The CoinMasters format will see players qualify for the Championship Final Table through various unique means. Each time a player wins a daily tournament, they will earn cash as well as a gold or silver coin, depending on the day of the week. 

If a user collects all seven unique coins, they will automatically secure a place at the Final Table, where the winner will be awarded the grand prize. 

The company has also stated that players who earn at least one coin will have the chance to win additional cash prizes through “Hall of Fame Freerolls,” which offer a further $100,000 in prize money. 

Multiple ways to qualify: Collector, Luckbox, Creator

CoinMasters offers multiple ways to qualify for the Championship Final Table, ensuring that everyone has a shot at the top prize:

• The Collector: Be one of the first five players to collect all seven unique coins and earn a guaranteed $10,000 cash prize. Duplicate coins can be traded to complete a collection, and each coin will remain a “tangible trophy” of a player’s achievements. 
• The Luckbox: Every coin earned counts as an entry into a random draw for a “golden ticket” to earn a spot at the Final Table. 
• The Creator: Content creators have the opportunity to shine by producing engaging poker-related content while tagging CoinPoker. The creator deemed most talented by CoinPoker will earn the title of “CoinPoker Creator Champion” and also secure a seat. 

The CoinMasters tournament was developed in collaboration with well-known poker professionals such as Bencb, Patrick Leonard, and Mario Mosböck. 

Players are invited to compete and “reignite the poker dream” with a chance of scooping the tournament series’ top prize, a package that includes $50,000 in cash, a $30,000 sponsorship deal, a $10,000 WSOP Main Event entry, a $10,000 bonus, private coaching and a digital CoinPoker avatar upgrade. 

Players begin the qualification process through daily CoinMasters tournaments. Silver coins are awarded to winners from Monday through Saturday, while a higher-value gold coin is awarded during the Sunday event. Entry fees for these tournaments range from $25 to $150.

Secondary Prize Pools

CoinPoker’s “Hall of Fame Freeroll” series has varying entrance criteria based on coins collected: 

• One coin: Entry into a $50,000 freeroll
• Two coins: Entry into a $30,000 freeroll
• Three or more coins: Entry into a $20,000 freeroll

Countdown Mechanism and Coaching Incentives

Once the first player collects all seven coins, a two-month countdown begins. Alternatively, the countdown ends early if five players complete their collections first. CoinPoker ambassadors will coach final table participants, with the earliest qualifiers receiving the most training time and first pick of available coaches.

CoinPoker users can also take advantage of a plethora of other options. These include a 150% welcome bonus (up to $2,000), 33% rakeback, and leaderboards for MTTs and cash games. The platform recently introduced fiat deposit support in 22 countries and offers instant crypto-based transactions.

The post CoinPoker Launches $250,000 CoinMasters with Poker Career Package On The Line appeared first on CasinoBeats.

Perhaps most notable was House Bill 490, filed by Rep. Jeremy Gray. This bill was referred to the House Committee on Economic Development and Tourism with the aim of creating an Alabama Gaming Commission, legalizing sports wagering, electronic games of chance, and implementing a new state lottery.

Alabama still remains one of just five US states without its own lottery. A key argument weaponized by proponents of broader gambling legislation is the state-level economic benefit that legalized wagering can bring. States such as New York generate substantial tax revenue from betting, and advocates strongly believe a robust legal system significantly reduces the likelihood of consumers opting for offshore bookmakers, which are not regulated by the state and as such, lack adequate consumer protection measures. 

The bill intends to introduce a 10% tax on sports betting revenue. Of the tax generated,  40% would go to the General Fund, 40% to the Education Trust Fund, and the remaining 20% to a newly created NIL (Name, Image, Likeness) Trust Fund for high school athletes. 

Two Alabama Bills, One Standoff

Despite the fact that five Democrats are backing HB 490, Alabama’s House leadership insists that gambling legislation must originate in the Senate – primarily because a similar House-led proposal was rejected by the upper chamber only last year.

This dynamic has embodied the state’s struggle to progress a sports betting agenda, creating an uneasy political tug-of-war as the legislative session races toward its May 15 deadline.

