News

Unexpected Leak Reveals Steep Gambling Tax Increase A premature disclosure from the UK’s Office for Budget Responsibility startled the gambling sector by revealing plans for a significant rise in the remote gaming tax rate. The leaked documents indicate the government intends to impose a far stricter tax regime than previously anticipated, raising the remote gaming […]

Allwyn Reports Solid Financial Growth Amid Increased Costs Allwyn International, a leading player in the gaming industry, has released its unaudited financial results for the third quarter, demonstrating steady financial performance. Company executives noted important strategic advancements and expressed confidence in future prospects. Revenue Growth Balanced by Rising Expenses and Customer-Friendly Betting Outcomes During Q3, […]

Robinhood Broadens Its Reach in Prediction Markets Robinhood has announced a strategic partnership with Susquehanna International Group aimed at expanding their footprint in the prediction markets industry. This collaboration responds to the growing popularity and demand for event-based contracts and diversified betting options. Details of the New Exchange Initiative The two companies plan to establish […]

Introduction to Brazil’s Regulated Betting and Tax Proposal One year after Brazil launched its regulated betting market, discussions about increasing taxes on legal gaming operators have come to the forefront. The proposed higher tax rates have raised concerns from the Brazilian Institute of Responsible Gaming (IBJR), which warns that steep tax hikes could negatively impact […]

Polymarket’s Imminent Return to the US Market Polymarket is gearing up for a comeback in the United States after a significant hiatus. The company recently secured approval from the Commodity Futures Trading Commission (CFTC), signaling its readiness to resume operations. While the exact timeline for the relaunch has not been disclosed, an announcement is expected […]

Concerns Raised by Bank of America on Credit and Spending The Bank of America (BoA) recently highlighted the potential negative effects that the rising popularity of prediction markets and sports betting are having on consumer credit and spending habits. The institution warned that many individuals are increasingly relying on credit to fund their participation in […]

Significant Revenue Growth in the UK Gambling Industry The UK gambling sector has experienced a substantial increase in revenues, generating an additional £1 billion ($1.31 billion) over the past year. According to recent data from the Gambling Commission, total earnings from gambling services excluding lotteries reached GBP 12.6 billion ($16.6 billion) for the 12 months […]

Pennsylvania Courts Weigh Impact of Skill Games in the State Recently, Pennsylvania’s Supreme Court heard significant arguments concerning the classification and legality of so-called “skill games.” These machines, commonly found in local bars, convenience stores, and social clubs, have sparked ongoing debates about whether they function as genuine games of skill or if they essentially […]

Tax Hikes Could Trigger Increased Merger and Acquisition Activity Experts are warning that upcoming tax increases on gambling in the UK might prompt a surge in mergers and acquisitions within the industry. This shift could revive interest from major players, including MGM, in acquiring companies like Entain—an acquisition MGM previously attempted but did not complete. […]

The Star Entertainment Nears Bally’s Majority Stakeholder Takeover The Star Entertainment Group is preparing for a significant change as Bally’s Corporation is set to become the majority stakeholder by the end of this week. This takeover is seen as an opportunity for The Star to begin a fresh chapter in its business journey. Completion of […]