Recent content by morgan_c

both figures are out there. the announcement in the spring said around 200 from may, the results last week say 270. either they've closed more than they said or the two numbers are counting different things i'm not going to pretend i know which

@wagerwinner bally's intralot is athens based, formed when intralot bought bally's international interactive last year. bally's corporation are the majority holder so theres american money behind it but the entity isn't american on the sold on again point, their CEO said publicly there's no plan...

thats not how it works. duty is on the operators gross gaming yield, stakes minus what they pay back out. it never touches your deposit. HMRC bills the operator, not you. so the reason you feel it anyway is that they recover it somewhere, and the two places they can reach are bonuses and RTP

commercial reality is that most of these states banning sweeps have no intention of legalising online casino. more like land based casino lobby and the tribal gaming interests in a lot of these states actively oppose online gambling because it competes with their physical properties. so the...

@Arn0ld broadly correct but it doesn't scale to the structure of esports. on tier 2 scene has thousands of players across dozens of games and regions generating betting volume. there's no model where all of them earn enough to be incorruptible, because the events they play in generate almost no...

economics explain why this concentrates in esports specifically. traditional sports have decades of integrity infrastructure, established monitoring, players earning enough that the risk calculus discourages fixing. esports has none of that maturity, huge betting volume, and a labour force where...

there's a market structure consequence nobody has raised. as if event contracts on geopolitical or corporate events carry genuine insider risk, the liquidity providers have to price it. either the platforms stop listing those markets, or they list them and spreads widen to compensate for the...

worth being careful in both directions there. the rebuttal came from someone on the platform side with an obvious interest in the number being smaller, same as bloomberg has an interest in it being big. neither is neutral. substantive point in the rebuttal is fair though. a leaderboard...

mechanically: a bookmaker sets a price, takes the other side, profits from the margin built into that price. an exchange matches you against another participant and takes a commission. no position in the outcome. legally in the us the argument is that an event contract is a derivative. you buy a...

driven by what @HughRoller said. limited and restricted accounts flowing to a venue that structurally cannot limit them. kalshi is an exchange. you're matched against another trader, not against the house. the platform takes a fee on volume. a winning participant is a revenue source, not a...

yeah, documentation burden didn't change but the stakes for accurate documentation increased. every un-documented session is now more expensive than it was in 2025

and obviously offshore migration is what we get as the result. professional and high-volume bettors are now facing genuine financial incentive to move volume to platforms that don't feed W-2G data to the IRS. not saying people are doing it. saying the incentive structure changed in a meaningful...

yea province estimates 70% of igaming in alberta is currently happening on unregulated grey market sites. that's roughly $500M+ per year that's been flowing to curacao-licensed operators with no provincial tax contribution. the launch is primarily a tax capture mechanism as much as a consumer...

operator economics are more player-friendly than ontario's model. alberta operators keep approximately 77.6% of net revenue after the 20% provincial tax and first nations contribution deductions. ontario runs at 20% revenue share with iGO on top of provincial obligations. means better potential...

this world cup has effectively been the largest single validation event for legal us sports betting since it launched. 39 states legal now vs 19 in 2022. every state that legalized between 2022 and 2026 is collecting tax revenue on world cup handle that previously went entirely offshore...