 193 combined rushing yards from Josh Jacobs and ex-Broncos running back Devontae Booker. They each had two rushing touchdowns in the win, while Derek Carr only completed 13 of his 25 passes for 154 yards. Drew Lock threw the ball 47 times, but he only completed 23 passes for 257 yards and finished with four interceptions.

Lock enters the final week of the season with a 14:15 TD:INT ratio and a 57% completion rate. Both his interceptions and completion percentage are tied for the worst marks in the league. This could be a good spot for Lock to finish strong as the Raiders have surrendered the eighth-most passing yards (259.2), the fifth-most yards per carry (4.7), the ninth-most total yards (385.3), and the fourth-most points per game (29.8).

The Broncos have allowed the 12th-fewest passing yards (229.9), but the seventh-most rushing yards (131.6), the third-most rushing yards per carry (4.8), and the eighth-most points per game (27.6). Vegas is spot on with this total (50.5) as we should see both teams flirt with 25 points.

Prediction: 28-24, Denver

Melvin Gordon OVER 73.5 Rushing Yards -112 (FanDuel)

The Raiders have allowed the fourth-most rushing yards (567) over the past four weeks (5.4 YPC). Myles Gaskin had 87 last week, Jonathan Taylor ran for 150 against them in Week 14, and Ty Johnson and Josh Adams combined for 178 rushing yards in Week 13. Gordon ran for 79 yards on 16 carries in Week 16 and with Phillip Lindsay sidelined for the season, we could see Gordon get another 16 carries.

Noah Fant OVER 4.5 Receptions -118 (DraftKings)

The over on Fants catch prop has hit in his past two games thanks to 20 targets over that span. Fant has 14 catches for 133 yards in his last two games and he has at least four grabs in four of his past five contests.

Darren Waller OVER 5.5 Receptions -115 (BetMGM) and OVER 50.5 Receiving Yards -115 (PointsBet)

Waller has been the one consistent player in the Raiders lineup this season and he enters this game with 34 catches over his past four contests. Hes turned 45 targets into 537 yards over his last four games.

Jerry Jeudy OVER 3.5 Receptions +120 (DraftKings)

Jeudy to catch four balls at plus money is totally worth a shot. Jeudy had two or fewer catches in four straight games before last weeks six-catch game. The rookie wideout had a career-high 15 targets from Lock last week and he caught four of his eight targets in the first meeting between these teams. I think well see a motivated Lock in this game as he looks for another chance as Denvers starter in 2021.

Continued here:

Gambling: One prediction for a Denver Broncos victory, and by a little bit on the over - Colorado Springs Gazette

With Week 17 of the NFL wrapped up, its truly time to dive into the NBA and not look back. The empty arenas have caused the scoring differential in the NBA to be wider than ever this season, which has caused Vegas to react as such. Its our job to take advantage of this, as we know things will normalize as the season goes on.

Below are my three favorite early bets to lock in for Mondays NBA slate. Keep in mind that lines will shift.

Oklahoma City Thunder (+8) at Miami Heat (-110, PointsBet)

Sure, the Thunder are not going to be a playoff team, but theyve proven that they have the ability to hang around for four quarters, as evident by them not only covering a 7-plus point spread against the Magic last game, but winning the game. On top of that, including games that Jimmy Butler has been active, the Heat are only averaging 0.8 more points per game than the Thunder. I would bet this up until +6.5.

New York Knicks at Atlanta Hawks over 222.5 total points (-105, PointsBet)

Dont look now, but the Knicks have reason for optimism this season, as theyve beaten the Bucks by 20-plus and have avoided being blown out in most games this season. The Hawks, on the other hand, have even more reason to be optimistic. With both offenses playing well and very little defense being played, the 222.5 total will surely rise, as the Hawks are running at one of the top paces in the league and are averaging 120 points on their own.

Boston Celtics (+3) at Toronto Raptors (-110, William Hill)

Both of these teams have been struggling in individual facets this season, so the 3-point spread feels accurate, but I think that the Celtics are the better team. Not only are the Celtics averaging over five more points per game than the Raptors, but theyre also top-12 in the NBA in offensive efficiency, while the Raptors sit at 27th. Even on the second half of a back-to-back, Im all over Boston.

Read this article:

Gambling: Time to jump into betting on the NBA and not look back - Colorado Springs Gazette

GRAND RAPIDS, Mich. (WOOD) Officials with the Michigan Gaming Control Board expect online gambling to launch sometime in the middle of next month.

