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Legalization Efforts Prompt the Rise of New Sports Gambling Options

Legalization Efforts Prompt the Rise of New Sports Gambling Options
Feb 15, 2021 3:40 PM ET
Legal Newswire POWERED BY LAW.COM
More states are now introducing proposals and bills to further expand sports betting under new regulations, making online sports betting legal or removing certain restrictions. As the legal system slowly becomes more friendly towards online sports betting, states around the country turn towards the young and popular industry as a means for generating stronger tax revenue and improve budgets. For example, last year the progress made in Illinois in regards to online sports betting vastly expanded the mobile wagering options available to the state s 12.7 million residents, helping the state to generate millions. According to data from Odds.com, which was published by Forbes, Illinois was poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition. The 15% tax impose ....

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An Updated Legal Structure Helps Expand Online Betting Options

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 ....

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FansUnite Enters into Partnership with OneComply to Assist with U.S. Licensing Strategy

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. ....

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