New York sports betting achieved unprecedented revenue figures in July, sports betting gamblers experienced significant losses during this period, contributing to record-breaking operator revenues that defied typical summer seasonality trends. The surge came as World Cup betting activity drove exceptional wagering volumes during a traditionally slower period for the industry. At this time, major operators capitalized on the heightened engagement, with FanDuel and DraftKings leading the competitive landscape.
The New York Gaming Commission reported eight online sportsbooks generated gross revenue of USD 214.40 million from a USD 1.88 billion handle in July. This 11.4% hold represented more than double June’s rate, when operators faced challenging market conditions. The performance marked the first time operators produced at least USD 200 million in gross revenue during July since wagering launched in January 2022.
Sportsbooks captured over USD 97 million more in July compared to June, driven by back-to-back weeks of at least USD 63 million in profits. Year-over-year revenue spiked 37.8%, demonstrating significant growth from the previous July’s performance. The double-digit win rate combined with substantial wagering volume helped the Empire State collect USD 109.30 million in tax revenue for the month.
As a result of the strong July performance, the year-to-date tax revenue total surpassed USD 725 million. The recovery from June’s lower hold percentage demonstrated operator ability to capitalize on favorable betting outcomes during a period when World Cup action supplemented traditional summer sports offerings. New York sports betting operators benefited from improved margins while maintaining substantial handle figures throughout the month.
World Cup Betting Drives Unprecedented Summer Action
The 2026 FIFA World Cup served as the primary catalyst for July’s exceptional performance. Hosted across the United States, Mexico, and Canada, the tournament featured 48 teams competing in 104 matches throughout the month. Spain defeated Argentina 1-0 in the final on July 19 at New York New Jersey Stadium, with Ferran Torres scoring in the 106th minute after a 0-0 regulation draw.
Hard Rock Bet Senior Vice President Neil Walsh characterized the event’s magnitude, stating the World Cup represented “the equivalent of 10 Super Bowls” and called it “the biggest betting event in American history”. Caesars Sportsbook reported the final generated handle nearly 65% higher than the company’s previous tournament record. In fact, the match set new Caesars records for total handle, total wagers, and unique bettors.
Betting outcomes heavily favored operators. Argentina attracted the bulk of action in both three-way moneyline and To Lift The Trophy markets. The scoreless regulation period eliminated all three-way moneyline bets on either team, while Spain’s overtime victory wiped out Argentina futures positions. SuperBook Vice President John Murray described the result as “about our best-case scenario”. Circa Sports Director Jeff Benson called it “a nice bonus for what otherwise would be a slow summer”.
FanDuel and DraftKings Lead Operator Performance
FanDuel and DraftKings maintained their stranglehold on New York sports betting during July’s record month. FanDuel dominated bettors behind a 13.2% win rate, generating state-high gross revenue of USD 86.10 million on a USD 651.20 million handle, double what the operator made in June. DraftKings led all online New York sports betting operators for the second consecutive July with a USD 661.50 million handle, while its 11% hold generated USD 72.90 million in gross revenue, second among the state’s operators.
The two platforms command 44% and 34% of the market respectively, holding approximately 80% of the U.S. sports betting market combined. DraftKings holds about 32% market share nationally.
Fanatics fell just shy of a double-digit hold, but the online sportsbook won USD 21.10 million in July, a 129% month-over-month increase, on over USD 221.00 million in wagers. BetMGM won back 11.3% on a USD 138.30 million handle, while Caesars reached a hold of 9.3% on USD 122.60 million in wagers. The competitive landscape demonstrated clear separation between the market leaders and secondary operators during the World Cup-driven betting surge.
August 10, 2026
New York Sports Betting Revenue Hits Record High as Bettors Lose Big in July
Tabcorp Snaps Up Wagering Tech Provider BetMakers in $200 Million Deal
Tabcorp Holdings has announced on Monday that it will acquire BetMakers Techology Group, the B2B technology firm for AU$267 million (US$189 million) through a Scheme of Arrangement, with cash consideration of AU$0.24 per share implying an equity value of approximately AU$283 million (US$200 million) on a fully diluted basis. Notably, the transaction will result in a maximum issuance of 70.7 million Tabcorp shares, representing 3.1% of current shares outstanding. The deal aims to deliver significant operational benefits, with Tabcorp targeting AU$30 million in run-rate cost synergies by the end of year two. The acquisition is projected to be earnings per share accretive from year two and double-digit EPS accretive from year three.