Gov. Gretchen Whitmer signed a bill legalizing sports gambling in Michigan into law in December 2019, allowing casinos to open sportsbooks. But online gaming needed its own set of regulations and licenses.

The legislatures Joint Committee on Administrative Rules approved those regulations on Dec. 1 and waived the 15-day waiting period, allowing casinos and the MGCB to get to work immediately on licensing. So far 15 casinos and their vendors have been approved, including Gun Lake Casino in Wayland and the Four Winds Casinos across southwest Michigan. Firekeepers Casino in Battle Creek is still waiting for its license.

Experts forecast online gambling will generate more than $90 million in revenue in its first year. The commercial casinos MGM Grand Detroit, Motor City and Greektown will pay an 8.4% tax on online gambling revenues: 4.62% goes to their local jurisdiction (Detroit) and 3.78% goes to the state, which is allocated to the School Aid Fund.

Currently, all three commercial casinos have sportsbooks up and running. Twenty of Michigans 23 tribal casinos have deals in place for sportsbooks and have either opened or are in the process of opening.

More here:

Online gambling in MI expected to launch mid-January - WOODTV.com

If there was one trend that ruled 2020 in the gambling industry, it was a focus on online gambling. The pandemic closed or limited operations for casinos around the world and pushed gambling online. Investors followed suit, bidding stocks with even a whiff of internet gambling exposure higher.

As we look forward to 2021, it's worth looking at which stocks performed well in 2020 and whether they'll keep winning in the future.

Image source: Getty Images.

There are a lot of companies that have exposure to online gambling, but only a few that generate significant revenue in the space. At least for now, that hasn't seemed to matter, because investors are focused on who can grow in the future.

DraftKings (NASDAQ:DKNG) went public this year through a special-purpose acquisition company (SPAC), and it's been a market favorite because it's 100% focused on online betting. But the biggest winner was Penn National Gaming (NASDAQ:PENN), which acquired part of Barstool Sports in an effort to use the brand in its online gambling efforts. Despite barely being operational in the U.S., investors think Barstool and Penn have a bright future in online gambling.

DKNG data by YCharts.

Everi (NYSE:EVRI) and GAN(NASDAQ:GAN) are service providers that have pivoted to online gambling services, including for some of the biggest names in the industry. But Everi's core business is losing money with casinos closed, and GAN's stock trades for a whopping 13 times sales as it tries to build out an online gambling business.

MGM Resorts (NYSE:MGM) and Caesars Entertainment (NASDAQ:CZR) are the legacy companies betting big on sports betting, with MGM expanding a joint venture called BetMGM with online betting company Entain, formerly GVC International. Caesars recently agreed to acquire William Hill, its online gambling partner in the U.S. that will also give it access to Europe.

These companies are worth tens billions of dollars combined but still generate very little revenue from online gambling. For perspective, New Jersey, the country's most mature online gambling market, saw $803 million in bets on sports in October 2020 and for the year has now passed $4 billion in bets. Revenue to sportsbooks was $58.5 million in October, so if the bet-to-revenue ratio holds, all online sportsbooks in New Jersey generated about $291 million in revenue through October. For perspective, New Jersey casinos generated $3.5 billion in gambling revenue in 2019, so sports gambling is still a small business.

There are only 14 states in the U.S. that allow any kind of online gambling, a number that's growing very slowly. Some allow betting on sports while four permit online casinos and five allow online poker. In other words, the market has lots of room to grow, but is as of today it's very limited.

Given the boom in online gambling stocks this year, Wall Street certainly thinks online gambling will be a big part of the industry long-term, even if that projection isn't a reality today. The rate of expansion may tell us a lot about whether these stocks will keep up their performance or disappoint investors.

Speculation drove the online gambling industry in 2020 and in 2021 the rubber hits the road. Physical casinos will likely open fully nationwide, and that could be a headwind if people prefer to bet in casinos. Based on stock prices, it seems that investors are also expecting states to expand online gambling, and that's proven to be more difficult than the industry has thought.

If regulations don't open online gambling in more states and existing markets don't continue to grow, some of these growth stocks could be in for a disappointing year. I can't help but think this is an area where the stock market has gotten ahead of reality, and next year's financial results will tell us whether the bullish or bearish view on the industry is right.

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Online Gambling Caught Fire in 2020 - The Motley Fool