Sports Betting: News

Profiles

Advertising Promotions

Sports Betting

Kalshi, Polymarket race to crack ‘multis’ as sports bet stakes rise

(In Case You Missed It)

January 16, 2026

By Stephanie Stacey and Sam Learner

London/New York | Kalshi and Polymarket are racing to build enough liquidity to offer lucrative multi-leg sports bets, as the fast-growing prediction market providers intensify their efforts to upend the $US14 billion ($20.1 billion) US sports gambling industry.

The bets, known as “multis” in Australia, “parlays” in the US and “accumulators” in the UK, deliver bettors a big payout if a series of wagers come good. But while they form a cornerstone of the mainstream sports gambling market, parlays are difficult for prediction markets to facilitate.

Prediction markets allow gamblers to bet on binary outcomes of future events, such as the result of a football match, with the prices and implied odds determined by how participants bet.

To offer parlays, prediction markets have to establish liquidity pools for each individual bet, whereas traditional gambling groups, such as DraftKings and FanDuel owner Flutter, can simply bundle preset odds.

“The current downfall [of prediction markets] is their inability to offer the same range of exotic bets that US gamblers love so much, like same-game parlays ... but the market is beginning to find a way to serve certain sports,” said Adam Rivers, a managing director at consultancy Alvarez & Marsal.

In a research note, Bank of America Merrill Lynch analyst Shaun Kelley hailed parlays as the “killer app” of sports betting, saying they had “structurally changed” the industry’s win rates and economics.

While parlays are unlikely to be as lucrative for prediction market providers, which charge per transaction, as they are for conventional sportsbooks, they are still an opportunity to lure gamblers from conventional gambling companies.

Incentives for liquidity

Polymarket and Kalshi are offering incentives to traders who help build liquidity on their exchanges – which has become a strategic goal.

Kalshi, which offers individual liquidity providers payments of up to $US1000 per day, last year signed a partnership with Susquehanna International Group as its “first institutional market maker”.

Controversially, the company also operates an in-house unit, Kalshi Trading, which makes bets on the exchange. The practice has prompted a proposed class-action lawsuit from critics, alleging it creates conflicts of interest and puts customers at a disadvantage. Kalshi co-founder Luana Lopes Lara has dismissed the lawsuit as “baseless”.

The popularity of prediction markets has exploded since they rose to prominence in the run-up to last year’s US presidential election.

Americans can use prediction markets to bet against each other on everything from the frequency of Elon Musk’s X posts to the likelihood of the US government announcing this year that aliens exist (current implied odds: 13 per cent).

Kalshi, which counts Donald Trump jnr as a strategic adviser, achieved a $US11 billion valuation in a $US1 billion funding round last month.

Polymarket, where he is an investor, has recently been in talks to raise money at a valuation of between $US12 billion and $US15 billion.

In November, Bank of America analysts estimated that prediction markets accounted for between 3 per cent and 8 per cent of the US online sports betting market.

Sports betting groups DraftKings and Flutter have also launched their own prediction markets, although both companies plan to offer such trading only in US states where conventional online sports betting is prohibited.

In New Jersey, one of the few states that breaks down gambling revenues by type of bet, parlays accounted for 63 per cent of all revenues from online sports betting in the year to October.

Kalshi rolled out its first customisable parlay-style feature – called “combos” – to all users in December. In a post on LinkedIn, chief executive Tarek Mansour said these bets delivered more than $US100 million in volume in a single week.

Polymarket, meanwhile, offers preset bundles of bets, largely outside of sport, but does not yet facilitate customisable parlays. On the social network Discord, the company has offered a $US50 bonus for the first user to submit any multi-leg bet that is launched on Polymarket.

Gambling bosses have been dismissive of these efforts. Flutter chief executive Peter Jackson said in an interview in November that punters would always prefer traditional sportsbooks because “you don’t have anywhere near the same breadth of choice [on a prediction market exchange]”.

