08.15.2022. Daily highlights
Movement in FanDuel-branded retail sportsbook license in Las Vegas.
Nevada Gaming Control Board (NGCB) approved FanDuel’s initiative to move forward with the Boyd-partnered project. This project would allow FanDuel, with its partnership with Boyd Gaming, to introduce the FanDuel Sportsbook brand at Boyd’s Fremont Hotel and Casino property (Nevada). Final agreements will happen on August 25, and afterward, FanDuel and Boyd will officially start the rebranding of the Fremont retail sportsbook. The renovated venue will display FanDuel’s branding, however, playing through four betting windows and seven kiosks will be run by Boyd, which uses the IGT platform. IGT is also one of FanDuel’s technology partners. This will be FanDuel’s comeback after receiving a cease-and-desist order from the NGCB in 2015 for offering daily fantasy sports (DFS) without a license. If approved on August 25, this will continuously highlight FanDuel’s victory in its ongoing competition with DraftKings. Read our FanDual Casino nj review here!
Las Vegas resident charged $8.5m through a Ponzi-style scheme linked to sports betting.
A 49-year-old man was charged with defrauding more than 70 investors through a Ponzi scheme. Matthew J. Turnipseede was officially charged with 12 counts of wire fraud and one count of mail fraud between March 2015 and March 2021. Turnipseede shortchanged 72 investors through the scheme, which promised double-digit profits from investing in sports wagering businesses. During this time, victims were convinced to invest money in Turnipseede’s companies: Edgewize LLC, Moneyline Analytics, Moneyline Analytics Dublin Branch, and more.
He lied that the investor funds would be used to make sports bets under an algorithm that generated definite returns. As it turns out, instead, he used the money to maintain the business and find more ways to get investors and live a wealthy life, including sponsoring family vacations to Disneyland and Hawaii, spa treatments, multiple vehicles, and country club membership fees. To maintain the fraudulent plan, Turnipseede periodically emailed financial statements to victims showing gains on their investments and employed an accounting firm to generate IRS forms. This ongoing case was investigated by the FBI and is being prosecuted by Ohio Assistant US Attorneys, and the defendant is entitled to a fair trial where the facts have to be proved.
Betr partnership with Hall of Fame Resort & Entertainment Company
Betr, the new micro-betting business created by Simplebet co-founder Joey Levy and social media personality Jake Paul, has joined Hall of Fame Resort & Entertainment Company (HOFV). They have signed a 10-year agreement where Betr will become the official mobile sports-betting partner of HOFV, subject to securing the necessary licenses.
To add, HOFV will gain a limited equity interest in Betr, as well as have access to revenue sharing and opportunities for cross-marketing, branding, and engagement with consumers. Quoting HOFV president and chief executive Michael Crawford, “This new partnership amplifies two of our key business verticals in gaming and media to further our strategic goal of continually creating new and unique sports content and experiences for our fans and guests to enjoy.” He explained that Betr positions HOFV to gain the licenses to impact the mobile betting industry and will drive meaningful value for their stakeholders.
As per Betr chief executive Levy:”Our differentiated product, combined with our sports media company built for the next generation of sports fans along with HOFV’s strengths and access to unique content experiences in Ohio and throughout the country, makes us confident this will be a successful partnership,”
Read more about Betr in our previous article!
Disney betting venture with ESPN
Disney CEO, Bob Chapek, said that the company is cross-checking several platforms for the potential launch of new sports betting offering with ESPN. It’s been a while since we heard about the move into the sports betting market as ESPN was communicated as the best channel to have this joined venture.
The ongoing process was mentioned after the company announced its Q2 results. Quoting Chapek: “We have been in conversations for quite a long time now with a number of different platforms to add some utility to sports betting and take away some friction for that for our guests.”
“We have found that basically our sports fans that are under 30 absolutely require this type of utility in the overall portfolio of what ESPN offers, so we think it’s important.”
“We’re working hard on it, and we hope to have something to announce in the future in terms of a partnership there that will allow us to access that revenue stream and also make sure that our guests have their needs met.”
Disney already has a presence in the sports betting market through ESPN, which in September 2020 entered a deal with DraftKings and William Hill. Under this agreement, ESPN has been promoting DraftKings’ daily fantasy sports updates, while with the William Hill agreement, ESPN has shown the bookmaker’s betting odds.