Business
UK Online Casinos Face Further Increased Costs
Recently published figures for Q3 of the 2025-26 financial year revealed gross gambling yield (GGY) for UK online casinos of £1.5 billion. Will they be able to continue posting such results amid rising costs in the coming months?
The cost of a UK Gambling Commission (UKGC) licence is likely to be increased later this year. It’s the latest piece of bad financial news for UK online casinos. Although the online gambling industry continues to post impressive results, there are also concerns about the dangers of addiction.
Last year saw a new mandatory levy come into force. UK gambling sites reviewed by Dailystoke.com had been making voluntary payments with funds going towards researching gambling harm and treatment of those who have been affected. However, the government felt not all companies were making an equal contribution and introduced a mandatory levy. This is aimed at raising £100 million a year with some of the funds going to the NHS.
Then came the Autumn Budget which included details of a rise in Remote Gaming Duty. A rise had been considered long overdue but companies were shocked when the rate went up from 21% to 40%. This will come into force in April of this year. A further rise in sports betting tax rates will take place next year.
There has been stricter regulation introduced in the past year and more is likely to come into force in the future. One major rule change last year saw maximum stakes for online slots introduced and this year, action has been taken against the bonuses UK online casinos offer.
Financial results published since the maximum stakes for online slots were introduced haven’t been bad news for online casinos. Slots provide a large proportion of GGY for sites and for Q3 the figure was £788 million 10% higher than recorded in the same period 12 months ago.
The average length of sessions for players has fallen from 18 minutes to 16 minutes but sites will be relieved to see the high GGY figure. The overall GGY of £1.5 billion was up from the £1.42 recorded in Q2. However, compared to Q3 of the previous financial year, there was a 2% fall.
Last month saw a consultation period begin regarding a rise in the cost of a UKGC licence. These are required for a company to legally operate in the UK. As you will read, there are many companies who are unlicensed and causing serious problems for the Treasury, legal operators and gamblers.
The UKGC has a tough task regulating the gambling industry and regularly investigates companies who may have committed regulatory breaches. This has seen several companies issued with fines when breaches have been confirmed. With the UKGC also looking to deal with the problems being caused by illegal sites, their costs have been steadily increasing and not been matched by their level of funding, hence the existence of a shortfall that needs to be closed.
That is why they are calling for a rise of an average 30% but there are other options currently being discussed in the consultation period. Other options are a 20% increase and the one that the government prefers. That would see a 30% rise in licence fees but only 20% would be used for commission-related costs with the remaining 10% ring-fenced and only used for specific regulatory priorities. These would include strengthening their enforcement capabilities and taking action against illegal operators.
The UKGC say that if the increase was to be only 20%, this would lead to savings of £15.8 million needing to be made and possibly a 10% cut in staffing levels by 2030-31. They would find it difficult to be able to carry on their current level of investigating suspected regulatory breaches.
How would UK online casinos be affected by a further rise in costs on top of the mandatory levy and tax increases? Stricter regulation is driving players to the black market and that is a worrying problem for the legal sites. It’s not good news for players either as the levels of customer protection are not as high as they do not need to adhere to the new rules. The Treasury does not receive any mandatory levy or tax contributions so a strong UKGC is needed to lead the fight against the illegal operators.
Top companies such as bet365, Flutter Entertainment and Entain are global businesses. If the levels of regulation continue to increase as well as the higher costs, they may be forced to make cuts in the UK and concentrate more on overseas interests in South America, the USA and Asia.
Business
Country star Brantley Gilbert enters growing non-alcoholic beer market
Country music star Brantley Gilbert speaks to Fox News Digital about his latest equity partnership with Real American Beer and his 14-year sobriety.
Brantley Gilbert, the seven-time No.1 country hit singer-songwriter, has experienced more than one occasion in his life where his 14-year sobriety felt like sitting on the sidelines.
“Nothing beats a cold beer when you’re grilling out or watching a game with your buddies, your family. And as a country music songwriter, we write about cold beer in every other song,” Gilbert told Fox News Digital.
“This is a chance for those of us that have taken alcohol out of our lives for one reason or another to drink a cold beer,” he said, “and share one with our buddies.”