DraftKings chief Jason Robins told investors in November that prediction markets were “structurally limited”, highlighting parlays in particular: “Just having to have individual liquidity pools makes it hard because then you spread out your liquidity.” (AFR)

Full article and coverage via subscription to The Austrailan Financial Review
@FinancialReview

https://afr.com/companies/games-and-wagering/kalshi-polymarket-race-to-crack-multis-as-sports-bet-stakes-rise-20260116-p5nuhm

https://afr.com/topic/sports-betting-1mr2

Media Man Int

The Australian Financial Review wins Media Man 'Newspaper Of The Month' award

Mdia Man

News

90 Percent of LA Residents Believe BetMGM Spokesperson Jamie Foxx is a Clone
- December 12, 2023

We were in Louisiana over the weekend and quickly learned that the regulated sportsbooks in that state love using Facebook as a platform to advertise. Ads for BetMGM, Bet365 and the newly launched ESPN Bet regularly popped up on our feed.

It doesn't always work out the way they want however. A quick glimpse over the comments highlights this point.

Case in point, Foxx, 55, fell ill back in the spring and had to be rushed to the hospital with what was described then as a "medical complication". It is known the Hollywood actor remained hospitalized for a number of weeks and information about his condition was scarce.

'We wanted to share that my father, Jamie Foxx, experienced a medical complication yesterday," shared Corinne in a statement written on behalf of the Foxx family at the time.

"Luckily, due to quick action and great care, he is already on his way to recovery. We know how beloved he is and appreciate your prayers," the statement reads. "The family asks for privacy during this time."

Soon after, Hollywood journalist A.J. Benza claimed to have spoken to a source close to the actor and reported that Foxx suffered a blood clot occurred right after being administered a Covid shot.

"Jamie had a blood clot in his brain after he got the shot. He did not want the shot, but the movie he was on, he was pressured to get it," confessed the podcaster.

Dr. Drew Pinsky was also among those airing the controversial reports.

Several weeks later Foxx emerged and continued appearing in BetMGM commercials although it wasn't immediately clear when the ads were filmed as the online sportsbook continued airing them throughout his ordeal.

Now those seeing Foxx's video ad on Facebook seem less interested in joining BetMGM and more focused on whether the person appearing is really him.

"Clone."

"Who is this?"

"RIP Jamie Foxx."

These were the majority of the comments accompanying the video ad.

*click here for full article

(Gambling911)

News

Wagering, TV bodies slam proposed gambling ads ban; AFL wary of impact

Some of Australia’s biggest bookmakers have decried a potential ban on gambling advertisements as an ineffective and short-sighted way to remediate gambling harm, after a parliamentary inquiry report recommended the Albanese government commit to a comprehensive ban across all sectors within the next three years.

Responsible Wagering Australia (RWA) is the body that represents gambling giants including Sportsbet, PointsBet and Ladbrokes. It said the proposal, one of 31 recommendations raised by the House of Representatives standing committee on social policy and legal affairs, was a step too far and jeopardised the future of sporting codes and local broadcasters.

“Other more measured options which could be considered by the government include capping the numbers of gambling ads to be shown,” RWA chief Kai Cantwell said on Wednesday.

“By doing this, the expectations of the community to see less advertising would be met, while also maintaining the crucial support to sporting codes and local broadcasters.”

Tabcorp, which is not a member of RWA, welcomed the proposal after previously joining advocates in supporting a total ban on gambling broadcast advertising.

Tabcorp chief Adam Rytenskild said the report’s release marked an important moment for the sustainability of the wagering industry, reiterating a point from the inquiry’s hearing that the proliferation of gambling advertising is excessive.

“Tabcorp welcomes the committee’s recommendation for a nationally consistent regulatory framework. All wagering operators should have to adhere to the same regulations.”

Tabcorp’s stance is motivated by a keenness to protect its market share, according to rivals, and Rytenskild’s comments offer a stark contrast to RWA chief Cantwell who said the recommendations fail to consider the evidence from the committee hearings earlier this year.