In the Senate itself, veteran Republican lawmaker Greg Albritton brought about a far broader proposal that inserted a constitutional amendment for a state lottery and bid to expand tribal gaming and sports betting. The senator also plans to tax gambling at 24%, which would include excise taxes on gaming machines and individual wagers.

Albritton’s bill would incorporate legislation authorizing electronic gambling at six locations and require a compact with the Poarch Band of Creek Indians for tribal casinos in an attempt to bring a unified gambling structure to the state.

A Vote Unlikely in 2025

In spite of the Republican’s proactive solutions, Albritton has admitted his bill still lacks the support needed to progress. “We’re closer than we want to admit,” Albritton told Alabama Daily News. “But it’s easier not to make a decision… why stick your head out of the trench if you don’t have to?”

Senate Majority Leader Steve Livingston was decidedly less optimistic, noting that the Senate lost a key vote after Sen. Reed’s resignation in November, which, in all likelihood, has reduced last year’s 20 votes to just 19.

Should Albritton’s proposal reach the 21-vote threshold needed before May 15, then the issue could reach the public referendum in a September 16 special election, something Gov. Kay Ivey fully supports. However, without the required votes in the Senate, it’s unlikely the bill will make the ballot until at least 2026.

Notwithstanding the public interest in passing a motion and the mounting pressure from industry lobbyists, with just 12 session days remaining and countless major budget issues still to be resolved, it would appear that Alabama lawmakers are going to give up the fight—for now.

The post Dueling Bills Reignite Alabama Sports Betting Debate, but 2025 Vote Unlikely appeared first on CasinoBeats.

The city government announced Wednesday that it is launching a one-month consultation. The consultation invites members of the public to express their views on expanding the legal sports betting options beyond football and horse racing. They have until May 2 to reply with feedback.

Hong Kong Bids to Reduce Illegal Gambling

Based on a proposal from the Hong Kong Jockey Club, the city’s lone legal betting operator, the consultation is part of more extensive efforts to crack down on illegal gambling practices. The HKJC recently estimated that illegal betting volume reached between HK$70 billion ($9.3 billion) and HK$90 billion ($11.6 billion) on basketball alone in 2024. Government officials say that the rise of digital payments and cryptocurrency makes it increasingly difficult to track unregulated betting platforms.

A Hong Kong Home and Youth Affairs Bureau spokesperson emphasized that while the government does not encourage gambling, it recognizes “an actual and persistent demand” for it.

“As such,” the spokesperson added, “the Government adopts a pragmatic approach by allowing only a limited number of authorized gambling outlets, which includes authorizing the HKJC to conduct horse race betting, Mark Six Lottery, and football betting in accordance with the Betting Duty Ordinance (Cap. 108).”

Under the proposed changes, the HYAB could issue the HKJC a license for organized basketball betting. The license would be attached with a few conditions, including a ban on bets involving Hong Kong teams and/or games played locally. There would also be age restrictions, and credit betting would be prohibited.  

Should the plans move forward, the HKJC would also be required to adhere to strict responsible gambling practices throughout the city and provide information on services available for individuals who may be suffering from gambling-related harms. 

Football Betting License Extended

In an unrelated move, the government renewed its licensing for football betting for five years. Starting July 18, the conditions will remain largely the same, including a restriction on bets from matches involving Hong Kong teams and/or locally occurring matches. 

The post Hong Kong Launches Public Consultation on Legalizing Basketball Betting appeared first on CasinoBeats.

February saw the Centennial State record $496.63 million in total wagers, down from $536.99 million year-on-year (YoY) but also noticeably lower than January’s figure of $657.18 million.

Nevertheless, Colorado’s latest $4.31 billion fiscal year-to-date (FYTD) wagering figures maintain the assertion that the in-state sports betting sector remains particularly robust – especially given that it reflects a considerable 4.71% increase from the previous year.

Another prominent metric the state’s lawmakers were excited to tout was the sector’s growing tax revenue returns.

The state has collected more than $24.5 million this FYTD, a sizeable 19.07% jump from last year’s figures. A critical component of that figure was February’s $3.43 million tax collection, which represented a 163.54% uptick compared to February 2024.

