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Golden Penny Foods Ltd, the provider of superior quality African brands that inspire consumers every day, and the iconic brand of Flour Mills of Nigeria (FMN), is set to mark 65 years of Feeding and Enriching Lives, Every Day.

As part of this celebration, the brand is launching a Buy and Win promotion, offering 4 billion worth of prizes to its loyal consumers.

The pan-Nigeria Golden Penny Buy and Win promo campaign, which will run for 10 weeks from September 22nd, 2025, allows consumers to enter with multiple entries to win instant airtime and ultimately, cash prizes, Golden Penny products, household items, kitchen makeovers, and cars. Instant airtime can be earned by using the unique PIN on the promo packs. Weekly draws will be held every Tuesday at 12:00 p.m. for the duration of the promo.

Mr. Devlin Hainsworth, the Managing Director, Food Division, eulogized the company’s commitment to celebrate with the consumers as their loyalty for over six decades is the very foundation is business sustenance.

‘The Golden Penny Foods brand is the people’s brand, a household brand that transcends over two generations while still maintaining the production of nutritious and superior quality loved brands. Through the National Consumer Promotion, we are celebrating and rewarding our consumers for 65 years of loyalty, affinity, and patronage.’

To participate in the promo, consumers would need to purchase special promo packs of Golden Penny products (10 packs of Golden Penny Noodles, 3 packs of Golden Penny Semovita, and 3 packs of Golden Penny Pasta), which would be submitted at designated redemption centres across the country, for which they will receive a code confirming their entry.

Also emphasizing that the 65th Anniversary Buy and Win Promo is designed to appreciate and reward Golden Penny Food’s loyal consumers, and reinforce the brand’s commitment to strengthening the bond it has built with Nigerian families over six decades, Mr. Ilyas O. Kazeem, The Director for Marketing, Golden Penny Foods Ltd noted, ‘Golden Penny has been nourishing Nigerians for 65 years, and what better way to celebrate than with the people who have brought us this far,

hence the Buy and Win promo.

The Promo speaks to our commitment to truly enriching people’s lives. We are giving Nigerians 4 billion reasons to smile. Every prize is our way of saying thank you for walking with us all these years.’

Winners will emerge every week and can redeem their prizes at the redemption centres closest to them using their entry codes and a valid identification card. More information about the promo can be found on the brand’s website (https://www.fmnfoods.com/) as well as their social media pages.

About Golden Penny Foods

Golden Penny Foods Ltd is a leading food company and a provider of superior quality African brands that inspire consumers every day. As an iconic brand of FMN, a diversified Pan-African food and agro-allied company that feeds and enriches the lives of its consumers every day, Golden Penny Foods Ltd is committed to providing its consumers with superior quality African Brands designed to satisfy their nutritional needs.

The company is consistently providing affordable nutrition to its consumers – a commitment that earned it the iconic name ‘Golden Penny’, which was the smallest unit of Nigeria’s currency, an indication that anybody could afford the Company’s products while quality is still guaranteed. Through market leadership in process and product innovation, it is imperative for FMN, through the Golden Penny Foods Company, to offer consumers healthy, quality, and tasty nutrition that complements local delicacies.

Through the Golden Penny Foods brand, various stakeholders can access their daily nutrition of choice through the Company’s portfolio of loved brands. From this home of good food emanate excellent nutritional products like diverse flour brands, ball foods (Semovita), pasta, noodles, sweeteners, edible oil, and fats, Choco Spreads, breakfast cereal, and other endearing foods. With over 17 modern and best-in-class manufacturing facilities across 12 states, and production capabilities across grain milling, edible oil, sugar refining, agro-inputs, and animal nutrition and proteins.

The Society for Corporate Governance Nigeria (SCGN) has announced Pro Bono Initiative designed to offer free board advisory services to one SME and one non-profit organisation (NPO) in Nigeria.

The SCGN unveiled the initiative at an event in Lagos marking its 20th anniversary/gala night, where it also honoured and recognised some institutions and individuals for exemplary leadership.

