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The stunning indictment that led to the arrest of more than 30 people, including Miami Heat guard Terry Rozier and other NBA figures, on charges of illegal sports betting has drawn new scrutiny of the booming business of professional sports gambling across the U.S.Since widespread legalization, the multibillion-dollar industry has made it easy to place wagers on everything from the outcome of games to that of a single play with just a few taps of a cellphone. It’s just about impossible to go to a basketball, football, baseball or other pro game today or watch a matchup on TV without seeing ads for sports betting.Fans can place wagers from their stadium seats, while “Bet” tickers scroll on TV sports broadcasts. Star athletes are frequently at the center of ads promoting it all.In Thursday’s indictment, federal investigators accused Rozier and other defendants of breaking the law by exploiting private information about players to win bets on NBA games. Rozier’s lawyer, Jim Trusty, said in a statement that his client is “not a gambler” and “looks forward to winning this fight.”A separate indictment alleges Portland Trail Blazers coach Chauncey Billups and others participated in a conspiracy to fix high-stakes card games. Billups’ attorney, Chris Heywood, issued a statement denying the allegations, calling his client a “man of integrity.”Regulating sports wagering has proven to be a challenge and experts warn about the ramifications for gamblers who typically lose money. Professional leagues’ own role in promoting gambling has raised eyebrows. Here’s what we know. Explosion of legalized sports betting Sports betting is probably as old as sports itself. But in the U.S., legal gambling really took off in 2018.That’s when the Supreme Court struck down the Professional Amateur Sports Protection Act, which barred sports betting in most states. Once allowed only in Nevada, sports betting is now permitted online or in retail locations in 38 states and Washington, D.C. Missouri will become the 39th state on Dec. 1.Experts say the biggest jump has been online, through smartphone apps and platforms like DraftKings and FanDuel. Through the third quarter of this year, legal sports betting generated $10 billion in revenue, up about 19% from the same period a year ago, according to the American Gaming Association.The industry argues that legal wagering generates money for states and can deter illegal betting. Major operators point to technology they use to monitor suspicious activity. FanDuel said Thursday’s news illustrates “the stark contrast between legal and illegal betting markets.” Who benefits? There is plenty of money on the table both for those who place winning bets and the platforms that make it possible. The NBA and other pro sports leagues have also created revenue streams by partnering with sportsbooks and reaping advertising dollars.Live game stats provided by leagues are key to the sports world’s relationship with the gambling industry. When you’re able to bet what the next pitch in a baseball game is going to be, that’s because Major League Baseball is selling data to platforms “for a pretty high price,” according to Isaac Rose-Berman, whose research focuses on sports betting as a fellow at the American Institute for Boys and Men.The NBA has a partnership with Sportradar for its data rights. Sportradar, in turn, provides FanDuel Sportsbook official NBA statistics. When the deal was announced in 2022, Sportradar touted it as a way “to monetize our long-term partnership with the NBA.” How is sports betting regulated? Each state has its own regulations and tax rates for sports betting. A handful restrict where you can place bets allowing users to use mobile apps, but only while they’re physically inside a casino or within a certain radius of a stadium, for example. Others limit which betting platforms you can use or what you can bet on.“States sort of opened up a can of worms, and now some of them are starting to realize just how crazy this sports betting world sort is,” said Wayne Taylor, a professor of marketing at Southern Methodist University.An even stickier factor is when players and other team or league personnel are involved. The NFL, NBA, MLB and NHL all prohibit employees and players from betting on their own league games, although some gambling in separate areas is allowed.Legalized betting has certain security advantages in that unusual betting patterns such as large bets being placed on a random player’s performance can be immediately flagged. In some cases, sportsbooks have taken down odds on certain events to protect against manipulation.Still, experts like Taylor note that companies’ own financial interests may bring some of that into question. And across the sports market, he says the large number of players and scope of micro bet possibilities makes potential manipulation “easier to hide.” What is prop