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The Isle of Man’s online gambling industry has been flagged as having a medium risk of terrorist financing. That’s one of the main findings in the island’s first-ever standalone Terrorist Financing National Risk Assessment (TF NRA), released this month.
In 2020, the risk level for gambling was considered low, so this new assessment marks a noticeable shift. It also places gambling among the key sectors that need stronger controls to help prevent terrorist financing.

“Whilst our Island is a comparatively safe place, we will make every effort to ensure terrorists cannot use our status as an International Finance Centre to finance their criminal activities.” – Jane Poole-Wilson, Isle of Man Minister for Justice and Home Affairs

“Of the 4 sectors reviewed using the full WB sectoral methodology, Banking, TCSP and Online Gambling sectors were all determined to pose a medium risk for TF,” the report stated.
In quantifying the risk, the report provided precise threat and vulnerability scores: “Online Gambling: 0.42 [threat] and 0.51 [vulnerability],” giving it one of the highest combined TF risk scores among all sectors assessed.
Isle of Man terror financing report points out online gambling risks
In response, the Gambling Supervision Commission says it’s planning some major changes. “The GSC have identified a number of controls that will be enhanced, including: Specific AML/CFT Guidance for Business to Business (B2B) businesses… and engage in outreach both to the sector and associated sectors around typologies and supervision practice,” the report said.
Further actions include plans by the GSC to “seek regulatory powers to apply civil penalties to an individual to enhance their current sanctions regime” and to introduce “a firmer mandate to apply risk-based licensing decisions to be able to react to emerging risk threats.”
The government admitted that it doesn’t have much hands-on experience with terrorist financing cases, which makes it harder to spot and deal with potential threats. “TF may be rarely, if ever, encountered whereas ML is more common… any warning signs of TF and the threats of and vulnerabilities to TF might not be as readily identified,” the assessment noted.
Minister for Justice and Home Affairs, Jane Poole-Wilson MHK, stated: “Whilst our Island is a comparatively safe place, we will make every effort to ensure terrorists cannot use our status as an International Finance Centre to finance their criminal activities.”
The TF NRA makes it clear that there’s still room for improvement in several key areas. “The assessment confirmed that there are areas where the IOM has adequate systems and controls in place… as well as areas where additional focus and action is required to both test and strengthen existing controls.”
“Industry must be able to show how they have considered and mitigated the relevant risks identified in this NRA,” the document instructed.
Featured image: Canva
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In a world where gambling has been legalized in many states, including online sports betting, can Vegas still hold up as being the epicenter of American gambling?
With the Strip alone measuring 6.8km in length, south of the city, tourists and locals have a whole range of options at their fingertips.
Places like Fontainebleau, the Excalibur, Caesars Palace, and the Bellagio have become synonymous with the location, with each seeing huge numbers of people who are ready to gamble walk through their doors each week.
But as times are changing in the United States, and the gambling market is heating up, can Las Vegas keep its crown?
How Las Vegas became the center of American gambling
Las Vegas started to rise in the gambling space from the year 1931 as Nevada became the first state in the country to legalize gambling.
It was when a downtown club was awarded a three-month gaming license that the trajectory of the state began to rapidly change.
Soon after, other casinos gained licenses, and the first resort on the Vegas strip, El Rancho Vegas, opened a decade later in 1941. In the 50s, the place became synonymous with gambling and being carefree.
In 2003, the Las Vegas Convention and Visitors Authority wished to promote the destination as being a place for adult freedom and empowerment, so it created the campaign ‘What Happens Here, Only Happens Here.’ This started the saying, ‘What Happens in Vegas, Stays in Vegas.’
The changing landscape of gambling in America
At one point, Nevada had a near-monopoly on legal gambling in the United States, with visitors coming from all over to be able to sit at a blackjack table legally.
Now, though, the landscape has changed significantly, and the area’s competition is all around.
When the Supreme Court legalized sports betting in 2018, over 35 states have now introduced this form of gambling, meaning the market has opened up exponentially. The rise in online sports betting and gambling has propelled this even further, too.
Vegas today: Is it reinventing itself in this digital age?

