Business
Sportsbook CEOs expect record betting ahead of NFL kickoff
DraftKings CEO Jason Robins has never been more enthusiastic about the kickoff to the NFL — sports betting’s biggest season.
It’s second only to the Super Bowl in terms of importance for acquiring customers and growing the overall betting pool, Robins told CNBC at the Bank of America Gaming and Lodging Conference.
“The numbers just keep going up right into kickoff, and it’ll continue through Sunday,” Robins said. “We’re seeing big numbers, record numbers, and we’re really excited about what we’re going to see through the start of the season.”
The American Gaming Association estimates legal betting in the U.S. will grow by 8.5% this NFL season, to $30 billion.
DraftKings and its competitors have largely seen declines in the costs to acquire customers even as legal sports betting opportunities continue to expand. Sports betting has proven to be resilient even amid volatility in consumer sentiment and broader concerns over discretionary spending.
“We’re seeing nothing to suggest that there’s any slowdown in the numbers for our business right now, everything is going up,” Robins said.
DraftKings beat Wall Street expectations for revenue and profit when it reported second-quarter results in August, surprising investors with significant growth.
BetMGM, jointly owned by MGM Resorts and Entain is also demonstrating real momentum, raising earnings guidance for a second time this year.

BetMGM CEO Adam Greenblatt told CNBC that last week was the sportsbook’s best ever in terms of revenue, with pre-season volume up 30%.
“We’re seeing no softness. We’re seeing no reduction in average bet size. We’re seeing no reduction in how many active sessions per week, per month, that players are engaging with BetMGM,” Greenblatt said when assessing the strength of the American consumer.
“I’m delighted to say that our sector seems to be behaving in a contrarian manner, ” he said.
Greenblatt is especially enthusiastic about the cross-selling opportunities with NFL kickoff. He says 60% of sports bettors will then wager on online casino games, or iGaming, which has higher profit margins than sports betting.
The nation’s leading sportsbooks are facing new competition — as well as potential opportunities — in the form of prediction markets events contracts, where odds change based on trades, like stock prices. Events contracts in the financial markets are regulated by the Commodities and Futures Trading Commission.
Front Office Sports reported in July that DraftKings was in talks to buy Railbird, an exchange that received CFTC approval to begin trading.
Robins declined to comment on the report, but said he’s interested, though cautious, about entering predictions markets.
“We’re regulated in a lot of states, and some states have taken a very adversarial position, so we have to obviously be careful and engage the regulator,” Robins said, adding DraftKings is unwilling to risk any threat to its sports betting licenses.
In August, Flutter-owned FanDuel announced a partnership on financial events contracts with the Chicago Mercantile Exchange. And Underdog, the fantasy and sports gaming company, announced on CNBC Tuesday that it will partner with Crypto.com to offer sports predictions markets. Robinhood, Kalshi and Polymarket are also offering sports trades.
“Rapidly growing volumes, new product launches, especially around player props and parlays, and more clear direct marketing by prediction markets (post recent fundraising) are all key developments to watch for,” said Bank of America research analyst Shaun Kelly.
Investors will also be watching to see how federal courts rule on the pending question of whether sports predictions are in fact a form of sports betting. States and tribes argue it is and that offering sports trades through predictions markets violates tribes’ sovereign rights or states’ rights to legalize sports gambling.
MGM CEO Bill Hornbuckle told the BofA Gaming and Lodging conference Thursday he doesn’t endorse the predictions markets.
“Our view is that invites the federal government into a space it’s never been, and it’s not a place we’d like to see this marketplace go. Full stop,” he said.
The NFL told its employees they are under the same restrictions with regards to sports predictions markets as they are for betting. The league has said it worries about the integrity of the game in the face of the possibility of price distortion and other kinds of manipulation.