betting? A prop is a type of wager that allows gamblers to bet on whether a player will exceed a certain statistical number, such as whether a basketball player will finish over or under a certain total of points, rebounds, assists and more.This kind of bet is key to the sports betting probe announced Thursday. Investigators pointed to a March 23, 2023, game involving Rozier, then playing for the Charlotte Hornets.Rozier played the first 9 minutes and 36 seconds of that game and not only did he not return that night, citing a foot issue, but he did not play again that season. He finished with five points, four rebounds and two assists a productive opening quarter, but well below his usual total output for a full game. At the time, many bettors turned to social media to say that something shady occurred regarding prop bets involving his stats for that night.More broadly, the NBA has expressed concern about prop bets, while other sports leagues have worried about the potential for manipulation.Earlier this year, Ohio Gov. Mike DeWine urged his state’s gambling commission to ban prop bets after Major League Baseball placed two Cleveland Guardians pitchers on leave during a sports betting investigation. What are other pitfalls and social implications? Sports betting also faces criticism for opening the door to addictive gambling.“The fact that it’s normalized, the advertising is aggressive, it’s available 24/7, the micro bets all of this is adding up to tremendous increase in usage across individuals,” said Taylor, citing algorithms and other incentives betting platforms use to increase engagement.Rose-Berman notes that platforms make the most off of returning “biggest losers.” Recent research suggests that young men in low-income communities are particularly affected by financil consequences tied to sports gambling.“Upwards of 90% of sports bettors are not really going to experience significant negative impacts but it’s really concentrated among those big losers and it’s going to be devastating for them,” he said. Associated Press reporters Tim Reynolds in Miami, David Lieb in Jefferson City, Missouri, and Alan Suderman in Richmond, Virginia, contributed to this report. Wyatte Grantham-Philips, AP Business Writer
Category:
E-Commerce
Kering released its third-quarter 2025 financial results on Thursday, showing it reduced the slump it had seen in the previous quarter. The French luxury goods house, which owns brands like Balenciaga, Gucci, and Yves Saint Laurent, reported 3.42 billion euros ($3.97 billion) in group revenue, down 5% year-over-year (YOY) compared to a 15% drop in quarter-two. It also beat Wall Streets estimate of a 9.6% decline, according to consensus estimates cited by Reuters. Kering attributed the reduced revenue YOY, in part, to a negative currency effect of 5%. Luxury is in a lull As a whole, luxury brands have struggled in recent years, with blame boomeranging between factors like changing desires among young consumers, a domino effect from the COVID-19 pandemic, and a downturn in Chinaone of luxurys biggest markets. At Kering, Gucci, specifically, was still in a lull, though it saw an improvement over quarter twos 25% drop. The brand just beat its predicted revenue of 1.32 billion euros ($1.53 billion), with 1.34 billion euros ($1.56 billion) and a 14% decline YOY, according to consensus estimates cited by CNBC. Fashion designer Demna took over as Guccis artistic director in July after a decade in the same role at Balenciaga. Yves Saint Laurent had a 4% decrease in revenue YOY, while other parts of the business saw an uptick in YOY revenue: Bottega Veneta is up 3% and Kering Eyewear is up 7%. The new boss is not especially happy with the results Kerings third-quarter performance, while representing a clear sequential improvement, remains far below that of the market, Kering CEO Luca de Meo said in a statement. This reinforces my determination to work on all dimensions of the business to return our Houses and the Group to the prominence they deserve. We are working relentlessly on our turnaround, as shown by our recent decisions. De Meo, previously the chief executive of automotive giant Renault, took the helm at Kering on September 15, most of the way through quarter three. Former CEO François-Henri Pinault stayed on as chairman of the board of directors. Kerings shares (EPA: KER) were up 8.7% at close on Thursdaya high for 2025before falling over 4% during trading on Friday. The earnings report comes only a few days after Kering announced the all-cash sale of its beauty division to LOreal for 4 billion euros ($4.6 billion). That deal is expected to close in the first half of 2026 and gives LOreal ownership over the House of Creed high-end fragrance company and licenses for brands including Balenciaga, Bottega Veneta, and Gucci. Kering will receive royalty payments from LOreal. The latter has owned the beauty license for Kerings Yves Saint Laurent, since 2008.
