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Prediction market operators are on legal losing streaks, confirming that Beynon is onto something when he says the regulatory environment is the biggest risk facing the industry.
“We continue to view regulation as the largest risk to prediction markets,” says the analyst. “While industry growth remains robust, adverse legal outcomes could materially impact sports contract availability and long-term adoption.”
Amid a string of losses in federal appellate courts, it appears increasingly prediction markets are angling to take their cases to the U.S. Supreme Court, banking that the high court will allow them to continue offering sports event contracts free of state gambling regulations.
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“And what better place to demonstrate that commitment than through player protection? The Africa Safer Gambling Week is our collaboration in action.”
On Monday, the AiA announced it had signed a memorandum of understanding (MoU) with the Association of Nigerian Bookmakers to establish closer ties on matters both in Nigeria and across Africa.
The MoU will explore opportunities for collaboration on areas such as safer gambling, player protection and taxation.
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Joey Feazel, head of football at Caesars Sportsbook, told Casino.org that favorites, Overs, and anytime touchdown scorers combined to create a bettor-friendly trifecta. Bettors only faced major resistance when the Los Angeles Chargers were upset by the Arizona Cardinals.
However, LSR noted that traditional game outcomes are no longer reliable indicators of bookmaker profitability, largely due to the rapid growth of same-game parlays and player props.
In the Las Vegas-based Circa Survivor contest, which drew over 25,000 entries entering Week 1, more than 8,000 entries were eliminated in the opening slate—most knocked out when the 8.5-point favorite Chargers fell to the Cardinals. That upset served as a proxy for the wider market, ruining countess parlay tickets across major sportsbooks.