New York lawmakers are revisiting a measure that would bar residents from deducting any gambling losses on their state income-tax returns, a change projected to raise roughly $50 million annually. Senate Bill 7876, introduced in May by Democratic Sen. Andrew Gounardes, cleared the Budget and Revenue Committee in May but was not taken up before the legislature adjourned on 18 June. Because bills roll over to the second year of the session, the proposal will automatically be reintroduced when lawmakers reconvene in January, and it could also surface sooner if Gov. Kathy Hochul calls the special budget session she has signalled for the fall.

Supporters argue the state should not “subsidize” gambling by offsetting losses, noting that at least a dozen other states—including Connecticut, Illinois and Michigan—already restrict or prohibit the write-off. Opponents counter that the ban would punish both professional gamblers and casual bettors who already saw their federal deductions trimmed this month when the newly enacted One Big Beautiful Bill Act limited loss write-offs to 90 percent of winnings.

The federal curbs have prompted Nevada Democrat Dina Titus to introduce the FAIR BET Act, which would restore the full 100 percent deduction nationwide. If New York proceeds with its ban, residents could face a double hit, paying taxes on gambling income that can no longer be fully offset at either the state or federal level.

Underdog Fantasy has filed lawsuits in Sacramento County Superior Court to prevent California Attorney General Rob Bonta from releasing a legal opinion declaring daily fantasy sports (DFS) contests illegal under California law. The company sought a temporary restraining order (TRO) to block the opinion's release, arguing that attorney general opinions are limited to pure legal questions and cannot resolve disputed factual issues such as the role of chance versus skill in DFS contests. However, the court denied Underdog's request for a TRO, citing undue delay and noting that attorney general opinions are advisory and do not carry the weight of law. Despite the denial, Underdog continues to challenge the opinion and plans to keep offering DFS in California.

On July 3, 2025, Attorney General Bonta released the official legal opinion stating that online fantasy sports platforms are illegal in California because they constitute wagering on sports, violating Penal Code 337a. This ruling applies to both draft-style and pick'em DFS games and is expected to have broad implications for operators like Underdog, DraftKings, and FanDuel. The opinion also emphasizes that games with players physically located in California are prohibited regardless of where the operators or technology are based. The ruling sets the stage for further legal battles and potential legislative efforts to clarify the status of fantasy sports in the state. California's stance aligns with a similar opinion issued by the Texas Attorney General a decade earlier, raising questions about possible reassessments in other states such as Florida. The California Department of Justice expects compliance with the ruling but has not specified enforcement actions. The opinion has created uncertainty within the fantasy sports industry, especially as some operators have recently entered sponsorship agreements with major sports teams in California.

Underdog Fantasy has filed lawsuits in Sacramento County Superior Court to prevent California Attorney General Rob Bonta from releasing a forthcoming legal opinion declaring daily fantasy sports (DFS) illegal under state law. The company argues that the AG's opinion improperly addresses disputed factual questions, such as the role of chance versus skill in DFS contests, which they claim exceeds the AG's authority. Underdog also sought a temporary restraining order (TRO) to block the opinion's release, but the court denied the request, citing undue delay and noting that AG opinions are advisory and do not carry the weight of law. Despite the denial, Underdog has stated it will continue offering DFS in California.

On July 3, 2025, the California Department of Justice officially released the AG's legal opinion, stating that online fantasy sports platforms violate Penal Code 337a by constituting wagering on sports when players are physically located in California. The opinion targets both draft-style and pick'em DFS games but does not address season-long fantasy sports, which remain unaffected. Governor Gavin Newsom expressed disagreement with the AG's decision but indicated a willingness to seek a constructive path forward with stakeholders. The ruling aligns California with Texas, where the AG also opined that DFS contests violate state law, raising questions about potential impacts on other states like Florida. The opinion creates a challenging regulatory environment for DFS operators including Underdog, DraftKings, FanDuel, and PrizePicks, the latter having recently switched platforms amid the uncertainty. The legal and legislative battles over DFS legality in California are expected to continue.

New Jersey lawmakers have passed legislation banning online sweepstakes casinos, making the state the sixth in the U.S. to impose such a ban. The Assembly approved the bill A5447 with a vote of 69-10-1, and the Senate followed with a 34-5 vote on bill S4282. The legislation now awaits Governor Phil Murphy's signature.