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E-Commerce
Alaska Airlines said its operations have resumed Friday after it had to ground its planes for hours because of an information technology outage. The airline said in a statement that 229 flights were canceled because of the outage and that more flight disruptions were expected as it worked to reposition aircraft and crews. Alaska Airlines said it is working on getting travelers affected by the disruption to their destinations. It asked that passengers check their flight status before heading to the airport. The grounding Thursday affected Alaska Air and Horizon Air flights. Hawaiian Airlines, which was bought by Alaska Air Group last year, said its flights were operating as scheduled. In July, Alaska grounded all of its flights for about three hours after the failure of a critical piece of hardware at a data center. There has been a history of computer problems disrupting flights in the industry, though most of the time the disruptions are only temporary. The story has been updated to correct the time element of operations resuming to Friday, from Thursday, and the day of the grounding to Thursday, from Wednesday.
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E-Commerce
President Donald Trump announced he’s ending “all trade negotiations” with Canada because of a television ad opposing U.S. tariffs that he said misstated the facts and called “egregious behavior” aimed at influencing U.S. court decisions.The post on Trump’s social media site came Thursday night after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside the U.S. because of the threat posed by Trump’s tariffs. Trump’s call for an abrupt end to negotiations could further inflame trade tensions that already have been building between the two neighboring countries for months.Trump posted, “The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs.”“The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts,” Trump wrote on his social media site. “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED.”Carney’s office didn’t immediately respond to a request for comment. The prime minister was set to leave Friday morning for a summit in Asia, while Trump is set to do the same Friday evening.Trump, a Republican, was still at it on Friday morning, furiously posting on his social media site that “CANADA CHEATED AND GOT CAUGHT!!!” on the tariff ad.“THE UNITED STATES IS WEALTHY, POWERFUL, AND NATIONALLY SECURE AGAIN, ALL BECAUSE OF TARIFFS!” he wrote in a separate post on his Truth Social account. “THE MOST IMPORTANT CASE EVER IS IN THE UNITED STATES SUPREME COURT. GOD BLESS AMERICA!!!”Earlier Thursday night, the Ronald Reagan Presidential Foundation and Institute posted on X that an ad created by the government of Ontario “misrepresents the ‘Presidential Radio Address to the Nation on Free and Fair Trade’ dated April 25, 1987.” It added that Ontario did not receive foundation permission “to use and edit the remarks.”The foundation said it is “reviewing legal options in this matter” and invited the public to watch the unedited video of Reagan’s address.As for the Supreme Court, Trump is referring to a case scheduled for early November in which the justices will consider the legality of his sweeping tariffs. Two lower courts have determined that Trump cannot unilaterally impose wide-ranging tariffs under an emergency powers law. His administration argues otherwise, saying he can regulate importation and that includes tariff policy.Carney met with Trump earlier this month to try to ease trade tensions, as the two countries and Mexico prepare for a review of the U.S.-Mexico-Canada Agreement, a trade deal Trump negotiated in his first term but has since soured on.More than three-quarters of Canadian exports go to the U.S., and nearly $3.6 billion Canadian ($2.7 billion U.S.) worth of goods and services cross the border daily. Trump said earlier this week that he had seen the ad on television and said that it showed that his tariffs were having an impact.“I saw an ad last night from Canada. If I was Canada, I’d take that same ad also,” he said then.In his own post on X last week, Doug Ford, the premier of Ontario, posted a link to the ad and the message: “It’s official: Ontario’s new advertising campaign in the U.S. has launched.”He continued, “Using every tool we have, we’ll never stop making the case against American tariffs on Canada. The way to prosperity is by working together.”A spokesperson for Ford didn’t immediately respond to a request for comment Thursday night. But Ford previously got Trump’s attention with an electricity surcharge to U.S. states. Trump responded by doubling steel and aluminum tariffs.The president has moved to impose steep U.S. tariffs on many goods from Canada. In April, Canada’s government imposed retaliatory levies on certain U.S. goods but it carved out exemptions for some automakers to bring specific numbers of vehicles into the country, known as remission quotas.Trump’s tariffs have especially hurt Canada’s auto sector, much of which is based in Ontario. This month, Stellantis said it would move a production line from Ontario to Illinois Associated Press writers Seung Min Kim in Washington and Rob Gillies in Toronto, Ontario, contributed to this report. Will Weissert, Associated Press