Vegas has started to reinvent itself as it aims to keep up with the changing tides of the gambling industry. While it has long been known for its glamorous shows and performances, the area has shifted its focus to entertainment.
Tourist attractions have been created that focus solely on entertainment, with no connection to gambling at all, including the Las Vegas Sphere.
As for the casinos, they are aiming to curate memorable experiences and entice crowds as they bring together entertainment and gambling into one place.
Contactless gaming and AI integrations have also started to creep onto the strip, representing a desire to keep up with changing technologies.
Which other states are leading the charge in casino gambling?
The American Gaming Association, which is a national trade group for the casino industry, shared a ‘State of the States’ report last year that highlighted the most recent figures in the industry.
According to AGA, in 2023, the total nationwide consumer spending on commercial casino gaming and sports betting had increased by 10.3% to a massive $66.66 billion, which marked the third consecutive year of record revenue for the sector.
Despite concerns about a growing decline, the Las Vegas Strip, in Nevada, was identified as leading the charge, showing that the state is still the biggest player in the market. The total revenue was marked as $8.83 billion.
In second place is Atlantic City in New Jersey, which remained in the same spot in comparison to the previous rankings and brought in $2.86 billion.
Chicagoland, in Illinois/Indiana, is a market that has risen in the rankings as it has overtaken Baltimore-Washington DC as the third-largest for land-based casino gaming in 2023. The area amounted to $2.19 billion, and it was during this time that a new casino was opened in downtown Chicago.
In fourth position is Baltimore-Washington DC, in Maryland/West Virginia, with this totaling revenue of $2.08 billion. The Gulf Coast, Mississippi, was next on the list in fifth place at $1.59 billion.
Although Las Vegas is still proving to be the most dominant when looking at the statistics, there are other markets which are gaining traction. In 2023, Resorts World New York City casino in Queens regained its status as the most lucrative commercial casino-resort outside of Nevada, surpassing the MGM National Harbor in Maryland by total annual casino gaming revenue.
It’s New York which appears to be on the brink of big changes too as some of the biggest developers in the country are battling for the chance to build the state’s next casino. A number of locations have been proposed, with eight bidders all in the running for what could be an incredibly lucrative gaming license.
With states continuing to expand their casino operations, could Las Vegas start to feel the pressure in the coming years?
Featured Image: AI-generated via Ideogram
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There’s roughly 492 commercial casinos operating in the United States, with these providing jobs for many and the potential to bring in a whole lot of revenue.
While Las Vegas is known worldwide as being the ‘home of casinos,’ the city actually only houses 20 percent of the nation’s casino industry. The remainder are dotted around, with some areas also becoming hotspots in their own right.
But what happens to these towns and cities if the markets see a big drop off? With this in mind, we’re looking at the impact casinos have on their locations.
Where are the casino towns in the United States?
Las Vegas, in Nevada, is first on the list for being a casino-dominated area, as this has been the case since the state legalized gambling in 1931.
The golden age of casinos is largely described as being from the 50s to the mid-70s, when the city began to transform into a gambling and entertainment hotspot. It attracted the rich and famous, with this being the prime time for glamour and glitz. According to research, Vegas has over 375 gaming facilities.
The city of Reno, also in Nevada, is another place known for its casino gambling. It saw a surge in gambling activity from the year it was legalized in the state, with the 30s and 40s being its golden years.
Oklahoma, California, and Colorado are the three states with the most casinos after Nevada.
Are there negative impacts of opening casinos in America’s towns?
Despite gambling being more accessible than ever, thanks to the devices in our pockets, casinos have long been hailed as an easy revenue maker for local governments.
They can bring in a major boost to tourism, while providing more job opportunities for people living nearby.
But it doesn’t always go as planned, with towns and cities sometimes struggling to keep up if the market goes awry.
Becoming overly dependent on the casino industry

Let’s look at Tunica in Mississippi, with this town once known for being the place to be able to visit many different casinos in one area.
Before gambling was legalized in the early 1990s, the town was known for being one of the most impoverished places in the United States. This outlook began to change though as the development of casinos started (just outside of town lines) and these soon then ranked as high as the third-largest casino-gambling destination in the US as measured by gaming revenue.
From the outside looking in, casinos appear to be the predominant focus with the community not having a great amount of infrastructure other than what is adjoined to the casinos.
Over the last decade, there has been a decline in the casinos in Tunica. The growing expansion of casinos in other close-by areas like Arkansas have largely been to blame in the media. The result? A number of abandoned buildings and people out of jobs.
When Covid-19 hit, the president of the Tunica County Chamber of Commerce and Economic Development Authority, Charles Finkley, told the press “we’re trying to diversify our economy.”
It was reported that officials are aiming to make the area less susceptible to economic downturns by expanding employment beyond casinos.
A ripple effect on the housing market
After major casino developments have started, places like Las Vegas, Macau, and Singapore have all seen their property markets heat up. In Singapore, the property prices in the area around Marina Bay Sands saw a surge when the business opened its doors.
It’s through these new developments and casinos that jobs can be created in the area, while boosting tourism and improving infrastructure. When this is done successfully, property prices and demand in the surrounding areas can rise.
This can be a double-edged sword, though, as Daniel Cabrera, CEO of Fire Damage House Buyer, explained: “Depending on where the casino is situated and its level of success, neighboring communities might experience expanded commercial development… or alternatively, increased traffic and noise that discourage buyers.”
He also spoke about speculative buying as a possible distortion: “Speculative buyers could purchase homes in areas around an impending or new casino in anticipation of value appreciation, distorting local pricing patterns.”
While this impact on the housing market is attractive for investors, it could also be pricing out the locals.
Featured Image: AI-generated via Ideogram
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Wondr Nation, owned by the Mashantucket Pequot Tribal Nation, is teaming up with Sparket, a startup focused on social gaming technology. Together, they’re rolling out a new line of products under the iWondr brand, starting with a free-to-play prediction contest centered around pop culture.
The first contest invites people to make predictions on trending topics like which movie will top the box office or what’s hot in music and TV. Unlike traditional betting platforms, this one is powered by Sparket’s Social Betwork technology, which mixes predictions with a social, community-driven experience.
The partnership also sets the stage for more themed contests and interactive tools to be launched through iWondr. These tools are designed to boost engagement during live events, giving attendees and viewers a chance to participate in real time.
Wondr Nation and Sparket attempt to bring together audience and pop culture
“This partnership allows us to bring a completely new, culturally relevant experience to audiences who may not typically participate in traditional gaming,” said Anika Howard, Wondr Nation’s CEO, in a press release. She added that the company is all about blending culture, technology, and community, and that iWondr really brings that mission to life.
Aaron Basch, CEO and co-founder of Sparket, explained that Sparket was built to make social gaming more interactive. “WONDR NATION’s vision and commitment to audience-first innovation make them the perfect partner to roll out a new form of play that’s engaging and culturally in tune,” he said.
The contest is open to anyone 18 or older across the US, unless restricted by local laws. It’s free to enter, with no purchase necessary. Players can climb the leaderboard by making accurate predictions, and the top performers will earn digital gift cards as prizes.
The Mashantucket Pequot Tribal Nation runs Foxwoods Resort Casino in Connecticut, one of the biggest integrated resort casino destinations in North America. They also operate Foxwoods El San Juan Casino, which is located at the historic Fairmont El San Juan Hotel in Puerto Rico.
Featured image: Wondr Nation / Sparket
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