“RWA recognises community concerns around online wagering advertising and there are more effective ways of meeting community expectations,” Cantwell said.

RWA and Free TV Australia, which has acted on behalf of Seven, Ten and Nine (the owner of this masthead), have argued for frequency caps on the number of ads shown across different channels, rather than a blanket ban.

Cantwell said by capping the number of ads, the community’s expectations to see less advertising would be met, while maintaining the support to sporting codes and local broadcasters.

He added a blanket ban through a phased roll-out was “short-sighted, ineffective and not the answer”, and could lead to more Australians turning to illegal offshore markets.

The AFL’s chief financial officer and general manager of broadcasting and clubs, Travis Auld, said on Wednesday it was too early for the league to have a response, and it had been consulting with the federal government about changes that could work.

“Any changes we make and the consequences of those changes need to be well thought through and well understood. There are some significant decisions within there that have impacts potentially on our industry,” Auld said.

He said that money from wagering firms was part of the AFL’s infrastructure, helping the competition keep its prices low, as well as invest in the game at a grassroots level. The AFL has an $8 million a year deal with Sportsbet.

“Of course money is part of it. It’s what allows us to keep our prices where we are, it’s what allows us to invest in boys and girls playing football at this level,” said Auld.

Despite a record $4.5 billion broadcast agreement signed with Seven Network and Foxtel in 2022, Auld said the AFL and both of its partners would represent themselves independently in any conversations around potential financial impacts.

“The commerciality from their point of view will remain known to them. I think we’ve been clear on the impacts on us.”

Free TV Australia’s CEO, Bridget Fair, warned a “kneejerk move” to implement an outright ban “will ultimately hurt viewers and the television services they love”.

“Many of the sports broadcasting deals have been agreed to beyond the three-year phase-out
period for advertising,” Fair said.

An NRL spokesperson said it recognised the significant stakeholder and community interest in gambling, saying it is committed to ensuring the NRL’s approach reflects this interest, “while also encouraging a holistic, evidence-based approach to mitigate the risks of gambling harm more broadly”.

A report earlier this year from the Australian Gambling Research Centre found most Australians (64 per cent) believe governments should play the biggest role in how wagering is advertised.

Dr Kei Sakata, the research centre’s acting executive manager, welcomed the report’s recommendations, saying it is a crucial step in reducing gambling harm.

Sakata also welcomed the committee’s recommendations of a national classifications scheme and effective warning labels for simulated gambling games and loot boxes, as well ongoing funding for gambling research.

(The Sydney Morning Herald)

News

New York Regulator Approves Rules Restricting Sports Betting Advertising
- Feb 28th, 2023

Just over a year since New York legalized sports betting, the New York State Gaming Commission (NYSGC) approved new restrictions on advertising. The rules by and large forbid sports betting marketing to underage individuals.

The regulations will not take effect for 60 days, as they must first go through a public comment period.

Among the new rules approved on Monday is one that says “…“a casino sports wagering licensee or sports pool vendor shall not allow, conduct, or participate in any advertising, marketing, or branding for sports wagering that is aimed at persons under the minimum age.” So, no marketing directly to anyone who is under 21.

Of course, an operator might not specifically gear an advertisement toward kids, but could still be seen by kids. The NYSGC thought of that, stating that an ad cannot be shown anywhere “where there is a reasonably foreseeable percentage of the composition of the audience that is persons under the minimum wagering age.”

For instance – and this is obviously an extreme example – a gambling operator can’t run a sports betting commercial on the Disney Channel at 4:30pm, even if there is nothing specifically in the ad that would appeal to children.

While it might be tricky for operators to navigate the rules in some instances, in others, it is pretty cut and dry. Sports betting, for example, cannot be advertised on college campuses or in school-owned news assets (exceptions will be made for ads that might be available to college students, but are not specifically targeting the school, like an ad in the city newspaper). Advertisements also cannot depict underage persons, though that would be really weird if that happened, even without the new regulations.