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E-Commerce
I will never forget the day I realized how rare it is to see businesses support parentsor what a huge impact even the tiniest efforts can make. Were just going to run into the store for a few quick things! I called to my two kids with confidence as I unloaded them from the car, skipping the bulky stroller and putting my 1-year-old in the shopping cart seat. But what should have been a simple trip took a turn when we unexpectedly needed to visit the restroom. As any mom knows, this is where things can start to unravel: You cant take the cart inside, so what are you supposed to do with your not-yet-walking child while you help the bigger one use the toilet? And how are you supposed to use the toilet yourself while also holding a squirmy baby? {"blockType":"creator-network-promo","data":{"mediaUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2015\/08\/Two-Truths-single.png","headline":"Subscribe to Two Truths...","description":"a newsletter that explores the many truths of motherhood through news round-ups, trend reports, and expert-backed deep dives on topics that matter to moms. To learn more visit twotruths.substack.com","substackDomain":"https:\/\/twotruths.substack.com","colorTheme":"salmon","redirectUrl":""}} I opened the door and braced myself for the chaos that would certainly comeso when I stepped into a large stall and saw a strap-in baby holder attached to the wall, I could have wept with relief. Then, the appreciation rolled in: These wall-mounted baby safety seats are a game changer for parents who are tasked with taking kids to the restroom. But then I was hit with confusion: Why are simple considerations like this one so rare to see? Why am I so impressed with what should really be considered the bare minimum when it comes to supporting parents in public places? Since thenduring countless visits to kid-friendly spaces like the zoo, the pediatricians office, department stores, and public parksIve always noticed and questioned how businesses support (or dont support) parents. (You know what would make life unbelievably easier for parents? A $15 step stool so kids can reach the sink to wash their hands. I think about this almost every day.) https://www.threads.com/@motherspeak/post/DMaDCwwOV6G?xmt=AQF0ERX0a5kpyUnw-O98LoVt3rNq8jKzxZktM8aRA52h-A&slof=1 Appealing to parents isnt just a do-good strategy, eitherits good business. Gen alphaborn between 2010 and 2025is on track to be the biggest generation ever in history, says Lauren Smith Brody, founder of The Fifth Trimester, a business strategy firm focused on moms. So anything retailers and public spaces can do to welcome that generation now will only build brand loyalty that will pay off later. Kid-friendly policies and spaces signal a friendly, inclusive, thoughtful culture overall, she says. The step-stool in the bathroom and the animatronic ear of corn [at Stew Leonards, a grocery chain in the northeast] attracts and retains parents as customers, but they also signal to everyone: Humanity is valued here; joy and ease are a part of this experience. Numerous studies indicate that Gen Z and younger millennials are also values-driven in their shopping. Recently, we asked our audience what considerations theyd like to see businesses make to better appeal to parentsand hundreds of moms weighed in. What did we learn? One: Prioritizing parents isnt unheard of; some industries and places are already getting it right. And two: The most common requests from parents and caregivers are mostly minor, reasonable, and would go a long way for families and businesses. Heres a look at what categories are getting things rightand how businesses can improve their family-friendly policies. Hotels have long catered to familiesand are doing even more today Many hotels offer smart amenities to make life a little easier for parentsincluding complimentary kids gear, babysitting services, and much more. The Four Seasons, in particular, has long been known to cater to families. The Philadelphia and Baltimore properties will provide you with a Baby Brezza bottle washer, bottle dryer, breastmilk & formula warmer, and more. The Four Seasons Hotel Boston features a kids toy closet located behind the check-in desk for little ones to explore while caregivers check in and out. This allowed us a few moments to get everything sorted, and the kids were in heaven, said Cassie Shortsleeve, a mom of three in Boston (and a cofounder of Two Truths). In Orlando, you dont need to worry about packing swim diapers (theyre provided), and you can request items to childproof a room. Properties like Carmel Valley Ranch (see: the “Munchin Menu”) and Wequassett Resort & Golf Club also have partnerships with major childrens brands, such as Nuna and Maxi-Cosi, to borrow or rent gear like strollers, playards, baby carriers, and more. Some shopping destinations have become more family-friendly Ikea was a big winner among our responses. They have that Scandinavian family-friendliness, says