The event was also an evening of elegance, reflection, and recognition, honouring two decades of SCGN’s commitment to promoting ethical leadership and governance excellence in Nigeria.

The gala night attracted leaders from different walks of life, fellows, and members of the society, who lauded SCGN’s impact and the milestones that have shaped its evolution over the years.

Fabian Ajogwu, founding president of SCGN, reflected on the Society’s journey: ‘Our Fellows are walking classrooms of what it means to be ethical, responsible leaders. As we celebrate 20 years, we do so with pride in the progress we have made and with determination for the road ahead. Our celebrations today inspire us to work even harder towards our purpose continuing to set the stage for the future.’

Also speaking, Muhammad K. Ahmad, president of SCGN, commended the society’s growing impact within the private sector,

‘In terms of compliance within the private sector, I believe we are doing very well. The progress we have made underscores the relevance of our mission and the continued importance of strong governance in building sustainable institutions,’ he said.

SCGN is a not-for-profit organisation dedicated to promoting good corporate governance practices in Nigeria.

Through advocacy, training, and thought leadership, the society works with regulators, boards, and industry leaders to embed integrity, accountability, and sustainability as the foundation of successful businesses and institutions.

I remember standing before my grandmother as a child, watching her grind pepper on a stone slab under the morning sun.

Each time the dust rose, she would pause, cough softly, and say, ‘?`fun mi n gbóná, ?ùgb?´n kò sí ohun tí a lè s?`r?` láì lo ?`fun.’ (My throat burns, but no one can speak without a throat.)

Back then, I didn’t understand. But today, after years of studying the fragile relationship between man and his environment, I finally do.

‘?nu lò n s?`r?`, ?ùgb?´n ?`fun ni n gbé ?nu soke.’ (The mouth speaks, but it is the throat that lifts the voice).

That saying was not just about the human body; it was about existence itself.

Distinguished ladies and gentlemen, elders, colleagues, and friends, Today, I speak on Ona Òfún – The Throat.

Ònà Òfún – The Throat: is life’s narrow path. It is where breath, voice, and nourishment meet.

It is the passage that feeds the body, yet it can also choke it. And so, I ask: What is Nigeria swallowing through her throat today?

What enters our national system, our economy, our policies, our values, through that fragile passage of survival?

The throat of a nation is its economy.

When it is healthy, ideas flow freely, innovation breathes, and citizens thrive.

But when it is blocked by corruption, poor governance, or environmental neglect, the entire body of the nation struggles for air.

We are that nation today, breathing unevenly. Our rivers, once sources of life, now carry plastic and oil.

Our forests, once homes of abundance, now echo with silence. We have turned the generosity of nature into an unending hunger for profit.

The Yoruba will say, ‘Àìm?ye ohun tí ?`fun j? ni n di ?`fun mu.’ (It is what the throat swallows without caution that causes choking.)

We have swallowed oil wealth without discipline, debt without wisdom, and pollution without guilt.

Now the Earth, like a weary mother, whispers to us: Enough.

But there is still hope.

The throat is also the path of renewal, if we choose carefully what we feed it.

If we feed our nation with justice, sound environmental policy, and fair economic growth, the same throat that once choked us can heal us.

Environmental economics is not just about numbers; it is about nourishment, feeding people without starving the planet.

Every tree saved is a debt avoided. Every clean river is a hospital bill prevented. Every solar panel is a promise kept to the next generation.

My people, Ònà Òfún teaches us balance. Too little, and we starve. Too much, and we suffocate. Wisdom lies not in swallowing everything, but in knowing when to stop.

So today, as I stand before you, no longer a student, but a custodian of knowledge, I dedicate my journey to healing the Earth’s throat.

Let us feed her gently, speak through her truthfully, and listen before her silence becomes permanent.

Because when the throat of the Earth closes, every human voice becomes a whisper.

