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For Marantelli, the exchange format could also cause some customers to lose money faster than they would with a conventional sportsbook. The ability to enter and exit positions creates a perception of flexibility, but that optionality can encourage users to commit more of their bankroll.

A customer might buy a team at 55 or 56 cents expecting the price to rise to 58 or 59 cents, he explains. If it falls to 45 cents instead, the trader may refuse to accept the loss and continue holding the position.

“People will lose money faster on exchanges for lots of reasons,” Marantelli says. “It inherently increases spend, volatility, lots of things. And you’re playing against a sharper audience than you’re playing against at the DraftKings sportsbook.”

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Brazil is currently gearing up for a general election next month and Weizer said this had delayed Playtech’s launch in the regulated market, although he didn’t specifically name Caixa as its client.

“I’ll be very, very open and straightforward about it,” Weizer told analysts on Playtech’s post-Q2 earnings call. “There were certain concerns that because it is an election year, and obviously, gaming is a political issue or there were references by politicians throughout the elections about gambling.

“Given the sensitivity around that, we were kindly asked to collaborate with the government [and] with the prospective customer that we are in discussions with to wait until the elections.”

About Mighty Symbols Diamonds Easter Edition

The Tapeta surface will be used exclusively for winter racing, allowing Belmont to take over Aqueduct’s former winter schedule as NYRA consolidates its operations at Belmont and Saratoga.

The Belmont Stakes, which was staged at Saratoga during construction, will return to its traditional Long Island home in 2027. Belmont will also host the Breeders’ Cup World Championships in October 2027, bringing the event back to New York for the first time since 2005.

Belmont represents NYRA’s vision of a new operating model for racing in the state—a smaller, modernized venue capable of absorbing the entire downstate racing calendar. And with almost $14 million wagered on its opening card, it’s off to a flying start.