Sentences with phrase «illegal gambling industry»
Not only will it create jobs and bring in much needed revenue without raising taxes but it will also deal a major blow to organized crime which has a stranglehold on the illegal gambling industry with an estimated $ 380 billion wagered annually.
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The new law is the nation's first formal approval of the industry after its come under scrutiny across many states for allowing what regulators see as illegal online gambling.
(Reuters)-- U.S. casinos must take steps to combat illegal sports gambling, the Treasury Department has told an industry group in a letter that came just weeks before the Super Bowl, one of the biggest betting events of the year.
The two largest daily fantasy sports companies, FanDuel Inc. and DraftKings Inc., are in early - stage talks to merge, people familiar with the matter said on Monday, as the industry faces a crackdown by U.S. states over whether it runs illegal gambling.