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On the Instagram profiles of gambling operators, the content varies according to the brand’s strategies. It ranges from the use of humorous and entertaining videos to the generic use of AI in banners advertising promotions, available casino games and important sporting events with betting odds.
Most of the accounts recommended by Instagram’s algorithm are irregular, especially those from international companies that, although they may be legal in their country of origin, do not have authorisation from the SPA to operate in Brazil, and are therefore illegal.
The specialised media – channels, portals, journalists and gossip profiles – complete this ecosystem with profiles focused on reporting on sports and the promotion of gambling platforms.
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It was an encounter with that disconnect during the 2022 FIFA World Cup that ultimately set entrepreneur George Yashin on the path to founding Swipe Games.
Yashin had spent around 15 years building businesses across industries ranging from fashion technology and retail hardware to sneaker cleaning, as well as investing in early-stage technology companies. Yet when he attempted to place a football bet, he found the interface so impenetrable that he eventually headed to a betting shop to ask how to do it.
When he subsequently looked at casino games, something else struck him – the experience did not seem dramatically different from the slot machines he remembered seeing years earlier.
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As the NFL season begins, a state in close proximity to the New England Patriots became the latest to attempt to curb the influence of the trading platforms. On 10 September, one day after the Pats’ season-opening loss to the Seattle Seahawks, Connecticut Governor Ned Lamont addressed the growth of the markets during a speech in downtown Hartford. On the same day, the Connecticut Department of Consumer Protection issued cease-and-desist orders to nine unregulated operators, including Polymarket, Robinhood and Underdog Predict.
“Prediction markets have branded themselves as legal and safe, but the reality is they are not adhering to Connecticut’s consumer protection standards,” Lamont wrote in a statement.
While such orders have become customary around the nation this year, Connecticut’s missive took it one step further. The department also issued nearly 30 subpoenas to licensed gaming service providers and a bevy of media outlets. Those issued subpoenas include ones served to PayPal, Sportradar Solutions and Plaid, a payment processing app that holds a gaming licence. Although those companies are not under investigation, the subpoenas appear to be the first against service providers that conduct business with prediction markets in some form.
