Tag: sports betting

WSEX Co-Founder Jay Cohen on the Sportsbook That Saw the Future of Modern Sports Betting

WSEX Co-Founder Jay Cohen on the Sportsbook That Saw the Future of Modern Sports Betting

Before DraftKings and FanDuel, before Kalshi and Polymarket, there was Jay Cohen and World Sports Exchange.

When the gambling industry looks back on its modern roots, the conversation often begins with the Supreme Court striking down the Professional and Amateur Sports Protection Act in 2018, opening the door for states to legalize sports betting.

From there, it often turns to the rise of DraftKings and FanDuel, the normalization of sportsbook advertising, and the legal fights that will ultimately determine the future of prediction markets.

Cohen sees it differently.

Back in 1996, Cohen, Steve Schillinger, and Haden Ware launched World Sports Exchange, better known as WSEX, from the small Eastern Caribbean island of Antigua.

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Former Betway Director Jon Russell: U.S. is Asking the Wrong Question About Prediction Markets

Former Betway Director Jon Russell: U.S. is Asking the Wrong Question About Prediction Markets

Watching the prediction markets fight unfold, it’s clear there’s no shortage of moving parts.

It has a crowded cast. There are state regulators, tribal gaming leaders, federal agencies, sportsbooks, and platforms trying to defend a business model that cuts across old regulatory lines.

From lawsuits and cease-and-desist orders to a larger fight over who gets to decide what these products actually are, the plot has plenty of conflict. But for all the drama and debate, what may be missing is a rearview mirror.

Jon Russell, a veteran sports-trading and integrity executive, has seen parts of this movie before.

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Prediction Markets: Trading, Gambling, or Both? Why the Debate Matters for Consumer Protections

Prediction Markets: Trading, Gambling, or Both? Why the Debate Matters for Consumer Protections

Ask ten people about prediction markets, and you’ll likely get ten different answers.

To some, they’re nothing more than sportsbooks dressed up in financial clothing. To others, they’re sophisticated tools for hedging real-world risk.

However, for the average user, the experience is much less abstract. For them, it’s simply this: put your money on an uncertain outcome, cross your fingers, and hope for the best.

Prediction markets have experienced rapid growth over the last year, with Kalshi and Polymarket reaching multibillion-dollar valuations.

As they continue to expand into sports and other consumer-facing categories, the debate over what prediction markets really are, and what protections they owe their users, is becoming harder to ignore.

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CAS Arbitrator & FIFA Consultant Rodrigo Arias Grillo: Sports Integrity is More Than Match-Fixing

CAS Arbitrator & FIFA Consultant Rodrigo Arias Grillo: Sports Integrity is More Than Match-Fixing

First the NBA, then MLB, and finally the NCAA: over the past year, the United States has seen a steady stream of sports betting scandals make headlines. At this point, for most fans and industry observers, the question isn’t if there will be another scandal, but when, as they wait for the next shoe to drop.

When betting scandals hit the news cycle, they raise uncomfortable questions among the public, who are left wondering just how widespread the problem is and just how many of the games they’ve watched have been compromised by fixing, inside information, or someone gaming a prop market.

During an hour-long interview, CasinoBeats put those questions and more to sports integrity expert Rodrigo Arias Grillo.

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Wondr Nation CEO Anika Howard on Digital Gaming: With Growth Comes Responsibility

Wondr Nation CEO Anika Howard on Digital Gaming: With Growth Comes Responsibility

Compliance. Mandates. Standards. Regulatory expectations. Those are just a few of the words that come to mind when the gambling industry starts talking about responsible gaming. We often see it presented as a cautionary tale while being relegated to the fine print of marketing and product design.

But Anika Howard, President and CEO of Wondr Nation, talks about it differently. She believes the industry sometimes treats its most important safety feature like a movie character written into the script, only to later be pushed into the background.

“I feel like with responsible gaming, it’s like, you’re putting baby in a corner,” she told CasinoBeats during a wide-ranging interview about what responsible gaming should look like at a time when the casino experience is increasingly digital, and we can carry a sportsbook in our pockets.

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