FanDuel Group wasted little time taking advantage of the market created by the Supreme Court’s decision to legalize sports betting. https://www.bizjournals.com/newyork/news/2018/08/28/fanduel-group-is-quick-out-of-gates-on-gambling.html

“Paddock’s liquid wealth declined before the shooting. Authorities analyzed Paddock’s finances and determined that he lost nearly 75 percent of his wealth in two years. In September 2015, his bank accounts totaled over $2 million, according to the report. By contrast, that amount dropped to just over $500,000 in September 2017. More than $600,000 was paid to casinos, $170,000 was paid to credit card companies and $95,000 went to gun-related purchases, the report said. Lombardo told reporters today that Paddock’s...

The NCAA announced it will create a working group of “subject matter experts” to assess areas such as officiating, NCAA rules, federal and state laws, and the use of integrity services. NCAA leadership has already called for federal regulation on sports betting. NCAA rules prohibit sports wagering by athletes and athletic department employees. https://www.ksl.com/?sid=46363687

4 reasons NOT to buy a $522 million Mega Millions ticket Lottery jackpots are overwhelming played by low-income Americans, studies show. In fact, the lottery jackpot only becomes “progressive” — meaning that high earners spend more on tickets than more than low earners — when the jackpot is at least $806 million or more, according to this study by Emily Oster, currently a professor of economics at Brown University. https://www.marketwatch.com/story/is-this-1-billion-scratch-card-game-a-new-high-or-low-for-us-lotteries-2017-05-12?mod=newsviewer_click

The New York Times wrote a must-read story about the topic of sports data and how it will be essential to any modern government-sanctioned sports gambling gambling scheme. https://www.nytimes.com/2018/07/02/sports/sports-betting.html

We finally have a better idea of how a DraftKings sportsbook is going to happen in the US. Kristian Nylén, Kambi Chief Executive Officer, said: “I am delighted Kambi has been selected to partner DraftKings as it enters the sports betting market. “The Kambi technology is unique in that it empowers operators to innovate and create differentiated sports betting experiences, providing the flexibility which will be crucial in the developing U.S. market.” The deal will also apply in other states...

Facebook actually was in the online casino space in 2012 with a third-party developer called Gamesys (that) launched Bingo Friendzy using cash for the first time instead of the popular virtual-goods purchases in other gaming apps like Farmville,” Sandler said. “This trial didn’t really get very far, but structurally everything is in place for users and developers to leverage Facebook as a gaming and sharing channel when online betting goes live. Could Facebook, Esports, Media Boom From Legalized Sports Betting?...

State officials from California to Connecticut spent last week maneuvering for control of the tens of billions of dollars in projected revenue from sports betting, and joining them was another group of powerful, and familiar, gambling operators aiming to claim their piece of the action: American Indian tribes. https://www.nytimes.com/2018/05/21/sports/sports-betting-indian-casinos.html

Americans who made bets with gaming, lotteries and offshore regulated betting firms lost approximately $107 billion in 2017, an increase of 1.5% on the previous year, and that’s expected to increase to $118.5 billion this year, according to H2 Gambling Capital, a data and market intelligence firm based in the U.K. That does not include unlicensed or “black market” activities. Sports betting’s aggregate losses — after wins are taken into account — are estimated to account for just $209 million...

USA Today, “Supreme Court sports betting decision is unlikely to fix state budget problems” https://www.usatoday.com/story/money/2018/05/14/supreme-court-sports-betting-ruling-unlikely-relieve-budget-crises/609317002/