Concurrently, New Jersey has enacted a tax increase on online gaming, mobile sports betting, and daily fantasy sports (DFS), raising rates from 13% and 15% respectively to a uniform 19.75%. The tax hike passed the Senate 25-14 along party lines and is also expected to be signed into law by Governor Murphy. Industry analysts, including Truist, suggest operators may offset the tax increase by reducing promotional offers. Meanwhile, at the federal level, a Senate bill nicknamed the "Big Beautiful Bill" proposes changes to gambling taxation, including permanent limits on gambling loss deductions. This federal proposal has raised concerns among industry advocates who warn it could increase illicit gambling and negatively impact professional gamblers, as it would restrict loss write-offs to 90%, potentially resulting in tax liabilities even when players lose money.

NASCAR on Saturday released the full 32-driver bracket for its 2025 In-Season Challenge, setting up a series of head-to-head eliminations that will run alongside the regular Cup calendar.

The top seed opens against No. 32 Ty Dillon, while No. 2 seed Chase Briscoe meets close friend Noah Gragson, seeded 31st. Other first-round matchups include Chris Buescher–Todd Gilliland (3-30), Christopher Bell–Ricky Stenhouse Jr. (4-29) and Chase Elliott–Austin Dillon (5-28).

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California is facing increasing regulatory scrutiny over its online gambling sector, particularly concerning daily fantasy sports (DFS) and sweepstakes casinos operating in a legal gray area. Governor Gavin Newsom and Attorney General Rob Bonta are reportedly preparing to declare online fantasy sports illegal in the state. This move threatens to blur the distinction between single-player fantasy sports and sports betting, a line that has been protected by federal regulations such as those governing prediction markets under the Commodity Futures Trading Commission (CFTC). The future of these platforms may ultimately be decided in federal court, with the possibility of the Supreme Court reviewing the case.

Industry leaders, including Kalshi CEO Mansour Tarek, have recently discussed the state of prediction markets amid these developments. The debate highlights the challenges in regulating online gambling, where some view certain platforms as parasitic gambling sites rather than legitimate fantasy sports. Sports remain the most liquid segment of prediction markets due to their repetitive and structured nature, while non-sports categories face growth challenges. The evolving legal landscape in California could have significant implications for the broader online gambling and fantasy sports industries.

Ahead of the 2025 NBA Draft, Cooper Flagg has emerged as the overwhelming favorite to be selected first overall and to win the 2025-26 NBA Rookie of the Year award. Betting data from multiple sportsbooks including BetMGM and DK Sportsbook consistently show Flagg as the top pick with odds as low as -50000 for the No. 1 draft slot and -250 to -225 to win Rookie of the Year. Other top betting favorites for the draft include Dylan Harper, V.J.

Edgecombe, Kon Knueppel, and Jeremiah Fears, who are projected to be picked within the top five selections. Flagg’s status as Rookie of the Year favorite is notable as he holds the best preseason odds since at least 2006, a year when only three players were odds-on favorites to win the award, including Kevin Durant and Victor Wembanyama, both of whom won Rookie of the Year. The betting market shows significant interest and money wagered on Flagg, with $100 bets on him to be the first pick yielding $1 in profit at BetMGM. Other players with notable Rookie of the Year odds include Tre Johnson (+700), Ace Bailey (+800), Dylan Harper (+1300), and Kon Knueppel (+2500). Historical data indicates that the betting favorite has won Rookie of the Year in 7 of the last 19 seasons since 2006.

In May 2025, Colorado sportsbooks recorded a monthly record in table tennis betting, with wagers totaling nearly $32.4 million, averaging over $1 million per day. This figure surpassed the $28.9 million wagered on actual tennis during the same period. Year-to-date through May, Colorado's sports betting handle reached $2.78 billion, placing it eighth among U.S. states, with a post-PASPA cumulative handle of $24.74 billion.

Colorado sportsbooks posted $2.9 million in winnings from table tennis alone in May, contributing to an overall table tennis handle of $672.9 million in the state. Additionally, Colorado sportsbooks reported a 22.16% hold on parlay bets in May, with a $118.87 million handle generating $26.35 million in revenue. This hold rate lowered the combined hold from states providing such data (Colorado, Maryland, Mississippi, New Jersey, Oregon) to 24.33%. In the broader U.S. sports betting market, New York led with $2.22 billion in May handle, followed by New Jersey with $1.01 billion and Massachusetts with $655.8 million. Year-to-date through May, New York topped with $11.29 billion, followed by Illinois at $5.4 billion and New Jersey at $5.25 billion. Post-PASPA cumulative handles show New York leading at $69.84 billion, with New Jersey at $63.73 billion and Illinois around $49.7 billion. Separately, in South Africa, sports betting expenditure in 2025 approached or exceeded R1 trillion, compared to a total annual household income of R4.3 trillion in 2023.

