Boyd Gaming saw revenues reach a massive $1 billion in its third-quarter of the year, with the FanDuel stake sale boosting earnings.In the third quarter of 2024, the revenues sat at $961.2 million. As for the net income, the third quarter period of this year saw a reported net income of $1.4 billion which equates to $17.81 per share. In 2024, for the same period, the company reported $131.1 million in net income.In its third quarter results, the company says its net income was impacted by a $1.4 billion after tax gain from the sale of the companys equity interest in FanDuel, and $65.1 million in non-cash, pretax long-lived asset impairment charges.In the summer, it was confirmed that Boyd Gaming had completed its agreement to sell its 5% equity share in FanDuel to Flutter. The transaction means that Flutter now has full ownership of the US sports betting brand.The company still owns 28 gaming properties across ten states.Boyd Gaming sale of FanDuel holding took place this summer ahead of Q3The company president and CEO, Keith Smith, explained the figures: During the third quarter, our Company continued to achieve revenue and Adjusted EBITDAR growth after adjusting for our recent FanDuel transaction.These results were driven by year-over-year growth in play from our core customers, improving trends in play from our retail customers, our efficient operations, and our ongoing capital investment program.As a result, we saw healthy growth in gaming revenues across all three property operating segments during the quarter. At the same time, we continued our balanced approach to capital allocation, returning $175 million to shareholders during the quarter while maintaining the strongest balance sheet in our Companys history.In all, we are encouraged by the strength of our business and remain well-positioned to continue creating long-term value for our shareholders.Boyd Gamings adjusted earnings for the third quarter of 2025 were $139.1 million, compared to $139.3 million for the same period in 2024. Total Adjusted EBITDAR was $321.8 million in the third quarter of 2025, versus $336.6 million in the third quarter of 2024. Results for the third quarter of 2025 reflect lower market-access fees as a result of the FanDuel transaction, the report states.Featured Image: Via Boyd Gaming Corporation on FacebookThe post Boyd Gaming reaches $1 billion revenues in Q3, report states appeared first on ReadWrite.

Duel Casino owner and infamous online personality Ossi Ketola, has caused another round of online drama after being banned on X, formerly Twitter. The Elon Musk-owned platform didnt provide a reason for the ban, but the platform also took down the @duel account, Ketolas business handle.In an announcement made on popular gaming chat app Discord, Ketola, who goes by Monarch online, claimed that We are under attack.He reasons that this comes just as Duel released 100% Return to Player (RTP) games. RTP is the percentage of cash thats returned on a win. For instance, 95% RTP on a dollar would net you 95 cents.The statement reads like a lot of those commonly found in online communities associated with Ketola. He mentions that he is fighting multiple Matrix attacks. The use of The Matrix as a metaphor for larger societal systems has been popularized by online figures such as Andrew Tate and others who encourage their audiences to break free from it.Screenshot of Monarchs October 2025 Discord post claiming account bans were part of a coordinated Matrix attack.Ketola writes: We are a threat to their profits. Looks like they have declared war. More updates on the situation later, fighting multiple Matrix attacks.Make no mistake, we are at war. Do your part. Sound the alarm. They can take me down, but they cant take down the mission.Traditional crypto casinos WILL lose BILLIONS of dollars due to Duel, I promise you that much. They can keep banning accounts, but they cant stop all of you from spreading the word.Who is Ossi Ketola?Ossi Ketola is an internet personality who became known for running a Counter-Strike skin gambling site, CSGOEmpire.He has since gained notoriety for his online behavior, as well as his recent entry into the poker world.Monarch claims hes under attackScreenshot from a Kick livestream showing Monarch typing a message about being poisoned and deplatformed while addressing viewers.On a stream on Kick, a platform affiliated with Stake.com, Ketola claimed that someone may have paid to have him banned. In a Notepad message displayed during the broadcast, he wrote:///They/// not only poisoned me with COVID and deplatformed me, but also sabotaged my microphone.The use of triple slashes (///They///) has been associated online with antisemitic symbolism. This phrasing is consistent with controversial language Ketola has used in past online statements.During the stream, Ketola appears seated in front of the camera and says, I need to find different solutions. I dont like being out of Twitter, I need a voice, I need a platform.While Ketolas account was reportedly suspended for violating Xs terms of use, the specific reason for the suspension has not been confirmed. Under Elon Musks ownership, X has generally taken a more limited approach to content moderation compared to previous management.How did Ossi Ketola make his money?Ketola has made his money through the video game Counter-Strike by providing skin gambling through CSGOEmpire. He also plays poker and is active in the streaming world. However, a good amount of his money now comes from his gambling business, Duel.From niche online community to the mainstreamRecently, Ketola has broken from the niche online community he has built around himself and breached into the mainstream. His record-breaking poker games, wherein he won a $12.7 million prize at the Triton Poker Super High Roller Series Jeju. He also lost to poker legend Daniel Jungleman Cates in another eye-popping game, where Ketola lost $15 million.However, he got his start through the video game Counter-Strike: Global Offensive. Succeeded by Counter-Strike 2 in 2023, the game has various skins for weapons and items featured in the game. Using the tools available from developer Valve, which also owns the Steam storefront platform, Counter-Strike now has an economy worth $5 billion.Ketola introduced CSGOEmpire in 2016, which allows players to gamble with these skins. CSGOEmpires X account was also caught up in the ban wave, with Ketolas main business now without its most prominent social media platform.Valve recently introduced an update to Counter-Strike 2, which allows players to trade up for rarer items. This has since tanked the games economy, wiping out over a billion dollars, leaving it at the $5 billion it is now.What is Ossi Ketolas net worth?Nobody knows exactly how much Ossi Ketola is worth, but its safe to say its a lot. Some analysts estimate his net worth to be between $25 and $50 million, thanks to huge poker wins such as the $12.7 million hand against Bjorn Li and the $10.99 million match with Alex Foxen.But its not just poker money keeping him afloat. Ketolas various business ventures reportedly far outweigh his poker earnings, which helps explain how he manages to handle the wild ups and downs of high-stakes games, including more than $17 million in reported losses.ReadWrite has reached out to X for comment on the bans.Featured image: Ossi Ketola via KickThe post Who is Ossi Ketola and what is his net worth? Duel Casino owner claims X accounts banned appeared first on ReadWrite.

