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Business Apr 17, 2026

Richard Desmond's £1.3bn Damages Claim Over National Lottery Licence Rejected

Media tycoon Richard Desmond has lost his claim for up to £1.3bn in damages against the Gambling Co…
Richard Desmond, the media tycoon and former proprietor of the Daily Express and Channel 5, has lost his claim for up to £1.3bn in damages against the Gambling Commission. The claim was related to the regulator's decision not to award him the 10-year licence to run the national lottery.Desmond's companies, Northern & Shell investment company and the New Lottery Company, had launched a legal action against the Gambling Commission in 2022, arguing that the commission made 'manifest errors' in the process governing the UK's largest public sector contract, worth £6.5bn. The legal process was lengthy, with Desmond's costs estimated to have reached £55m by May last year.The media mogul claimed the commission's mistakes caused him to incur £17.5m of needless costs in pursuing his bid. However, he was also seeking up to £1.3bn in damages to reflect hypothetical lost earnings from running the lottery.The licence was ultimately awarded to Allwyn, a new vehicle owned by Czech billionaire Karel Komárek, which has been running the draw since 2024. On Friday, Mrs Justice Smith dismissed Desmond's claim, stating that the claimants had failed to make out any case of 'manifest error' on the part of the commission.The competition for the award of the fourth licence was found to have reached a lawful outcome. Desmond had previously failed with a separate claim that Allwyn had received an unlawful £70m marketing subsidy from the Gambling Commission.
#Richard Desmond #Gambling Commission #National Lottery licence
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Sports Apr 17, 2026

Ex-NBA Player Damon Jones to Plead Guilty in Landmark US Gambling Case

Former NBA player and assistant coach Damon Jones is set to become the first person to plead guilty…
Former NBA player and assistant coach Damon Jones is expected to plead guilty in a landmark US gambling case, marking a significant development in a sweeping investigation that has led to the arrests of over 30 individuals, including reputed mobsters and other basketball figures.A change-of-plea hearing for Jones is scheduled for April 28 in Brooklyn federal court. He faces charges of wire fraud conspiracy and money-laundering conspiracy related to two separate indictments. The first indictment accuses him of profiting from rigged poker games, while the second charges him with providing sports bettors with non-public information about injuries to NBA stars LeBron James and Anthony Davis.Jones, 49, had previously pleaded not guilty to the charges. He was arrested last October alongside Portland Trail Blazers head coach Chauncey Billups and Miami Heat guard Terry Rozier, among others. According to prosecutors, Jones sold or attempted to sell non-public information to bettors, including a tip that James was injured and wouldn’t play in a February 9, 2023, game against the Milwaukee Bucks. He also allegedly received $2,500 for a tip that Davis would see limited playing time against the Oklahoma City Thunder.In the poker scheme, Jones was among former NBA players used to lure unwitting players into rigged poker games. He was paid $2,500 for a game in the Hamptons where he was instructed to cheat. The poker scheme often made use of illegal poker games run by New York crime families that required them to share a portion of their proceeds with the Gambino, Genovese, and Bonnano crime families.Jones, who earned more than $20m playing for 10 teams in 11 seasons from 1999 to 2009, is a native of Galveston, Texas. He played alongside James in Cleveland from 2005 to 2008 and served as an unofficial assistant coach for James’s Los Angeles Lakers during the 2022-2023 season.
#jones #prosecutors #james
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Sports Apr 15, 2026

Cricket Australia’s $500 million BBL stake sale stalls as state bodies push for patience

