Missouri's first month of legal sports betting saw $543 million in wagers but only $521,200 in tax revenue. Sportsbooks gave away $125 million in promos and posted negative adjusted gross revenue.
BetMGM crushed expectations in 2025 and projects $3.1-3.2 billion in revenue for 2026. The sportsbook is finally returning cash to its parent companies.
Danny Funt's new book examines America's sports betting explosion and argues the house always wins. The author makes some points. We're still degenerates.
Starting in 2026, gamblers can only deduct 90% of losses against winnings on federal taxes. Someone who wins and loses $100K owes taxes on $10K in phantom income.
Assembly Bill 601 would let Wisconsin tribes offer online sports betting. The bill nearly passed last year and is expected to return in 2026. The Packers, Bucks, and Brewers all support it.
DraftKings Predictions did $120 million in trading volume in its first month. FanDuel launched through CME. The prediction market war is heating up.
Macquarie analysts say both sportsbooks held better than expected in Q4 and should beat earnings estimates. FanDuel held 12.1% vs 10.9% guidance.
New York's sports betting handle hit $26.3B in 2025, up 16% from 2024. The Empire State now accounts for 17.5% of all US sports betting.
The Tar Heel State's first full year of legal sports betting saw $7.27 billion in handle and over $132 million in tax revenue.
The new tax law caps gambling loss deductions at 90% of winnings. If you won $100K and lost $100K, you now owe taxes on $10K.
New York lawmakers reintroduced online casino legislation this month. The 30.5% tax rate is lower than sports betting but higher than most iGaming states.
John Acres, the inventor of player tracking and progressive jackpots, called out Vegas casinos for nickel-and-diming customers. He's got a point.
The new 90% gambling loss deduction rule means even if you break even, you owe taxes. A player winning $10K and losing $10K now pays taxes on $1K of 'phantom' income.
The two biggest sportsbook operators have officially resigned from the American Gaming Association as prediction markets create an industry rift.
Vegas tourism took a significant hit this year with visitor numbers down 6% from 2024. High prices, changing habits, and economic headwinds are forcing the Strip to reconsider its strategy.
A new Pew Research poll shows public opinion turning against legal sports betting. Up from 34% in 2022, nearly half of Americans now view the industry negatively.
The year in gambling had clear victors and casualties. Prediction markets took over, traditional sportsbooks scrambled, and ESPN Bet couldn't even make it two years.
From the Guardians pitch-rigging scandal to the prediction market wars, 2025 has been a transformative year for the gambling industry. Here's the full recap.