The WNBA’s in-form Golden State Valkyries welcome the defending champion New York Liberty on Wednesday night in San Jose, with betting markets tightening as injuries sap the visitors’ firepower. New York will be without former MVP Jonquel Jones and lists star guard Sabrina Ionescu as questionable because of a neck issue. The absences have chopped the point spread to Liberty –7.5, down two points from the opening line, while the game total has slipped to 161.5.

Golden State enters the contest at 9-4 against the spread, the league’s best mark, thanks to a defense that has pushed eight of its 13 games under the total. New York, by contrast, has excelled at high-scoring road games, hitting the over in five of six away fixtures. Tip-off is set for 10 p.m. Eastern on WNBA League Pass and local broadcaster KPIX.

The night’s second matchup sends the struggling Las Vegas Aces, only 4-9 ATS despite a recent rout of Indiana, against a Connecticut Sun squad mired in a 2-12 slump. Odds makers have installed Las Vegas as a 19-point favorite, reflecting doubts that Connecticut can arrest its slide. Both games will give bettors and analysts fresh clues about whether early-season wagering trends continue to hold.

The Houston Rockets have reached agreement to acquire 15-time All-Star Kevin Durant from the Phoenix Suns, according to multiple reports confirmed by ESPN’s Shams Charania on 22 June. Phoenix will receive guard Jalen Green, forward Dillon Brooks, the No. 10 selection in Wednesday’s 2025 NBA Draft and five future second-round picks. League rules prevent the trade from becoming official before 6 July, but both clubs have notified the NBA of the terms.

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JPMorgan Chase & Co. launched formal coverage of the U.S. lodging and gaming sector on Monday, assigning Overweight ratings to DraftKings, Penn Entertainment and Wynn Resorts, while starting Las Vegas Sands at Neutral.

The bank set a $50 price target for DraftKings, saying the online-betting specialist offers “strong long-term upside” in digital gaming. Penn Entertainment received a $24 target, with analysts pointing to roughly $1 billion in planned projects and activist investor backing as catalysts for improved fundamentals. Wynn Resorts was given a $109 target, and Las Vegas Sands a $47 target, reflecting a more balanced risk-reward profile, according to the note.

New York’s fast-growing mobile sports-betting market surpassed US$70 billion in cumulative wagers, according to the latest figures from the New York State Gaming Commission. The milestone was reached after operators handled US$390.8 million during the week of 9–15 June. Books kept 13.9 percent of stakes, their sixth-highest weekly hold on record, generating US$54.3 million in gross gaming revenue and extending a four-week stretch of holds above 12.75 percent.

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DraftKings Inc. said it has filed paperwork with the Federal Election Commission to establish a corporate political action committee, marking the sports-betting operator’s first formal foray into direct political giving. The company did not immediately disclose planned fundraising targets or intended beneficiaries, but the filing allows it to solicit donations from executives and employees and contribute to federal candidates.

The move comes as DraftKings remains under scrutiny following allegations in recent years that it sought to obstruct or impair competition in the sports-betting market, a potential violation of U.S. antitrust law. The company has not been charged, but the inquiry has heightened regulatory attention on its business practices even as the U.S. wagering market rapidly expands.

Michigan's online gambling and sports betting market reached a record monthly revenue of $301.4 million in May 2025, driven by growth in both iGaming and mobile sports betting sectors. This monthly figure represents approximately seven years' worth of sports betting revenue for the state. In terms of sports betting handle, Michigan ranked eighth in May 2025 with $395.3 million wagered, behind states like New York, New Jersey, and Pennsylvania. Year-to-date through May 2025, Michigan's sports betting handle totaled $21.5 billion, placing it tenth among states since the repeal of PASPA. Nationally, New York led with a $69.84 billion handle post-PASPA, followed by New Jersey and Illinois. Industry leaders FanDuel and DraftKings reported near-record gaming margins in May, aided by favorable game outcomes and extended NBA and NHL Finals series, which are expected to contribute to stronger quarterly performance.