Marissa Lanterman, a mom of one in Baltimore. Family parking, cart and stroller accessibility, high chairs in all eating areas, changing tables in bathrooms, step stools for kids at sinks, comfy baby care rooms, Smland . . . you really cant beat it. For new moms in particular, Nordstrom was a standout shopping destination mentioned multiple timesmostly for its family restrooms and clean, comfortable lactation lounges with couches and sinks. Another favorite: Wegmans. They have built-in stepping stools in the bathroom at the sinks, a baby holder in the stalls so you can use the toilet in peace, a wall of every size diaper available for free if needed, and little car carts to keep toddlers occupied while shopping, says Sara Creary, a mom of one in Pittsford, NY. Many eateries keep kids in mind One (potentially surprising) space that many moms praised? Breweries. Our loal brewery is like our own little Europea public space for play and relaxation for kids and adults alike, says Lily Dunlop, a mom of two in Seattle. Kelsey Glynn, a mom of three, says her favorite brewery even brings out complimentary kid snacks: At BJs Restaurant & Brewhouse here in Arizona, they immediately serve a plate of fruit and Goldfish to help manage kids hunger before their food arrives at the table. A coffee shop I went to had a kids corner with a play kitchen and espresso machine, says Christa Ursini, a mom of one in South Salem, NY. It was magicparents could enjoy their coffee while their kids played. Public spaces can be kid-friendly Its not just specific businesses that cater to kids and families, but public places more generally, as well. Some popular family travel destinations are full of family-friendly spots, but also put families first when it comes to strategic planning and development: Newport, RI, for one, is dotted with parks and playgrounds throughout and in between more formal stops like an aquarium or an old-school arcade that may be on an itinerary. To that point, moms we spoke to highlighted that public places that attract kids, such as playgrounds and parks, should have some key components: water fountains, bathrooms, shade, and fencingall critical aspects for parents that can make or break the decision of where to spend your time. Pop-up lactation podssuch as Mamavaare another great feature for businesses of all sizes, but especially handy in spaces like airports, zoos, and amusement parks. Theres more to be done: Heres what parents want When we asked our audience how businesses could improve for parents, we were struck by the similarity between responseswith many requests, especially very basic ones, appearing again and again. Here are the main takeaways. In bathrooms: Baby changing tables in both the womens and mens rooms, ideally located within a stall for privacy. (Its really jarring to go to a restaurant that has high chairs and crayons at the table, but not a single baby changing table in any bathroom, one mom told us. Am I supposed to put my baby on the floor?) Lower sinks or step stools that allow small kids to wash their hands Paper towels as an alternative to loud hand dryers (which many kids are afraid of or sensitive to) Bag hooks and/or shelves near sinks and changing stations Within dining establishments: Disposable table covers so kids can eat off a sanitary surface High chairs and booster seats that areand this is important!kept clean Food-safe wipes available for parents to clean tables and high chairs as needed Stainless steel kid-sized cutlery Kids cups with lids Disposable bibs Activities for kidsfrom basic (crayons and coloring sheets) to bonus (toy basket, Magna-Tiles, books, etc.) Healthier, lighter kids’ menu options (fruit, cheese, crackers, nuts, veggies & dip, etc.) Outdoor play areas (when space allows) are huge bonus that many parents will seek out In stores: Aisles that are wide enough to accommodate strollers Increase curbside pick-up options More parking spots reserved for families (either near the door or near the cart return) Simple treats that make kids excited to visit (like stickers, la Trader Joes) In a society that is woefully lacking systemic support for parents and often unconducive to kids, businesses have a powerful opportunity to step up and set new standards that show families they are seen, appreciated, and valued. Any business that goes the extra mile for parents really stands out, driving word of mouth and customer loyalty, says Brody. And any public space that makes parents feel good about the love and work theyre pouring into their kids is going to win that business in a big way. {"blockType":"creator-network-promo","data":{"mediaUrl":"https:\/\/images.fastcompany.com\/image\/upload\/f_webp,q_auto,c_fit\/wp-cms-2\/2015\/08\/Two-Truths-single.png","headline":"Subscribe to Two Truths...","description":"a newsletter that explores the many truths of motherhood through news round-ups, trend reports, and expert-backed deep dives on topics that matter to moms. To learn more visit twotruths.substack.com","substackDomain":"https:\/\/twotruths.substack.com","colorTheme":"salmon","redirectUrl":""}}
Category:
E-Commerce
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