Lore Alerts

The lore, as it happens.
Breaking news, industry updates & more from @GamblingLore.

[Gambling Lore @GamblingLore]

HACKERS DRAIN $3M FROM @Gamdom FORCING THE SITE OFFLINE

Hot wallet balances fell by $11.27M. @Romer confirmed just over $3M was stolen, with remaining funds moved to cold storage.

[Lore Alerts @LoreAlerts]

🚨 UPDATE: After our report of an $11.27M drop in @Gamdom's tracked wallet balances, owner @Romer confirms $3M was stolen in a security breach.

Romer says the breach targeted Gamdom's hot wallet system, the team took measures to stop the drain and moved remaining funds into cold storage.

the casino is expected to come back online within the next few hours.

[Felix @Romer]

We have fully ran all checks & are now preparing to bring Gamdom back up - this process will take a couple of hours

Long story short, we noticed a breach attacking our hot wallet system & we took measures to stop the drain, in total we lost just over $3m to the breach and secured other hot wallet funds to our cold wallets

We appreciate everyone's patience and the support that we have gotten from friends, partners, users & even competitors

[Lore Alerts @LoreAlerts]

Former UFC Bantamweight Champion Merab Dvalishvili is a Stake ambassador 🤝

Merab joins a long list of UFC fighters on Stake’s roster, including Israel Adesanya, Alex Pereira, Alexandre Pantoja and Caio Borralho.

Stake’s UFC involvement goes back to 2021, when it signed Adesanya as its first ambassador and became the UFC’s first official betting partner 👀

[Merab “The Machine” Dvalishvili @MerabDvalishvil]

Loading @Stake 🦾

[Lore Alerts @LoreAlerts]

🚨 UPDATE: @Gamdom has confirmed why they took their systems offline, following our earlier report of an $11.27M decline in tracked wallet balances.

The casino says it discovered an unauthorized connection to one of its automation servers while investigating a potential disk failure.

Gamdom took all systems offline as a precaution and says user funds are safe.
https://t.co/7LMTI64raL

[Lore Alerts @LoreAlerts]

🚨 UPDATE: @Gamdom has confirmed why they took their systems offline, following our earlier report of an $11.27M decline in tracked wallet balances.

The casino says it discovered an unauthorized connection to one of its automation servers while investigating a potential disk failure.

Gamdom took all systems offline as a precaution and says user funds are safe.
https://t.co/7LMTI64raL

[Gamdom.com @gamdom]

Approximately 24 hours ago, we detected a potential disk failure on one of our servers. During our investigation, we identified an unauthorized connection on one of our automation servers, which prompted further investigation.

As a precautionary measure, we made the difficult decision to take all of our systems offline in order to fully assess the situation and protect our users.

User funds are safe. We are working to restore services as quickly and securely as possible. We appreciate your patience and will provide further updates as we progress.

[Lore Alerts @LoreAlerts]

Gamdom says they are still working to bring the site back online - the wallet movements are potentially a precautionary measure during the downtime.

[Gamdom.com @gamdom]

We are still working on getting the site back online. Thank you all for your patience.

[Gambling Lore @GamblingLore]

On this day five years ago, Jagex announced the end of RuneScape’s Duel Arena.

The founders of @Stake, @Gamdom and Duel all got their start in RuneScape gambling.

We look back at RuneScape gambling and the casino founders it produced: https://t.co/KYlnsK4KwT

[Lore Alerts @LoreAlerts]

🚨 @Gamdom has been offline for 4 hours, while its tracked hot wallets have dropped by approximately $11.27 million in the last 24 hours.

Data from @circusfyi shows a 98% decline in tracked balances across multiple chains.

The cause of the downtime and wallet movements remains unclear.

[Gamdom.com @gamdom]

We’re currently offline, will be back up and running soon.

[Lore Alerts @LoreAlerts]

🚨 @Rainbetcom has officially launched its US social casino, @RainbetUSA.

Rainbet is no stranger to American audiences. They gained notoriety from their large scale UGC campaigns that made the brand hard to miss across TikTok, Instagram and other social platforms.