Arkansas pitcher Gage Wood delivered a historic performance in the Men's College World Series (MCWS) on June 16, 2025, by throwing the third no-hitter in the event's history and the first since 1960. Wood struck out 19 batters, setting a MCWS single-game record for strikeouts, and led Arkansas to a 3-0 victory over Murray State, keeping the Razorbacks' season alive in an elimination game. Wood's no-hitter bid was nearly a perfect game, ending in the eighth inning due to a hit-by-pitch. He threw 119 pitches, reaching speeds up to 98 mph in the ninth inning.

This achievement marks only the third no-hitter in the College World Series since its inception, with previous no-hitters recorded in 1950 and 1960. Wood, who had never pitched more than six innings in his college career prior to this game, is projected to be a first-round pick in the upcoming MLB draft. Arkansas, previously listed at +600 odds to win the College World Series, saw their odds improve to +375 following Wood's performance. The Razorbacks will next face the loser of the LSU-UCLA game in the tournament.

DraftKings announced it will implement a 50-cent transaction fee on all mobile and online sports bets placed in Illinois, effective September 1, 2025. This move follows FanDuel's earlier decision to introduce the same fee after Illinois passed new sports wagering taxes that effectively triple the tax rate to approximately 50%. Both companies have stated that the fee will be removed if the tax is repealed. The new tax and fees have raised concerns among industry experts and insiders, who warn that the increased costs will be passed on to recreational bettors, particularly those placing smaller bets, potentially driving some bettors toward illegal sportsbooks.

Illinois Governor J.B. Pritzker signed the state's latest budget plan, which includes a 25-cent charge on every online wager, effective July 1, 2025. Illinois ranks second in the nation for year-to-date sports betting handle in 2025, with $5.4 billion, behind New York. The tax increase and resulting fees are seen as a potential precedent for other states considering similar measures to address budget gaps.

DraftKings and FanDuel will implement a 50-cent transaction fee on all mobile and online sports bets placed in Illinois starting September 1, 2025. This move follows Illinois' recent increase in sports wagering taxes, which now impose a per-bet levy of 25 cents for the first 20 million wagers and 50 cents thereafter. The new tax structure, signed into law by Governor J.B. Pritzker, is expected to disproportionately affect recreational bettors who place smaller wagers.

Fanatics Book has also announced plans to introduce a 25-cent surcharge on Illinois-based bets in the fall to offset the tax. Industry experts warn that these fees could drive bettors toward illegal sites and may set a precedent for other states to adopt similar taxes. DraftKings CEO Jason Robins cautioned about potential negative impacts on the legal betting market. Additionally, DraftKings is currently seeking to dismiss a class action lawsuit alleging the company canceled wagers with faulty odds, a claim the company describes as untenable.

Delegates to the Southern Baptist Convention, the nation’s largest Protestant denomination, voted at their annual meeting in Dallas to endorse a resolution defining marriage exclusively as the union of one man and one woman. The measure urges federal and state lawmakers to enact corresponding legislation and explicitly calls on the U.S. Supreme Court to overturn its 2015 Obergefell v. Hodges decision that legalized same-sex marriage nationwide.

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Major League Baseball (MLB) has acquired a stake in Jomboy Media as part of its strategy to expand its digital presence. This partnership marks a notable shift in MLB's approach to content creators, who have increasingly influenced fan engagement. Jomboy Media, known for its coverage of umpire errors and viral moments, had previously been kept at a distance by MLB, with former MLB executive Joe Torre criticizing some of its content. However, MLB Commissioner Rob Manfred is actively negotiating media rights deals with NBC, Apple TV, and another partner to replace ESPN’s opt-out, aiming to finalize a short-term agreement before the July 15 All-Star Game. The president of the umpires union acknowledged Jomboy Media's unique and entertaining approach but noted the union was not informed prior to the deal. Jomboy Media’s founder highlighted the importance of the MLB partnership in leveraging creator-driven fandom, signaling a strategic embrace of new media formats by the league.

The NCAA reported a decrease in online abuse related to sports betting during the 2025 March Madness basketball tournaments compared to the previous year. Overall, such abuse declined by 23%, according to a study released Tuesday. Despite the reduction, more than 3,000 threatening messages were still directed at individuals involved in the competition. The study also highlighted a 140% increase in harassment targeting tournament officials and coaches, even as abuse toward student-athletes, including from sports bettors, decreased.