Cricket Australia’s plan to sell up to 49% of each Big Bash League franchise for as much as $200 mi…
Cricket Australia (CA) has yet to secure the backing of two pivotal state bodies for its proposal to sell minority stakes in Big Bash League (BBL) franchises, casting doubt on the timeline for a major private‑investment push.Cricket NSW chief executive Lee Germon publicly rejected the plan on Wednesday, confirming that the Sydney Thunder and Sydney Sixers will not participate in any valuation process overseen by CA.CA chief executive Todd Greenberg responded that the consultation with states is ongoing and that the organisation remains “open to discussing any questions or concerns” while emphasizing a “respectful and collaborative” approach.The Australian body aims to emulate the UK’s The Hundred model, where the England and Wales Cricket Board (ECB) auctioned franchises last year for £520 million (≈ $1 billion). CA’s proposal would allow up to 49% of each state‑run BBL team to be sold, with potential valuations of as much as $200 million per club, potentially generating a half‑billion‑dollar windfall.Proceeds would be split between an immediate cash injection to the state associations and ongoing annual payments, while a portion would seed a future development fund for Australian cricket.Germon warned that external investors could introduce goals misaligned with the existing cricket ecosystem, describing the current system as “working very effectively and very well now.” He highlighted risks of “external investors who will not have aligned goals with the states or Cricket Australia.”Meanwhile, Cricket Queensland chief executive Terry Svenson said no final decision has been made, noting the board is awaiting further clarification from CA on several points before reaching a verdict.Facing pushback, Cricket NSW is exploring an alternative financing strategy that sidesteps equity sales. The plan focuses on boosting revenue through ticket yields, attendance, commercial sponsorships, and wagering partnerships, aiming to fund the BBL’s growth without relinquishing club ownership.When asked about the increasing reliance on gambling revenue, Germon acknowledged that wagering is already part of cricket’s commercial mix and that its role will be reassessed as part of the broader funding discussion.CA’s ambition arrives amid rising competition from emerging T20 leagues in South Africa and the United Arab Emirates, which are vying for players and audience attention during Australia’s traditional summer window.
#Cricket Australia #Big Bash League #New South Wales Cricket Association
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Politics Apr 13, 2026

Gambling Reform Advocate Calls for Pause on Affordability Checks

Dr. James Noyes, a key advocate for gambling reform, has called for a pause on the implementation o…
Dr. James Noyes, a prominent advocate for gambling reform, has urged the UK government to pause the implementation of affordability checks for online gamblers. Noyes, who initially proposed the idea of affordability checks in 2020, expressed concerns that the current pilot scheme has raised serious questions that need to be addressed before proceeding.Noyes' call for a pause echoes similar concerns raised by senior figures in the horse racing industry, which fears that the checks could disproportionately affect racing bettors and cost the industry tens of millions of pounds in revenue.The Gambling Commission launched a pilot study on financial risk assessments in September 2024 to assess a two-tier system of checks. However, Noyes and others have raised concerns over the lack of transparency and inconsistent data in the pilot scheme.Noyes emphasized that while affordability checks were initially proposed as a worthy idea, their implementation must be carefully considered to avoid impeding the majority of gamblers from engaging in a lawful activity. He also highlighted the need for a gambling ombudsman to ensure proper treatment of consumer redress and rights.A spokesperson for the Gambling Commission stated that the regulator is working on financial risk assessments with a focus on removing friction for consumers. The Commission has yet to publish a final report on the pilot and has not issued an update on its progress since the spring of 2025.
#Dr. James Noyes #UK Gambling Commission #Horse Racing Industry
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Sport Apr 11, 2026

Premier League faces £4 million sponsorship shortfall as gambling ads disappear, and a personal betting trial reveals why sport betting is built to unsettle

Barney Ronay details a five‑day experiment trying to turn £10 into £1,000 through football betting,…
Barney Ronay set out to test whether a disciplined betting strategy could turn a modest £10 stake into a sizeable profit. Over five days he managed to grow the amount to £120, a return that sounded impressive but left him emotionally flat. His experiment underscores a broader truth: sport betting is engineered to disturb and addict. The personal journey is set against a looming financial shock for English football. Nine Premier League clubs have warned they cannot replace the cash flow previously supplied by gambling sponsors, which will be barred from shirt‑front advertising next season under a voluntary industry agreement. One club executive summed up the anxiety: “Nearly everyone is losing money.” The shortfall is estimated at around £4 million for the affected clubs. These concerns arrive at a time when the gambling sector itself faces scrutiny. Recent data show that up to 1.4 million UK adults may have a gambling problem, a figure that has risen alongside the proliferation of mobile betting apps. The Guardian previously reported that the world‑champion club could incur losses of £335 million in a single season, illustrating the massive financial stakes involved. Ronay’s betting log reads like a sports‑fan’s diary. He began with a £10 wager on a Florida horse race, which paid out modestly. Subsequent bets on high‑profile matches – Manchester City versus Liverpool, Southampton beating Arsenal in the FA Cup – produced a rapid climb to £120. Yet each win felt hollow, prompting him to chase larger, riskier bets such as a four‑way accumulator on the Champions League semi‑finalists, a gamble that ultimately fell short. Beyond the numbers, the piece highlights how gambling permeates the football experience: logos dominate club kits, betting terminology infiltrates fan conversation, and promotional offers tempt even casual viewers. Ronay argues that this saturation turns a simple pastime into a “highly available, stimulating activity designed to hook” users, exploiting the brain’s natural reward pathways. In concluding, Ronay stresses two take‑aways. First, the industry’s promise of “extra money” for clubs is a façade – the money only comes out of fans’ pockets. Second, the impending £4 million sponsorship gap may actually serve as a catalyst for sensible self‑regulation, forcing clubs to reconsider reliance on gambling revenue.
#you #gambling #there
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Sport Apr 08, 2026

