An Updated Legal Structure Helps Expand Online Betting Options
FinancialBuzz.com News Commentary
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NEW YORK, Feb. 3, 2021 /PRNewswire/ Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Both have proved to be a pandemic proof segment. The sports betting segment in particular has benefited from a continuously improving and friendlier legal infrastructure. For example, a report by the Chicago Sun-Times indicated that New Jersey gamblers set a nationwide record for the most money bet on sports in a single month, spending almost USD 668 Million in August on events including resurgent baseball, basketball and hockey seasons that had been interrupted by the outbreak. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in J
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Over the last decade, observers have noted that states have begun to play a greater role as regulatory enforcers a trend that increased with the federal regulatory rollback that began with the advent of the Trump administration.
Within the last couple of years, localities, including counties, cities and towns, have joined the states in flexing their muscles as key players in areas of regulatory enforcement traditionally dominated by the federal government. By enacting their own statutory protections, performing their own investigations independent of their federal counterparts, or pursuing overlapping litigation against potential violators, states and now localities are becoming an increasingly important source of regulatory authority.
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STOCKHOLM, Jan. 19, 2021 /PRNewswire/
The U.S. subsidiary of Gambling.com Group Plc ( Gambling.com Group ), KAX Media America Inc., has completed the application process and has been issued a sports betting vendor registration by the Virginia Lottery to provide marketing services for licensed operators in the state.
Close neighbor to professional teams in Washington, D.C., Virginia and its dedicated sports fans provide the Group with another opportunity to expand its U.S. services. With a population of roughly 8.5 million people Virginia has the foundation to become one of the fastest-growing regulated sports betting markets in America.
FansUnite Enters into Partnership with OneComply to Assist with U.S. Licensing Strategy
FansUnite Entertainment Inc. and Vancouver-based OneComply Inc. have entered into a partnership. OneComply, a compliance and licensing solution, will assist FansUnite as they enter additional North American legalized gaming jurisdictions by advising on protocol and strategy.This move follows the June 2020 announcement by FansUnite of the amalgamation with Vancouver-based Askott Entertainment Inc. to create one of …
FansUnite Entertainment Inc. (CSE: FANS) (OTCQB: FUNFF) (“FansUnite” or the “Company”) and Vancouver-based OneComply Inc. (“OneComply”) have entered into a partnership. OneComply, a compliance and licensing solution, will assist FansUnite as they enter additional North American legalized gaming jurisdictions by advising on protocol and strategy.