Erik Gibbs

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New Jersey regulator orders Kalshi, Robinhood to drop sports markets

1 month ago | next.io | Erik Gibbs

The NJDGE has issued cease-and-desist orders to Kalshi and Robinhood over alleged violations of state sports wagering laws.
New online sports betting bill emerges in Alaska

1 month ago | next.io | Erik Gibbs

Alaska Rep. Nelson has introduced House Bill 145 (HB 145), marking the latest effort to try to legalize mobile sports wagering in the state.
Robinhood hit with subpoena in Massachusetts over betting markets

1 month ago | next.io | Erik Gibbs

Massachusetts is investigating Robinhood following the brokerage firm's launch of a new prediction markets hub.
Study: Sports Betting Legalization Leads To Fund Managers Making Risky Financial Choices

1 month ago | casinoreports.com | Jeff Edelstein |Erik Gibbs

News In states with legal betting, mutual fund managers have taken a bit of a FAFO approach Us sports bettors — well, I’m speaking directly to “us recreational sports bettors who are mostly in it for the fun” — know the drill. That four-leg parlay looks so good. The only thing that looks better? That five-leg parlay. I mean, +1473? Can’t miss. Just have to win, win, win, win, and … win again. EZ game. Just five simple bets. What could go wrong? Well, everything, usually.
SAFE Bet Act ‘Reintroduced’ At DC Press Conference

2 months ago | casinoreports.com | Eric Raskin |Erik Gibbs

News Sports betting has become ‘the science of exploitation,’ Sen. Blumenthal says If at first you don’t gain much traction announcing your national sports betting bill, try, try again. U.S. Rep. Paul Tonko (New York) first announced plans for the Supporting Affordability and Fairness with Every Bet (SAFE Bet) Act in March 2024 and shared an outline of its measures. He then formally introduced it along with Sen. Richard Blumenthal (Connecticut) on Sept. 12 and held a press conference.
Proliferation Of Gambling Advertising The Focus Of Expert Panel

2 months ago | casinoreports.com | John Brennan |Erik Gibbs

News Whac-A-Mole and a rapidly-changing advertising environment Former New Jersey Division of Gaming Enforcement Director David Rebuck noted on Monday that he was struck — while watching a Duke vs. Florida State men’s basketball game a few days earlier on the Atlantic Coast Conference network — how many commercials he saw promoted the Hard Rock casino brand.
Opposition To New Jersey Gambling Tax Hike Proposal Already Mobilizing

2 months ago | casinoreports.com | John Brennan |Erik Gibbs

News Politicians, operators, casino representatives speaking out against governor’s budget proposal While there are a number of politics-related reasons to believe that New Jersey Gov. Phil Murphy’s desire announced on Tuesday to have the mobile sports betting and iGaming taxes nearly doubled to 25% will be accepted by state lawmakers, that doesn’t mean there won’t be significant pushback.
Substantial Tax Increase For New Jersey Mobile Operators Appears Likely But Not 'Done Deal'

2 months ago | casinoreports.com | John Brennan |Erik Gibbs

News What are the impacts of Gov. Murphy’s budget proposal suggesting a 25% tax rate? New Jersey Gov. Phil Murphy’s annual budget address on Tuesday — his final one as he concludes his second term — officially marks the start of negotiations with the state legislature, with a June 30 deadline for an agreement.
Hawaii lawmakers make another attempt to legalise gambling

Feb 3, 2025 | next.io | Erik Gibbs

Several bills have been introduced in Hawaii to try to legalize online gambling and betting, despite the failure of previous attempts.
Massachusetts could be first US state to see affordability checks

Feb 3, 2025 | next.io | Erik Gibbs

A new bill in Massachusetts will try to introduce affordability checks, increased taxes and a ban on in-play and prop betting.