The UK government is preparing a sweeping overhaul of gambling taxes in its Autumn Budget 2025, which could shake up one of the countrys most profitable yet controversial industries.Chancellor Rachael Reeves has been steadily increasing pressure on gambling operators, with reports from the Office for Budget Responsibility suggesting the new measures could raise around 4 billion ($5 billion) in revenue.What gambling measures are being proposed in the Autumn Budget 2025?UK gambling companies are bracing for a major shake-up. Reeves has hinted that General Betting Duty onsports betting, online or in betting shops, excluding horse racing,would rise from 15%to as high as 30%, while online slot taxes might climb from 20% to 50%. She says the goal is to ensure that gambling firms pay their fair share.'I do think there's a case for gambling firms to pay more,' said the chancellor when asked if she would consider increasing the taxes gambling firms pay'They should pay their fair share of taxes, and we'll make sure that that happens' pic.twitter.com/iNPyki9EVN ITVPolitics (@ITVNewsPolitics) September 29, 2025What has led to this potential increase?The 2024 Budget, submitted by Reeves, the first from her party in over fifteen years, avoided hitting gambling firms in their pocket. Instead, it laid the path for reform, with lobbyists attempting to dissuade members of the UK parliament who were spearheading these proposed changes.In the lead-up to the 2024 budget, UK gambling companies saw their shares take a hit, cutting more than 2 billion from the value of some of the biggest names in the industry. Entain, which owns Ladbrokes, dropped 7%; Evoke, the parent company of 888, slid 12%; and Flutter, which owns Paddy Power, was down 5.7%. These market reactions highlighted investor anxiety ahead of the last years budget. Even so, leaders from the major betting brands have been speaking out more openly as the 2025 budget approaches.A proposed tax increase could hit bookmakers hard, raising their rate from 15% to 21% to match what online casinos and gaming sites pay. Industry insiders warn the move could be devastating for sports like horse racing.The Betting & Gaming Council (BGC) published a statement to the Treasury, saying Ministers have been clear in public and in parliament that they would be meeting with the relevant stakeholders as part of the consultation on tax harmonisation proposals. That includes the BGC, which represents companies employing over 100,000 people and a sector enjoyed safely by millions of customers each month.A key influence in the current debate is a report by the Institute for Public Policy Research (IPPR), which linked gambling-related harm to higher child poverty rates.Gordon Brown, who held the position of Chancellor of the Exchequer, is a leading figure with the IPPR, and he has suggested the 4 billion ($5 billion) void could be filled by the gambling reform and tax increases.Speaking to the Guardian in August, he said: Time to tax the highly profitable gambling industry to pay for action on child poverty. Gambling will not build a Britain for the future, but children free of poverty will.Time to tax the highly profitable gambling industry to pay for action on child poverty. Gambling will not build a Britain for the future but children free of poverty will. https://t.co/Foqzx47yza Gordon Brown (@GordonBrown) August 6, 2025In the wake of Brown and the IPPRs analysis and comment, 101 Labour MPs signed a letter to reform gambling, with taxation increases the key desirable to reduce child poverty.The ministers involved shone the light on theIPPR research saying that if gambling was reformed in the United Kingdom, 500,000 children would be lifted out of poverty.Industry response from gambling operators over Autumn Budget 2025 proposalsBGC chief executive Grainne Hurst was less than complimentary of Browns decision to target gambling firms, seeing it as hypocritical as the former Chancellor had been integral to the reform process previously.Long since hailed as a masterstroke, his interventions raised more tax, secured more jobs, and created one of this countrys global business success stories, said Hurst.The British Horseracing Authority (BHA) has been active in addressing the issue of gambling reform in the United Kingdom at every party conference for the biggest parliamentary groups.BHA Chief Executive Brant Dunshea warned that higher taxes could have a catastrophic impact on British racing and related jobs.He said the sport is already in a precarious financial position and research has shown that a tax rise on racing could be catastrophic, for jobs related to the hospitality, racing and retail environment.UK job losses could be a result of these tax increasesWilliam Hill, owned by Evoke plc under 888 Holdings, was vocal about the possibility that reform and incoming taxation hikes could have on their physical retail locations.The companys share value has dropped by 30% across the financial year, and it publicly stated that a possible 200 locations would close, causing 1,500 job losses.Betfreds co-founder Fred Done called the proposed tax increases the greatest threat the gambling sector has seen in over half a decade.He spoke of the perils that physical locations would face in a BBC interview, saying, We would have to close it down. Im talking job losses. Were talking probably 7,500.'In job losses we're talking probably 7,500'Fred Done, who set up Betfred in 1967 with his brother, has warned all the firm's 1,287 shops could disappear from the high street if Chancellor Rachel Reeves hikes taxes on gambling firmshttps://t.co/tyGtQrRRbl pic.twitter.com/xGkg7ttLeu BBC Breakfast (@BBCBreakfast) October 19, 2025As the Autumn Budget approaches on November 26, 2025, Labour faces a key test of its economic strategy. The planned gambling tax rises could redefine the line between public welfare and private enterprise and determine whether the partys promise of fair growth can withstand fiscal reality.Featured image: CanvaThe post Autumn Budget 2025: UK gambling firms brace themselves for sharp tax rises what to expect appeared first on ReadWrite.

Boyd Gaming Corporation has received a fresh set of lawsuits in response to its recent major data breach.The news of the court action originates from the U.S. District Court for the District of Nevada, where former employees and those affected by the breach have taken legal action, as their data may have been subject to public disclosure without their consent.Boyd Gaming faces four new data breach lawsuitsFour new lawsuits have come to the attention of the global gaming and entertainment provider, including a former employee.Scott Levy registered his case in Nevada, stating that the attack exposed both former and current employee data, including information such as social security numbers.This serious lapse in the companys digital framework has caused chaos with investors and partners as Boyd scrambles to manage the fallout. As we reported, at the time of the breach, the company posted a Securities and Exchange Commission (SEC) filing.Boyd stated in the filing that it has determined that the unauthorized third party removed certain data from the Companys IT systems, including information about employees and a limited number of other individuals.Levy and several former and current employees of Boyd have taken court action seeking financial restitution. His legal counsel argues that Before the data breach, the private information of plaintiff and the class was exactly thatprivate. Not anymore. Now, their private information is permanently exposed and unsecure.Levys case has been assigned to Honorable Judge Gloria M. Navarro, and Grayson Wells and John C. Roberts of Stranch, Jennings & Garvey, Pllc, and Raina C. Borrelli of Strauss Borrelli PLLC, and Nathan R. Ring of Reese Ring Velto PLLC will be representing his defense.MGM Resorts offers Boyd supportJohn Branden Newman, the Chief Technical Officer for MGM Resorts, offered his assistance, and the Nevada Gaming Commission backed the gaming operators line of support.Newman had been in charge of the digital systems at MGM when a similar attack hit in 2023, so he has offered a steady hand who has triaged a similar massive breach.Its obviously unfortunate that a lot of the players in the industry and various industries actually are still getting hit by these same types of attacks, Newman stated.Featured image: Canva.The post Boyd Gaming lawsuits pile up in the wake of data breach appeared first on ReadWrite.

