DraftKings CEO: Illinois' new tax on sports bets will drive players to illegal betting sites
Jason Robins, DraftKings CEO, joins CNBC's 'Squawk on the Street' to discuss Illinois' new tax on mobile and online sports wagers.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
5 hours ago
- Newsweek
DraftKings Promo Code: Claim $150 New User Signup Bonus For MLB, Any Game
The DraftKings promo code for new users unlocks access to a $150 new user signup bonus for MLB games, soccer and more on Sunday. The DraftKings promo code for new users unlocks access to a $150 new user signup bonus for MLB games, soccer and more on Sunday. Sign up with the updated DraftKings promo code offer to get $150 in bonus bets guaranteed when you place an opening $5 wager on any MLB game or a Club World Cup game taking place on Sunday. Click here to start the sign-up process and secure this welcome offer. This new user offer from DraftKings Sportsbook is easy to use, and Sunday's sports slate provides you with a good opportunity to start your account fast. With MLB action including Cubs-Astros and Round of 16 games in the Club World Cup taking place, you can quickly secure the $150 in bonus bets when you wager $5 on any of those markets. DraftKings Promo Code For MLB, Club World Cup Sunday DraftKings Promo Code Sign Up Using Links Above – No Code Needed New User Offer Bet $5, Win $150 Instantly in Bonus Bets In-App Promos MLB Home Run Profit Boost, Soccer SGP Profit Boost, WNBA Big Game SGP Boost, Dynasty Rewards, etc. Terms and Conditions New Customers – 21+ in Eligible States Bonus Last Verified On June 29, 2025 Information Confirmed By Newsweek The best part of this offer from DraftKings Sportsbook is that you do not have to worry about winning your $5 bet. Once you place that opening wager, you will instantly get the $150 bonus before that first wager even settles. As an example, if you bet $5 on Cubs star Kyle Tucker to hit a home run against the Astros in his old home ballpark, you will unlock the $150 in bonus bets to use on any other market. If you prefer to bet $5 on a Club World Cup game, that will qualify, too. Once you secure the bonus bets, you will have seven days to use them before they expire from your account. Sign Up With DraftKings Promo Code For $150 Bonus Guaranteed Start the sign-up process by clicking here to go to the registration page. There, you will need to provide your basic personal information to secure your account. This will include your name, address, email, date of birth, etc. There is no need to enter a code, as you will automatically be given the new user promo by clicking our link. Next, make a deposit with a secure payment method, like a credit card, to cover your initial $5 bet. All you need to do from there is place your opening wager to secure the $150 in bonus bets that will be valid for seven days. DraftKings In-App Offers When you are set up with your new DraftKings Sportsbook account, you will be able to claim multiple in-app promos in addition to the welcome offer. These promos are available for MLB games and more. For MLB games, claim profit boosts or the no-sweat home run offer to use for Sunday's games. You can also opt into the King of the Diamond promo to get a chance at bonus bets. Sign up today to take advantage of these offers and check in at the beginning of each day to see what offers are available for the events taking place. Newsweek may earn an affiliate commission if you sign up through the links in this article. See the sportsbook operator's terms and conditions for important details. Sports betting operators have no influence over newsroom coverage.
CNBC
8 hours ago
- CNBC
Nvidia shares retake AI leadership role. Wall Street is bullish going forward
Wall Street investors believe that Nvidia 's next rally to even higher highs is only a matter of time. The chipmaker ended last week by hitting fresh all-time highs three days in a row. But this bullish showing stands in contrast to the doubt that has hovered around the stock for much of the year. NVDA YTD mountain NVDA YTD chart Nvidia — alongside the other major semiconductor names — had a rough start to 2025, as fears around China export controls weighed heavily on sentiment. For most of the past year, shares have traded within a flat range without any kind of solid move higher. "The sentiment had definitely turned on AI semis in general, and Nvidia is kind of that poster boy child as far as the AI semi trade is concerned," said CFRA analyst Angelo Zino in an interview with CNBC. "Sometimes with these big megacap tech stocks and names that have had incredible runs, you do have to digest those gains." Another reason for Nvidia's recent lag may be that the stock has been a victim of its own success, said Gene Munster, co-founder of Deepwater Asset Management. He added that investors have been concerned that Nvidia's "remarkable growth story" over the past few years wasn't sustainable in the long term. "Despite all the good things that are going on with AI, it's still hard for Nvidia investors to sleep well at night," he told CNBC. But Nvidia's performance took a turn last week. On Wednesday, investors sent the stock up 4% to a new all-time closing record. Friday's session saw a gain of nearly 2% — marking the stock's fifth consecutive positive session. Nvidia's chart pattern also lends credence to claims that the stock could continue to rally from here. Nvidia recently formed what's known as a golden cross — when its 50-day moving average crosses above its 200-day moving average — implying that a long-term bull market may be emerging. Jordan Klein, an analyst at Mizuho, attributed Nvidia's rally last week to investors closing the gap between the stock and its competitors. Going forward, he expects another substantial spike when Nvidia releases its next earnings report, around the end of August. Increasing demand trends and the rollout of Nvidia's new Blackwell chip both point to higher revisions from the company. "In late August they'll guide their October revenue, which I think could be notably higher than expected," Klein told CNBC. "It's driven by Blackwell volumes ramping and those really start to scale up in July, and then more in August, probably into September." Zino added that while a lot of the hype around Blackwell's launch is already likely priced into the stock, there's still more room for shares to go higher. "You're at a point in time for Nvidia where now they're going to scale up Blackwell, and now they're going to get some of that margin expansion and some of those benefits here over the next couple of quarters," he said. "And I think that's a big reason why the stock is working as well." Like Klein and Zino, Munster is also bullish on Nvidia's forward trajectory. He said Nvidia's valuation still looks compelling, even at these new all-time highs. "It's probably the most attractive large-cap tech company on a price-to-growth basis," he said. While some investors have pointed to hyperscalers building their own custom chips as a potential headwind for Nvidia, Munster said this is an unlikely theme due to the cost of building chips in house. Munster said he remains confident about Nvidia's outlook since he believes the industry is still early in its buildout of AI. As evidence, he pointed to the multimillion dollar bonuses Meta has offered to poach OpenAI employees as the Facebook owner tries to supercharge its development efforts.