Abia State Government is poised to revolutionise the public transport system with the scheduled launch of an electric vehicle (EV) public transport system, a move that will position the State at the forefront of sustainable transportation in Nigeria, Ukoha Njoku Ukoha, chief press secretary to Governor Alex Otti, has said.

He noted that the Abia Green Shuttle Service is part of Governor Otti’s broader and futuristic vision for a modern and sustainable public transportation system, which aligns with global best practices, climate change and environmental sustainability goals.

According to Ukoha, the State under Governor Otti has embraced the future over and above premium motor spirit (PMS), diesel and compressed natural gas (CNG).

He said that the State plans to acquire 100 fleets of Electric buses to operate in the 3 major cities of Aba, Umuahia and Ohafia, with terminals at different stages of construction.

He explained that the first batch of 20 electric buses acquired by the State, with 10 charging infrastructure equipped with persons with disability solutions, will be operational before the end of the year, while a second batch of the same quantity is expected to be delivered by early next year, with an additional 10 charging infrastructure.

‘In Aba and Umuahia, modern bus stops are at the completion stages to provide comfortable and efficient transportation services to the public and routes are currently being finalised.

‘The State’s sustainable transport system project will reduce dependence on grid electricity by utilising solar power and battery storage, enhancing road safety and reducing accidents by having designated bus stops, including creating employment opportunities and stimulating economic growth of the State.

‘Governor Otti’s plan for a sustainable transport system is comprehensive and promising. The green shuttle public transport service initiative demonstrates a commitment to modernising transportation, promoting sustainability, and improving citizens’ quality of life’, Ukoha stated.

Presidency has dismissed reports which indicated that Wale Edun, the Coordinating Minister of the Economy and Minister of Finance, is seriously ill, adding that President Bola Tinubu is shopping for his replacement.

Some online news reports had indicated that the Minister was bedridden and therefore unable to continue in office, making it necessary for the President to commence a search for his replacement.

Edun, a seasoned economist, banker, and former Lagos State Commissioner for Finance, has been widely credited with steering Nigeria’s fragile economy through some of its most challenging moments since Tinubu assumed office,, in May, 2023.

The online reports had claimed that Edun who had been instrumental to shaping the nation’s economic and financial plans, was ‘ seriously ill, adding that the President is looking for his replacement

The report was further fueled by a Presidency statement which stated that the Minister who usually leads the Federal government delegation to the annual World Bank and International Monetary Fund Meeting in Washington DC, which opens on Monday, October 13, has been replaced by Oluyemi Cardoso, Governor of the Central Bank of Nigeria.

But Onanuga, while reacting to the Social media reports in a telephone chat with BusinessDay, stated that although the ‘Minister was indisposed, he is currently recovering’

‘ Contrary to the reports by the Social Media, the Minister is not incapacitated and like I said before, he is currently recovering’

Onanuga, in a statement on Sunday, said Cardoso, as the alternate Governor, replaces the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who is indisposed.

The Nigerian team will also comprise the Minister of State for Finance, Doris Uzoka-Anete.

According to the World Bank, key elements of the Annual Meetings include the Development Committee Plenary session on October 16 and the International Monetary and Financial Committee meetings on October 17.

‘Other featured events include regional briefings, press conferences, and fora focused on international development, the global economy, and financial markets’ the statement said.

As part of measures to address the growing threat of flood-related disasters across Nigeria, the Federal Government says it is considering empowering flood-prone communities to manage their own safety.

The Vice President, Kashim Shettima, who stated this at the 2025 International Day for Disaster Risk Reduction (IDDRR) in Abuja, said no amount of preparedness would produce tangible results if communities were not empowered to take charge of their safety.

Shettima, who said while resilience cannot be guaranteed by government alone, it is reflected in how cities are planned, how businesses protect their workers, and how communities share information and look out for each other.

He called for strong partnership with the private sector, saying the sector ‘must see itself as a partner in prevention, embedding risk reduction into corporate planning and investment decisions.

‘We count on them to shape the knowledge that guides our decisions. And we expect our civil society to hold us accountable, to raise awareness, and to mobilise citizens around the shared responsibility of preparedness.

