On Wednesday, the US Securities and Exchange Commission (SEC) charged eight celebrities with the illegal promotion of Tronix (TRX) and BitTorrent (BTT) crypto tokens. The defendants allegedly used their social media presence to promote crypto investments to millions of followers without disclosing they were getting paid for their services. So far, six stars have opted to settle with the SEC, but none have commented on the matter.

Advertising Crypto Carries Certain Restrictions

The SEC continues to crack down on crypto in their ongoing mission to bring a semblance of order to the industry after the colossal crash of FTX. Their latest target is Yuchen “Justin” Sun, who used three of his companies to sell Tronix (TRX) and BitTorrent (BTT) crypto tokens, allegedly without the required registration.

Sun reportedly contacted several celebrities, offering them a substantial sum of crypto assets in exchange for social media promotions. However, the stars that took Sun on his offer missed mentioning they were getting paid, which violates SEC regulations. The Commission took notice of this problem several years ago and imposed restrictions on crypto-minded influencers.

Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange…

SEC Office of Compliance Inspections and Examinations statement

Despite the SEC’s attempts to curtail illegal crypto advertisements, many celebrities have tried to circumvent the regulations for a quick profit, often drawing the Commission’s ire. Kim Kardashian and Steven Seagal were two of the most noteworthy examples, receiving fines of $1 million and $300,000 for promoting investments without making it clear they got paid.

Most Celebrities Managed to Reach a Settlement

Learning from other people’s mistakes seems like a skill that eight other stars are sorely lacking. On 12 February 2021, Youtuber turned MMA fighter Jake Paul replied to a tweet by rapper Lil Yachty as they promoted Tronix (TRX) tokens. Both celebrities missed mentioning they were receiving compensation. Paul allegedly got $25,019 in crypto assets for his services. 

The offer likely looked like a sweet deal for Paul and Lil Yachty then, but the consequences appear to have caught up with them. Both agreed to pay back what they received, plus interest and a substantial fine. The SEC also charged six other stars on similar grounds. Recording artists Ne-Yo and Akon, actress Lindsay Lohan, and adult film performer Michele Mason agreed to pay up, while singer Austin Mahone and rapper Soulja Boy failed to settle.

The implicated celebrities will pay over $400,000 combined, but none admitted or denied the SEC’s charges. Overall, they got out relatively scot-free compared to previous similar cases. The Commission’s actions have at least made it clear that status and fame won’t protect celebrities choosing to skirt crypto laws in exchange for a quick buck.

The leading publisher determined to accelerate innovation in the iGaming industry has once again joined ReelPlay to create a Wild West-themed slot featuring the iconic Game Engagement Mechanic. The mechanic can lead to a win of 8,737x the initial stake. 

Big Bucks Buffalo GigaBlox also introduces a Bonus Respins feature with Mega Coin Symbols.

Big Bucks Buffalo GigaBlox Metrics Overview

• Reels: 6
• Rows: 4
• Paylines: 40
• RTP: 96.03% 
• Hit Freq: 21.05%
• Max Win: 16,297x
• Volatility: Medium 
• Min/Max Bet: 0.40-14
• Release date: March 23, 2023

Three Lucrative Years and Counting

The collaboration between Yggdrasil and ReelPlay began at the start of 2021 when the developer that created the original Infinity Reels joined the roster of companies part of the YG Masters program based on the GATI technology.

GIZA Infinity Reels, Big Bucks Bandits Megaways, Thor Infinity Reels, Arctic Sorcerer Gigablox, and Festival 10K WAYS are just a few of the titles released through collaborations between the two companies since the start of their lucrative partnership. 

Yggdrasil’s head of product and programs Stuart McCarthy acknowledged ReelPlay’s position as one of their “most successful YG Masters partners” in the past years. 

McCarthy also expressed their great excitement for the release of a new “top-tier slot with a proven theme” and the iconic GigaBlox GEM that can generate large wins.

Similarly, ReePlay’s chief executive officer David Johnson spoke about Big Bucks Buffalo GigaBlox’s strengths while expressing confidence in the game’s potential to appeal to operators and players. 

The Power of the GigaBlox Mechanic and Bonus Respins 

The GigaBlox mechanic brings players the guarantee that a minimum of one symbol measuring between 2×2 and 4×4 is going to be seen landing on the reels during each new spin. This includes scatter and wild symbols also.

The Bonus Respins feature can be engaged when a minimum of six coin scatter symbols. When this occurs, they award three respins. Each new coin appearing on the reels thereafter is worth between 1x to 1000x.