Pleased with his state’s achievements, Director of Gaming Christopher Schroder echoed the report’s sentiments, stating, “After a record-setting January for sports betting, February continues to show growth with over $24.5 million collected in Fiscal Year to Date Taxes,” adding “A strong, safe, and fair sports betting industry is good for Colorado and its bettors. The funds they raise each month are helping Colorado fund water conservation efforts.” 

Online Betting and Basketball Drive February’s Growth

With March Madness approaching and the NBA in full flow, basketball dominated Colorado’s betting scene in February. Rivaling Super Bowl wagering, basketball accounted for 33% of the sports betting handle, with the state’s residents staking $163.99 million online and $1.1 million in retail outlet bets.

The release of Colorado’s sports betting figures revealed online sports betting was a clear overall favorite across all sports. As a result, Coloradans racked up over $493.6 million in online wagers, in direct contrast to retail sportsbooks, which only added  $2.99 million.

In correlation to the heavily weighted preference for digital sportsbook betting, the online sector naturally steamrolled the state’s revenue generation, contributing $46.2 million in GGR, whereas retail betting merely added $152,547.

Growth on the Horizon for Colorado Sports Betting

While Colorado will be hard-pressed to match the top sports betting revenue earners, like New York and Illinois, its substantial wagering and subsequent tax revenues already characterize the Centennial State as a prominent force within the expanding US sports betting sector.

Of course, some skeptics point to the varying monthly fluctuations as a concern, yet the sheer volume of tax revenues and year-on-year GGR suggests that sports betting projects long-term stability within the state.

With the Nuggets on the verge of the NBA playoffs and the Rapids riding high in the league table early in the MLS season, Colorado’s strong sports betting handles look set to continue long into the summer months. While Colorado lawmakers will be rubbing their hands at the prospect of further tax windfalls, Coloradans will ultimately benefit from the resulting public spending measures.

The post Colorado Sports Betting Revenue Soars 80% Despite Handle Dip in February appeared first on CasinoBeats.

The agreement, secured through OneTeam Partners, allows both ESPN Bet (U.S.) and theScoreBet (Canada) permission to incorporate MLB player names, images, and likenesses into their sports betting platforms for marketing and retail campaigns.

“By integrating MLB player rights into PENN Entertainment’s platforms, this partnership brings fans closer to the game while unlocking new business opportunities in sports betting,” Frank Arthofer,  President of OneTeam Partners, said in a release. 

He continued: “It highlights the growing influence of players in shaping premium, fan-focused betting experiences while enhancing player NIL rights and widening distribution.”

PENN operates 32 retail sportsbooks, including 19 under the ESPN Bet brand. In 2021, it acquired theScore, which is now the Toronto Blue Jays’ official gaming partner.

Strengthening Connections

ESPN Bet has performed far below prior market expectations and has struggled to compete with the likes of DraftKings and FanDuel. Upon launch, Penn aspired to secure 20% of the sports betting market share across the United States by 2027. Updating investors after its fourth-quarter earnings call, this has been revised to 5% by the end of 2025. 

Underwhelming performance has continued to fuel speculation that Penn may look to opt out of the 10-year deal valued at $2 billion that was signed in 2023. 

PENN’s VP of Operations, Jason Birney, hopes the MLBA partnership will help PENN deliver an enhanced product for fans. “Partnering with MLB Players Inc. strengthens our connection to the league and its star players and creates additional opportunities to engage fans throughout the season,” he said. 

The defending World Series champion Los Angeles Dodgers opened the MLB season against the Chicago Cubs in Tokyo on 18-19 March. Action on American shores got underway the week after. 

Navigating Legal Hurdles

MLB Players Inc. agreed to a similar deal with Fanatics Sportsbook in October 2024. A month prior, in September 2024, the MLBPI brought lawsuits against bet365, DraftKings, FanDuel, and Underdog Fantasy for alleged unauthorized use of player names and likenesses. 

FanDuel and the MLBPA agreed on a settlement after both parties agreed to a licensing agreement. 