America’s oldest and youngest generations are drinking less, with U.S. alcohol use hitting its lowest point in nearly a century, according to the 2025 Gallup Consumption Habits survey. Only 54% of adults reported using alcohol last year, with half of 18-to-34-year-olds not drinking at all — a steep drop from the 72% of young adults who did two decades ago.
SOBER CURIOUS FOR THE SUMMER? T.H.C.-INFUSED BEVERAGES ARE ON A HIGH
The desire to cut back on alcoholic beverages has poured into a budding market of non-alcoholic beers and wines, which Gilbert is now proudly a part of.

Country music star Brantley Gilbert speaks to Fox News Digital about why he’s investing in Real American Beer’s first non-alcoholic offering. (FOXBusiness)
Going from fan to owner, the country music powerhouse is Real American Beer’s (RAB) latest major equity partner. He’s spearheading the launch of RAB Zero, the brand’s first non-alcoholic drink that promises “real beer energy” without compromise.
For every case that’s sold, RAB plans to donate $1 to the U.S.O.
“The RAB folks are just next-level people, and they’re patriots,” Gilbert said. “They’re about God, family and country, and that’s easy to get on board with for me.”
Wrestling legend wants to bring America back together, ‘one beer at a time.’
Real American Beer aims to set itself apart from rivals by making the beer a part of a meaningful experience rather than focusing on the product itself. The brand launched in 2024 and pays homage to its late founder, Hulk Hogan.
Led by former Anheuser-Busch InBev executive Terri Francis, he previously told FOX Business that it had been Hogan’s dream to “be bigger than Bud Light” before his death in July 2025 at age 71, just over a year after launching the company.
“[Growing] up, watching wrestling, I thought Hulk Hogan was almost the second coming, and getting a chance to meet him and knowing what he was up to with Real American Freestyle, I got a chance to kind of become friends with him and writing the theme song for that, what he wanted it to sound like,” Gilbert reflected. “Really, you know, the conversation had to develop into, what do you want this brand to be about? And obviously that was just all-American.”
NCAA All-American and MMA Champion Colby Covington and Real American Beer CEO Terri Francis discuss their partnership on ‘Varney & Co.’
“I don’t really partner with people that I don’t believe in or products that I don’t use myself,” he added. “Having a stake in the game obviously adds to the equation.”
Gilbert, who has been sober since December 2011, explained why he wanted a product that allowed people to participate in “beer moments” without alcohol.
“I finally came to terms with the fact that I’m allergic to alcohol, like I break out in handcuffs and bad decisions,” Gilbert said.
“It’s not that I can’t drink. It’s that I choose not to, you know what I mean? It’s a choice. And I think people are a little more respectful towards that… This is an option… for beer lovers like myself to still pop a top and cheers your buddies and have a cold beer without having all the bad decisions, all the negative things that come with it.”
Soft Bar founder and reality TV star Carl Radke breaks down America’s declining alcohol consumption, his sobriety journey and building a business around the booze-free movement on ‘Maria Bartiromo’s Wall Street.’
The country music star views this partnership as a way to carry the torch for his late friend while celebrating his own personal redemption as a married dad of three.
He also sees 2026 as “a hell of a ride,” even teasing that more new music is coming.
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“My story is one of those being blessed… My wife coming back in the picture and giving me a chance to love her after not seeing or speaking to each other for six or seven years,” Gilbert said. “It is this kind of redemption story that, without, frankly, I would be not in a great place.”
“Years down the road, God willing, we are cheers-ing and celebrating not just the success story of this brand, but the success story of American patriotism.”
FOX Business’ Daniella Genovese contributed to this report.
Business
Better Home & Finance Stock: Tremendous Growth Needed To Justify Valuation (NASDAQ:BETR)
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Quant Small Cap Fund : HDFC Bank and Jio Financial Services among stocks bought and sold in February
Quant Small Cap Fund added HDFC Bank and others, trimmed Jio Financial, and exited Stanley Lifestyles in February.
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How Ecovyst’s 60% surge validated InvestingPro’s Fair Value analysis

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Tesla Has Just Shared Game-Changing News (Rating Upgrade)
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Business
F&O Talk | Nifty breaches crucial Fibonacci retracement level; Sudeep Shah on Adani Total and 5 top weekly movers
Global cues remain negative with no clarity on the longevity of the war. The energy crisis could lead to a further downside amid high volatility.
