Fewer Americans gambling as lotteries and casinos lose participants, survey says Suswati Basu Americans are gambling less often than they did a decade ago, according to Gallup, with some of the biggest declines showing up in lotteries, casinos and workplace pools. Across Gallup telephone polls conducted in June and July, 45% of U.S. … Continue reading Fewer Americans gambling as lotteries and casinos lose participants, survey says
Ontario regulator AGCO fines Betty Gaming after underage gambling failures uncovered online Suswati Basu The Alcohol and Gaming Commission of Ontario has fined Betty Gaming Ltd. C$ 120,000 after determining weaknesses in the company’s age-verification and player eligibility systems let underage users access its Betty.ca online gambling platform. AGCO penalizes Betty Gaming Ltd. … Continue reading Ontario regulator AGCO fines Betty Gaming after underage gambling failures uncovered online
NFT startup founder accused of diverting millions into gambling and luxury spending Suswati Basu Federal prosecutors say the founder of an NFT startup collected more than $ 10 million from investors by promising to build a digital collectibles marketplace, then diverted much of that money to gambling, cryptocurrency trading, luxury purchases and other … Continue reading NFT startup founder accused of diverting millions into gambling and luxury spending
Roosevelt enforcement operation leads to two arrests as illegal gambling machines seized Suswati Basu Two men are facing charges after Nassau County police said officers found illegal electronic gambling machines during a quality-of-life enforcement operation in Roosevelt. The inspections took place Monday (July 6) when members of the Nassau County Police Department’s Strategic … Continue reading Roosevelt enforcement operation leads to two arrests as illegal gambling machines seized
New York Governor Hochul pushes rules to curb youth online gambling access Suswati Basu New York Gov. Kathy Hochul is planning to roll out a comprehensive plan to tighten oversight of online gambling, with a sharp focus on keeping young people off betting platforms and curbing industry practices that can fuel addiction. The … Continue reading New York Governor Hochul pushes rules to curb youth online gambling access
Regulators spotlight Kalshi insider trading cases amid criticism Suswati Basu Federal regulators and prediction-market exchange Kalshi are drawing attention to a pair of insider-trading cases, saying the actions show event-based markets are subject to the same rules as traditional derivatives platforms. The rollout, however, quickly met pushback from a journalist who argued that … Continue reading Regulators spotlight Kalshi insider trading cases amid criticism
Former Eastville officer gets three years for elaborate inheritance gambling scam fraud Suswati Basu A former police officer from Eastville, Virginia, is headed to federal prison after admitting he conned friends, coworkers and neighbors out of hundreds of thousands of dollars with a story about a nonexistent inheritance to fund a gambling addiction. … Continue reading Former Eastville officer gets three years for elaborate inheritance gambling scam fraud
Former NHS manager jailed for £123,000 gambling fraud Brian-Damien Morgan Suswati Basu A former senior UK National Health Service (NHS) manager has been sentenced for syphoning £123,000 ($ 166,000) in funds for personal use, including gambling. According to the Crown Prosecution Service (CPS), the man, Alec Gandy, pleaded guilty to abuse of … Continue reading Former NHS manager jailed for £123,000 gambling fraud
AI models can develop ‘humanlike’ gambling addiction when given more freedom Sophie Atkinson Suswati Basu A new study looking at AI large language models (LLM) and gambling suggests that the models show the same unhealthy patterns people do, like loss chasing and the illusion of control. The research has been carried out … Continue reading AI models can develop ‘humanlike’ gambling addiction when given more freedom
Titus urges committee to advance FAIR BET Act restoring gambling deductions Suswati Basu Rep. Dina Titus (D-Nevada) has urged the House Ways and Means Committee to advance the Fair Accounting for Income Realized from Betting Earnings Taxation (FAIR BET) Act, legislation that would restore the 100% federal tax deduction for gambling losses. Titus … Continue reading Titus urges committee to advance FAIR BET Act restoring gambling deductions