British Horseracing Authority Mulls Direct‑Action Protests Over Proposed Betting Affordability Checks

The British Horseracing Authority is weighing direct‑action protests as it battles the UK governmen…
The chief executive of the British Horseracing Authority (BHA), Brant Dunshea, announced that the sport is prepared to consider more direct‑action protests as it confronts the government’s proposal to introduce affordability checks for punters. Last September’s one‑day strike, which forced the cancellation of four meetings, proved decisive: it helped the government abandon a planned increase in betting tax from 15% to 21%, a rise the BHA estimated would have cost the industry £330 million. Following the “Axe the Racing Tax” campaign, the BHA is now urging the government to rethink the affordability checks that could require up to 120,000 regular gamblers to provide personal documentation, according to the Betting and Gaming Council. Independent modelling by EY suggests that as many as 44,000 bettors might migrate to black‑market operators, eroding the industry’s betting turnover by tens of millions of pounds. Betting turnover has already fallen by £2 billion since 2021. The Gambling Commission is slated to decide on the checks next month, while more than 400 racing figures – including trainers and MPs – have signed an open letter to Culture Secretary Lisa Nandy demanding intervention. “Our campaign will continue, and direct action is part of our broader strategy, though we will not discuss specifics publicly,” Dunshea said. He highlighted the power of collective action, noting that the industry’s cultural and economic significance was recognised in the government’s recent budget announcement. Recent pilot schemes, involving three credit‑reference agencies, produced inconsistent outcomes for the same individuals, raising concerns that the checks could push more punters toward illegal markets. Data from Yield Sec shows that the share of the UK gambling market held by black‑market operators surged from 0.43% in 2020 to 9% last year, with £379 million wagered on unlicensed platforms that do not contribute to the exchequer. Dunshea stressed that any affordability measure must be truly frictionless. “Consumers are price‑sensitive and protective of their personal data; any intervention that feels invasive will drive them elsewhere,” he warned. Amid the upcoming Grand National at Aintree, Dunshea expressed surprise at recent comments from the RSPCA regarding horse deaths at Cheltenham, reaffirming the BHA’s commitment to a collaborative relationship with the animal‑welfare charity. He noted that over the past 25 years, the industry has invested £60 million in equine welfare, reducing fatality rates to 0.22% of runners, and emphasized that the BHA will continue to work constructively with the RSPCA despite recent tensions.
#our #more #dunshea
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World Economy Apr 06, 2026

Federal Appeals Court Rules New Jersey Cannot Regulate Kalshi's Prediction Market

