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What is Ultra Roulette?
“We expect non-sports categories such as economics, politics, crypto, and entertainment to gain share over time,” says the analyst.
Prediction market operators are on legal losing streaks, confirming that Beynon is onto something when he says the regulatory environment is the biggest risk facing the industry.
“We continue to view regulation as the largest risk to prediction markets,” says the analyst. “While industry growth remains robust, adverse legal outcomes could materially impact sports contract availability and long-term adoption.”
What is Ultra Roulette?
In an op-ed for the Chicago Tribune in June, Grasso complained that “some members of the Chicago news media stigmatize Italian Americans as Outfit members or mafia operatives whenever it serves to embellish a story.”
Federal prosecutors, however, do not mention the mafia in court documents. They allege the gambling ring generated millions of dollars through illegal sports betting, video gambling, and loansharking operations, with members using intimidation and violence—or the threat of it—to collect debts.
Rovito’s past criminal record includes convictions for aggravated criminal sexual assault and possession of a controlled substance.
How to play Ultra Roulette
The ASA reviewed a clip posted to TikTok in July promoting Midnite, a Gibraltar-based online casino app. The clip displayed a young-looking man using the app, accompanied by the voiceover: “Another massive World Cup upset. Bet £10 on the big match and get £30 in free bets. Level up your World Cup with Midnite, get on it.”
According to the ASA’s Code for gambling advertising, anyone who “was, or seemed to be, under 25 years of age” must not be depicted gambling or playing a significant role in advertisements.
The regulator concluded that the central figure’s youthful facial features, casual styling and excited demeanour gave the impression he was in his late teens or early twenties.
