Flutter: Paddy Power and Betfair owner to list in the US after reaching profitability August 9, 2023 Flutter Entertainment, owner of betting giants including Betfair and Paddy Power, is preparing to list in the US as early as this year. The firm made the announcement as US and UK punters help drive its revenue up 38 per cent for the first half of 2023. Shares dropped over 3.5 per cent when the [...]
What is the Wrexham effect and how is it impacting sports betting? August 3, 2023 Wrexham AFC’s meteoric rise to fame, thanks to the docuseries ‘Welcome to Wrexham’ has caused sports betting to skyrocket in a phenomenon that has been dubbed the ‘Wrexham Effect’. Gambling giant Entain’s UK sportsbook reported a nearly 60 per cent surge in bets during the National League’s 2021-22 season compared to 2017-18 – the 2019-20 [...]
Chelsea fans’ group hail supporter power after Stake.com sponsorship deal axed July 6, 2023 The Chelsea Supporters’ Trust has welcomed suggestions that the Premier League football club has shelved a possible sponsorship deal with crypto betting platform Stake.com. Chelsea had been in talks to make Stake.com their new front-of-shirt sponsor for next season, replacing mobile network Three, which chose not to renew its £40m-a-year contract. The news provoked a [...]
Ladbrokes-owner Entain likely to face “substantial financial penalty” after bribery investigation May 31, 2023 Entain said it could face a “substantial financial penalty” following investigations into its business practices in Turkey by the Crown Prosecution Service (CPS). The Ladbrokers owner said the offences under investigation at its Turkish facing business, which it held between 2011 and 2017, include breaching the bribery act. Entain admitted that “historical misconduct involving former [...]
Ed Warner: Football should offer players amnesty in wake of Ivan Toney betting ban May 25, 2023 This week Ed Warner examines what Ivan Toney’s betting ban means for football, the eye-watering cost of tickets for the Paris 2024 Olympics, and a nuanced take on the trans debate in sport. If you stick a betting company logo on a young man’s shirt, beam his image around the world for 90 minutes every [...]
Flutter looks set for another share price boost after US revenues jump again May 3, 2023 Gambling giant Flutter Entertainment reported a boost in revenue for the first quarter of 2023 as a result of its continued expansion drive in the US. The London-listed company — which owns PaddyPower, Betfair and FanDuel — increased its average monthly players by 30 per cent year on year to £12.3m, pushing revenues up by 46 [...]
Flutter inches closer to primary US listing as more firms fall out of love with London April 28, 2023 London-listed gambling company Flutter yesterday won shareholder approval to launch a secondary listing in the US, paving the way for it to switch its primary listing in the future. 99 per cent of shareholders approved the secondary listing at Flutter’s annual general meeting on Thursday. The listing is expected to take place later this year, [...]
Gambling white paper: Betting firms forced to ‘step up’ checks in biggest industry overhaul since 2005 April 27, 2023 Gambling companies will be subject to tighter regulations including a statutory levy and stricter checks on losses, the government announced today in its long-awaited gambling white paper. The secretary of state for culture, media and sport Lucy Frazer announced on Thursday that the industry would be subject to “six key areas” of reform. Operators will [...]
Draft rules for UK gambling sector expected to be published today April 27, 2023 The long-awaited gambling white paper setting out government proposals to make regulation of the sector “fit for the digital age” is expected to be published today. Campaigners are hopeful it will include plans for affordability checks and the introduction of a statutory levy on gambling operators to pay for research, education and treatment of problem gambling. Other measures hoped to feature [...]
Premier League names date for ban on front-of-shirt gambling advertising April 14, 2023 Premier League clubs have agreed to remove gambling advertising from the front of their match shirts, it has been announced. Teams voluntarily adopted the change, which will be phased over the next year so that no team has a betting brand on the front of their kit by the 2024-25 season. The move is designed [...]