A California mansion has been raided several times to discover an illegal casino, drug activity, and no less than 15 children.Arcadia police in California have completed several raids on Pacific Place, a gated complex of office buildings and warehouses and found evidence of illegal gambling, drug activity, and 15 children, most of them toddlers. The raids took place four times across three years, with authorities finding evidence of new crimes each time, including an illegal casino with electronic gambling tables. The police seized these machines on December 9, 2021.The owner of the property and father of 22 children, 65-year-old Guojun Xuan, told police that all but two of the children were born to surrogates. The presence of so many young children made Kollin Cieadlo, a lieutenant for the Arcadia Police Department, and his detectives suspect that theyd uncovered a human trafficking ring. Xuan and his partner, 38-year-old Sylvia Zhang, told police they simply wanted to have a large family, according to LA Times. No charges have been filed against the couple.Uncovering an illegal casinoThe investigation was sparked when Arcadia police asked the FBI to look into Xuan and Zhang after learning they had transferred money to surrogates and traveled across state lines to collect the children. This led to the discovery of illicit drugs on a property belonging to Xuan in El Monte, California, which he was renting out.Further evidence led to El Monte authorities filing a civil abatement claim against Xuan and others connected to Pacific Place, laying the groundwork for a series of police raids that would uncover evidence of alleged illegal gambling and drug manufacturing. El Monte authorities claim that they found evidence at Xuans property of a well-established, sophisticated and persistent criminal enterprise, including trash bags full of drugs, guns, and counterfeit currency.While Xuan and Zhang have not been charged, local authorities are reviewing evidence to potentially charge them with child abuse, with Arcadia police asking other agencies to assist in reviewing several weeks of video.Our intention is 100% to get charges filed, Cieadlo said.At the moment, the Los Angeles County Department of Children and Family Services has taken custody of the children, with some reportedly already finding homes via foster care.Featured image: LA TimesThe post Arcadia police raided a mansion to find an illegal casino, drug activity, and 15 young children appeared first on ReadWrite.

Connecticuts Department of Consumer Protection has shared a warning from Brightstar that more than 500 residents are affected by a data breach.Brightstar Lottery Group, also known as IGT, has notified nearly 550 Connecticut residents that their information has been compromised in a recent data breach, warning them via the states Department of Consumer Protection. The gaming and lottery technology vendor said that those most impacted are Brightstar employees.The company is based in Rhode Island, and the breach was limited to Brightstars corporate systems. Although it did not involve the lottery systems and didnt interrupt any day-to-day operations, some employee data is thought to be affected. The details of what information may have been accessed has not been made public.Next steps from BrightstarThe company has told affected individuals that no further action needs to be taken immediately. However, the advice is to keep a close eye on personal accounts, although Brightstar has hired a third party to provide identity monitoring for those affected for two years.Affected consumers do not need to take any immediate action, wrote the Department of Consumer Protection in a statement. You should review your personal records and utilize free credit report monitoring. Brightstar has hired Kroll to provide identity monitoring for 24 months. Affected consumers DO NOT need to pay for this service.The identity monitoring services paid for by Brightstar include credit monitoring, fraud consultation, and identity theft restoration. Anyone affected should expect to receive a letter from the company that will include instructions on how to activate their free credit monitoring services.Its important to be vigilant even in the receipt of this letter, with Brightstar asserting that it would not ask for any personal information or money to activate this service. Any requests for personal or financial information or payment are likely fraudulent.If you receive a letter and are unsure if it is legitimate, residents are advised to contact DCPs Gaming Division at DCP.Gaming@ct.gov.This comes on the heels of a similar data breach at Boyd Gaming, and another in the UK for Betfair and Paddy Power over the summer.Featured image: Wikimedia Commons, licensed under CC BY 4.0The post Brightstar Lottery warns over 500 Connecticut residents could be affected by data breach appeared first on ReadWrite.

The Australian capitals Star Sydney casino has had its license suspension extended for another six months.The NSW Independent Casino Commission (NICC) has extended the suspension of the Star Sydneys casino licence for another six months, after a similar extension was made back in March. That means the suspension will be in place until at least March 31, 2026.The NICC also confirmed in an open letter on September 25 that it would extend the term of The Stars manager, Nick Weeks, who will continue to have oversight of casino operations. NICC Chief Commissioner Philip Crawford said in the announcement that there was still too much uncertainty surrounding The Star to consider reinstating its casino licence at this time.The NICC considers it appropriate to continue with the current arrangement so it can better assess the effectiveness of important remediation work and await the outcomes of other pressing financial matters concerning The Star, Mr Crawford said. The NICC understands the many challenges The Star is facing and is closely monitoring The Stars progress as it works to prove it is capable of regaining its casino licence.Star Sydneys response to the extended suspensionStars Group CEO and managing director Steve McCann has responded to the decision saying that the company is determined to return to a safe and compliant running of the business.We acknowledge that there is more work to do, but we remain committed to delivering on our remediation plan to support the safe and compliant operation of our business, said Mr McCann. The Star is committed to continuing its transparent and constructive relationship with the Manager, the NICC and the New South Wales Government, and demonstrating to all its stakeholders its suitability as a licence holder as soon as possible.The casino has been operating under oversight since its license was first suspended back in October 2022, when the NICC ruled that the company was unsuitable to hold a casino licence. This comes after the Star Entertainment Group has been facing serious financial obstacles as well.Featured image: Wikimedia Commons, licensed under CC BY-SA 4.0The post Star Sydneys casino licence suspension extended for another six months appeared first on ReadWrite.

For several decades, getting a new pair of glasses meant booking an appointment with an optometrist and browsing from their limited frame options in-store. Technology has completely changed this experience, making it more convenient to get new frames.Customers can now buy glasses online with only a few clicks and have access to more options at more affordable prices.This preference reflects a broader shift that retail is experiencing across industries. With new tech in augmented reality, artificial intelligence, and more secure e-commerce platforms, shopping for new glasses is no longer confined to the eye doctors office.The Rise of Online Glasses ShoppingThe entire eyewear market has been booming in recent years, likely due to the convenience of purchasing new frames online. The average consumers behavior has also changed. Younger generations, which comprise a large portion of the consumer base, prefer and expect convenient, affordable options that are easily accessible online. After the COVID-19 pandemic, many became accustomed to finding and ordering products online, accelerating this trend. What was once a small market has now become mainstream, with millions turning to online platforms for their vision needs.How Technology Enhances the Online Glasses ExperienceAugmented reality is one of the many tools that are enhancing the online shopping experience. AR allows shoppers to see how frames look on their faces in real time. It minimizes the hesitation that most customers have when online glasses shopping: what if it doesnt look good? This technology bridges the gap between digital and physical retail, allowing customers to get the benefits of both.Artificial intelligence is another way customers benefit from getting glasses online. AI-powered algorithms analyze your face shape to recommend the best frames. The personalized suggestions cut through overwhelming options available, creating a customized experience for each shopper, without needing in-person assistance.Benefits of Buying Glasses OnlineOnline glasses retailers usually have more options to choose from than those available at a local ophthalmologists office, and often come at a more affordable price. Some of the most significant advantages include:Wider Selections: Thousands of frame options are available online, compared to the limited inventory in most physical stores.Cost Savings: Online retailers frequently offer frames at a lower price because of reduced overhead costs. They also have discounts, bundle deals, and promotions that are rare in stores.Accessibility: People in remote areas or without easy access to an optometrist benefit from delivery to any location, without the long drive.Positive Reviews: Verified customer reviews and high ratings foster trust, making customers more confident in their purchasing decisions.Trust and Security With Online ShoppingTrust is one of the most important elements in every industry, especially when purchasing prescription-grade products. Advancements in encrypted, secure payment systems ensure that your sensitive data stays safe from browsing to final purchase.How Tech is Shaping the Future of GlassesTechnology continues to push each industry to new limits. With several smart glasses hitting the market, its clear to see that technology is changing every aspect of peoples lives. Some future possibilities include:AI-driven predictive shopping, where the algorithm anticipates what your preferred frames look like and when you might need a new pair.Immersive VR stores that offer an experience that feels exactly like browsing in person.Smart glasses that blend prescription eyewear with connectivity to your smartphone for health monitoring or hands-free notification monitoring.The eyewear industry, like many others, is well-prepared for this shift. The future prioritizes digital-first options for customers, allowing them to have more choices than ever before with ultimate convenience.FAQsQ1: How accurate are the virtual try-on tools for frames?Virtual try-ons utilize facial mapping technology to provide an accurate representation of frames on your face; however, its essential to note that the size and position may differ in person.Q2: Is it safe to order prescription glasses online?Yes. Reputable retailers follow strict regulations to ensure that prescriptions are accurate. Encryption is used for online payments and to protect personal information.Q3: What advantages do online glasses retailers offer?Online glasses retailers often have wider selections, lower-priced frames, and are more convenient for customers because they require no appointment or transportation.The post Eyewear Goes Digital: Shopping for Glasses Just Became Easier and More Modern appeared first on ReadWrite.