Last month, a federal judge denied DraftKings and bet365’s attempts to dismiss the lawsuit. Judge Marston of the U.S. District Court for the Eastern District of Pennsylvania found that the MLBPI had “sufficiently pleaded violations of Pennsylvania’s right of publicity statute” and “common law misappropriation of likeness.” 

The post PENN Entertainment Enters Agreement with MLB Players Inc. appeared first on CasinoBeats.

The substantial fine comes after allegations arose around the casino courting illegal bookmakers, including Damien LeForbes and the now infamous Mathew Bowyer, a Southern Californian bookmaker with unsavory ties to MLB star Shohei Ohtani’s disgraced former interpreter.

In what amounted to a unanimous 4-0 decision, the Nevada Gaming Commission initiated the penalty in the hope of deterring future incursions by other state casino resorts and bookmakers. Following the decision, Commissioner Brian Krolicki underscored the severity of Resorts World’s violations and described the scandal as “a profound teachable moment for the industry.”

Illegal Bookmaker Bowyer Frequently Gambled at Resorts World

 At the center of the dispute was controversial bookmaker Bowyer, who was found to be running an illegal gambling operation with over 700 clients. He had also racked up over $8 million in losses himself while gambling at Resorts World.

While Las Vegas casinos typically extend luxury perks to high-rollers – which often include the use of private jets – questions arose about Bowyer’s extended privileges, exorbitant losses, and how his wife had become his own personal RWLV casino host.

Despite Bowyer’s significant role in the ruling, the RWLV violations extend beyond the bookmaker, honing in on the casino’s dealings with convicted illegal gamblers as well.

Not only were these nefarious exchanges not reported, but the Nevada Gaming Commission also determined that RWLV’s executives knowingly failed to act accordingly and deemed them negligent and open to possible money laundering violations.

As part of the agreed settlement, the casino was directed to overhaul its leadership team and tighten its anti-money laundering (AML) protocols. In response, RWLV has since appointed a new CEO, Alex Dixon, and established a board of directors featuring industry heavyweights, including former MGM CEO Jim Murren.

Reflecting on RWLV’s swift boardroom clearout, Krolicki acknowledged the proactive steps being made, stating, “I believe this is a wonderful fix and a new pivot for Resorts World,” before calling them a “dream team.”

Nevertheless, the Nevada Gaming Control Board has since specified that should any future federal criminal, civil, or administrative actions be filed against RWLV, they, too, may initiate counterdisciplinary measures.

RWLV’s Struggles Continue, Vegas Strip Warned

 Ultimately, the fallout is not limited to the financial penalty. RWLV reported a 21% revenue drop in Q4 2024 and has since announced several staff redundancies.

Despite the scandal’s reverberations, the Nevada Gaming Commission insists the case should serve as a wake-up call, with Krolicki declaring, “I also believe this is a clarion call up and down [the Las Vegas Strip] that these rules are to be adhered to perfectly.”

The post Resorts World Las Vegas Hit with Historic $10.5M Fine Over Illegal Bookmaker Ties appeared first on CasinoBeats.

The prediction market ratcheted up the intensity in its legal battle with regulators in New Jersey and Nevada by filing lawsuits last week in response to cease-and-desist orders.

In a company filing, Kalshi CEO Tarek Mansour called prediction markets a “critical innovation of the 21st century” and accused both the New Jersey Department of Gaming Enforcement and the Nevada Gaming Control Board of overstepping their boundaries.

“Both states have issued cease and desist orders that fundamentally misunderstand prediction markets and undermine the foundation of U.S. financial markets, which are regulated by the federal government,” Mansour posted on X (the social media site formerly known as Twitter) on Sunday.

“We have made every effort to engage proactively with both Nevada and New Jersey and try to educate them about prediction markets, how they are regulated, and how critical they are … but our words fell on deaf ears.

“I can’t speak to why they are taking this action, but prediction markets have proven their use, so it is a shame that these authorities are still trying to censor them.

“We are left with no choice: sue.”

This follows attempts by Nevada and New Jersey to block Kalshi and fellow predictive market Robinhood from offering sports prediction markets in their states. Sports betting is now legal in 38 states plus Washington, D.C., though Kalshi is accessible throughout the U.S.