A federal appeals court has ruled that New Jersey cannot regulate Kalshi's prediction market, citin…
A federal appeals court has ruled that New Jersey gaming regulators cannot prevent Kalshi from allowing people in the state to use its prediction market to place financial bets on the outcome of sporting events. The decision marks a significant victory for Kalshi and similar prediction market operators.The three-judge panel of the Philadelphia-based third US circuit court of appeals ruled 2-1, finding that the US Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform.This ruling is a major setback for states like New Jersey, which had argued that firms like Kalshi were operating without required state licenses, in violation of gaming laws, including bans on wagers by those under 21. New Jersey had sent Kalshi a cease-and-desist letter last year, stating that its listing of sports-related event contracts on its platform violated state gambling laws.Kalshi had sued the state, arguing that its event contracts qualify as “swaps”, a type of derivative contract, that under the Commodity Exchange Act can only be regulated by the CFTC, which had granted the company a license to operate a designated contract market (DCM).The ruling was in line with the position advanced by the CFTC under Donald Trump’s administration. The regulator sued Arizona, Connecticut, and Illinois last week to prevent them from pursuing what it called unlawful efforts to regulate prediction markets.“Congress gave the CFTC exclusive jurisdiction over trades on DCMs, and this decision affirms the goals of Congress,” said Brooke Nethercott, a CFTC spokesperson.However, US circuit judge Jane Richards Roth dissented, saying Kalshi was facilitating gambling and that its “offerings were virtually indistinguishable from the betting products available on online sportsbooks, such as DraftKings and FanDuel”.The New Jersey attorney general's office said it was evaluating its options, including potentially asking the full third circuit to rehear the case.
#kalshi #state #new
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Sports Apr 05, 2026

Premier League Clubs Face £80m Hit as Gambling Sponsorships End

Premier League clubs are facing a significant loss in revenue as the ban on gambling sponsorships t…
Several Premier League clubs are struggling to find new shirt sponsors ahead of next season, with nine clubs yet to secure front-of-shirt commercial deals and 12 having not signed contracts. The imminent ban on shirt advertising from gambling companies is having a significant impact on clubs' commercial returns, with the collective loss of income from shirt deals potentially as high as £80m next season.Gambling operators, particularly those serving Asian markets, have been willing to pay more than other companies to sponsor Premier League clubs. However, the removal of gambling firms from the market has led to intense competition among clubs at lower prices. Of the 10 top-flight clubs with gambling sponsors this season, only Bournemouth have announced a replacement, with the club's stadium sponsor Vitality moving on to the shirt in a cut-price deal.Brentford are close to announcing that their existing training kit sponsor, the job search website Indeed, will be on their shirt next season, while Everton and Fulham appear set to buck the trend as they are in advanced negotiations with the foreign exchange trader CMC markets. However, seven clubs with gambling companies' backing remain in the market, including Chelsea and Newcastle, who are still seeking new sponsors.The ban on gambling sponsorships has exacerbated the divide between the big six clubs and the rest of the Premier League in terms of the sponsors they can attract. Arsenal, Liverpool, Manchester City, and Manchester United are locked into long-term deals worth between £50m and £60m a year, while Leeds and Brighton have long-term contracts with Red Bull and American Express respectively.
#Premier League #Manchester United #Bet365
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Us News Apr 02, 2026

US Government Sues Illinois Over Prediction Market Regulations

The US government has sued Illinois over its efforts to regulate prediction markets, arguing that t…
The US government has taken legal action against Illinois for attempting to regulate the rapidly growing online prediction market industry. The lawsuit, filed in Chicago federal court, claims that Illinois' efforts to shut down so-called designated contract markets regulated by the Commodity Futures Trading Commission (CFTC) are unlawful.Online prediction markets allow users to bet on a wide range of events, from Oscar winners to military conflicts. These platforms classify their offerings as 'event derivatives,' which fall under federal commodities law and are overseen by the CFTC. This classification allows them to operate in all 50 states for users 18 and older.Illinois introduced legislation earlier this year that would impose strict regulations on prediction markets, including an effective ban on sports-related trades, advertising restrictions, and age verification measures. The CFTC argues that this legislation intrudes on its exclusive authority to regulate national swaps markets.The lawsuit is the first by the CFTC to block state gaming regulators from policing operators of prediction markets. It cites cease-and-desist letters sent by the Illinois gaming board to companies like Kalshi, Polymarket, and Crypto.com, alleging violations of Illinois gambling laws.The federal lawsuit names Illinois Governor JB Pritzker and Illinois Attorney General Kwame Raoul as defendants. The case highlights the ongoing debate over the regulation of prediction markets, with some arguing they are essentially gambling operations and others seeing them as federally regulated financial exchanges.Congress is also considering federal measures to regulate prediction markets, including a bipartisan bill introduced by US senators that would ban federally regulated platforms from allowing wagers on sporting events.
#illinois #regulation #cftc
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