Tabcorp Acquisition Details: $200M Deal Structure Unveiled
Under the binding agreement, BetMakers shareholders receive the cash consideration as default payment, with premiums of approximately 41%, 42%, and 37% against the company’s one-month, three-month, and six-month volume-weighted average prices, respectively. The offer price represents a substantial uplift from recent trading levels, positioning the transaction as a significant liquidity event for BetMakers investors.
Shareholders may elect to receive part of their consideration in newly issued Tabcorp shares instead of cash, subject to a 25% cap on total transaction consideration. The scrip alternative prices new Tabcorp shares at AU$1.00 per share, representing approximately a 12% premium to the operator’s last close. At maximum election levels, Tabcorp would issue up to 70.7 million new shares.
The BetMakers board has unanimously recommended the scheme, provided no superior offer emerges and an independent expert concludes the arrangement serves shareholders’ best interests. Directors controlling around 10% of shares have indicated they will vote in favor on the same basis. Mutual break fees of AU$2.83 million apply to the transaction.
Completion requires shareholder and court approval, clearance from the Australian Competition and Consumer Commission, consents from gaming and racing authorities, and other regulatory conditions. Implementation is anticipated during Q3 FY27. Tabcorp puts pro forma net leverage at roughly 1.9 times as of December 2025, comfortably inside its 2.5 times ceiling.
How Will This Transaction Accelerate Tabcorp’s Wagering Strategy?
The Tabcorp acquisition advances three strategic pillars that reshape the operator’s competitive position. The transaction accelerates technology modernization by transitioning to a cloud-native wagering platform, leveraging BetMakers’ successful transformation over the past two years. This shift enhances product innovation, user experience, and operational efficiency while establishing a global B2B growth engine that combines complementary assets in wagering, media, and technology.
Gillon McLachlan, Tabcorp Managing Director and CEO, stated that BetMakers “has undergone a significant transformation over the past two years and built impressive wagering technology and a talented team”. Accessing these capabilities will fast-track product ambitions, particularly for the company’s media and tote offering.
The integration targets operational efficiencies through specific mechanisms: rationalization of data centers and technology contracts, replacement of existing platforms with BetMakers solutions, and streamlining corporate support functions. Besides the AU$30 million cost synergy target, the combination creates incremental revenue growth potential within existing media and tote assets.
BetMakers CEO Jake Henson emphasized the shared vision: “Bringing together Tabcorp’s rights, content and relationships with BetMakers’ platforms, data and B2B wagering services will create a more complete and compelling global offering for our customers”. The financial structure maintains balance sheet strength, with pro forma leverage at approximately 1.9 times.
What Do Industry Leaders Say About the Merger?
Both companies’ leadership expressed confidence in the strategic alignment underlying the Tabcorp acquisition. Gillon McLachlan highlighted that the transaction “will accelerate our strategy across multiple areas,” noting BetMakers’ “significant transformation over the past two years”. The former AFL boss characterized the combination as creating “a differentiated offering that will unlock growth and deliver attractive financial returns”.
McLachlan positioned the deal within Tabcorp’s broader evolution, stating the company remains “midway through its strategic transformation, with strong foundations established”. The acquisition provides “an excellent opportunity to accelerate our ambitions”, particularly as BetMakers brings “impressive wagering technology and a talented team” to enhance capabilities.
Similarly, Jake Henson endorsed the merger’s rationale, emphasizing alignment between organizations. “Having spent time with the Tabcorp team, it is clear we share a common purpose: to build a market-leading global wagering and media business”, the BetMakers CEO stated. Henson framed the integration as complementary, with Tabcorp contributing “rights, content and relationships” while BetMakers adds “platforms, data and B2B wagering services”.