Business
Fare relief move: Air India waives change, cancellation fees on domestic bookings after IndiGo disruption – The Times of India
Five days after widespread flight disruptions triggered by IndiGo cancellations, Tata Group-owned Air India on Saturday announced a special waiver on change and cancellation charges for eligible domestic bookings, aiming to offer relief to affected travellers, PTI reported.The airline said customers who booked tickets on Air India or its subsidiary Air India Express on or before December 4 for travel up to December 15 can make a one-time change or cancellation without paying the usual fee, provided the request is made by December 8, 2025. In case of rescheduling, any fare difference will still be applicable.
Under the waiver, passengers can either reschedule their journeys to a later date within the validity of the purchased ticket without paying rescheduling charges or cancel their bookings and receive a full refund, with no cancellation fee applied, the airline said.Air India also said it, along with Air India Express, has “proactively” capped economy-class airfares on non-stop domestic routes from December 4 to prevent price spikes driven by automated demand-supply algorithms. The carriers are also in the process of ensuring compliance with the latest directive issued by the Civil Aviation Ministry on airfare caps.
Business
Volkswagen capex recalibration: Automaker pares 2030 investment to $186 bn; China, US headwinds grow – The Times of India
Volkswagen Group plans to invest €160 billion ($186 billion) through 2030, a scaled-down outlay that reflects tightening capital allocation as Europe’s largest automaker grapples with mounting pressure in its two biggest markets — China and the United States, Reuters reported.The investment figure, announced by Volkswagen CEO Oliver Blume, is part of the company’s rolling five-year capital expenditure plan, which is updated annually. The latest commitment compares with €165 billion earmarked for 2025–2029 and €180 billion for 2024–2028, with 2024 marking the peak year for spending.Since that peak, the group — which houses brands such as Porsche and Audi — has been squeezed by higher costs and weaker margins, hit by US tariffs on imported vehicles and intensifying competition in China. The strain has been felt most acutely at Porsche, which derives nearly half of its sales from the US and China combined.Porsche recently unveiled a significant rollback of its electric vehicle strategy as profits came under pressure. Speaking to Frankfurter Allgemeine Sonntagszeitung, Blume said the focus of the latest investment plan was firmly “on Germany and Europe,” particularly in products, technology and infrastructure.Blume added that discussions on an extended savings programme at Porsche are expected to continue into 2026. He also said he does not expect Porsche to grow in China, though localising production across the wider Volkswagen group remains an option. A China-specific Porsche model could make sense at some point, he said.On Audi, Blume noted that any decision on building a manufacturing plant in the United States would depend on whether Washington offers substantial financial support.Blume, who will step down as Porsche CEO in January to concentrate fully on running Volkswagen Group, said his recent contract extension as Volkswagen chief executive until 2030 signalled continued backing from the Porsche and Piëch families as well as the German state of Lower Saxony, the company’s largest shareholders.“But it is true, of course, that shareholders have suffered losses since Porsche went public three years ago. I, too, must face up to this criticism,” he said.
Business
How IndiGo Managed To Hold A Country Of 1.4 Billion People Hostage, Forced Govt To Bend Rules | Analysis
At a time when most Indian airlines are posting losses, IndiGo stands out as the only profitable carrier. Yet, while loss-making airlines managed to comply with DGCA directives within the allotted 18-month period, the one airline turning a profit failed to do so. The DGCA had provided ample time for compliance and workforce planning. But while others focused on meeting regulatory requirements, IndiGo appeared to pursue a different strategy—creating disruption to pressure the government. Incredibly, this approach worked: instead of imposing penalties, the government chose to relax the norms.
Aviation expert Harsh Vardhan squarely called this entire crisis a failure of IndiGo’s management. He said this is an extremely unprecedented situation. Passengers have been suffering for three days, and this is the peak tourist, wedding, and business season. IndiGo’s claim that the new FDTL policy suddenly created problems is nothing but a management failure. The policy wasn’t introduced overnight—it was formulated over years of deliberation and was finalised a year ago.
