Weekly Roundup for Sportsbetting – January 27th

Sports betting

The sportsbetting industry was rocked by three unexpected headlines this week, with the first coming from DraftKings. They confirmed that they’d removed the prize funds earned by Jade Roper Tolbert, who had won $1 million with DraftKings daily fantasy sports contest. T followed after this woman had reached the top score with the Millionaire Maker Tournament, which centred around football and had more than one hundred thousand entries. Following the substantial win, an anonymous tip was provided to DraftKings. This unnamed individual expressed that Jade Roper Tolbert had manipulated the outcome of this contest with her husband, Tanner. When it applies to Tanner Tolbert, he’s won substantial funds under daily fantasy sports with DraftKings. It’s suspected that lawsuits will follow, demanding that these funds were stolen.

Committing these illegal actions goes to account the multiple-accounting policy subjected by DraftKings. Following the actions of these two criminal masterminds that got caught, this online sportsbetting facility has altered the regulations regarding several contests. Those alterations weren’t made public knowledge and cannot be deciphered amongst the extensive collection of policies maintained by DraftKings. Both Jade and Tanner have had all accounts associated with their IP Address terminated. It was also confirmed that legal actions would be taken for manipulating the contest. Jade Tolbert could face ten years in prison under American law.

Sports Betting Becoming Safer

This information follows the other headline released this week, which indicated that illegal betting schemes had fallen by 31% throughout the 2019 fiscal year. This data was confirmed by reports released through the International Betting Integrity Association. Throughout the 2018 fiscal year, this association experienced 270 flagged reports regarding illegal activity. Recorded this year was 183 reported illicit actions, which marks the 31% decline in criminal activity. Professional Tennis saw the most significant decline in illegal sportsbetting activity, dropping by 43% from the year prior. When it applies to the sport that received the highest level of criminal activity, it was European Football. The IBIA noted in their reports that 82% of the 183 illegal reports related to European football. Overall, the majority of these unlawful actions applied to European citizens at 52%.

Barstool Sports Sells 36% Company Stake

Another shocking headline to surprise bettors this week was that Penn National Gaming had purchased 36% stake in Barstool Sports. This follows after a takeover period for majority ownership, which didn’t prove fruitful after extensive negotiations to receive 51%. Subsequently, PNG paid $163 million for their stake in the Pennsylvania-located racetrack and casino. After three years of this agreement being fulfilled, there’ll be the option for Barstool Sports to increase their sold-off stake to 50%. This would make PNG and Barstool equal partners with this Pennsylvania-casino.