Whenever the coins land in a square formation of at least 2×2 while the Bonus Respins feature is triggered, they are mixed to form a Mega Coin. They also feature a multiplier worth twice the sum of the multiplier values of all of the combining symbols.

The game also provides players with the Buy Bonus alternative feature that will send them right into the Bonus Respins feature where the Mega Coin will already be engaged.

Even though St. Louis City players are in top form since the start of the 2023 MLS season, oddsmakers think it’s Real Salt Lake that’s more likely to win on Saturday. One reason is that these guys are famously good in Utah.

Real Salt Lake vs St. Louis City Odds

*Odds taken from bet365 on Wednesday, March 23, 2023.

When, Where, and How to Watch?

• Place: Crypto.com Arena in Los Angeles, California
• Date: Wednesday, March 22, 2023
• Time: 10:000 PM ET
• How to Watch: ESPN

Home Turf Really Means a Lot to Real Salt Lake

Last year, Real Salt Lake went 12-11-11 in the regular season. At home, their record was 9-5-3, meaning that more than two-thirds of the points they collected in 2022, they collected at Rio Tinto Stadium.

This season, they’re 1-0-2, with their only win happening at home. Their two losses happened one on the road and one in Utah. The defeat at home was in their most recent game, which saw them lose 2-1 to Austin FC.

What happened there was that they were unable to break the opposition’s defensive wall. They had 17 goal attempts that day, but just one of those produced a goal. Will they struggle to score this coming Saturday as well? We think so and the main reason is that St. Louis City are fantastic at the back.

St. Louis City Showing No Signs of Slowing Down

The MLS newcomers have all wins thus far in the 2023 season, with a score differential of 11-4. They’ve been brilliant in the offense, with seven different players scoring at least a goal. When it comes to their defense, their goalie Roman Burki hasn’t had too much work to do.

Excluding their first-ever MLS game which saw them beat Austin FC 3-2, the former Dortmund goalkeeper hasn’t had the need to intervene more than just four times per game. It’s because his teammates did a great job in keeping the opposition away from him in all of those matches.

Real Salt Lake vs St. Louis City Prediction

Real Salt Lake might be great at home, but judging by what we’ve seen so far from St. Louis City, these guys are superb on the road. They look strong in every aspect of the game, which is why we do think they’re going to prolong their winning run for at least one more week.

Pick: St. Louis City to win

The company has expanded its Advisory Board with new officers who will be helping the organization better guide policies on responsible gambling in North America. Among the new additions is Christopher Hebert, director of the Gaming Division in the Louisiana Attorney General’s Office.

New Appointees Strengthen the NCPG

Hebert will step in the position of chair of the advisory board, and he is replacing the outgoing incumbent, Oregon Lottery director of corporate social responsibility, Stacy Shaw. Fittingly, Martin Lycka is the new vice chair. Lycka is Entain Group’s SVP of American regulatory affairs & responsible gambling, and one of the biggest proponents of championing safe gambling practices in the North American market.

Commenting on these appointments, Keith Whyte, NCPG’s executive director, said that he was pleased to expand the NCPG’s board expertise with two important additions. “We are incredibly pleased,” Whyte noted, and said:

They have both been highly engaged leaders in our field for years, and we are excited to utilize their talents and expertise in a new way. I look forward to working closely with the full advisory board to advance the organization’s mission and our ambitious goals for the future.

Keith Whyte, NCPG’s executive director

Hebert was similarly excited to be joining the team. He said that the NCPG had been unrivaled in its efforts to tackle gambling-related harm and bring more awareness to the issue. Hebert called the opportunity humbling and he intended to give it his best and serve as advisory board chair to the benefit of the organization and consumers in North America.

He is a well-seasoned veteran with a lot of fitting legal background. Hebert served for more than 17 years as assistant attorney general and has worked actively on the creation of the Problem Gambling Resource Services program which he collaborated on with the Louisiana Department of Health.

Responsible Gambling Is the Ultimate Goal

The goal of the program is to help promote awareness for responsible gambling while addressing problem gambling and abolishing gambling-related stigma, helping vulnerable individuals get linked with treatment options.

Lycka was similarly excited at this fresh opportunity. As a trustee at the Entain Foundation US, a different entity set up to specifically look into responsible gambling, corporate compliance and sports integrity, he has been intimately involved with promoting the principles of safer gambling.

