The proliferation of sports betting in the U.S. has led to a multibillion-dollar industry, with 38 states and D.C. allowing sports betting. However, concerns are rising about the culture of addiction and the risk of money laundering associated with the industry, as highlighted by recent cases involving FanDuel. Pro leagues and major networks are also criticized for potentially undermining the value of sports in their pursuit of profits.
Pro sports and the betting around it launders money for despots and drug traffickers. It needs to be cleaned out on national security grounds. https://t.co/Gx9GxQ4LBg
NEW: Massachusetts generated $594M in gross gaming revenue in its first full year of regulated sports betting. The Bay State is home to six online sportsbooks that combine for more than 1.6 million active accounts. https://t.co/NC4hqscDHF
Sports betting has become increasingly popular in the U.S. But it has also introduced a greater attack surface for money laundering, as one crew allegedly moved millions through one sports betting platform. https://t.co/yFouQi4mNP
FanDuel has led the charge in legitimizing the surging popularity of sports betting in the U.S. But it has also introduced a greater attack surface for money laundering, as one crew allegedly moved millions through it. https://t.co/yFouQi4mNP
The US sports betting is coming under fire from multiple directions. In today's feature column, I look at five threats the industry is facing as lawmakers, regulators, the media, and the public question the rapid spread. Read and subscribe here: https://t.co/YyzRCyEqPP
‘How a Money Laundering Crew Allegedly Moved Millions Through FanDuel’ - new piece for 404 Media and Court Watch by @josephfcox https://t.co/SC34Jk47Wa
New: A money laundering crew cleaned millions of dollars through FanDuel, the FBI alleges. Widespread sports gambling ...... what could go wrong? https://t.co/hsNCPryqf1
New from 404 Media: a money laundering ring allegedly washed millions of dollars through the popular betting service FanDuel. As sports betting has opened to fans in U.S., it's also a money laundering risk. Wild story with connection to hackers too https://t.co/aRwufoDm7F
The sports betting whirlwind spirals inevitably to new and established markets alike, bringing with it a storm of wagering activity. In the eye of the cyclone sit trading teams - dedicated groups of professionals pulling the strings to keep sportsbook operations afloat amidst…
Sports betting should be legal, but pro leagues and major networks are undermining the value of sports in a bid to get in on the action, @jaycaspiankang writes. https://t.co/g79lpJtvOW
Thirty-eight states and D.C. allow sports betting, spawning a proliferation of mobile betting apps and online sportsbooks representing a growing, multibillion-dollar industry, the Editorial Board writes. "It’s also spawning a culture of addiction." https://t.co/pM4n5QaAQY
"Betting on the news may be the next phase of America's gambling obsession." https://t.co/SIJrp9VBgk