A gambling ring that included the use of livestock to fight for financial gain has been broken down in India.The report published by the Hindustan Times showed that seventy-five individuals had been arrested in connection with illegal and cruel animal gambling in the Konkan division of Maharashtra.The Pali Police conducted the arrests in the Indian region at Tiger Goat Farmhouse in the small town of Gondav. The police report also included the seizure of assets, including vehicles, gambling paraphernalia, and $150,000 worth of cash.Superintendent Aanchal Dalal said of the events, Around four rams were made to compete and hit each other until one of them collapsed. The audience would bet on the strongest ram.Thousands wagered on an animal cruelty betting ringThe alleged wagers on the events at the farmhouse ranged from smaller bets of $1 to $50, and the Pali Police reported that a WhatsApp conversation was also taking wagers.The authorities mentioned that up to thousands of dollars could be wagered on winning animals in the barbaric, illegal gambling contest.The contests pit the animals against one another until they can no longer participate, being coerced to fight until they collapse. Sadly, Dalal concluded, Once a ram has participated, it holds no further value.The actions of the gambling ring breached Indias Maharashtra Prevention of Gambling Act, 1887, and the Prevention of Cruelty to Animals Act, 1960.Animal cruelty gambling ring closed downThe Pali Police were supported by local officers from the crime investigation unit based in Raigad, Alibaug. Two suspects, Imran Qureshi from Kurla and Atik Shaikh of Pune, have evaded custody.The police report stated that both men managed to use the cover of a wall to outrun the local law enforcement, and they remain key to the conclusion of the animal cruelty case, which has also impacted neighbouring states.The rise of gambling rings surrounding animals has reportedly sprouted in Delhi, Kashmir, and other major locationsthe breeding of animals for the purpose of animal cruelty and illegal gambling is on the rise in India.One police officer stated that Locally, such rams are also sourced from Bhiwandi and Kalyan, usually when the sheep are around six months old and weigh about 30-40kg.Image: Pexels.The post $150,000 seized in Indian livestock gambling ring bust appeared first on ReadWrite.

Latvia is undergoing an overhaul of its gambling system ahead of a stringent budgetary reform in the nation before 2026.The Finance Minister, Arvils Aeradens, and the Director of the Lottery and Gambling Supervision Inspectorate (IAUI), Signe Birne, have been working in tandem to produce updated legislation ahead of a parliamentary review in April 2026.Latvia undergoes gambling overhaulMinister Aeradens has confirmed that the State Revenue Service (SRS) will incorporate the IAUI in a move that brings the regulation of gambling and operator licenses under state supervision.Aeradens has been the nations finance minister since December 2022 and previously held the Minister of Economics role from 2016 to 2019.He said as part of a briefing, The integration of gambling oversight (currently IAUI) into the State Revenue Service will allow us to establish unified management faster, make better use of our resources and deliver higher-quality services to the public.The move is intended to shorten the tether between the state and approved third parties to impact the key priorities of the current government as the nation gears up for record military spending in 2027 and 2028.The draft budgetary changes, which are to take effect in 2026, are to be submitted by the Cabinet of Ministers no later than October 14. The nations parliament (Saeima) will give its approval and review the following day.These changes, coming into effect on January 1, are reported to include sweeping reforms that the current Prime Minister, Evika Silia, has identified as her top priorities. They include an increase in gambling taxation and duty on alcohol and tobacco.The changes impacting gambling regulation in the nation primarily involve taxation. Gaming machines are expected to see a steady increase, from a projected 6,204 to 7,440 ($7,319 to $8,770).Table gaming will see an increase in taxation from 33,696 ($39,720) to 40,440 ($47,665), and there will be a blanket 3% increase on telephone wagering, a 2% increase on bingo, and a 3% increase on digital gaming.Silina stated security, support for families, economic growth, and reducing bureaucracy, bringing public administration closer to the people, were her cabinets top priorities.Featured image: Canva.The post Latvia overhauls gambling reform ahead of 2026 budget appeared first on ReadWrite.

Casino operator Boyd Gaming has shared details of a data breach that saw bad actors gain access to its systems.US-based Boyd Gaming has disclosed that it was the subject of a data breach, where attackers gained access to its internal systems. Although data was stolen, its not thought to affect customers, with the data largely being employee information and data belonging to a small handful of other individuals.The details of the breach were shared on September 23 when Boyd Gaming lodged a FORM 8-K filing with the Securities and Exchange Commission (SEC). The company made it clear its already working with external cybersecurity experts to respond to the attack and shore up defences, in the meantime, paid for by a cybersecurity insurance policy, with law enforcement made aware.While many of the details of the data breach are listed as unknown, the company did assert that the cybersecurity incident has had no impact on the Companys properties or business operations.Upon detecting the incident, the Company promptly took steps to respond to the incident with the assistance of leading external cybersecurity experts and in cooperation with federal law enforcement authorities, Boyd Gaming continued in the filing. The Company has determined that the unauthorized third party removed certain data from the Companys IT systems, including information about employees and a limited number of other individuals. The Company is notifying impacted individuals and has or will notify its various regulators and other governmental agencies as required.The effects of the data breachBoyd went on to note that it believes that the incident will not have a material adverse effect on the Companys financial condition or results of operations.Boyd Gaming is a US casino entertainment company that owns 28 gaming properties across 10 states and manages a tribal casino in northern California. The firm employs over 16,000 people throughout the country, reporting an annual revenue of $3.9 billion last year and asecond quarter revenue of $1 billion already in 2025.Readwrite has reached out to Boyd Gaming for comment.Featured image: Wikimedia Commons, licensed under CC BY-SA 3.0The post Boyd Gaming discloses internal data breach of employee information appeared first on ReadWrite.

