Gambling Layoffs Increase as Prediction Markets and AI Reshape Sports Betting
Major gambling firms are cutting jobs as they shift toward AI automation and face stiff competition from emerging prediction markets.Summary
The sports betting industry is undergoing a significant contraction, highlighted by major layoffs at Gambling.com Group and Penn Entertainment. These companies are aggressively pivoting toward AI-driven operations to reduce costs—with Gambling.com reporting that 80% of its new code is now AI-generated—amidst falling revenues and market challenges. Simultaneously, traditional sportsbooks are losing market share to regulated prediction markets like Polymarket and Kalshi, which are attracting users by offering event-based contracts that compete directly with traditional betting formats. As firms consolidate and lean into automation, the industry faces mounting pressure from both technological disruption and regulatory efforts to define the scope of these new prediction platforms.
(Source：BeInCrypto)