The new regulations also aim to combat misleading advertising, taking particular aim at ads that tout promotions as “risk free” or “free” if someone is still required to bet with their own money. Affiliates of gambling operators must abide by the rules, as well.

At least one lawmaker from New York wants to take things even further. Representative Paul Tonko, who serves in the US Congress, introduced the “Betting on Our Future Act” in early February that would ban all electronic and online sports betting advertising.

Tonko based the bill on a law that bans cigarette ads, which could be an effective counter to those who argue that if sports betting is legal and operated by regulated companies, then advertising should be allowed. You don’t see cigarette commercials on television, though, so there is clearly a precedent to outlaw marketing for products that might be considered harmful.

Poker News Daily

Sports betting giants turn to sexual imagery and mateship to normalise gambling -
3rd April 2016

by Farrah Tomazin

Sports betting agencies are adopting similar marketing techniques used by the powerful tobacco lobby to convince people that online gambling is an intrinsic part of Australian culture, new research suggests.

s the Turnbull government prepares to unveil reforms to crack down on foreign bookmakers, a study has found that betting giants are increasingly using gender stereotypes, fan rituals and images of mateship to "normalise" online wagering through highly targeted advertisements.

"The same playbook that we saw in tobacco and alcohol is happening again," said Samantha Thomas, a public health academic at Deakin University, which led the study.

"It's being depicted in advertising as though it's part of Aussie culture – this idea that if you're a true Aussie bloke, you go to the pub, you hang with your mates, you watch your sport and now you also gamble on sport as well. We should all be smarter about the way these companies seek to normalise their product."

The study analysed 85 advertisements from 11 local and international gambling companies, including Ladbrokes, Sportsbet, William Hill, Bet365 and Crownbet.

It found that over three quarters of ads used imagery relating to sports fan rituals (such as images of fans cheering for their teams at stadiums or while watching TV); about half contained symbols of mateship (such as gambling being something you do with your friends at the pub); and about a quarter objectified women (who often appeared in the ads playing a subservient service role to men).

One Sportsbet ad for instance, described the bikini as "one of man's greatest inventions" while a man poked the breast of a woman in her bathers as she sat by a pool. Inanother ad by Betfair, a James Bond-type character in a suit played table tennis with a woman wearing a bikini while the voiceover states: "When you have power, you can do what you want. With whoever you want, whenever you want, wherever you want, as many different ways as you want."

The research found 10 main types of "appeal strategies" were used by betting agencies to market sports wagering, including sexual imagery; thrill and risk; sports fan behaviours; mateship; winning; social status; adventure; patriotism; happiness; and power and control.

But experts say the ads should serve as a cautionary tale, particularly in the lead up to the Olympics, which Associate Professor Thomas warned could end up being "one of the biggest betting events the world has ever seen".

The research is likely to add to concerns about cashed up bookmakers pumping millions of dollars into advertising and corporate sponsorship in the hope of securing a bigger foothold in the lucrative sports betting market.

However, Sportsbet chief financial officer Ben Sleep said he "categorically rejects any comparison of our business to those of tobacco companies."

"It has been proven that every single cigarette does you harm whereas it is only a very small percentage of consumers who are at risk of developing an issue with wagering. Sportsbet is continually developing world's best practice harm minimisation measures and strategies to help consumers enjoy our product safely," Mr Sleep said.

Standard Media Index figures show that in the first two months of this year, the gambling industry had spent $27.3 million on advertising. And as The Age reported on Saturday, football fans have been bombarded with ads since the AFL season opened last week, with more than one in six ads promoting gambling during round one.

A spokesperson for the Australian Wagering Council, which represents the sportsbetting industry, said the ads informed consumers of the identity of licensed Australian-based providers so they could participate in "highly controlled and consumer protected" betting, while avoiding the dangers of illegal offshore operators.

"AWC members recognise community concern in relation to wagering advertising and agree that advertising should always conform to accepted social standards, and not promote harmful behaviour," the spokesperson said.