Global betting brand FanDuel has announced a partnership with Delaware North for an exclusive agreement at the Mardi Gras Casino & Resort location in West Virginia.The Charleston regions biggest venue for entertainment and gaming will benefit from the deal between the hospitality giant and one of the leading lights in sports and betting in the United States.FanDuel and Dakota North announce partnership dealWe love working with FanDuel and are very proud to be partnered together in West Virginia, Delaware Norths Chief Interactive Gaming Officer Lee Terfloth said.Delaware North is known for catering to the biggest event contracts in global sports, with a reported half a billion guests across three continents. The location in Cross Lanes, West Virginia, also serves 150 hotel rooms, and the casino boasts slot machines, table games, poker, an online casino, and a greyhound track.FanDuels Business Development Senior Vice President Jonathan Edson said of the deal, Delaware North has been a respected name in gaming and hospitality for decades, and they are an ideal partner as we continue to operate in West Virginia.The deal does mention that FanDuel will continue to provide sportsbook offerings in White Sulphur Springs, West Virginia.This partnership represents the best of what Delaware North strives for, bringing trusted, innovative experiences to our customers and FanDuel is an incredible ally in that mission, concluded Terfloth.FanDuel active across the latter half of 2025FanDuel has been active in 2025 in launching new partnerships and exploring new ways to offer wagering to consumers. As we reported, CME Group and the gambling brand announced a new collaboration that enters the realm of prediction markets.At the time of the deal, Terry Duffy, CME Group Chairman and Chief Executive Officer, said, We have created this innovative partnership, which will operate a non-clearing FCM. Together, our event-based products will appeal to the growing public interest in markets, and we will provide education to attract a new generation of potential traders not active in derivatives today.The move comes as FanDuel has two new products to rush in the new NFL season, their Bet Protect program and a number of offerings via the companys new FanDuel Picks app.Bet Protect is similar to the substitute bet guarantees seen with the likes of BetFair, Paddy Power, and Bet365 that relate to a players injury.It adds an added incentive to bets when a player is removed from the field of play in prop and straight bets in the first quarter of an NFL game. These bets will still qualify officially as a loss, but the user betting on the outcome will receive a bonus bet to cover the injury.We're putting the power of the sportsbook in your hands this NFL season with YourWay Adjust lines Customize player props Instant odds on exclusive bets & More! https://t.co/mbH4oeQh1s | #NFL pic.twitter.com/O6PsUuu0pR FanDuel Sportsbook (@FDSportsbook) September 2, 2025The other big reveal from the betting titan is the FanDuel Picks app, which is a new peer-to-peer fantasy sports selection option for those who love the fantasy side of the NFL.Those registering to try the app for the first time and who stake $5, will, according to the advertisement, receive $60 in bonus credit to use the app.Just in time for NFL season, we are excited to bring fans a social way to engage with the sports and athletes they love with the launch of FanDuel Picks, said Rob Cullen, FanDuel Picks General Manager.The app is available in seventeen states, including; Alabama, Alaska, Arkansas, Georgia, Minnesota, Missouri, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Texas, Utah, and Wisconsin.Featured image: Mardi Gras Casino & Resort.The post FanDuel and Delaware North announce partnership in West Virginia appeared first on ReadWrite.

Hong Kong might be gearing up to change its sports gambling restrictions, as officials have endorsed a bill that could put basketball betting on the table. The Legislative Council of Hong Kong, or LegCo, gave the thumbs up as it wrestles with illegal gambling.This move would put the Jockey Club as Hong Kongs basketball sportsbook operator. Those who gamble through it will have a 50 percent duty charged on net stake receipts. Hong Kongs football betting follows a similar structure.Illegal gambling has risen in the wider Asia territory, with not only Hong Kong afflicted by it. As countries in the region typically have strict anti-gambling laws, more gamblers are turning to the ever-increasing ease of offshore operators. Some of these, like PH Love, have faked being accredited by other countries watchdogs.Meanwhile, Japan and Korea, have seen a rise in high-profile gambling controversies or citizens going overboard. As the culture is quite strict, it has resulted in celebrities careers being affected once caught. A lot of cases involve offshore gambling to get around restrictions.Illegal basketball gambling brings in HK$70 billion a yearBack in April, Hong Kongs illegal gambling problem had racked up over HK$70 billion ($9.3 billion), with some putting estimates as high as HK$90 billion ($11.6 billion) on basketball alone last year.At the time, the CEO of the Jockey Club, Winfried Engelbrecht-Bresges, said:The proposal is with them, and we have to see how they want to progress it. It will be interesting.Now, they lead, and we can only follow because its a policy decision. They asked us to give them a proposal, and we did.It is good that it has been recognised that there is obviously a significant illegal gambling problem.Hong Kong councillors weigh in on the voteNow, the council might actually let the vote through. So far, 77 different legislators have supported the bill, while two voted against and two abstained.Speaking to RTHK, a Hong Kong-based outlet, Secretary for Home and Youth Affairs Alice Mak said:And for public education on how to publicise the bad influence and effects of illegal betting and irresponsible gambling, we will launch a series of new measures, including public education and publicity measures focused on teenagers.An education sector representative, Chu Kwok-Keung, voted against the bill. He said:Over the past 20 years, we have seen a steady increase in the number of gamblers after football betting was legalised, with signs of such activities skewing towards the younger generations.Allowing basketball betting would simply offer another option of gambling.Featured image: Wikicommons, PexelsThe post Hong Kong basketball gambling gains support from 77 councillors appeared first on ReadWrite.