Fear index India VIX is up 120% over a three-month period and is now hovering around 22.65.
Analyst Sudeep Shah, Vice President and Head of Technical & Derivatives Research at SBI Securities, interacted with ETMarkets regarding the outlook for the Nifty and Bank Nifty, as well as an index strategy for the upcoming week. The following are the edited excerpts from his chat:
Q: Nifty ended sharply lower at 23,151.10, dropping 5.3% on a weekly basis. Do Nifty charts suggest more bloodbath next week?
The bloodbath on Dalal Street continued for the third consecutive week, as the prolonged escalation of geopolitical tensions between the US and Iran dented investor sentiment. The intensity of the correction increased significantly during the last three trading sessions, with the benchmark Nifty index correcting over 5% during the week, marking its sharpest weekly fall since June 2022. The Automobile and Banking stocks were the major contributors to the decline, dragging the index lower. However, the bigger trigger behind this sharp sell-off may not be just geopolitical tensions alone.
One of the key factors weighing on the market has been the sharp volatility in crude oil prices. Last week, Brent crude cooled off and touched a low near $80.29, offering some temporary relief to the markets. However, prices soon resumed their upward trajectory and are now quoting close to $100, which has again dented investor sentiment. Additionally, concerns over gas shortages and supply disruptions following the Strait of Hormuz squeeze have added to uncertainty across several industries. But the real concern for the market becomes clearer when we look at the technical structure of the index.
Also read: FIIs sell Indian equities worth Rs 52,704 crore in March, so far; Friday records its highest single-day outflow in 2026
From a technical perspective, the index remains in a strong downtrend, with the pace of the fall turning sharper in recent sessions. Over the last 27 trading sessions, Nifty has corrected more than 12%, making it one of the sharpest declines in the recent past. Notably, the index has been forming weekly candles with long upper shadows over the last two weeks, indicating that every pullback is witnessing selling pressure. This pattern suggests that market participants are using every rise as an opportunity to exit positions.
Further, the index has now closed below the crucial 61.8% Fibonacci retracement level of its prior rally from 21,743 to the all-time high of 26,373, suggesting a weakening technical structure. Such a breach of a key retracement level often signals that the market may need more time before finding a meaningful bottom. Momentum indicators are also reflecting strong bearish momentum. The weekly RSI has slipped to 30.43, its lowest level since the COVID-19 market fall. This raises an important question — how much further can the correction extend from here?
Going ahead, the 22,850–22,800 zone will act as immediate support for the index. A sustainable move below 22800 could lead to further correction towards 22,500. On the upside, 23,450–23,500 will act as immediate resistance.
Q: What does the F&O data suggest about Bank Nifty which was among the worst-performing indices, sliding 7% WoW?
The banking benchmark index, Bank Nifty, has also witnessed a sharp correction in recent sessions and has significantly underperformed the frontline indices, reflecting sustained selling pressure in banking heavyweights. Over the last week alone, the index has declined by nearly 7%, and notably, it has broken down from its rising channel on the weekly chart, signalling a clear shift in the medium‑term trend from consolidation to weakness.
From its recent peak of 61,678, Bank Nifty has corrected by nearly 13% within just 15 trading sessions, highlighting the intensity and speed of the ongoing decline. Such a sharp fall over a short span typically indicates aggressive unwinding of positions and heightened risk aversion within the banking space.
From a technical standpoint, the setup remains decisively bearish. All key moving averages and momentum‑based indicators are aligned on the downside, confirming the prevailing negative trend. The weekly RSI is currently placed around 34.56, which marks its lowest level in recent years, suggesting persistent weakness and lack of meaningful buying interest despite the sharp correction.
Looking ahead, the 53,400–53,200 zone is expected to act as an important support area for the index, as a horizontal trendline support is placed in this region. However, any sustained breakdown below the 53,200 level could further aggravate selling pressure and open the downside towards 52,500, followed by 51,800 in the short term. On the upside, any pullback or relief rally is likely to face strong resistance in the 54500–54600 zone, which is expected to act as an immediate hurdle and may attract fresh selling interest.
Q: India VIX has shot up above the 22 mark, rising 13% this week. Which sectors can help investors ride this volatility?