‘But none of these efforts will yield results unless we empower and support our communities to take ownership of their safety. They are the foundation of whatever strategy we adopt and the heartbeat of our national resilience.’

The Vice President applauded the theme of the 2025 International Day for IDDRR, ‘Fund Resilience, Not Disasters,’ saying it speaks to an often overlooked truth that ‘it is far wiser, far cheaper, and far more humane to prepare for disasters before they strike than to rebuild after they destroy.

‘Every naira we spend today on preparedness saves many more tomorrow on response and recovery. Every investment in resilience is, in truth, an investment in the lives and futures of our people,’ he added.

He however, pointed out that commitment alone is not enough. ‘We must match our words with action and our policies with funding,’ he stated.

To fund resilience, the VP identified certain priority areas to invest in, including ‘drainage systems, not relief camps; to build stronger schools and hospitals, not temporary shelters; to support farmers with climate-smart tools, not just food aid after floods; and to train and equip our first responders before the sirens start to wail.’

According to him, this is the shift required to move ‘from reacting to crises to anticipating and preventing them.’

Shettima explained that following President Tinubu’s emphasis on the ‘need to treat resilience as a national policy,’ the government is ‘integrating disaster risk reduction into every sector-from agriculture and infrastructure to education and health-while expanding early warning systems to ensure that communities receive timely alerts before floods, droughts, or disease outbreaks occur.

‘We are strengthening state and local emergency management agencies through training, technology, and coordination support. We are developing a National Disaster Risk Financing Framework to guarantee that funding for prevention and preparedness is available when and where it is needed.

‘And we are deepening partnerships with development partners, the private sector, and research institutions to drive innovation and resilience building at all levels.’

Imo State Government has graduated 10,000 youths on digital Skill-Up Programme, having successfully completed the digital training under the Imo State Cohort 3 of Skill-Up Project.

In the recent past 40,000 youths, comprising young men and young women, were trained in the Imo State Cohorts 1 and 2 in various fields like the software engineering, AI, cyber security, digital marketing, among others as many of them are said to be either gainfully employed in the digital technology outside Imo State or self-employed.

Speaking on entrepreneurship drive in the State, Governor Hope Uzodinma said that his Administration is laying durable, practical and forward- looking foundation in Imo State with the Skill-Up Imo Programme.

Governror Uzodinma, during the graduation ceremony, unveiled a digital device known as MyImoApp, which would enable citizens to engage with Government, seamlessly for services like land record verification, documentation, tax payments, emergency reporting and business promotion from anywhere around the world.

Speaking to the 10,000 graduates, Governor Uzodinma congratulated them and expressed happiness over his administration’s earlier resolve to focus on digital skill acquisition, youth empowerment as well as placing Imo State at the forefront of the 21st Century digital economy.

‘We are not casually training people; we are laying practical, durable, and forward-facing foundations. We are building our the Imo Digital City, which will host Nigeria’s first state-level Artificial Intelligence Institute, a Robotics and Business Process Outsourcing (BPO) hub, Innovation Labs, Digital Learning Centres, and a Digital Entrepreneurship Centre which is designed to serve real needs and unlock real value’, Governor Uzodinma said.

To the new graduates, he said, ‘What you need, and what we are building are platforms, the tools, and the policies to ensure your skills find full expression. Your success is not a side benefit of our digital policy, it is the point of it.

‘I urge you to use what you have learnt, not only to create work for yourselves, but to become creators of work for others. Be solution-minded. Build with purpose. Think of your local government area, your community, and your State and ask; how can technology make things better?’

He, however, commended the programme partners, including the Federal Ministry of Communications, Innovation and Digital Economy, NITDA, Microsoft, Zinox Computers, Cisco, UNDP, US-MAC, and the University of California, Berkeley, for believing in what Imo is building up and for helping to deliver the programmes.

The Lagos State Government has announced that construction work on the $3 billion Green Line Rail project, which will connect Marina to the Lekki corridor, will officially begin in December 2025.

