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Category: News
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MLB Raises Children’s Gambling Risks With Polymarket Deal
MLB’s gambling deal with Polymarket heightens the risk of minors being drawn into sports gambling. On March 19, MLB announced a partnership with the online betting platform. The company is a federally certified prediction market that facilitates yes/no-style sports betting. It advertises its product as available for users 18+. Earlier this week, an Argentinian court…
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Former NBA Agent’s MGM Gambling Debt Case Moves Forward
Protect yourself at all times in a casino. The Nevada Current reported that a Californian man scored a legal win in his years-long court fight against MGM, one of the world’s largest casino companies. The case involves millions of dollars in gambling losses while allegedly under the influence of drugs and alcohol. Judge says MGM’s…
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Minnesota Could Jail Prediction Market Operators Under New Bill
A new bipartisan bill in Minnesota is arguably the most restrictive proposal in the U.S. to date regarding prediction markets. Rather than regulate prediction markets, Minnesota would criminalize them. In December, bill sponsor Sen. John Marty (40, DFL) told GamblingHarm.org that a bill was in the works. “We must stop prediction markets from taking over…
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House-Money Effect In Sports Gambling Raises Risks, Study Finds
The house-money effect applies to online sports gambling, as a new study measured how much bettors raise their stakes after a win. “On days following a win, bettors also increase the size of their stakes by 41.1%, suggesting a house-money effect in which recent gains are perceived as disposable,” wrote researchers. The Australian paper, published…
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Online Sports Betting Legalization Causes Spike In Binge Drinking
A new study found that state-sanctioned online sports betting caused a 10% increase in binge drinking frequency among some men aged 35 and younger. Researchers found an “intensive margin effect,” meaning that binge drinking increased among already heavy drinkers in the male age group. “For me, the findings were broadly consistent with what we suspected…
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