Latest news with #DraftKings
GMA Network
2 hours ago
- Sport
- GMA Network
NBA: Raptors' odds to land Giannis Antetokounmpo shorten amid reports
Giannis Antetokounmpo is favored to stay with the Milwaukee Bucks amid increasing speculation that the two-time NBA MVP is open to being traded this offseason. The Bucks are the odds-on favorite at -140 by DraftKings to be the team Antetokounmpo is playing for in his first minute of the 2025-26 regular season. That's well ahead of the San Antonio Spurs (+380) and Houston Rockets (+450). The Rockets crashed out of the playoffs after posting the second-best record in the Western Conference, but have a young and talented roster poised to compete for several years. That roster could use an experienced star in the mold of Antetokounmpo to make a deeper playoff run next season alongside the likes of Amen Thompson, Antetokounmpo, Tari Eason, and Dillon Brooks. The Spurs also make for an intriguing destination to pair with young star Victor Wembanyama and De'Aaron Fox, who was acquired from Sacramento last season. San Antonio is still armed with a slew of draft picks to help facilitate a deal. The next shortest odds belong to the Toronto Raptors, who have moved to +1000 with a report by the Toronto Star that there is "mutual interest" should Antetokounmpo be traded. Separately, ESPN reported that the Raptors are "looking for a big fish" in the offseason trade market. It was originally reported last month that Antetokounmpo would be open to playing elsewhere in 2025-26. According to the Star's report on Sunday, the Raptors are deep enough at the wing position to combine with first-round picks to make a run at Antetokounmpo, who has spent his first 12 seasons with Milwaukee. Antetokounmpo, 30, averaged 30.4 points, 11.9 rebounds and 6.5 assists in 2024-25 before Milwaukee was handed its third straight first-round playoff exit. With highly paid All-Star guard Damian Lillard facing a lengthy rehabilitation after tearing his left Achilles tendon in the playoffs on April 27, the Bucks are not well-positioned to contend for a championship next season -- which speaks to the offseason decisions that the Bucks and Antetokounmpo face. He is under contract through the 2026-27 season and has a $62.8 million player option for 2027-28. He carries cap hits of $54.1 million in 2025-26 and $58.5 million in 2026-27. GIANNIS ANTETOKOUNMPO ODDS (First Regular Season Minute Played For) Milwaukee Bucks (-140) San Antonio Spurs (+380) Houston Rockets (+450) Toronto Raptors (+1000) Dallas Mavericks (+1200) Oklahoma City Thunder (+1300) New York Knicks (+1600) Brooklyn Nets (+2000) Memphis Grizzlies (+3000) Detroit Pistons (+3000) Cleveland Cavaliers (+3000) Atlanta Hawks (+3000) Los Angeles Lakers (+3500) Golden State Warriors (+3500) Miami Heat (+5000) Chicago Bulls (+5000) Boston Celtics (+5000) Phoenix Suns (+5000) Orlando Magic (+5000) New Orleans Pelicans (+5000) Los Angeles Clippers (+6000) Philadelphia 76ers (+6000) Minnesota Timberwolves (+6000) Sacramento Kings (+7000) Denver Nuggets (+8000) Indiana Pacers (+12000) Portland Trail Blazers (+13000) Charlotte Hornets (+25000) Washington Wizards (+25000) Utah Jazz (+25000) —Field Level Media/Reuters
Yahoo
5 hours ago
- Business
- Yahoo
How much the Illinois sports betting tax could cost operators
Shares of sportsbook operators DraftKings (DKNG), FanDuel parent company Flutter Entertainment (FLUT), and MGM Resorts (MGM) are hard pressed on Monday after Illinois lawmakers passed a tax on sports bets. Citizens Senior Equity Research Analyst Jordan Bender comes on Asking for a Trend to discuss what this new tax could cost sports betting platforms in the long run. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Sign in to access your portfolio
Yahoo
5 hours ago
- Entertainment
- Yahoo
Demetrious Johnson reveals how Ilia Topuria could be exploited at UFC 317