This was confirmed by the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, in a statement shared on the official X account of the Lagos State Government on Monday.

According to Osiyemi, the project is one of the most ambitious transport initiatives in the state’s history and will be implemented in phases over a period of two to three years. The first phase will run from the Lekki First Tollgate to Epe, while the second phase will extend from Marina, including a section that will run partly on water.

He explained that the government had completed extensive feasibility studies and held several meetings with residents, traditional rulers, and business owners along the Lekki-Epe corridor to minimize disruption once construction begins.

‘The government has carried out wide stakeholder engagements and feasibility studies along the Lekki-Epe Expressway corridor because the Green Line project will commence in December,’ Osiyemi said. ‘It will take about two to three years and will come in phases, beginning from Marina to Epe. The first phase runs from the Lekki First Tollgate to Epe, and the second phase, starting from Marina, will be on the water.’

The announcement comes as the state government intensifies enforcement activities along the Lekki-Epe Expressway to clear encroachments and restore wetlands that form part of the project’s right-of-way. Authorities have also begun relocating roadside traders, removing illegal structures, and improving drainage channels in preparation for the rail line.

The Green Line is designed to ease traffic congestion on the ever-busy Lekki-Epe corridor, one of the fastest-growing urban areas in Lagos. The area has witnessed massive expansion due to new residential estates, shopping malls, and major investments such as the Lekki Free Trade Zone, Dangote Refinery, and the Lekki Deep Sea Port.

The 70-kilometre Green Line will run from Marina on Lagos Island to the Lekki Free Trade Zone, featuring 17 stations spread across a combination of elevated and ground-level tracks. The route will pass through Victoria Island, Lekki, Ajah, Sangotedo, and Epe, linking major residential and commercial areas.

Each station will feature modern designs with pedestrian bridges, elevators, escalators, and ticketing systems similar to those on the Blue Line and Red Line rail projects. A major depot will be built near Sangotedo to house and maintain trains, while a 15-hectare parking area is planned near the Lekki Free Zone to support park-and-ride commuters.

Trains on the Green Line are expected to run in eight-car B-type sets, reaching speeds of up to 100 kilometres per hour, with a minimum waiting time of three minutes between trains. The line is projected to carry up to 35,000 passengers per hour in each direction, significantly cutting travel time between Marina and Epe to under one hour.

The Green Line project is estimated to cost about $3 billion (roughly ?4.5 trillion at current exchange rates). According to reports, the Federal Government has committed ?146.14 billion as part of its counterpart funding in the 2025 budget.

A tripartite agreement has also been signed with the China Harbour Engineering Company (CHEC) to design, finance, construct, and operate the line under a public-private partnership model.

On April 9, 2025, the Lagos Metropolitan Area Transport Authority (LAMATA) released a detailed video presentation outlining the project’s design, alignments, and financing structure. The presentation confirmed that construction will be handled by CHEC, while LAMATA will oversee operations once the project is completed.

Transport experts and urban planners have welcomed the project but raised concerns about some aspects of the design, especially the spacing between stations. Some analysts believe that the long gaps between stops in areas like Victoria Island and Lekki Phase 1 could limit access for commuters and reduce ridership.

They also questioned whether the eight-car train configuration would be enough to meet long-term passenger demand given the rapid population growth in the Lekki axis. Experts have recommended adding more stations in densely populated areas and integrating the Green Line with other existing or planned rail lines to ensure smooth connections.

For many residents of the Lekki-Epe corridor, the Green Line project offers hope for a long-awaited solution to daily traffic gridlock. Commuters currently spend up to four hours traveling between Lekki and Lagos Island during peak hours.

However, there are also concerns about potential disruptions during the construction phase, particularly regarding road diversions, noise, and property displacement. The state government has promised to provide timely information, compensate affected residents, and minimize the impact on daily life.

The Commissioner assured Lagosians that the government’s priority is to provide a reliable, efficient, and affordable transportation system that meets the needs of a growing city.