Now with a platform built specifically for US players, will Rainbet double down on the marketing strategy that helped build its brand?

[Rainbetusa @Rainbetusa]

https://t.co/a4xiW4xFBI is now LIVE! 🇺🇸

[Lore Alerts @LoreAlerts]

.@mansourtarek_ says prediction markets are "open markets where people are trading against each other."

while this is true there is some clarification worth adding.

The exchange takes a fee while another "participant" takes the other side. But who is actually taking your bet? Sorry, your “trade.”

Market makers can be a guy in his garage running off a laptop or they can be sports betting syndicates, quant firms and major financial institutions with pricing models, risk management and massive balance sheets.

This becomes especially relevant with parlays or "combos."

Retail traders click a few selections, get a price and submit their trade. Behind that price is an RFQ, a request for quotes that other "participants" aka market makers respond to in milliseconds.

“Trading against each other” sounds like another retail bettor taking the opposite side. In reality you could be up against a sports betting syndicate or quant firm with the models, data and a massive balance sheet waiting to price your bet in its favor.

So yes, there's a difference between an exchange matching participants and a sportsbook taking the bet itself.

That leaves the question though how does moving the risk from the platform to a market maker make the customer's activity any less gambling?

The platform takes a fee. A professional takes your bet. You’re still betting on outcomes. Which part makes it less gambling?

[Americans For Fair Markets @FairMarkets_US]

🚨 WATCH: Kalshi CEO @mansourtarek_ DISMANTLES the claim that prediction markets are gambling.

Casinos profit when customers lose. Prediction markets match buyers and sellers, regardless of who wins.

“Kalshi doesn't make more or less money from winners or losers.”

[Lore Alerts @LoreAlerts]

🚨 @Gamdom has put a $10,000 monthly sponsorship offer on the table for anyone on the @UFC roster.

@Stake is partnered with the UFC. But Gamdom wants to go straight to the fighters.

The offer works out to $120,000 a year. For context, several fighters at last month’s UFC Sacramento earned purses of just $12,000, before extra bonuses.

Sponsor the organization, or pay the people everyone tunes in to watch?

[Gamdom.com @gamdom]

Getting punched in the face for a living should come with a guaranteed bag.

Gamdom is offering EVERY UFC fighter $10,000/month.

No knockout bonus required. 💰

[Lore Alerts @LoreAlerts]

1win is getting ready to launch its own token, $1WIN, on Solana and BNB Chain.

The setup is similar to most casino tokens. 1win will buy back tokens weekly using 10% of revenue from games played with $1WIN, and burn 10% of all $1WIN spent on the platform every day.

The catch is the buyback only comes from games played with the token itself, not 1win’s overall revenue. So the token only gets support if people actually use it, and people only use it if it’s holding its value.

Distribution is another question. The first tokens are going to users of 1win’s Telegram tap-to-earn app. Tap-to-earn airdrops have a history of getting sold straight away, because most people farmed them for free and have no reason to hold.

That’s where most casino tokens fall apart. They launch with hype, early holders sell, and the buybacks aren’t big enough to absorb it.

@Shuffle is the main example of one that held up. ethereum:0x8881562783028f5c1bcb985d2283d5e170d88888 buybacks and its weekly lottery are funded by the platform’s wider revenue, so holders are backed by the whole business, not just token usage.

1win has the user base to make it work. Whether the token survives after launch will come down to how much of that activity actually runs through $1WIN.

[Lore Alerts @LoreAlerts]

.@Roobet has launched Roo Jackpots, a site-wide jackpot with a $10m top prize.

It’s the latest addition after Roobet brought prediction markets to the platform in May, becoming the first major crypto casino to fully integrate them.

There are 4 jackpots to be won, with the biggest paying out $10m.

Players choose how much of each bet goes into the jackpot. $0.25 gets 1 entry, $0.50 gets 2 and $5 gets 20, so the more you put in, the better your chances.

With the market this competitive, more crypto casinos are adding platform-wide features like this to keep players locked in rather than relying only on bonuses.