CNBC
8 hours ago
- CNBC
Why oil prices swung so wildly during the Iran-Israel conflict and where the market goes from here
The oil market is assuming a bearish tilt after the Iran-Israel conflict ended in a ceasefire this week, with President Donald Trump hinting he could loosen sanctions against the Islamic Republic's crude exports. The 12-day conflict drove oil prices sharply higher and then lower as traders gauged the odds of a major supply disruption. U.S. crude oil prices surged more than 15% from the start of Israel's air campaign against Iran on June 13, only to peak at a five-month high on the evening of Sunday June 22 after the U.S. bombed the Islamic Republic's three key nuclear sites. Global benchmark Brent hit $81.40 per barrel at its high during the conflict. West Texas Intermediate topped out at $78.40. But the market sold off sharply as soon as it became clear that Iran had calibrated its retaliation to avoid further escalation and would not target regional oil supplies. WTI plummeted $14.40 per barrel, or 18%, from Monday's high, stirred by the U.S. bombing, to Tuesday's low on the ceasefire. "In some ways, the market has gotten more bearish since before all this started," Vikas Dwivedi, global energy strategist at Macquarie Group, told CNBC. "Because now, maybe Iran will get to sell to China unfettered by worries of what the U.S. could do." Before the Iran-Israel conflict erupted, oil prices had already hit the lowest level since 2021 , hurt by thoughts that Trump's tariffs would slow global demand, and OPEC+ increaseing output faster than expected. The market is now returning to those soft fundamentals, Morgan Stanley analyst Martijn Rats told clients Thursday. Oil prices will probably trade in a $5 range for the next few weeks as the market monitors what the next steps are between Iran and Israel, Dwivedi said. If investors gain confidence that the geopolitical situation has settled, the market will start trending down, with Brent heading to the low $60s on its way to the high $50s this year, the Macquarie analyst said. Bearish for market Trump suggested Tuesday that he would ease U.S. pressure on Iran, telling China in a social media post that it could keep buying oil from the Islamic Republic. Beijing purchases the majority of the 1.7 million barrels per day that Iran exports, according to data from Kpler. "This and the rapid push for a ceasefire suggests that President Trump remains sensitive to high oil prices, in our view, potentially capping the geopolitical risk premium even as the conflict may linger," Francesco Martoccia, an analyst at Citigroup, told clients in a note Thursday. Citi forecasts Brent could fall as low as $66 per barrel in the third quarter before sinking further to $63 per barrel in the fourth quarter. A senior White House official later told CNBC that the Iran oil sanctions remain in place. But Trump suggested again Wednesday at the NATO summit in The Hague that he would not disrupt flows of Iranian crude oil, an apparent olive branch to help the Islamic Republic rebuild after Israel's bombing campaign. "I could stop it if I wanted," Trump said of Iranian oil to China. "I don't want to do that. They're going to need money to put that country back into shape. We want to see that happen." The president confirmed Friday in a social media post that he had considered sanctions relief for Iran. But Trump said he is leaving the sanctions in place for now after Ayatollah Ali Khamenei delivered a defiant speech that angered him. "Instead I get hit with a statement of anger, hatred, and disgust, and immediately dropped all work on sanction relief, and more," Trump said on Truth Social. "Iran has to get back into the World Order flow, or things will only get worse for them." Ceasefire holding U.S. easing of oil sanctions on Iran will depend on whether the ceasefire with Israel holds. The truce has stood so far, a sign that the situation may have stabilized enough for the U.S. and Iran to resume negotiations over the Islamic Republic's nuclear program, said Janiv Shah, vice president of oil market analysis at Rystad Energy. Trump said Wednesday that the U.S. will talk to Iran next week. But White House Press Secretary Karoline Leavitt told reporters Thursday that no talks are scheduled for now. Iran's foreign minister has said the Islamic Republic has no plans to meet with the U.S. The consulting firm Rapidan Energy sees a 60% chance that the ceasefire holds but no formal agreement is reached between the U.S. and Iran over the Islamic Republic's nuclear program. The market would hold on to a risk premium of between $2 to $3 per barrel under this scenario. Rapidan sees 30% odds that the truce results in a real deal, which would have a bearish effect over the medium term as the market priced in higher Iranian crude production. The firm only sees a 10% chance that conflict between Iran and Israel erupts again, which would push oil prices higher by $4 to $5 per barrel so long as there isn't a big disruption of crude supplies. Deutsche Bank also expects the ceasefire to hold. Israel has largely accomplished its goals, Iran has few options for retaliation, and the U.S. doesn't want to become more deeply involved in a conflict, analyst Michael Hsueh told clients on Tuesday. "Notwithstanding the delicate nature of the agreement, we believe that incentives are aligned for the ceasefire to hold," Hsueh said.