‘The Green Line project is not just about transportation,’ Osiyemi said. ‘It’s about improving the quality of life, attracting investments, and creating jobs. It will open up new economic opportunities across the Lekki-Epe corridor and beyond.’

The Green Line is part of the broader Lagos Rail Mass Transit (LRMT) network, which includes the already operational Blue Line and the ongoing Red Line project. The long-term plan envisions six major rail lines across Lagos, forming the backbone of an integrated public transportation system that combines trains, BRT buses, and ferries.

Nigeria’s solid minerals sector has posted one of its strongest performances in recent years, contributing 1.8% to the nation’s GDP and recording a remarkable 4.61% growth in the second quarter of 2025, according to figures from the National Bureau of Statistics (NBS).

Dele Alake, minister of Solid Minerals Development, disclosed the figures at a media briefing ahead of the 10th Nigeria Mining Week in Abuja, attributing the surge to the Federal Government’s sustained reforms and tightening of regulatory frameworks in the mining industry.

‘Ten years ago, mining contributed less than 0.5% to GDP. Today, it stands at 1.8%, and the latest NBS data showing 4.61% growth in Q2 2025 clearly demonstrates that our reforms are working,’ Alake said.

He explained that the impressive figures translate into more mines in operation, increased investor participation, and greater economic impact on mining host communities.

The minister emphasised that the reforms – focused on transparency, investment protection, and enforcement of compliance – have repositioned the sector as a viable pillar for economic diversification.

Alake reaffirmed that the government would not reverse course despite resistance from entrenched interests, noting that the revocation of dormant and defaulting mining licenses will continue.

‘We are enforcing the ‘Use It or Lose It’ clause to ensure only serious investors operate in the sector,’ he said.

To consolidate gains, the minister announced plans to establish a Minerals Pre-Shipment Agency to enhance export monitoring and revenue assurance.

He also revealed ongoing efforts to deploy satellite surveillance systems across mining sites and double the number of Mining Marshals to curb illegal mining and strengthen on-ground regulation.

Alake reiterated the administration’s determination to make solid minerals a key growth driver in Nigeria’s economic transformation.

‘No amount of threat or blackmail will derail our mission. Mining will take its rightful place as a leading contributor to GDP,’ he stated.

Industry players, including Dele Ayanleke, president of the Miners Association of Nigeria, commended the Ministry’s progress and called for sustained implementation of reforms to deepen investor confidence.

The 10th Nigeria Mining Week, themed ‘Nigerian Mining: From Progress to Global Relevance,’ will be held from October 13-15, 2025, at the Abuja Continental Hotel, organised by the Ministry of Solid Minerals Development, in collaboration with PwC, Vuka Group, and the Miners Association of Nigeria.

Economists say the 4.61% sectoral growth reflects the solid minerals industry’s potential to become a major contributor to national revenue and job creation – a sign that Nigeria’s diversification agenda is gaining real traction.

Less than a decade removed from the Supreme Court of the United States overturning the Professional and Amateur Sports Protection Act, the USA may be speeding toward a sports betting crisis. And it is not clear how it can be stopped.

A variety of factors are at the heart of it all, including a rise in problem gambling. But two issues, in particular, have left many to pursue redirecting their betting funds to international sites like MyBookie: a crackdown on alternative forms of wagering in markets that have not yet legalized it, and the growing or imminent cost of fees when using domestic sportsbooks.

Prediction Markets are Challenging Sports Betting Models

Sports betting licenses in the United States can be expensive and hard to get. They are also entirely predicted on market terms. A handful of states have yet to legalize online sports betting. Others, such as Florida, only allow a limited number of tribal operators to offer wagering services.

Newer workarounds have started to crop us as a result. Most recently, prediction markets are spreading like wild fire. These transactions, offered by companies like Kalshi, are packaged as ‘event-based contracts.’ Customers are ‘investing’ rather than ‘betting’ in a certain outcome taking place.

