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“It’s not a dark alley,” he continues. “It’s a large operator that’s regulated in other places, so it’s not the risk for the player that sometimes is implied.”
With the central challenge of tax to compete with, operators face a test of whether they can maintain growth while remaining competitive in an increasingly fierce market.
Escobar expects the competitive landscape to evolve as the market settles, with operators facing a different set of priorities from those that defined Peru’s initial regulatory rollout.
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This process of dumping nearly $1 trillion into the U.S. banking system has already begun. How is it going to work? There is currently a $1.5 trillion short term bill hamster wheel that the U.S. Treasury has been running on like a crazed mouse since April. They issue about $1.5 trillion in short term paper every month and pay it back with about the same in new short term issuance. They have about $1.6 trillion stuck in their bank account at the Federal Reserve, and that money is now coming out to pay down that hamster wheel. The issuance of new short term paper is slowing down. All this new money is going to stuff banks so full of short term cash that they will be forced to slam it into the existing supply of short term paper to such an extent that the rates are going to go negative, nominally. Nobody knows how deeply, but it’s definitely coming, probably in the next few days.
Below is the graph of 1-month rates from CNBC. They are about to cross the zero boundary.
When that happens, commodities prices are going to get completely unhinged. The cash on corporate balance sheets is going to start losing purchasing power very fast. And that will only encourage more dumping of it, and increase the positive feedback loop now already in place.
What is Neko?
Stella David, Entain’s CEO, called for the government to move ahead with the ban immediately, arguing clubs were already aware of the planned changes.
“Premier League clubs that have struck new deals with unlicensed gambling operators knew the risks,” she said. “The government made clear in February that it would bring in a ban and it should do so immediately: even if that means clubs ordering new kit mid-season.
“Inconvenience is not an excuse for inaction.”
