Sports
U.S. Legal Gambling Boom Expected to Drive Record Betting on Summer Olympics
Paris, France – The upcoming Summer Olympics in Paris, starting July 26, are poised to attract unprecedented levels of betting activity, thanks to the widespread legalization of gambling in the U.S. This will be the first Summer Olympics since legal sports betting became prevalent across the nation, and the gaming industry anticipates a surge in wagers on popular sports like basketball, soccer, and tennis.
Max Bichsel, North America executive vice president at Gambling.com Group, remarked on this significant shift, saying, “The Olympics and gambling, for decades, have looked at each other from afar. This year we’ll see them meld together.”
The timing of the Olympics is particularly favorable for sportsbooks, coinciding with the offseasons of major betting leagues like the NFL and NBA. However, the overall impact on gambling operators remains uncertain. Giants such as FanDuel and DraftKings, which dominate about 80% of the U.S. online gambling market, may see a less pronounced effect compared to smaller players.
Jordan Bender, a senior equity analyst at Citizens JMP, commented, “If you want to look at this from an annual perspective for a company like DraftKings or FanDuel, it’s still going to have a relatively minor impact. Obviously positive, but it’s not going to be as big as we might think, and a lot of it is going to be largely dependent on viewership.”
FanDuel, owned by Flutter, indicated that the Olympics might not significantly influence their sportsbook operations, while DraftKings did not respond to requests for comment.
The growth of legal gambling in the U.S. has been substantial. Over 30 states now permit some form of sports wagering, with many allowing mobile and online betting. This is a dramatic increase from the last Summer Olympics, held in Tokyo. In 2021, 97 million American adults could place a bet; this year, that number has risen to 164 million, according to the American Gaming Association.
Brandon Friedman, vice president of operations at PrizePicks, a daily fantasy operator, noted that their platform offered Olympic events during the Tokyo and Beijing games, with a preference among users for summer competitions. “As a result, we are leaning into the Paris 2024 Olympics with a wider offering for our members to enjoy than ever before,” Friedman said.
As the games approach, sportsbooks and fantasy operators are preparing for a significant uptick in engagement, hoping to capitalize on the increased interest and participation in Olympic betting.
Sports
Jack Draper Advances to Japan Open Last 16 with Win Over Bellucci
British tennis player Jack Draper has secured a spot in the Japan Open last 16 after defeating Italy’s Mattia Bellucci in straight sets. Draper, ranked world number 20, claimed a 6-4, 6-2 victory, marking his first win since his US Open semi-final loss to Jannik Sinner earlier this month.
The 22-year-old’s triumph in Tokyo comes as a welcome return to form following a challenging Davis Cup in Manchester, where he lost both of his singles matches to Argentina’s Francisco Cerundolo and Canada’s Felix Auger-Aliassime, contributing to Great Britain’s failure to reach the knockout stages.
After a tightly contested first set against world number 103 Bellucci, Draper dominated the second set, building a 5-1 lead before closing out the match. He will face Polish second seed Hubert Hurkacz in the next round on Friday.
Sports
Wolves Defender Yerson Mosquera Likely Out for Season with Knee Injury
Wolverhampton Wanderers defender Yerson Mosquera is expected to miss the remainder of the season following a serious knee injury sustained in Wolves’ 3-1 loss to Aston Villa. The 23-year-old Colombian twisted his knee after a collision with Villa’s Morgan Rogers in the 82nd minute and was stretchered off the pitch.
Scans confirmed that Mosquera suffered damage to both the medial collateral ligament (MCL) and anterior cruciate ligament (ACL), which will require surgery. Wolves’ head of high performance, Phil Hayward, said, “We will be visiting specialists to finalise the plan for surgery, and it’s highly unlikely he will feature again this season.”
Mosquera had been a key part of Wolves’ defense this season, starting all five Premier League games after returning from a loan spell at Villarreal. His absence further deepens Wolves’ defensive issues, as they did not secure a replacement for Max Kilman following his £40m move to West Ham.
Wolves, currently winless and sitting at the bottom of the Premier League, face Liverpool at home in their next match.
Sports
Ex-Real Madrid & Manchester United Defender Raphael Varane Retires at 31
Raphael Varane, former defender for Real Madrid, Manchester United, and the French national team, has retired from professional football at the age of 31. Varane, who joined Italian side Como in July, sustained a knee injury on his debut, prompting his decision to step away from playing. He will remain at Como in a non-playing capacity.
In an emotional Instagram post, Varane wrote, “It takes a big dose of courage to listen to your heart and your instinct,” explaining his desire to leave the sport on his own terms.
Varane began his career at Lens before a decade-long stint at Real Madrid, where he won 18 major trophies, including three La Liga titles and four Champions League crowns. He later joined Manchester United in 2021, making 95 appearances and winning the Carabao Cup in 2022.
Internationally, Varane earned 93 caps for France, winning the 2018 World Cup and the 2021 Nations League. Reflecting on his career, Varane expressed pride in both his achievements and staying true to his values.
He hinted at future projects with Como, adding, “Something I am looking forward to sharing more about soon.” Varane has also been vocal about the dangers of head injuries in football, having played through concussions during his career, and he has called for better protection for players.
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