New York lawmakers are revisiting a measure that would bar residents from deducting any gambling losses on their state income-tax returns, a change projected to raise roughly $50 million annually. Senate Bill 7876, introduced in May by Democratic Sen. Andrew Gounardes, cleared the Budget and Revenue Committee in May but was not taken up before the legislature adjourned on 18 June. Because bills roll over to the second year of the session, the proposal will automatically be reintroduced when lawmakers reconvene in January, and it could also surface sooner if Gov. Kathy Hochul calls the special budget session she has signalled for the fall.

Supporters argue the state should not “subsidize” gambling by offsetting losses, noting that at least a dozen other states—including Connecticut, Illinois and Michigan—already restrict or prohibit the write-off. Opponents counter that the ban would punish both professional gamblers and casual bettors who already saw their federal deductions trimmed this month when the newly enacted One Big Beautiful Bill Act limited loss write-offs to 90 percent of winnings.

The federal curbs have prompted Nevada Democrat Dina Titus to introduce the FAIR BET Act, which would restore the full 100 percent deduction nationwide. If New York proceeds with its ban, residents could face a double hit, paying taxes on gambling income that can no longer be fully offset at either the state or federal level.

Underdog Fantasy has filed lawsuits in Sacramento County Superior Court to prevent California Attorney General Rob Bonta from releasing a legal opinion declaring daily fantasy sports (DFS) contests illegal under California law. The company sought a temporary restraining order (TRO) to block the opinion's release, arguing that attorney general opinions are limited to pure legal questions and cannot resolve disputed factual issues such as the role of chance versus skill in DFS contests. However, the court denied Underdog's request for a TRO, citing undue delay and noting that attorney general opinions are advisory and do not carry the weight of law. Despite the denial, Underdog continues to challenge the opinion and plans to keep offering DFS in California.

On July 3, 2025, Attorney General Bonta released the official legal opinion stating that online fantasy sports platforms are illegal in California because they constitute wagering on sports, violating Penal Code 337a. This ruling applies to both draft-style and pick'em DFS games and is expected to have broad implications for operators like Underdog, DraftKings, and FanDuel. The opinion also emphasizes that games with players physically located in California are prohibited regardless of where the operators or technology are based. The ruling sets the stage for further legal battles and potential legislative efforts to clarify the status of fantasy sports in the state. California's stance aligns with a similar opinion issued by the Texas Attorney General a decade earlier, raising questions about possible reassessments in other states such as Florida. The California Department of Justice expects compliance with the ruling but has not specified enforcement actions. The opinion has created uncertainty within the fantasy sports industry, especially as some operators have recently entered sponsorship agreements with major sports teams in California.

Underdog Fantasy has filed lawsuits in Sacramento County Superior Court to prevent California Attorney General Rob Bonta from releasing a forthcoming legal opinion declaring daily fantasy sports (DFS) illegal under state law. The company argues that the AG's opinion improperly addresses disputed factual questions, such as the role of chance versus skill in DFS contests, which they claim exceeds the AG's authority. Underdog also sought a temporary restraining order (TRO) to block the opinion's release, but the court denied the request, citing undue delay and noting that AG opinions are advisory and do not carry the weight of law. Despite the denial, Underdog has stated it will continue offering DFS in California.

On July 3, 2025, the California Department of Justice officially released the AG's legal opinion, stating that online fantasy sports platforms violate Penal Code 337a by constituting wagering on sports when players are physically located in California. The opinion targets both draft-style and pick'em DFS games but does not address season-long fantasy sports, which remain unaffected. Governor Gavin Newsom expressed disagreement with the AG's decision but indicated a willingness to seek a constructive path forward with stakeholders. The ruling aligns California with Texas, where the AG also opined that DFS contests violate state law, raising questions about potential impacts on other states like Florida. The opinion creates a challenging regulatory environment for DFS operators including Underdog, DraftKings, FanDuel, and PrizePicks, the latter having recently switched platforms amid the uncertainty. The legal and legislative battles over DFS legality in California are expected to continue.

New Jersey lawmakers have passed legislation banning online sweepstakes casinos, making the state the sixth in the U.S. to impose such a ban. The Assembly approved the bill A5447 with a vote of 69-10-1, and the Senate followed with a 34-5 vote on bill S4282. The legislation now awaits Governor Phil Murphy's signature.