August 06, 2026
Betfred Announces Closure of 132 Shops Affecting Over 600 Jobs
The bookmaker confirmed the restructuring through an official statement to employees and stakeholders. Betfred’s decision marks a significant downsizing of its retail estate, which previously consisted of more than 1,300 shops nationwide. Consequently, the closure of 132 locations represents roughly 10 percent of the company’s physical presence.
Affected employees received notification through formal consultation processes. The job cuts span various roles within the retail operations, including shop managers, betting assistants, and support staff. Betfred stated that it would work with impacted workers to explore redeployment opportunities where possible within remaining locations.
The closures will occur gradually over the coming months rather than simultaneously. This phased approach allows the company to manage the transition while minimizing disruption to both employees and customers. Specifically, shops in areas with lower customer traffic and higher operating expenses face closure.
The announcement follows similar moves by other major betting operators who have reduced their high-street footprints. Betfred emphasized that the decision reflects necessary adjustments to its business model rather than financial distress. The company maintains that its remaining shops, alongside its growing online platform, will continue serving customers effectively while operating more efficiently.
Jo Whittaker, chief executive of Betfred, said: “We have tried hard to protect all our sites and the colleagues who work in them.
“But the combined impact of higher employer national insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty has left us with no choice.
“These are well-run shops, staffed by dedicated colleagues, and it is incredibly hard to see any of them close, but the current fiscal and regulatory environment has made it impossible to keep trading all our shops.
“Our priority now is to support the colleagues affected, and to continue serving customers and communities across the rest of our estate.”
August 03, 2026
Kalshi and Polymarket's combined volume reaches all-time high in July, surpassing $50 billion
According to The Block's data dashboard, Kalshi, Polymarket, and Polymarket US posted $50.59 billion in combined monthly trading volume in July, marking a 7.8% increase from June's $46.95 billion monthly volume.
Kalshi remained in the lead, and recorded $37.7 billion in the past month. This marks a 14% month-over-month growth.
Notably, the monthly data indicates a shift in volume between Polymarket and Polymarket US. While Polymarket's monthly volume contracted 26% to $7.9 billion, the U.S. platform saw its volume rise 54% to $5 billion. The combined volume of Polymarket and Polymarket US decreased from $14 billion to $12.9 billion.
The U.S. platform, regulated by the Commodity Futures Trading Commission, dropped its initial waitlist restrictions in May, opening the platform to all U.S. users. This allowed U.S. traders who had previously bypassed regional blocks to participate legitimately on the platform.
Earlier this year, Rutgers University statistician Harry Crane estimated that U.S. traders drove about 30% of Polymarket's main, offshore platform volume during the 12 months ending April 30, 2026.
World Cup boost
July's overall surge in volume can be attributed to the FIFA World Cup, which started on June 11 and ended on July 19. Kalshi's prediction market on the final match between Spain and Argentina alone drew roughly $1.9 billion. Polymarket's bet predicting the World Cup winner attracted around $4 billion.
Since the end of the World Cup, however, open interest on the three prediction market platforms has dropped significantly, from around $2 billion at the start of July to $1.2 billion by the end of the month.
Despite growing activity and legitimacy, prediction markets continue to face U.S. legal scrutiny, primarily over sports-related contracts.
Over a dozen state regulators have accused Kalshi and Polymarket of operating unlicensed gambling platforms, taking action to block event contracts in their respective states. In response, the platforms — alongside the CFTC — are contesting these state enforcement actions, arguing that federal oversight preempts state jurisdiction.
July 06, 2026
Stakelogic BV to pay £122,835 for running slots too fast
The UK Gambling Commission (UKGC) have announced a penalty to Stakelogic for breaching product design errors. See the official announcement from the UKGC below:
Stakelogic BV, which runs games on other operator’s websites and apps, ran slots games faster than the minimum time gap of 2.5 seconds between spins.
An investigation was launched after Stakelogic reported to the Commission that its game Tiger Temple 88 was found to have operated with 1.97 seconds between spins, breaching the minimum time standards.
Following a Commission investigation, the Licensee conducted re-testing of its entire portfolio of games offered to the GB market. This revealed that a further 15 games were found to be in breach of the minimum time gap requirements.
These games were found to be between 0.001 seconds to 0.675 seconds below the minimum 2.5 seconds standards, with many found to have operated at 0.042 seconds or below the cycle requirements set out in the Commission’s Remote Technical Standards (14D).
