Weekender: Illinois Fees, Horse Racing Hopes, and Gambling Market Shifts
DraftKings adds Illinois wager fee, horse racing eyes revival, prediction markets falter, and bettors stick to unregulated sites despite legalization.
The Bulletin Board
ABOVE the FOLD: The week’s top stories from Straight to the Point.
READS of the WEEK: A short list of the articles STTP is reading.
NEWSLETTER ROUNDUP: The best of the best from industry newsletters.
Sponsor’s Message: Increase Operator Margins with EDGE Boost Today!
EDGE Boost is the first dedicated bank account for bettors.
Increase Cash Access: On/Offline with $250k/day debit limits
No Integration or Costs: Compatible today with all operators via VISA debit rails
Incremental Non-Gaming Revenue: Up to 1% operator rebate on transactions
Lower Costs: Increase debit throughput to reduce costs against ACH/Wallets
Eliminate Chargebacks and Disputes
Eliminate Debit Declines
Built-in Responsible Gaming tools
To learn more, contact Matthew Cullen, Chief Strategy Officer, Matthew@edgemarkets.io
Above the Fold: The Week’s Top Stories on STTP
[MONDAY]: To no one's surprise, DraftKings is following FanDuel's lead and plans to add a $.50 transaction fee to all sports wagers in Illinois.
[TUESDAY]: Horse racing is on the decline, but does interest in tentpole events like the Kentucky Derby provide hope for a brighter future?
[WEDNESDAY]: Prediction markets and sweepstakes operators are having a bad week, and finding out that things change pretty quickly in the gambling universe.
[THURSDAY]: Bettor behaviors and legalization’s impact on black markets is complex, evidenced by the many bettors in regulated markets who continue using unregulated sites.
[FRIDAY FEATURE]: Innovation drives progress, but left unchecked, it risks chaos. Can we balance breakthroughs with accountability?
The Innovation Trap
While innovation is often hailed as progress, efforts to regulate emerging technologies are frequently dismissed as anti-progress, self-serving, or worse. Innovators frame the issue in stark terms: regulation is bad; progress is good. They portray anything that prevents innovation as unnecessary handcuffs.
[PODCAST]: Mark Stewart discusses the untold story of online casino legalization and why The Cordish Companies and other companies are opposed to it.
Episode 55: The Case Against Online Gambling with Mark Stewart
This week’s guest on the Straight to the Point Talking Shop Podcast is Mark Stewart, Executive Vice President and General Counsel at the Cordish Companies and a board member of the National Association Against iGaming (NAAiG).
Reads of the Week
Reviving the Statute of Anne: Should Lawyers Mine Centuries-Old Statutes for Profit? [Robert Ward, Ifrah Law]
The Richest Men In Illinois And The Billion-Dollar Sports Betting Grudge [Eric Ramsey, Legal Sports Report] A must-read on the politics of Illinois
‘Coordinated Attack’ Underway On Operators Not Regulated By States [Jill Dorson, Casino Reports]
Many Sports Betting Marketing Deals Will Expire Soon — And They’re Worth a Lot Less Now [Daniel O’Boyle, InGame]
What you need to know about these Kalshi legal briefs [Jessica Welman, SBC Americas] An excellent overview of the numerous briefs filed last week
The Scheme That Broke the Texas Lottery [Rachel Monroe, New Yorker] Another must-read that explains why the Texas Lottery is in a state of tumult