Concurrently, New Jersey has enacted a tax increase on online gaming, mobile sports betting, and daily fantasy sports (DFS), raising rates from 13% and 15% respectively to a uniform 19.75%. The tax hike passed the Senate 25-14 along party lines and is also expected to be signed into law by Governor Murphy. Industry analysts, including Truist, suggest operators may offset the tax increase by reducing promotional offers. Meanwhile, at the federal level, a Senate bill nicknamed the "Big Beautiful Bill" proposes changes to gambling taxation, including permanent limits on gambling loss deductions. This federal proposal has raised concerns among industry advocates who warn it could increase illicit gambling and negatively impact professional gamblers, as it would restrict loss write-offs to 90%, potentially resulting in tax liabilities even when players lose money.

NASCAR on Saturday released the full 32-driver bracket for its 2025 In-Season Challenge, setting up a series of head-to-head eliminations that will run alongside the regular Cup calendar.

The top seed opens against No. 32 Ty Dillon, while No. 2 seed Chase Briscoe meets close friend Noah Gragson, seeded 31st. Other first-round matchups include Chris Buescher–Todd Gilliland (3-30), Christopher Bell–Ricky Stenhouse Jr. (4-29) and Chase Elliott–Austin Dillon (5-28).

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California is facing increasing regulatory scrutiny over its online gambling sector, particularly concerning daily fantasy sports (DFS) and sweepstakes casinos operating in a legal gray area. Governor Gavin Newsom and Attorney General Rob Bonta are reportedly preparing to declare online fantasy sports illegal in the state. This move threatens to blur the distinction between single-player fantasy sports and sports betting, a line that has been protected by federal regulations such as those governing prediction markets under the Commodity Futures Trading Commission (CFTC). The future of these platforms may ultimately be decided in federal court, with the possibility of the Supreme Court reviewing the case.

Industry leaders, including Kalshi CEO Mansour Tarek, have recently discussed the state of prediction markets amid these developments. The debate highlights the challenges in regulating online gambling, where some view certain platforms as parasitic gambling sites rather than legitimate fantasy sports. Sports remain the most liquid segment of prediction markets due to their repetitive and structured nature, while non-sports categories face growth challenges. The evolving legal landscape in California could have significant implications for the broader online gambling and fantasy sports industries.

Ahead of the 2025 NBA Draft, Cooper Flagg has emerged as the overwhelming favorite to be selected first overall and to win the 2025-26 NBA Rookie of the Year award. Betting data from multiple sportsbooks including BetMGM and DK Sportsbook consistently show Flagg as the top pick with odds as low as -50000 for the No. 1 draft slot and -250 to -225 to win Rookie of the Year. Other top betting favorites for the draft include Dylan Harper, V.J.

Edgecombe, Kon Knueppel, and Jeremiah Fears, who are projected to be picked within the top five selections. Flagg’s status as Rookie of the Year favorite is notable as he holds the best preseason odds since at least 2006, a year when only three players were odds-on favorites to win the award, including Kevin Durant and Victor Wembanyama, both of whom won Rookie of the Year. The betting market shows significant interest and money wagered on Flagg, with $100 bets on him to be the first pick yielding $1 in profit at BetMGM. Other players with notable Rookie of the Year odds include Tre Johnson (+700), Ace Bailey (+800), Dylan Harper (+1300), and Kon Knueppel (+2500). Historical data indicates that the betting favorite has won Rookie of the Year in 7 of the last 19 seasons since 2006.

In May 2025, Colorado sportsbooks recorded a monthly record in table tennis betting, with wagers totaling nearly $32.4 million, averaging over $1 million per day. This figure surpassed the $28.9 million wagered on actual tennis during the same period. Year-to-date through May, Colorado's sports betting handle reached $2.78 billion, placing it eighth among U.S. states, with a post-PASPA cumulative handle of $24.74 billion.

Colorado sportsbooks posted $2.9 million in winnings from table tennis alone in May, contributing to an overall table tennis handle of $672.9 million in the state. Additionally, Colorado sportsbooks reported a 22.16% hold on parlay bets in May, with a $118.87 million handle generating $26.35 million in revenue. This hold rate lowered the combined hold from states providing such data (Colorado, Maryland, Mississippi, New Jersey, Oregon) to 24.33%. In the broader U.S. sports betting market, New York led with $2.22 billion in May handle, followed by New Jersey with $1.01 billion and Massachusetts with $655.8 million. Year-to-date through May, New York topped with $11.29 billion, followed by Illinois at $5.4 billion and New Jersey at $5.25 billion. Post-PASPA cumulative handles show New York leading at $69.84 billion, with New Jersey at $63.73 billion and Illinois around $49.7 billion. Separately, in South Africa, sports betting expenditure in 2025 approached or exceeded R1 trillion, compared to a total annual household income of R4.3 trillion in 2023.