GambleAware, the United Kingdoms leading charity on prevention and treatment for gambling harm, has shared concern that statistics have doubled across five years.The statistics come from the charitys Annual Treatment and Support Survey, which has also brought the notes of worry from the established gambling care regulator.GambleAware concerned of rising gambling harm figuresThe organization works with the National Health Service and ministers, with no input from the gambling industry, save donations made to keep the charity running. The UK Charity Commission governs it, the overseer of all registered charities in Britain.This morning, we published our annual Treatment and Support Survey by YouGov which examines the use of and demand for advice, support, and treatment among people who gamble and those affected by someone elses gambling in Great BritainTo learn more:https://t.co/HIVlWY3LHL pic.twitter.com/5LIGlqQjNW GambleAware (@gambleawaregb) September 11, 2025The Annual Treatment and Support Survey for 2025 is part of a routine reporting process that examines key metrics in the gambling sector regarding its impact on consumers and their wider social circle.YouGov, the international reportage and analytics technology group, has helped GambleAware publish this key survey for the past five years.Kate Gosschalk, YouGov Associate Director, said: We are pleased to share the findings from the latest annual Treatment and Support Survey, a substantial online survey of around 18,000 people in addition to interviews with those who gamble.Key topics and takeaways from the GambeAware surveyThe key topics covered include an annual appraisal of gambling advertising, different forms of gambling, and those who have recently started gambling, and the impact that this recreational activity has on their financial, emotional, and well-being situation.The UK National Lottery is also scrutinized, as is the perception of prize draws and charity lotteries, in addition to online and traditional physical gambling stores.Treatment is also a key focus of the yearly survey, with GambleAware taking special interest in the usage and demand of treatment and support advice for those who gamble or are impacted by a gambler close to them.The survey showed that 1 in 3 (30%) adults who gamble and are experiencing any risk of problems are seeking professional treatment, support, or advice, compared to the same metric of 1 in 5 (17%) in 2020.While it is encouraging that more people have sought help, this rise may also point to a growing public health crisis. We are increasingly alarmed by how gambling is being normalised and how frequently peopleespecially young peopleare exposed to gambling across Great Britain, said Zo Osmond OBE, CEO of GambleAware.As we reported, GambleAware has launched a new app called the GambleAware Support Tool to help gamblers, primarily young gamblers, find ways to cut down or stop.We shared our new GambleAware Support Tool with the Lived Experience Council to learn how it couldve helped them. Looking to reduce or quit gambling? Try it today: https://t.co/NsfxyR8rVK pic.twitter.com/rCRSUXFatE GambleAware (@gambleawaregb) June 18, 2025Alexia Clifford, GambleAwares Chief Communications Officer, said, Whether individuals want to reduce, manage or stay gamble-free, the GambleAware Support Tool is here every step of your journey.Personal impact shown by the reportThere has, says the survey, been a 2% jump in figures of those who are in the blast radius of someone with a gambling issue. The percentage equates to 4,3 million UK residents and the report showed that 2 million children could be in a home or personal situation with someone with a gambling issue.According to the survey, children are also exposed to more mixed media that promotes gambling, with the survey highlighting that those who took part urged for more restrictions on gambling advertising in formats popular with children. 91% of those canvased supported a ban on gambling advertising on TV and in video games, and 90% agreed with a ban on social media.The golden arches of McDonalds were also mentioned by the report with the popular McDonalds Monopoly being seen as an influence on those who could be at risk of harm from gambling.The figures presented that more than a quarter (27%) of gamblers are estimated to be experiencing risk of developing gambling problems from the influence of prize draws, and around 1 in 9 (11%) are experiencing a form of problem gambling.Osmond added that there is a requirement for urgent preventative action to reverse the trend in upward figures.The CEO said, This must include tougher regulation of gambling advertising to stop gambling being portrayed as harmless fun. There should also be mandatory health warnings on all gambling ads, stricter controls on digital and social media marketing , and a full ban on gambling promotion in stadiums and sports venues to protect children and young people from harm.Featured image: CanvaThe post GambleAware shares concern as gambling harm figures double appeared first on ReadWrite.

Shawn Jay-Z Carter stepped up as one of the biggest supporters of the Caesars Palace Times Square proposal as public hearings wrapped up Thursday (September 11). The Roc Nation founder pitched the project not just as a major boost for the economy, but also as a cultural investment right in the heart of Manhattan.Jay-Z says Caesars Palace will help Times Square remain at the global center of entertainmentTimes Square is the heartbeat of New York, Carter said. With Caesars Palace Times Square, were investing in this community, creating real opportunities, and building on the legacy of the worlds crossroads.Our plan delivers generational economic growth. As weve seen in cities like New Orleans and London, this project will uplift local businesses, support Broadway, and ensure Times Square remains the global center of entertainment where culture and people thrive.A rendering of the proposed Caesars Palace Times Square casino, which would bring a luxury gaming and entertainment destination to Manhattans busiest hub. Credit: Image by Binyan StudiosThe plan, backed by SL Green, Caesars Entertainment, Live Nation, and Roc Nation, would bring a brand-new gaming and entertainment complex to Times Square. According to organizers, the project has already secured support from more than 300 groups, including local restaurants, hotels, labor unions, and Broadway insiders.At the two in-person hearings, hundreds of people showed up in support, with many more turned away once the room hit capacity. On top of that, thousands sent in written testimony to the Community Advisory Committee.SL Greens Executive Vice President, Brett Herschenfeld, said the response shows theres a real wave of excitement building around the project. We are proud that such a clear majority of New Yorkers have taken time to speak in favor of our project, both in-person and via email, he said.Caesars Palace Times Square has always been a community-first project, and it is gratifying to see such genuine excitement throughout this public input process. This project will be transformative for Times Square and Broadway.Reverend Al Sharpton also threw his support behind the project, linking it to bigger conversations about diversity and ownership. I remember as a young activist growing up how we would come to Times Square and dream of days that not only we see more of us on the stage but more of us in ownership, Sharpton said. We dont have DEI right here on Broadway. So if this casino is established, it will be the first time we will have an institution on Broadway that has diversity at an ownership level.New York casino expected to deliver big returnsDevelopers say Caesars Palace Times Square would deliver about $250 million in community benefits. That includes $81 million for a neighborhood public safety plan crafted by former NYPD Commissioner Bill Bratton, $15 million to build a civil rights museum, and $5 million for the Callen-Lorde Center for Excellence in Sexual Health.The proposal also promises big gains for Broadway, with an estimated $124 million in extra ticket sales each year and $100 million in direct support for Broadway unions. Overall, backers claim the project could generate $7 billion in direct tax revenue and $26.7 billion in local economic activity in its first decade.The vision for the development features nearly 1,000 hotel rooms, over 150,000 square feet of gaming space, a Caesars Sportsbook inside The 40/40 Club, spa facilities, and restaurants led by top chefs. A Broadway theater would also get a major renovation and fresh new life.Featured image: Binyan Studios / Caesars Palace Times Square / Joella Marano / CC BY-SA 2.0The post Jay-Z champions Caesars Palace Times Square casino as cultural investment appeared first on ReadWrite.