Tiger Temple 88 was non-compliant between 28 May 2025 to 30 May 2025 and the remaining 15 games were running too fast during various periods between 31 October 2021 and 30 October 2025.
During the Commission investigation it was revealed the errors were caused because Stakelogic were measuring the timeframes inaccurately due to their reliance on using a manual stopwatch to test compliance with the remote technical standards.
John Pierce, Director of Enforcement and Intelligence, said: “With all the technological resources available to an online gambling business, it is unacceptable that Stakelogic were relying on a manual stopwatch to measure the speed of their games.
“After reporting this error to the Commission, Stakelogic immediately self-suspended the use of the affected games until the error had been rectified. They have subsequently taken significant steps to assure the Commission that they now have robust policies and procedures in place to prevent future breaches from occurring.
“We would urge all operators to take careful note of this case and ensure they have effective testing practices in place to ensure they are meeting all the standards we require.”
Minimum online slots speeds were introduced in 2021 as part of a wider package of measures designed to reduce the overall intensity of gameplay and protect consumers from harm. Research showed that fast game cycle speed is associated with increased risks to the consumer.
Stakelogic will pay the money as part of a regulatory settlement with the Commission
July 03, 2026
Spotify Pulls Streams On a Hit Song Over Alleged Fraud Tied to Kalshi Betting
Spotify has removed about 500,000 streams from Malcolm Todd’s hit song “Earrings” days after the song topped the platform’s daily U.S. chart for the first time, as its surge has been tied to manipulation based around bets on the prediction market Kalshi.
Spotify has asked both Kalshi and Polymarket to remove its logos from their websites, further underlining that the streaming service has never had a partnership with either company.
“All streaming services face ever-changing stream manipulation,” the company said in a statement. “Spotify has best in class detection and mitigation practices for manipulated streams, and we don’t pay out associated royalties.”
As of this story’s publication, there’s no suggestion Todd or his team was affiliated with the streaming manipulation. Todd is one of the industry’s fastest-rising acts, and “Earrings” has been floating within the top 5 of Spotify’s daily U.S. chart for weeks, which helped the song in being a ripe target for manipulation from bettors. On Sunday, the song was sitting at Number Four on Spotify’s daily chart, and by Monday, the song hit Number One. The Financial Times reported that the daily jump represented a 70 percent climb. “Earrings” has stuck at Number 3 on Spotify’s chart for the past two days.
A Spotify source told THR that given the activity, Spotify would be “adding additional checks to the charts before they’re published.”
A representative for Kalshi said that “we’re in touch with Spotify and are actively investigating this matter.”
The incident reflects potential broader industry-wide issues that could be surfacing as prediction markets have turned the entertainment business’s charts into bonafide betting lines. As of this story’s publication, Kalshi lists dozens of different props based on results for charts from Spotify and Billboard. The streaming services had already seen some level of attempted chart manipulation for years in both more nefarious fraud schemes as well as stan armies trying to help their favorite acts top the charts. The notion that the average music listener can now profit on results they have a chance to manipulate only further incentivizes the activity.
Outside of the music charts, earlier this year a MrBeast editor was accused of insider trading over the YouTuber’s videos on Kalshi.
Still, while issues abound, the prediction markets are seeking to further embed themselves into Hollywood. Polymarket entered into a partnership with the Golden Globes earlier this year, and Kalshi has struck deals with the likes of CNN, CNBC and Fox News.
July 02, 2026
Grim New Prediction Market Lets Gamblers Bet on Raging Wildfires
Ever wanted to role play a claims adjustor in Southern California? Now you can — with Wyldfyre, the world’s first standalone prediction market dedicated to wildfire risk.
Even more than usual, this summer promises to be hot, dry, and primed for horrifying wildfires throughout North America and beyond; families are already fleeing deadly blazes in California. With mainstream prediction markets like Kalshi shying away from wildfire bets amidst growing scrutiny, it stands to reason that there’s money to be made for anyone willing to lower their scruples even further — every crisis is an opportunity, after all.