Harsh Vardhan reminded that the soft launch of the FDTL took place on July 1, 2025, and it was fully implemented from November 1, 2025. Other operators like Air India and SpiceJet made timely adjustments, which is why no major crisis emerged there. What surprises him most is the timing—if the policy was effective from November 1, why did this sudden “rampage” begin only a month later, at the start of December?
“The Government of India has decided to institute a high-level inquiry into this disruption. The inquiry will examine what went wrong at Indigo, determine accountability wherever required for appropriate actions, and recommend measures to prevent similar disruptions in the future, ensuring that passengers do not face such hardships again,” said the Ministry of Civil Aviation in a statement.
No one knows what will come out of the inquiry but, interestingly, IndiGo got rewarded for its blackmailing, instead of getting punished as the government relaxed norms.
Due to the IndiGo induced turbulence, the airfare on key routes touched Rs 80,000 to Rs 90,000. IndiGo didn’t merely cancel flights—it brought the system to a standstill, grounding aircraft, showcasing its clout, and effectively challenging the government to respond. Instead of asserting its authority, the NDA government backed down and rolled back its own directive. Through deliberate mismanagement, the airline pushed the system toward chaos. The suspension of over a thousand IndiGo flights severely disrupted the economy, sending hotel prices and ticket fares on other airlines soaring.
“The central government has ordered a probe and refunds—but the question is: when the monopoly of private companies and the government’s silence come together, who will protect the common people? Who are you working for? The public or the interests of big corporate houses?” Former Delhi Dy CM Manish Sisodia rightly questioned the government.
Shockingly, a country of 1.4 billion people relies primarily on just two major domestic carriers—IndiGo and Air India. IndiGo’s dominance is so significant that even Leader of the Opposition Rahul Gandhi publicly criticised the government for its oversight failures. “IndiGo fiasco is the cost of this Govt’s monopoly model. Once again, it’s ordinary Indians who pay the price – in delays, cancellations and helplessness. India deserves fair competition in every sector, not match-fixing monopolies,” said Gandhi.
For two decades, successive governments have allowed major airlines to collapse instead of restructuring them under new ownership. Jet Airways and Kingfisher Airlines are prime examples: both could have been revived by removing problematic promoters, yet no institutional mechanism was activated. The pattern repeated itself with Go First. When three airlines vanish in a decade, it signals not merely corporate failures but a systemic unwillingness to safeguard competition and consumer interest, wrote Prashant Tewari, public policy expert, mentioned in a recent report in The Pioneer.
Today, IndiGo controls over half of India’s domestic aviation market, with the Air India group holding most of the remainder. Smaller airlines operate on the margins, too weak to influence pricing or service standards.
Tewari wrote that disappearance of three airlines within years show government’s failure of protecting competition and consumer interest.
This duopoly-like environment has suffocated passengers: airfares on busy domestic routes routinely exceed those for comparable distances in Europe, Southeast Asia, or even the United States. A two-hour flight within India can cost more than a four-hour international journey elsewhere.
“IndiGo airline fiasco shows that Modi govt is either incompetent or in collusion. In either case, India deserves better. People have never suffered so much,” said Former Delhi CM and AAP convener Arvind Kejriwal.
For years, India’s aviation sector has needed at least eight to ten robust operators to foster true competition, stabilise fares, and minimise disruptions. Instead, new entrants face steep barriers, licensing moves painfully slowly, and foreign carriers seeking expansion are hindered by outdated protectionist policies disguised as national security concerns. This refusal to liberalise the skies has turned India into one of the world’s most expensive domestic aviation markets.
According to Tewari, the duoploy ecosystem suits certain entrenched interests. With opaque decision-making, India’s aviation sector functions with minimal accountability, he opined.
Though the government’s UDAN scheme was launched to make air travel accessible to the common citizen, soaring fares have made flying increasingly unaffordable.
Besides opening new airports, the government must urgently liberalise the sector, encourage new domestic players, revive grounded airlines under competent management, and allow credible foreign carriers to compete under regulated conditions. Until then, Indian travellers will continue to pay excessively, learning the same harsh lessons again and again.
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