The WNBA’s in-form Golden State Valkyries welcome the defending champion New York Liberty on Wednesday night in San Jose, with betting markets tightening as injuries sap the visitors’ firepower. New York will be without former MVP Jonquel Jones and lists star guard Sabrina Ionescu as questionable because of a neck issue. The absences have chopped the point spread to Liberty –7.5, down two points from the opening line, while the game total has slipped to 161.5.

Golden State enters the contest at 9-4 against the spread, the league’s best mark, thanks to a defense that has pushed eight of its 13 games under the total. New York, by contrast, has excelled at high-scoring road games, hitting the over in five of six away fixtures. Tip-off is set for 10 p.m. Eastern on WNBA League Pass and local broadcaster KPIX.

The night’s second matchup sends the struggling Las Vegas Aces, only 4-9 ATS despite a recent rout of Indiana, against a Connecticut Sun squad mired in a 2-12 slump. Odds makers have installed Las Vegas as a 19-point favorite, reflecting doubts that Connecticut can arrest its slide. Both games will give bettors and analysts fresh clues about whether early-season wagering trends continue to hold.

The Houston Rockets have reached agreement to acquire 15-time All-Star Kevin Durant from the Phoenix Suns, according to multiple reports confirmed by ESPN’s Shams Charania on 22 June. Phoenix will receive guard Jalen Green, forward Dillon Brooks, the No. 10 selection in Wednesday’s 2025 NBA Draft and five future second-round picks. League rules prevent the trade from becoming official before 6 July, but both clubs have notified the NBA of the terms.

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JPMorgan Chase & Co. launched formal coverage of the U.S. lodging and gaming sector on Monday, assigning Overweight ratings to DraftKings, Penn Entertainment and Wynn Resorts, while starting Las Vegas Sands at Neutral.

The bank set a $50 price target for DraftKings, saying the online-betting specialist offers “strong long-term upside” in digital gaming. Penn Entertainment received a $24 target, with analysts pointing to roughly $1 billion in planned projects and activist investor backing as catalysts for improved fundamentals. Wynn Resorts was given a $109 target, and Las Vegas Sands a $47 target, reflecting a more balanced risk-reward profile, according to the note.

New York’s fast-growing mobile sports-betting market surpassed US$70 billion in cumulative wagers, according to the latest figures from the New York State Gaming Commission. The milestone was reached after operators handled US$390.8 million during the week of 9–15 June. Books kept 13.9 percent of stakes, their sixth-highest weekly hold on record, generating US$54.3 million in gross gaming revenue and extending a four-week stretch of holds above 12.75 percent.

Read more

DraftKings Inc. said it has filed paperwork with the Federal Election Commission to establish a corporate political action committee, marking the sports-betting operator’s first formal foray into direct political giving. The company did not immediately disclose planned fundraising targets or intended beneficiaries, but the filing allows it to solicit donations from executives and employees and contribute to federal candidates.

The move comes as DraftKings remains under scrutiny following allegations in recent years that it sought to obstruct or impair competition in the sports-betting market, a potential violation of U.S. antitrust law. The company has not been charged, but the inquiry has heightened regulatory attention on its business practices even as the U.S. wagering market rapidly expands.

Michigan's online gambling and sports betting market reached a record monthly revenue of $301.4 million in May 2025, driven by growth in both iGaming and mobile sports betting sectors. This monthly figure represents approximately seven years' worth of sports betting revenue for the state. In terms of sports betting handle, Michigan ranked eighth in May 2025 with $395.3 million wagered, behind states like New York, New Jersey, and Pennsylvania. Year-to-date through May 2025, Michigan's sports betting handle totaled $21.5 billion, placing it tenth among states since the repeal of PASPA. Nationally, New York led with a $69.84 billion handle post-PASPA, followed by New Jersey and Illinois. Industry leaders FanDuel and DraftKings reported near-record gaming margins in May, aided by favorable game outcomes and extended NBA and NHL Finals series, which are expected to contribute to stronger quarterly performance.