Kalshi rolled out its first player prop bets just in time for kickoff Thursday night, letting users wager on who will score touchdowns in Week 1 NFL games. First, next, anytime, or even multiple trips to the end zone are now fair game. Yardage and defensive stats remain off-limits, presumably because baby steps are safer when youre trying to keep the Commodity Futures Trading Commission from noticing youve wandered into sportsbook territory.The timing is no accident. Polymarket just got the nod from regulators to re-enter the US, and PredictIt continues chugging along with its more academic flavor of political markets. Even Underdog, better known for fantasy contests, announced a sports prediction market with Crypto.com. Kalshis touchdown props look less like innovation and more like keeping pace in a league suddenly crowded with rivals.Polymarket has been given the green light to go live in the USA by the @CFTC.Credit to the Commission and Staff for their impressive work. This process has been accomplished in record timing.Stay tuned https://t.co/NVziTixpqO Shayne Coplan (@shayne_coplan) September 3, 2025Self-certification made the move possible, that lovely process where an exchange essentially tells the CFTC were doing this unless you stop us and then waits to see if anyone in Washington is awake enough to care. No objection yet, which means betting on Deebo Samuel finding the end zone is officially a regulated activity in America.Not content with touchdowns, Kalshi also filed to self-certify parlays and multi-leg bets this week. That would let users mash together multiple outcomes into a single wager, moving one step closer to the state-regulated sportsbooks it insists it isnt copying.Polymarket, never shy about leaning on its community, took the same idea to Discord. Traders are now invited to submit parlay combinations of two to six existing markets. The top three to five ideas get put up for a quick vote twice a week, with winning suggestions actually listed on the site.Think of it as crowdsourced gambling innovation, or possibly just a way to outsource product development to the same people who think betting on rainfall totals is an investment strategy.So Week 1 of the NFL season doubles as Week 1 of the prediction market parlay wars. Kalshi is pushing touchdown props, Polymarket is dangling Discord votes, and the CFTC continues to play the role of slightly bemused chaperone.And while Kalshi was busy with touchdowns, Polymarket found itself caught up in the far more important matter of the Pentagon Pizza Index. After Trumps Oval Office announcement and his surprise decision to rebrand the Pentagon as the Department of War, speculation bubbled up that late-night pizza orders around the Pentagon were spiking.Whats on this weeks prediction marketsKalshiKalshi spent the first week trying to wedge itself into the national sports conversation without technically offering anything you could put money on. When Eagles defensive tackle Jalen Carter was tossed before the first snap for apparently spitting on Cowboys quarterback Dak Prescott, Kalshis social feeds lit up with commentary.No market, no bets, just a steady drip of viral-adjacent content. The effect was something like your accountant trying to crack jokes at the bar. Technically fine, but you can tell what they really want is for someone to say hey, maybe you should run a line on that.Did Dak spit at Jalen Carter first??? pic.twitter.com/B9tVwvdbTl Kalshi Football (@KalshiFB) September 5, 2025Where Kalshi had no hesitation was in politics. Ahead of Donald Trumps Oval Office announcement on September 3, the exchange posted a blockbuster $536,807 in volume on the question What will Trump say during the Announcement in the Oval Office originally scheduled for 2:00 pm ET?Kalshi traders bet heavily on Trumps Oval Office announcement, with markets predicting mentions of Biden, Putin, and drugs. Credit: KalshiAround 75% of bettors correctly predicted that hed mention Joe Biden, while 74% guessed he would rename the Pentagon the Department of War. He did exactly that, giving a rare moment where both Kalshis bettors and Trump himself delivered as advertised.Trump is expected to make an announcement in 5 minutes Our traders forecast Trump will say: "Biden" 75% "Department of war" 74% "Border" 66% "Russia" 63% "Ukraine" 56% "Emergency" 53% "Putin" 48% "Hoax" 43% "Maduro" 38% "Newsom" 28% Kalshi (@Kalshi) September 2, 2025As for the industrys own trash talk, that happened on social media, where Polymarkets William LeGate accused Kalshis CEO of directing staff to copy everything Polymarket does our moat is regulatory capture.When I joined Kalshi a year ago today, Tarek made their mission clear: copy everything Polymarket does our moat is regulatory capture.Today, that moat no longer exists.I couldnt be more proud of my decision to join Polymarket why copy the best when you can build it? https://t.co/W9jrfY5S1e LeGate (@williamlegate) September 3, 2025Kalshi affiliates promptly called the claim misinformation. Its a fight unlikely to move markets, but it does provide the spectacle of prediction exchanges wagering credibility in real time, one subtweet at a time.To boast of battle and then retreat is the mark of a hollow warrior. Sun TzuWill blocked me after posting blatant misinformation about @Kalshi (insulting to our hardworking team), + then hid my reply that called him out for lacking backbone.Streisand effect William pic.twitter.com/m2qGFU6rH2 Allan Maman (@allanmaman) September 4, 2025PolymarketPolymarket has been busy this week, though not with pizza. The so-called Pizza Index, a half-serious half-conspiratorial measure of national security tensions based on late-night orders to Pentagon-adjacent pizza joints, spiked in chatter after Trumps Department of War rebrand.The idea is if generals are stuck in the basement eating pepperoni at 2 a.m., something big is about to happen. According to the Pentagon Pizza Index site, which yes, really exists, things remain calm. No extra-large mushroom pies on the ledger, no missile strikes on the horizon.Confusingly, Polymarket itself does not offer an actual wager on pizza deliveries, though the Pizza Index site helpfully slaps a Polymarket plug-in on the page anyway. It is either synergy or sabotage, depending on whether you believe mozzarella is a leading indicator.Polymarket shows only a 6% chance Trump leaves office in 2025, despite more than $1.1 million in wagers. Credit: PolymarketWhere the action actually sits is in Trumps political survival. Polymarkets traders have already shoveled $1,106,191 into markets on whether he will resign by the end of this year. The odds sit at a measly 6%. The chance he bows out next year clocks in at 5%. The best Trump exit line available gives him a 10% shot of being gone by December 31, 2026, which in the world of prediction markets qualifies as optimistic.Meanwhile, out the door at the CFTC, Commissioner Kristin Johnson took a parting swipe at her colleagues, lamenting that prediction markets have too few guardrails and too little visibility.A fair point, though one suspects most bettors prefer it that way. After all, guardrails keep cars on the road, but they also make it harder to veer into oncoming traffic for fun.Featured image: Canva / GrokThe post Prediction Pulse: Trump announcement stirs market chatter as Pentagon Pizza Index stays flat appeared first on ReadWrite.

ESET researchers have uncovered a professional Chinese cybercrime group thats manipulating SEO to boost traffic to gambling websites.Nicknamed GhostRedirector by cybersecurity software company ESET, the bad actor is believed to have compromised at least 65 Windows servers located mainly in Brazil, Thailand, and Vietnam. The researchers claim that the group is using two custom-made tools: a passive C++ backdoor that theyve dubbed Rungan, and a malicious Internet Information Services (IIS) module that theyve named Gamshen.Rungan can execute commands on a compromised server, while Gamshen can carry out SEO fraud to manipulate search engine results. This can boost the page ranking of a website, which is being used by the crime group to increase traffic to gambling websites.Although it can only modify responses from Googlebot, so will not affect regular website visitors, the use of such a tool can damage host websites reputations in the long term.The researchers have found a series of other custom tools in use by GhostRedirector, as well as some familiar names in the world of cybercrime, like EfsPotato and BadPotato. These are thought to be used as back-ups if Rungan should fail, or to attack servers with higher security privileges.We believe with medium confidence that a China-aligned threat actor was behind these attacks, reads the statement from ESET.How to protect against cybercrime toolsTo protect against such tools, ESET recommends ensuring that organizations are using dedicated accounts, strong passwords, and multifactor authentication wherever possible. Those steps are especially important for IIS server administrators.This is because GhostRedirector and other cybercriminals can only deploy custom IIS tools on already-compromised servers. Blocking them from accessing them in the first place protects against custom malware like Rungan and, by extension, Gamshen.ESET also advises that admins should ensure that native IIS modules can be installed only from trusted sources and are signed by a trusted provider, ideally requiring two parties for successful installation.Featured image: UnsplashThe post Pro Chinese cybercrime group manipulates SEO to boost gambling websites appeared first on ReadWrite.

