Digital Wager Wire highlights the most significant events affecting the domestic and international sports betting and gaming industries each week throughout the year.
Circa Survivor Contest Attracts Global Attention
Circa Sports in Las Vegas is the home of the world-renowned Circa Survivor Contest, in which a $1000 entry can punch a ticket to millions of dollars in prize money. The rules are simple. Pick one NFL team each week to win its game; no point spread, and advance to the next week if that team wins. If not, the season is over, and so too is the $1000 entry fee.
The lone caveat is that a team can only be chosen once during the season. Circa has added two holiday mini-weeks, which means contestants must pick a total of 20 winners over the course of the 18-week season. If you want an entry, or the maximum of 10, you must register at one Circa’s properties, including the Circa Resort & Casino, the D Las Vegas, Silverton Casino Lodge, Tuscany Suites and Casino, and Legends Bay in Sparks, Nevada.
Out-of-towners, of which there are many, can procure proxy services ranging from $100 to $250 per entry for as long as the entry lasts in the contest. It should be noted that the house takes no rake from the contest, which is one reason it has grown exponentially each NFL season.
“It is pretty stunning to consider that less than a decade ago that our ‘contest weekend’ was a handful of radio stations and a panel with about 40 people in attendance,” said Mike Palm, VP of Operations at Circa Resort & Casino, the D, and Golden Gate.
“As our contest payouts have gone from a few million dollars to $30 million guaranteed and pacing toward $40 million total, our contest weekend is now three days of programming that includes 40+ radio stations and podcasts, a winners’ dinner, a meet and greet at BarCanada, a Stadium Swim Day, a shootout blackjack tournament that had 86 participants and a panel with hundreds in attendance and thousands watching via stream,” Palm added.
Participants come from all over the world, and reports say this year’s contest has already attracted more than 16,390 entries competing for a guaranteed $20 million prize pool, which will likely be much more once all entries are tabulated.
New Jersey Wants SCOTUS Intervention
The legal challenges between prediction markets and state gaming regulators are reaching a critical mass, as New Jersey has petitioned the US Supreme Court to decide, once and for all, whether the federal jurisdiction of the Commodity Futures Trading Commission supersedes that of state authorities over sports event contracts masquerading as sportsbook offerings.
NJ Atty. Gen. Jennifer Davenport said in a release, “Companies like Kalshi claim to offer legal sports betting in all 50 States, but they refuse to follow the gambling laws of any. These companies have no right to offer their sports bets without following state law, which is why dozens of States across the ideological spectrum have opposed them.
“States have long adopted careful laws to regulate gambling, including to prevent compulsive gambling, gambling by minors, and insider trading on sports games. We’re calling on the Supreme Court to resolve this issue and recognize that Congress did not silently make the sports-betting industry immune from state law.”
Kalshi spokesperson Dani Lever voiced his displeasure with the petition, stating that Kalshi “is an open, nationwide financial exchange. It cannot be regulated by 50 different regulators.”