Ilia Topuria has proven to be unbeatable so far, but Demetrious Johnson suggests one area where he could be exploited. Topuria (16-0 MMA, 8-0 UFC) takes on Charles Oliveira (35-10 MMA, 23-10 UFC) for the vacant lightweight title in the UFC 317 main event on June 28 from T-Mobile Arena in Las Vegas (ESPN+ pay-per-view, ESPN, ESPN+). Advertisement Topuria poses threats with his boxing, grappling and jiu-jitsu. While Oliveira is also an all-around threat, Johnson advises the Brazilian to test him to an unfamiliar position. "I think somebody who is able to expose him – like he's very good at that range, of that slow, check, slow, check, and he gets in there, and he throws like five-punch combinations," Johnson said in an interview with Tim Welch. "But once somebody gets him in that clinch, that area, that's where I think we will see how he reacts, because when you get in that clinch. ... I feel like that area we haven't seen him fight, and if Charles can get him there – obviously if he grabs the clinch, he can go body, body, head. But, when he does body, body, head, you can still bang him with a knee so, it's a give and take. If Charles can get him there, it will be interesting to see what happens." Former UFC flyweight champion Johnson explained how he would fight Topuria. "If I was to fight Ilia, I would fight him in the clinch," Johnson added, "It's like, 'OK, outside he hits too hard, he's going to stalk me. If I shoot, he's going to defend, and then he's going to back up, or he might try to take me down. What would he do in the clinch?' Because I know he's going to go body, body, and I'm going to go elbow. That's where I'm like I want to see what he would do." Advertisement According to DraftKings, Topuria is currently a big -380 favorite over fellow former champion Oliveira, who's a +300 underdog. This article originally appeared on MMA Junkie: UFC 317: Former champ reveals keys to beating Ilia Topuria
USA Today
6 hours ago
- Sport
- USA Today
Demetrious Johnson reveals how Ilia Topuria could be exploited at UFC 317
Demetrious Johnson reveals how Ilia Topuria could be exploited at UFC 317 Ilia Topuria has proven to be unbeatable so far, but Demetrious Johnson suggests one area where he could be exploited. Topuria (16-0 MMA, 8-0 UFC) takes on Charles Oliveira (35-10 MMA, 23-10 UFC) for the vacant lightweight title in the UFC 317 main event on June 28 from T-Mobile Arena in Las Vegas (ESPN+ pay-per-view, ESPN, ESPN+). Topuria poses threats with his boxing, grappling and jiu-jitsu. While Oliveira is also an all-around threat, Johnson advises the Brazilian to test him to an unfamiliar position. "I think somebody who is able to expose him – like he's very good at that range, of that slow, check, slow, check, and he gets in there, and he throws like five-punch combinations," Johnson said in an interview with Tim Welch. "But once somebody gets him in that clinch, that area, that's where I think we will see how he reacts, because when you get in that clinch. ... I feel like that area we haven't seen him fight, and if Charles can get him there – obviously if he grabs the clinch, he can go body, body, head. But, when he does body, body, head, you can still bang him with a knee so, it's a give and take. If Charles can get him there, it will be interesting to see what happens." Former UFC flyweight champion Johnson explained how he would fight Topuria. "If I was to fight Ilia, I would fight him in the clinch," Johnson added, "It's like, 'OK, outside he hits too hard, he's going to stalk me. If I shoot, he's going to defend, and then he's going to back up, or he might try to take me down. What would he do in the clinch?' Because I know he's going to go body, body, and I'm going to go elbow. That's where I'm like I want to see what he would do." According to DraftKings, Topuria is currently a big -380 favorite over fellow former champion Oliveira, who's a +300 underdog.