Kalshi introduced its single-game betting markets for the NCAA men’s and women’s basketball tournaments on March 17, including in states like New Jersey where wagering on in-state schools is prohibited. The markets are offered via an exchange rather than “against the house.” Ironically, Newark, NJ., was a regional host site on the men’s side this past weekend.

Through the first two rounds of the men’s tournament, Kalshi took in almost $200 million. Another $12.8 million was spent on the women’s side.

The company also announced a partnership with Robinhood, whose first foray into sports came earlier this year with Super Bowl 59.

The NJDGE has threatened further action should Kalshi not comply with its orders to leave the state, including potentially “any measures available under state law.” It recently agreed to extend the deadline for compliance to its cease-and-desist letter to April 7.  

Kalshi claims its sports-outcome contracts don’t constitute gambling, and that its event contracts are “valid under federal law.” The company argued that compliance could lead to issues on the open market.

“Prediction markets are a critical innovation of the 21st century and, like all innovations, they are initially misunderstood,” Mansour said.

Nevada’s cease-and-desist orders represented the first legal action taken against Kalshi at the state level. The Nevada Gaming Control Board accused the company of violating several state laws with its sports and election offerings.

On Monday, the Ohio Casino Control Commission also issued a cease and desist letter to Kalshi, Crypto.com, and Robinhood stating: “The commission determined the event contracts offered by the companies on sporting events meet the definition of sports gaming under the law, which requires licensure to be legally offered in Ohio.”

Mansour promised to continue fighting in favor of predictive markets for the betterment of the American public. So we can expect Kalshi to return fire and sue Ohio as well.

“They are the quintessential truth machines,” he said. “With trust in traditional institutions at an all-time low, people are turning to prediction markets at an astronomical pace. The growth of the ecosystem in the last year is a testament to how important they have become to the American people.”

The post Lawyers at Dawn: Kalshi Sues Nevada and New Jersey Regulators appeared first on CasinoBeats.

Kalshi’s latest legal compliance issue comes after the Nevada Gaming Control Board (NGCB) also served a cease-and-desist letter on the organization last month.

That being said, there is a slight difference between the two; the NJDGE called out Kalshi for offering markets on college sports betting — a practice that is banned under New Jersey’s state constitution. In Nevada, Kalshi has been reprimanded for violating the state’s rules against election betting.

The latest infringement demonstrates the legal repercussions the firms face. Earlier this month, Kalshi marketed March Madness betting markets across all 50 states. Now, New Jersey lawmakers are demanding that both platforms not only halt all sports wagering activities but also instruct them to void any wagers placed by New Jersey residents with immediate effect.

Kalshi’s Woes Are Multiplying

The news of the prohibition letters from the NJDGE and NGCB comes in spite of Kalshi’s recent high-profile legal victories — which include a major ruling against the Commodity Futures Trading Commission (CFTC) — but it still illustrates the hurdles the prediction market firm faces in establishing the rules of engagement.

While Kalshi is not alone in facing these operational headwinds, as it expands into sports and beyond it is increasingly causing friction with state legislators. Many of them believe the unique wagering format violates their state’s taxation laws — particularly in relation to sports betting legislation.

Undoubtedly, Kalshi is at the forefront of attempting to carve out a niche in regulated prediction markets. Nevertheless, it appears to be thwarted by the patchwork makeup of individual state laws, which will inevitably soon see it receive further legal notices from other states.

That being said, as lawmakers and regulators continue to grapple with how to govern this adaptive form of betting, Kalshi will hope the gray areas become clearer in their bid to help pioneer the future of US prediction markets.

The post New Jersey Cracks Down on Kalshi’s March Madness Wagers appeared first on CasinoBeats.

UFC flyweight Jeff Molina and former UFC featherweight Darrick Minner had disciplinary hearings on Tuesday in Las Vegas before the Nevada Athletic Commission, where they both were hit with multi-year suspensions.

