💰$98K Parlay Win

Today’s edition is brought to you by Dabble. Dabble is an exciting new fantasy sports platform now available in 20 states around the country including California, Texas, and Florida.

It offers Pick ‘Em style games on many of the most popular sports leagues in the United States including the NFL, NBA, MLB, NHL, and more.

Welcome back to the Bandit Betting Newsletter, where we deliver the top stories in sports and gambling directly to your inbox, every Sunday.

In today's email:

• Sports-Betting: stocks drop as Illinois Senate passes budget raising tax scale.

• Bettor hits big: turns $50 three-leg parlay into 'life-changing' money with Mavericks win.

• Police raid: Kettering internet cafe and a home; one arrested in gambling case.

Let's gamble...

STOCKS DROP

DraftKings and FanDuel Parent Flutter Entertainment Fall.

Shares of sports-betting companies like DraftKings and FanDuel parent company Flutter Entertainment are falling.

Markets are reacting to a state budget passed by the Illinois Senate Sunday night, which included a new progressive tax rate up to 40% on sports-betting companies.

DraftKings, FanDuel, and other sports-betting companies have said higher tax rates will lead to worse odds and fewer promotions for customers.

MIRACLE PARLAY

"Zero dollars hedged. I would’ve maybe hedged in Game 7"

Back on Dec. 29, the UCLA graduate student made a trek to Las Vegas. While waiting for a buddy to meet him for lunch at Paris Las Vegas, he played a little roulette and won $200.

From that, he took $50 to a betting kiosk at the sportsbook and made his parlay wager:

• Kansas City Chiefs to beat the San Francisco 49ers in the Super Bowl, at +1800

• Michigan to beat Washington in the College Football Playoff national championship game, at +550

• Dallas Mavericks to win the Western Conference, at +1500

What will he do with his winnings?

Two years ago, the student and sports fan moved from Costa Rica to Los Angeles to attend UCLA and study for his Masters in Business Administration.

On June 14, he’ll graduate with his MBA.

"It is life-changing. The MBA [program] has been the best two years of my life, and I’m about to start working," he said.

"But hell, this $100,000 will help cover some of the money I spent these last two years."

ILLEGAL GAMBLING OPERATION

The second local gambling-related raid on an internet cafe in the past few months.

A Kettering business where police say illegal gambling was occurring and a West Carrollton home were the focus of police raids Thursday morning, resulting in an arrest, according to the head of a local law enforcement unit.

During the search, more than $200,000 and numerous gaming machines were seized, said officer Cynthia James, Kettering police spokeswoman.

The West Carrollton residence was linked to the gambling crimes at the Kettering business, he said.

In a separate raid in March, Dayton police and the Ohio Casino Control Commission seized about 100 machines at a Dayton internet cafe during an illegal gambling investigation.

“QUICK PICK” STORIES FOR THE ROAD

• Opinion: gambling scandals will only get worse.

• Arrests in Simi Valley - gambling and prostitution ring.

• Sheriff’s Office: Drugs and gambling raid at Hastings convenience store.