Unlike more general-purpose prediction market services like Polymarket, Wyldfyre is built entirely around forest fires, per High County News, which first spotted the gambling site. “You can’t predict fire,” the site’s vibe-coded splash page announces, “but you can trade on it.”
Essentially, Wyldfyre promises to be the “first prediction market for California wildifre.” Every county, city, and region is “priced in real time” through a combination of satellite data, live data from first-responders — and, of course, the wisdom of the crowd, the site explains.
Acknowledging that there are 7,000+ fires each year in California alone, Wyldfyre promises to turn “collective intelligence into better wildfire forecasting — one trade at a time.”
Though Wyldfyre only offers simulated bets at the moment — “paper trading now, real money coming soon,” the website currently declares — the shell site is a potent microdose of the growing prediction market industry.
At face value, the site’s creator would have you believe Wyldfyre is some sort of public service, allowing unparalleled access to Johny Public’s collective wisdom on wildfires, as if that were somehow a useful metric for forecasting wildfire activity. The reality is that gambling on the outcome of such a specific event introduces a perverse incentive to create the conditions that fulfill a person’s bets. In other words, allowing somebody to wager on whether a major fire will break out in their neighbor’s yard gives them a strong financial reason to go set their neighbor’s yard on fire (and really, in a dog-eat-dog economy like ours, it’d be irrational not to.)
Outside the gambling world, nobody seems very keen on the idea. “Systems that tie financial gain to wildfire outcomes risk encouraging misuse, including arson, and are not compatible with our mission,” a US Forest Service spokesperson told High County.
With swelling inflation, a major housing crisis, and rising layoffs, it’s no secret that the economy is coming apart at the seams. If prediction markets like Wyldfyre have their way, struggling workers might soon find that striking a match is all it takes to get into the green — an indictment on both an economic system that’s driven millions to the breaking point, and on the bottom feeders who’ve decided that climate catastrophe is nothing but a yet another financial opportunity to be tapped.
Zuckerberg asks Meta to explore working with Polymarket and Kalshi
The social media company's executives have said Arena, Meta's new prediction market app under development, will differ from Polymarket and Kalshi, which accept real-money wagers, because it will instead rely on video-game-like "points", the report said.
Prediction markets surged in popularity during the 2024 U.S. presidential election and have evolved into an asset class that lets investors wager on a variety of events, from monetary policy to sports tournaments.
But they have also drawn increasing scrutiny as well-timed trades ahead of U.S. President Donald Trump's major policy surprises have potentially led to millions of dollars in profits for unknown traders.
Zuckerberg's target demographic for Arena is 18- to 34-year-olds and Meta is aiming to reach at least 100 million monthly active "predictors" for the app, according to the report.
Arena is being tested internally and may not be released, the report said, adding that Meta plans to eventually integrate parts of Arena into Facebook and Messenger.
The Times first reported on Tuesday that Zuckerberg recently dispatched a small team at his company to create a smartphone app similar to Polymarket and Kalshi.
June 26, 2026
Prediction market giant Polymarket confirmed that hackers stole funds from an unspecified number of users after a third-party breach
As of Thursday afternoon, it’s unclear exactly what happened.
When reached by TechCrunch, Polymarket spokesperson Connor Brandi confirmed that the breach led to users’ funds being stolen but declined to provide more information, and did not respond to specific questions about the incident.
Around the same time as the Polymarket post, blockchain monitoring firm PeckShield reported on X that a phishing campaign was targeting Polymarket users. According to PeckShield, hackers had stolen around $3 million worth of cryptocurrency.
A blockchain analyst also reported similar losses and claimed that the funds were stolen from more than 11 victims.
Polymarket offers users the possibility of being paid in cryptocurrency.
In the last couple of days, two people on social media claimed to have had their Polymarket funds stolen.
The hack is the latest blow for a company that has been in the headlines for the wrong reasons this week. On Sunday, an investigation revealed that Polymarket had paid online creators to post deceptive videos showing they won lucrative bets that were actually fake. In response, the company said it would audit its promotional content.
June 18, 2026
World Cup player Elye Wahi arrested for alleged fixing offences on eve of tournament
Elye Wahi, the Ivory Coast footballer who is playing at the 2026 World Cup, was arrested on suspicion of fixing offences less than two weeks before the tournament.