“The National Council on Problem Gambling is widely recognized as a nationwide leader in problem gambling awareness, education, and advocacy,” Lycka stated in welcoming his new appointment and said that he will be honored to be the vice chair and help forward the NCPG cause.

The leading digital sports media group, Better Collective, released Thursday its 2022 annual report. The company highlighted strategic achievements and significant growth within regulated markets it has seen last year. At the same time, the new report hinted plans for further expansion and financial targets for the future.

In 2022, Better Collective enjoyed strong growth in EBITDA and revenue, resulting in the breaking of all records. The company said that new market launches, sports events and partnerships helped supercharge that process, resulting in outstanding results.

At the start of 2022, Better Collective acknowledged the launch of the regulated mobile sports betting market in New York. According to the company, competition in the state was fierce which combined with the high taxes created issues for some of the operators.

Still, Better did not rule out the possibility of reducing taxes which, in turn, can result in an increase in the number of New York sportsbooks. Despite the difficulties, the company acknowledged that it has seen significant growth in the state and observed thousands of visits of its sports media brands from sports fans daily.

Besides New York, Better acknowledged the positive impact of the FIFA World Cup near the end of 2022. The sports media company pointed out that the famous soccer tournament in November and December was one of the most successful events in the company’s history.

The Company Enjoys US Growth, Plans to Continue to Invest

Last year proved to be successful for Better’s US-facing operations. Back in 2021, when the company acquired Action Network, it set an ambitious goal to reach $100 million in revenue during 2022. After seeing its financial performance, the company said: “We are very satisfied that we managed to deliver on this.” What’s more, Better pointed out that with strong sports media brands in the US, it now holds a leadership position in the market.

In addition to the growth observed in 2022, the company said that it remains focused on building and investing in its future. Better outlined that last year marked a record for new depositing customers (NDCs) with its partners after reaching 1.7 million. “This bodes well for our future recurring revenue and decreases seasonality,” explained the company.

Besides its achievements in 2022, Better shed some light on its financial targets for the 2023-2027 period. The company planned revenue CAGR growth of 20%, as well as EBITDA margin before special items of 30% to 40%. Finally, Better pointed out that it plans to continue to deliver value for its shareholders on its way to expanding further.

The Athletic reported that in legal papers filed last week, Kane stated that he gambled up to 50 times a day, which is a primary reason why he fell into debt.

Evander Kane’s Legal Battle Reveals Startling Details of His Gambling Addiction and Debt

Kane’s legal team presented the player’s family background in the lawsuit brought by his biggest creditor, Centennial Bank, which stated that his mother, Sheri, was a stay-at-home mother who raised Kane and his sisters, growing up in Vancouver’s lower-class area. 

Kane began playing professional hockey straight out of high school at 18, and although he earned $76 million throughout his 14-year career, his family never owned a home, struggled financially, and lived month-to-month.

The missing paperwork includes details on Kane’s gambling losses, which he revealed for the first time as the principal reason he lost so much money. According to Kane, his gambling addiction began in 2012 when he signed his first big contract in the NHL with the Winnipeg Jets, just as the league went into lockout. 

Kane borrowed $50 million between 2014 and 2019, initially to pay off a gambling debt and other expenses, and then to pay off previous loans. He borrowed 26 times from institutional lenders and seven times from individuals, including more than $1.1 million from two men his legal team described as “middlemen” for bookies, Mike Lispti and Pete Gianakas.

Financial Illiteracy and Gambling Plague Athletes’ Finances

Kane found himself struggling with no way to support his family as he had pledged, which made him view gambling as a quick way to make money. Most of his gambling losses were with bookies and were largely undocumented. The websites they had him gamble through no longer exist, according to his legal team.

Drew Hawkins, a provider of financial education initiatives for sportspeople, noted that while Kane’s situation involves larger sums, the underlying issue echoes the financial difficulties faced by several other athletes. Many of them come from disadvantaged backgrounds, lack financial literacy, rely on subpar advisors, and frequently resort to gambling. 

Hawkins observed that these athletes are usually left to fend for themselves and struggle to make prudent financial decisions, resulting in distressing accounts of individuals falling into substantial debts due to impulsive spending or gambling.

Kane’s creditors argued that the athlete should not be allowed to use undocumented claims of gambling losses to explain away his debt. They stated that he should have subpoenaed his bookies and the casinos where he lost money and that as he could not account for his losses, he should not be able to complete Chapter 11 and walk away from his debts, calling the bid “shocking.”