As such, prediction-market providers believe their transactions are trades rather than wagers. By extension, they say that they are subject to federal oversight rather than state regulation. And this, in turn, is their justification for operating in legalized sports betting markets without licenses, as well as in markets that haven’t even green lit sports gambling.

Peer-to-Peer Pick ‘Em Games are Disrupting the Landscape, Too

Peer-to-peer Pick ‘Em Games are following a similar blueprint. Sam McQuillan of Legal Sports breaks down how these transactions work below:

Sam McQuillan breaks it all down for Legal Sports Report:

‘The product should look familiar to sports bettors. Users select between three and six athletes and predict whether each will go ‘more’ or ‘less’ than a projected stat line such as rushing yards or touchdowns, according to the company’s website. Winners split pooled entry fees, with potential payouts up to 1,000x the stake, a format modeled after Same Game Parlays, which have become a central profit engine for sportsbooks. The pick’em product comes after PrizePicks and Underdog shifted from player-vs.-house models to peer-to-peer contests in several states, following action by more than a dozen regulators who identified their games as unlicensed sports betting. That change largely satisfied regulatory concerns and helped both DFS operators expand into additional states.’

This workaround has left many sports betting operators, including tribal nations, as well as regulators irate. They see it as circumvention of United States sports gambling laws. And we are starting to see legal action taken as a result.

The Future of Sports Betting in the United States is Suddenly Murky

State regulators and policymakers are attempting to fight back against prediction markets and pick ’em operators, just as they did against daily fantasy sports sites. Unlike the latter case, though, they may not be successful this time around.

Certain courts have already started siding with companies like Kalshi that offer those event-based contracts. Nevada and New Jersey are allowing prediction markets to remain in place while the larger litigation unfolds.

Meanwhile, other states are sending cease-and-desist letters to those providing peer-to-peer competitions. The last time this happened, with daily fantasy sports, the companies obliged. Now, however, it does not seem like they’ll vacate markets without a fight.

In fact, we have actually seen big-time sportsbooks branch out into peer-to-peer competitions in hopes of entering new markets. FanDuel just launched ‘FanDuel Picks’ in 17 markets without legal sports betting. This is a monumental action that, quite frankly, isn’t being discussed enough.

Previously, FanDuel would not have made a move like this out of fear of ruining the push to legalize sports betting in these markets. That they are now providing sports betting alternatives in those same markets suggests any number of things. Perhaps they don’t believe it will damage the chances of legalizing sports betting in the future. It could also be an act of desperation-a recognition that, much like the streaming-service boom years ago, their business model cannot enjoy infinite growth.

Betting on Sports in the United States Could Get More Expensive.for Gamblers

If industry heavyweights like FanDuel are running up against a profit-margin ceiling in their traditional sports betting offerings, it will change the makeup of the industry forever.

To be sure, we are not saying this is what’s happening beyond a shadow of a doubt. But given the broadening of services by FanDuel, DraftKings and others, it feels like a possibility.

And if this is the case, we may see sports betting operators follow the lead of the streaming providers we referenced earlier. In the face of capped growth, they might raise or implement fees. Just as a NetFlix subscription price has basically more than doubled since the company’s early days, we could see sportsbooks start to assess fees on every transaction. We are not just talking about withdrawals, either. Those fees are often standard. No, we are talking about operators assessing a surcharge to every bet placed, and maybe even every deposit made.

This is already happening on some level. In markets that have raised taxes on operators, sportsbooks have started adding fees to every single bet. As of now, these surcharges aren’t climbing above $0.50, but rest assured, they will eventually increase again.

On top of that, we are starting to see sportsbooks raise the minimum amount of money users must deposit or even bet on a single wager. This, again, has been in response to elevated taxes and the increased overhead they cause. But the trend could continue at a faster rate if courts hold up the legality of prediction markets and peer-to-peer competitions, since those could cut into sportsbook profit margins even further.

One way or another, it seems as if one of the United States’ newest and most lucrative forms of revenue generation is headed for a major disruption.