Dice Vikings

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The focus is on identifying illegal and unregulated gambling sites, operators that offer gambling services without the necessary licence, as well as sites that misuse, copy, or falsely refer to other operators’ licences.

“You can try to stop gambling, but then you go onto foreign gambling sites and crypto casinos and they keep appearing,” Madsen says.

He began watching regulators shut down individual gambling sites, only for mirror sites, cloned domains and replacement URLs to emerge in thier place. The problem, he concluded, was not necessarily the individual website. It was the network behind it.

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Entain’s demotion comes after another – and arguably more significant – symbolic move by Flutter Entertainment. Flutter began trading on the New York Stock Exchange in January 2024 and later moved its primary listing from London to New York.

The move initially appeared to work. Flutter had a market capitalisation of about $36 billion when it began trading in New York in January 2024, rising to roughly $50 billion by June the following year. Flutter’s value later fell sharply as investors lowered their earnings expectations.

In the second quarter of 2026, Flutter’s US revenue fell 6% to $1.683 billion, while sportsbook revenue fell 15%. US adjusted EBITDA fell sharply, and Flutter subsequently reduced its guidance. Despite this, FanDuel retained the number-one US sportsbook position, with Flutter reporting a 39% share of US sportsbook gross gaming revenue.

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The MGA also found that only a small number of respondents had fully established AI risk assessment processes or incident-response plans.

Speaking at the launch event, MGA CEO Charles Mizzi emphasized that the framework is meant to foster progress rather than stifle it.

“Our role as a regulator is not to stand in the way of innovation, but to help create the certainty and confidence needed for innovation to flourish responsibly,” Mizzi said.