The Alameda Police Department has seized various items of evidence related to an illegal gambling investigation, including slot machines and cash.The Alameda Police Department followed up on reports of a possible illegal gambling den. After a detailed investigation, officers executed a search warrant at a home in the 600 block of Haight Avenue on September 2.The searching officers on the scene found and seized slot machines, table games, firearms, ammunition, cash, and drug paraphernalia. The individuals located at the scene were issued citations by the Alameda Police Department, while all the gambling equipment, alleged to be there illegally, was removed from the property.The Alameda Police Department remains committed to addressing illegal activity that impacts the safety and quality of life of our community, the department said in a statement shared to Facebook. This case remains open and is being followed up by APDs Investigations Unit.A video shared to Facebook as well showed the use of drones as part of the investigation, as well as shots of the machines, gambling paraphernalia, and cash that were seized as part of the operation. At the time of writing, the Alameda Police Department has not how many people were apprehended at the location, what the citations included, or how long the activity was suspected to have taken place.Crackdown on illegal slot machines across the USSimilar seizures of slot machines and illegal gambling equipment have been seized across the US, with nearly 250 slot machines seized in Florida last month. In a drug bust in San Francisco, several illegal gambling machines were seized, thought to be part of making money for a wider criminal enterprise.Those convicted of owning or running an illegal slot machine or gambling operation could face property seizures, steep fines, and up to five years in federal prison.Featured image: Alameda Police DepartmentThe post Alameda Police seize illegal slot machines and cash in ongoing investigation appeared first on ReadWrite.

Donald Trump Jr. has joined the advisory board of prediction market Polymarket, as well as investing in the company via 1789 Capital.President Donald Trumps son is backing Polymarket, both personally as a member of its advisory board and financially through an investment of an undisclosed amount via 1789 Capital, an investment firm where he is a partner.In a statement on the partnership, Polymarket noted that Trump Jr. brings decades of experience in forward-thinking business innovation and strategic perspective, with the company looking to grow its presence globally.The investment is set to go towards expanding the global footprint of the platform. As a prediction market, Polymarket offers real-time insights into a variety of topics, from politics and economics to culture and global events.https://twitter.com/shayne_coplan/status/1960377824793010489/This strategic investment marks a significant milestone for Polymarket. Our long-term partnership with 1789 Capital will help reinforce Polymarkets leading position as a trusted source of free, transparent and accurate market information in the U.S. and around the world, said Shayne Coplan, founder and CEO of Polymarket.We are proud to formally welcome 1789 Capital as a strategic partner and Donald Trump Jr. to our advisory board as we continue building our platform to reflect real-world sentiment, in real time, for all to see.Why partner with Trump Jr?Trump Jr. highlighted his desire to see Polymarket bring truth and transparency to everyone including the US.Polymarket is the largest prediction market in the world, and the US needs access to this important platform, said Trump Jr. Polymarket cuts through media spin and so-called expert opinion by letting people bet on what they actually believe will happen in the world. I am pleased that 1789 Capital is investing in Polymarket and am honored to join the companys advisory board.Those sentiments around free expression and truth are echoed by Omeed Malik, founder of 1789 Capital, saying: 1789 Capital looks to invest in companies that are entrepreneurial, innovative, and demonstrate great potential for growth. Polymarket meets each of these criteria. Polymarket stands at the intersection of free expression and financial innovation by empowering individuals with real-time truth in a world clouded by noise, and we are proud to support its vision.Polymarket recently completed the $112 million acquisition of QCEX, a CFTC-licensed exchange and clearinghouse, which saw it cement its place in the US market. Launched in 2020, Polymarket is now the biggest prediction market globally, with $6 billion worth of predictions made in the first half of 2025.Featured image: Wikimedia Commons, licensed under CC BY-SA 2.0The post Donald Trump Jr. joins prediction market Polymarkets advisory board appeared first on ReadWrite.

Brazils Permanent Subcommittee on Sports Betting Regulation has stressed that greater focus must be placed on the massive revenue losses to the illicit black market.In recent days, a public hearing in Congress detailed that the underground gambling sector is believed to generate around R$35 billion ($6.4 billion) per year. That is thought to equal around half of all online gambling activity in Brazil.There was a consensus at the hearing that the primary challenge facing the South American nation was not the regulated gambling industry, but the proliferation of illegal platforms, and the absence of any controls or player protections.As with all underground gambling networks, the government in Brazil does not receive any tax revenues from these operations.Participants at the hearing included the Brazilian Institute for Responsible Gambling (IBJR), together with lawmakers, industry representatives, and other authority bodies.Fernando Vieira, CEO of the IBJR, noted that the illegal markets revenue rivals the legal markets R$38 billion figure, causing the government to lose approximately R$10.8 billion ($2 billion) in tax revenue annually due to untaxed operations.The discussion placed great emphasis on the fact that illegal platforms operate without any oversight, age controls, or user protections, which only increases the risks of underage gambling, fraud, and other illicit activity.Last month, the IBJRpresented new data showing that the Central West region uses illegal betting platforms more than anywhere else.Call to suffocate the financial operations of illegal gambling operators in BrazilSince last year, authorities in Brazil are estimated to have blocked around 17,000 unauthorized websites, averaging over 1,700 per month.However, the Brazil Congress hearing was told that efforts must be increased to combat the illegal market, especially with the funds that are collected from the regulated sector.Deputy Caio Vianna, the President of the Subcommittee, who initiated the hearing, called for financial suffocation of illegal operators by targeting their payment methods, as shutting down websites alone is insufficient due to their ability to quickly relocate under another jurisdiction.There was also significant opposition expressed toward the proposed measure, currently under review in the Brazil Congress, to increase the tax on gross gaming revenue from 12% to 18%, which the IBJR warns could weaken the legal market and create further momentum for the growth of illegal platforms.IBJR chief Viera added, This is a turning point. If Brazil shifts just 5 percentage points from the illegal to the regulated market, the additional revenue could reach R$1 billion per year.The solution is not to hastily increase taxes, but rather to invest in oversight, monitor financial transactions, certify suppliers, and raise consumer awareness. Only then will we reduce the scale of illegality and consolidate a strong and sustainable regulated sector.Image credit: IBJRThe post Brazil Congress told to focus on $6.4B gambling revenue losses to the black market appeared first on ReadWrite.