Molina, 27, was suspended for three years and fined $235.56 in prosecution fees for failing to disclose an injury Minner, 34, had sustained before a fight against Shayilan Nuerdanbieke and placing a bet on the Nov. 5, 2022, fight. His suspension runs through Nov. 5, 2025.

“Having direct knowledge of a serious injury sustained by a fellow fighter, Darrick Minner, Molina failed to inform the commission of the serious injury, [in] violation of NAC 467.885, and instead of informing the commission, additionally placed a significant bet with a gaming entity on Minner’s fight,” attorney general representative Matthew Feely said.

Minner, meanwhile, was suspended for 29 months and fined $235.56 in prosecution fees for knowingly competing in the bout with a knee injury. His suspension will be retroactive, meaning he can return on March 26, 2025.

Molina had been suspended since January 2023 for what the commission called “substantial” participation in a scheme involving coach James Krause. Minner was originally suspended in December 2022.

Minner hasn’t competed since the November 2022 bout. Minner failed to reveal a knee injury prior to that bout and was beaten by Nuerdanbieke in the first round. Shortly after, the bout was flagged by US Integrity.

Amid suspicions of illegal betting activity, UFC CEO Dana White suggested there’d be severe consequences for anyone in violation of the rules.

“Do you know what the outcome of this is?” White said. “If I penalize them, they’re going to get cut. They’re going to (expletive) federal prison. Federal (expletive) prison. If you’re that stupid and somebody else wants to do it, knock yourself out.

“There’s not enough money in it to ruin your life and not go to jail, go to federal prison.”

The UFC also cut ties with Krause, saying fighters who continued to train with him would not be allowed to participate in any sanctioned events pending the outcome of government investigations. Krause remains suspended by the Nevada Athletic Commission. 

The post UFC Fighters Suspended for Betting Scandal appeared first on CasinoBeats.

However, that’s not always the case.

Data shows that gaming revenue was actually down last month in several key states, including Pennsylvania, Maryland, and Michigan.

Gaming receipts in Pennsylvania totaled $477.2 million, a decrease of 4.38% from February 2024, according to the state’s Gaming Control Board.

While the Philadelphia Eagles’ 40-22 victory over the Kansas City Chiefs in Super Bowl LIX may be partly to blame, it has certainly raised some eyebrows.

The state has now seen revenue decline for three straight months, and February’s drop was the most precipitous. Gross sports betting revenue was just $7.4 million, a whopping 75.2% drop over the previous year. And this was despite a 14.4% increase in player spending over that time.

Meanwhile, in Michigan, commercial and tribal operators reported a combined $268.5 million in revenue from iGaming and sports betting last month. That marked an 18.9% decrease from January.

Contrary to Pennsylvania, the online sports betting handle dipped 31.6% to $379.8 million from the $555.2 million recorded in January.

In Maryland, revenue from iGaming fell 2.6% to $155.1 million over the previous month, though profits from sports betting increased 38% to $60 million from February 2024.

An important factor was the total handle, which rose by 7.5% year-over-year to $475.7 million. This was largely fueled by the state’s 11 online operators, who largely outperformed its 13 retail locations. In fact, the retail sports betting handle fell 11.3% year-over-year to $12.5 million.

Now legally accessible in 38 states plus Washington, D.C. – Missouri is poised to join that list this fall — online sports betting has expanded rapidly on a national level. Seven states also offer legalized iGaming: Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia.

Legislative efforts continue in places such as Hawaii, and Texas, but roadblocks remain. Managing the effects of problem gambling is a common obstacle.

As the industry evolves, it won’t be uncommon to see more fluctuation from a revenue standpoint. Regulatory changes — for example, increased tax rates — are a common factor.

Even New York, the country’s most lucrative sports betting area, experienced a dip in certain areas last month, proving nobody’s immune to market volatility.

With the NCAA men’s and women’s basketball tournaments dominating the sports landscape in March, revenue could very well tick back up for operators as they inch deeper into 2025. March Madness traditionally produces one of the highest betting handles of any event, alongside the Super Bowl and NFL Sundays, and may help explain whether last month’s results were merely a blip or a sign of things to come.

The post Multiple States See Decline in February Gaming Revenue appeared first on CasinoBeats.