UPI
8 hours ago
- Business
- UPI
Betting stocks decline as Illinois raises taxes on legal sports wagers
1 of 4 | Traders work on the floor of the New York Stock Exchange on Wall Street on Monday in New York City. Stocks of major U.S. steel companies jumped after President Trump announced he would double tariffs on steel and aluminum. Photo by John Angelillo/UPI | License Photo June 2 (UPI) -- Illinois legislators have approved a new state budget that raises taxes on legal sports wagers, causing betting stocks to decline Monday. On Sunday, the state's Senate and House passed a $55 billion budget with $800 million in tax increases, including sports betting. Illinois Gov. J.B. Pritzker said he would sign the bill. Illinois officials hope to raise more than $36 million in yearly revenue with a per-wager tax on sports bets placed within the state, according to Casino Beats. The new tax takes effect July 1, with the money going into the state's General Revenue Fund. Online and in-person sportsbooks are run by FanDuel, DraftKings, Caesars, BetMGM and ESPN BET. Betters 21 years of age and older must be physically located within Illinois state lines. Many casinos and racetracks have partnered with sportsbook operators. Last year, Illinois sportsbooks paid $276 million in taxes, according to an LSR analysis, including FanDuel $74 million and DraftKings $67.9 million. Of the more than 370 million bets in Illinois last year, DraftKings and FanDuel took in more than 150 million bets each. The new law imposes a new tax of 25 cents per wager on the first 20 million online sports bets made each fiscal year, rising to 50 cents per bet afterward. In 2024, the state went to a tiered 20% to 40% rate from 15%. DraftKings and FanDuel should "certainly" surpass 20 million wagers, meaning they'll face the higher tax rate, Truist analyst Barry Jonas told CNBC. Jonas said Illinois' rate will be among the highest in the nation. DraftKings' stock price declined 7.44% on Monday afternoon on NASDAQ, and Flutter Entertainment, which runs FanDuel, declined 2.44% on the New York Stock Exchange. Roundhill Sports Betting & iGaming Exchange Trading Fund dropped 1.7% on the NYSE. Smaller competitors in the market also declined. MGM Resorts, which owns BetGM platform in a 50-50 relationship with Entain, went down 1.9% on the NYSE. Penn Entertainment, which partners with Entain, dropped 0.78% on NASDAQ. Twenty-seven states and the District of Columbia allow online sports betting statewide. The Sports Betting Alliance, which includes DraftKings and Fan Duel, said it will "will fight this discriminatory tax alongside our customers." The SBA said: "For the second consecutive year, the Illinois legislature chose to balance its budget with a crippling tax on legal online sports betting operators and their million plus Illinois customers -- this time with no warning and no consideration of the devastating impact this tax would have on the legal market," the SBA statement reads. Dan Katz, known as "Big Cat" of Barstool Sports, which is sponsored by DraftKings, said in a video that the new tax would be "very bad." Robert Walker, who for more than a decade was the sportsbook director for MGM Mirage's Las Vegas casinos, said legalized sports betting is facing competitors in the form of companies like Kalshi that offer sports "prediction" markets. "Make no mistake: This cost will ultimately land squarely on the customer," Walker, director of operations at ARMS, which helps retail sportsbooks manage potential risks to their business, told Front Office Sports. "The tax may be levied on the operator, but basic economics tells us who really pays. What's particularly frustrating is how this undermines the competitive position of regulated operators just when they need every advantage they can get against emerging alternatives." Other states with taxes include 51% in New Hampshire, New York and Rhode Island with 6.75% in states that include Nevada and Iowa, according to a report from the Tax Foundation. Maryland Gov. Wes Moore signed a budget that includes a 5 percentage point increase to the sports betting tax. An Ohio legislator introduced a 2% handle tax on top of the existing 20% tax on revenue. DraftKings and FanDuel initially offered daily fantasy sports services nationwide. With sports betting approved by the U.S. Supreme Court in May 2018, they expanded into online and retail sportsbooks. It struck down the Professional and Amateur Sports Protection Act of 1992 DraftKings, which was established in 2012 and based in Boston, had revenue of $4.77 billion in 2024. FanDuel, which is based in New York City and was established in 2009, has revenue of $5.79 billion in 2024. Pro leagues initially shied away from sports gambling companies. DraftKings and FanDuel have partnerships with teams in the NFL, NBA, NHL, MLB and WNBA.