Arkansas pitcher Gage Wood delivered a historic performance in the Men's College World Series (MCWS) on June 16, 2025, by throwing the third no-hitter in the event's history and the first since 1960. Wood struck out 19 batters, setting a MCWS single-game record for strikeouts, and led Arkansas to a 3-0 victory over Murray State, keeping the Razorbacks' season alive in an elimination game. Wood's no-hitter bid was nearly a perfect game, ending in the eighth inning due to a hit-by-pitch. He threw 119 pitches, reaching speeds up to 98 mph in the ninth inning.

This achievement marks only the third no-hitter in the College World Series since its inception, with previous no-hitters recorded in 1950 and 1960. Wood, who had never pitched more than six innings in his college career prior to this game, is projected to be a first-round pick in the upcoming MLB draft. Arkansas, previously listed at +600 odds to win the College World Series, saw their odds improve to +375 following Wood's performance. The Razorbacks will next face the loser of the LSU-UCLA game in the tournament.

DraftKings announced it will implement a 50-cent transaction fee on all mobile and online sports bets placed in Illinois, effective September 1, 2025. This move follows FanDuel's earlier decision to introduce the same fee after Illinois passed new sports wagering taxes that effectively triple the tax rate to approximately 50%. Both companies have stated that the fee will be removed if the tax is repealed. The new tax and fees have raised concerns among industry experts and insiders, who warn that the increased costs will be passed on to recreational bettors, particularly those placing smaller bets, potentially driving some bettors toward illegal sportsbooks.

Illinois Governor J.B. Pritzker signed the state's latest budget plan, which includes a 25-cent charge on every online wager, effective July 1, 2025. Illinois ranks second in the nation for year-to-date sports betting handle in 2025, with $5.4 billion, behind New York. The tax increase and resulting fees are seen as a potential precedent for other states considering similar measures to address budget gaps.

DraftKings and FanDuel will implement a 50-cent transaction fee on all mobile and online sports bets placed in Illinois starting September 1, 2025. This move follows Illinois' recent increase in sports wagering taxes, which now impose a per-bet levy of 25 cents for the first 20 million wagers and 50 cents thereafter. The new tax structure, signed into law by Governor J.B. Pritzker, is expected to disproportionately affect recreational bettors who place smaller wagers.

Fanatics Book has also announced plans to introduce a 25-cent surcharge on Illinois-based bets in the fall to offset the tax. Industry experts warn that these fees could drive bettors toward illegal sites and may set a precedent for other states to adopt similar taxes. DraftKings CEO Jason Robins cautioned about potential negative impacts on the legal betting market. Additionally, DraftKings is currently seeking to dismiss a class action lawsuit alleging the company canceled wagers with faulty odds, a claim the company describes as untenable.

Delegates to the Southern Baptist Convention, the nation’s largest Protestant denomination, voted at their annual meeting in Dallas to endorse a resolution defining marriage exclusively as the union of one man and one woman. The measure urges federal and state lawmakers to enact corresponding legislation and explicitly calls on the U.S. Supreme Court to overturn its 2015 Obergefell v. Hodges decision that legalized same-sex marriage nationwide.

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Major League Baseball (MLB) has acquired a stake in Jomboy Media as part of its strategy to expand its digital presence. This partnership marks a notable shift in MLB's approach to content creators, who have increasingly influenced fan engagement. Jomboy Media, known for its coverage of umpire errors and viral moments, had previously been kept at a distance by MLB, with former MLB executive Joe Torre criticizing some of its content. However, MLB Commissioner Rob Manfred is actively negotiating media rights deals with NBC, Apple TV, and another partner to replace ESPN’s opt-out, aiming to finalize a short-term agreement before the July 15 All-Star Game. The president of the umpires union acknowledged Jomboy Media's unique and entertaining approach but noted the union was not informed prior to the deal. Jomboy Media’s founder highlighted the importance of the MLB partnership in leveraging creator-driven fandom, signaling a strategic embrace of new media formats by the league.

The NCAA reported a decrease in online abuse related to sports betting during the 2025 March Madness basketball tournaments compared to the previous year. Overall, such abuse declined by 23%, according to a study released Tuesday. Despite the reduction, more than 3,000 threatening messages were still directed at individuals involved in the competition. The study also highlighted a 140% increase in harassment targeting tournament officials and coaches, even as abuse toward student-athletes, including from sports bettors, decreased.