[Lore Alerts @LoreAlerts]

A hidden player on @Stake just won 24.97m USDT on Plinko, the biggest Plinko win ever 🤯

They bet 2,497.50 USDT on Expert difficulty with 16 rows and hit the 10,000x slot.

The account is hidden, so nobody knows who’s behind the record. Whale or lucky first-timer?

[Lore Alerts @LoreAlerts]

Informa has agreed to buy Clarion, the company behind ICE, in a deal that values it at £2.24bn.

ICE has been the biggest event in the iGaming calendar for years. Every January operators, suppliers and affiliates fly in to take stands, host parties and close deals for the year ahead.

The deal is expected to complete by the end of 2026, which means ICE Barcelona will be under Informa when it runs from 18 to 20 January.

Clarion CEO Lisa Hannant is staying on and joining Informa's leadership team to oversee the integration.

Informa is paying 11x Clarion's expected earnings, funded through acquisition financing and a £940m share offer. Once the deal closes, the group will have around £4.5bn in annual revenue.

This is another example of iGaming's biggest names becoming targets for mainstream companies, with the industry's flagship event now owned by a FTSE 100 business.

[Lore Alerts @LoreAlerts]

Read about the Stake expansion here: https://t.co/XeOcXJKT9V

[Lore Alerts @LoreAlerts]

Stake just announced a launch in Alberta, Canada, adding another regulated market to the brands expansion.

There's been a lot of phases for the operator that led to this global takeover.

@StakeEddie and @BijanTehrani first met on RuneScape, where they got their start in staking.

Then in 2013 they launched @Primedice, a site where players bet Bitcoin on dice rolls with a 1% house edge.

PrimeDice got tested on day one when a player "Bitcoinm" turned 2 BTC into over 200 BTC. Stunna aka Bijan topped up the hot wallet to pay him out. But Bitcoinm told BitcoinTalk he’d offered to take payment over two days, since the site had just launched.

Primedice's start helped build the foundation of the reputation they carried over into the next project - being a reliable and fairly operated casino players can trust.

@Stake launched in 2017 with originals like Plinko, Mines and Blackjack, before adding slots, live casino and a sportsbook to become the platform it is today.

They built their household name through partnerships with streamers, Drake, UFC, F1, football, and many more. Placing the brand everywhere.

Then came Kick, after Twitch’s casino ban Stake’s founders built their own streaming distribution channel, one that even rival casinos use now.

Each launch was a step in the direction of building the global footprint they have now in new markets with more being added.

[Eddie @StakeEddie]

Stake is launching in Alberta, Canada on 11th October following licensing approval 🇨🇦

Canada joins Stake’s growing portfolio of regulated markets around the world, including:

🇩🇰 Denmark (@StakeDenmark)
🇮🇹 Italy (@Stake_Italy)
🇧🇷 Brazil (@StakeBrasil )
🇲🇽 Mexico (@Stake_Mexico)
🇦🇷 Argentina (@stake_argentina)
🇨🇴 Colombia (@StakeColombia)
🇵🇪 Peru (@PeruStake)
🇨🇼 Curaçao (@Stake)

Stake looks forward to continuing to bring our leading product and experience to customers in every market possible!

[Lore Alerts @LoreAlerts]

Read about the ban and where the displaced demand may go here: https://t.co/pKOcZDXrxV

[Lore Alerts @LoreAlerts]

Brazil has banned online sports betting and casinos forcing licensed operators to shut down. But closing those sites won’t necessarily stop the people using them from gambling.

Offshore operators could pick up some of that demand. On-chain casinos could find the opening too especially if they make it easier for players to access games without pushing KYC.

But this also doesn’t make the offshore or on-chain platforms exempt from Brazil’s ban. No KYC and unrestricted access are product choices, not permission to operate.

But that is the potential issue Brazil has created. Licensed businesses are being forced out while their customers will still want to bet.

Brazil can close its regulated market but it just creates the question of who takes the displaced demand?

[BRICS News @BRICSinfo]

JUST IN: 🇧🇷 Brazilian President Lula bans online gambling ahead of presidential election.