Sources with knowledge of events, who like others spoke anonymously as they were not authorised to do so publicly, confirmed the 23-year-old is the subject of an active investigation, which is seeking to establish whether Wahi, while playing for his club side Nice, deliberately earned a yellow card against Metz on May 17.
Wahi was subsequently arrested by French police on May 29, immediately after starring with two goals in a win over Saint-Etienne that kept Nice in Ligue 1, France’s top division.
He has subsequently travelled to the United States for the World Cup and started in Ivory Coast’s 1-0 over Ecuador on Sunday in Philadelphia, hitting the bar in the second half. Ivory Coast’s next game is against Germany in Toronto on Saturday.
A spokesperson for the Marseille public prosecutor’s office said on Tuesday: “We can confirm that a 23-year-old football player, competing in France’s Ligue 1, was arrested on May 29 as part of an investigation opened by the Marseille public prosecutor’s office into allegations of organized fraud, organized sports corruption, handling of proceeds of crime and money laundering.
“He was released after he was interviewed in police custody. The investigations remain ongoing. The football player is not a member of the French selection taking part in the World Cup.”
According to multiple sources with knowledge of the case, who spoke anonymously so that they could discuss the allegations candidly, the probe began after the Ligue de Football Professionnel (LFP), the governing body that runs the domestic game in France, received several notifications of suspicious betting patterns in Nice’s Ligue 1 fixture against Metz, involving wagers on Wahi to receive a yellow card.
The practice of manipulating events within a game is known as spot-fixing.
The LFP confirmed they had been alerted to “an unusual volume of bets relating to a booking involving the player Elye Wahi.”
A statement on Wednesday read: “At this stage, and in view of the ongoing proceedings and the associated confidentiality requirements imposed on it by the police authorities, the LFP will not make any further comment and has not initiated any disciplinary proceedings. It reserves the right, however, to do so depending on how the investigations progress.
“The LFP reiterates that it remains fully committed to safeguarding the integrity of its competitions and that it will take the strongest possible action against any behaviour likely to compromise it.”
Wahi was included in Ivory Coast’s World Cup squad on May 15, four days before the Metz fixture.
In that match, Wahi received a yellow card in the 35th minute after a late tackle on Metz defender Sadibou Sane. He had previously committed a foul two minutes earlier, when sliding in on full-back Bouna Sarr, though that challenge did not result in a caution.
Following that booking, Wahi was suspended for the first leg of Nice’s relegation play-off against Saint-Etienne on May 26, having picked up five yellow cards over the course of the Ligue 1 season. With Wahi watching on from the stands, Nice drew 0-0 away from home.
Wahi returned to the starting line-up in the second leg three days later — starring in a 4-1 home victory in which he scored two goals and was named man of the match.
He was subsequently arrested by anti-corruption specialists in the French police.
Wahi has not been charged with any crime as the investigation continues and subsequently travelled to North America for the World Cup.
The striker previously represented France at youth level before switching allegiance to the Ivory Coast in March this year.
Wahi played 55 minutes at striker against Ecuador, linking up well with man of the match Yan Diomande before hitting the bar two minutes before his substitution. He was replaced by Inter Milan forward Ange Yoan-Bonny, with Manchester United’s Amad Diallo scoring a 90th-minute winner.
FIFA did not respond when asked if it was aware of Wahi’s arrest prior to the striker playing on Sunday or whether the arrest would affect Wahi’s eligibility to play or to travel.
Wahi is due to travel to Canada for the Ivory Coast’s match in Toronto on Saturday against Group E leaders Germany. Canada this week denied entry to Ghana’s Thomas Partey for reasons related to rape charges against him in the UK, which he strongly denies.
Born on the outskirts of Paris in 2003, Wahi originally spent time at the Caen academy before breaking into Ligue 1 with Montpellier in the 2020-21 season. He subsequently played for fellow French sides Lens and Marseille before joining Bundesliga team Eintracht Frankfurt at the start of last season.
After a goalless first half of the season in Germany, he joined Nice on loan in January, helping keep the club in Ligue 1 with five goals in 14 league appearances.