India VIX has surged above 22, signalling heightened market volatility and investor caution. Historically, VIX moves inversely with the Nifty, so rising VIX often coincides with falling equity markets. In such phases, defensive sectors tend to outperform, while cyclical sectors lag. Investors looking to navigate this volatility can focus on FMCG, Pharma, CPSE & PSE, which offer stable earnings and resilience against market swings. Gold can also provide a hedge, either through ETFs. Conversely, Financials, Consumer Discretionary, and Auto sectors typically underperform during high VIX periods. An actionable approach is sector rotation: reduce exposure to high-beta sectors and increase allocation to defensive ones, balancing risk while participating in potential rebounds.
Q: What should investors do with auto stocks (Nifty Auto down 11% WoW), which have been at the receiving end of investors’ ire?
Nifty Auto has corrected sharply, down nearly 10% in just three days, with key stocks like TVS Motor, Bajaj Auto, Maruti, M&M, Eicher Motors, and Hero MotoCorp slipping below their 200-day EMA, a critical long-term support. Technical indicators point to bearish momentum: RSI for most stocks is below 40 and falling, while ADX is rising, signalling strengthening downside. The Relative Rotation Graph (RRG) places Nifty Auto in the weakening quadrant, highlighting a lack of counter-momentum. In this environment, it is advisable not to bottom fish. Investors should wait for signs of stabilisation, such as RSI recovery above 40 or prices holding above key support levels, before considering fresh exposure. Patience remains crucial during this bearish phase.
Q: Another concern that engulfs Indian markets is rupee weakness, and as the dollar has hit a 4-month high, it looks like a double whammy. What range do you see for the rupee?
USDINR has broken above its previous swing high of 92.10–92.20 and closed higher, signalling continued dollar strength. Rising crude oil prices are a key driver, as higher crude invoicing in dollars increases demand for the currency, putting additional pressure on the rupee. A stronger dollar also impacts foreign exchange reserves and can deter FII inflows, as it erodes the value of their investments in India. The immediate support for USDINR is at 91.70–91.60, and as long as the pair trades above this zone, the rupee is likely to remain under pressure. Investors should monitor crude oil trends closely, as sustained high prices could keep the rupee weak in the near term.
Q: FACT, ATGL and Happiest Minds have been star performers this week, while Amber Enterprises, PG Electroplast and Sapphire have been big losers. What should investors do with them?
This week’s outperformers, FACT, ATGL, and Happiest Minds have shown sharp rebounds but face key resistance levels. FACT bounced from 652 but faces resistance at 910–920; a sustained move above this could extend the pullback. ATGL rose from 463 and briefly crossed its 200-day EMA, with 640–650 acting as strong resistance; upside momentum may pick up once this zone is breached. Happiest Minds recovered from 330 but stalled at its 100-day EMA, with 440–450 as the critical resistance level.
Among laggards, Amber Enterprises has corrected nearly 21% from its Feb high, with RSI below 40; as long as it trades below 6700–6800, the trend remains bearish. PG Electroplast hovers near support at 506–496, and a breakdown could extend weakness. Sapphire continues a lower-low, lower-high pattern, with rising ADX signalling trend strength; below 185–190, bearish bias persists. Investors should monitor resistance and support levels before taking positions.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
Business
War fears spark market panic, but correction may be opening buying opportunities: Sunny Agrawal
Speaking to ET Now, SBI Cap Securities’ Sunny Agrawal said the recent selloff in several large-cap names appears to be driven more by panic and worst-case assumptions rather than a deterioration in business fundamentals.
One example is the reaction to companies with exposure to the Middle East, where investors are factoring in a prolonged disruption to projects and economic activity. “There is an absolute panic in the stock basis that the company has got 25% to 30% exposure to the Middle East, and the market is discounting that the entire order book of 25% to 30% exposure that may not get executed over the period of the next 6 to 24 months,” he said.
However, Agrawal believes the market may be extrapolating an extreme scenario. If geopolitical tensions ease in the coming months, investors may return to more normal assumptions about project execution timelines and business growth.
He pointed out that the underlying order pipeline for some companies remains strong despite the recent volatility. “Looking at a very robust order book of closer to Rs 4.3 trillion and within that also closer to 30% contribution is from the private sector, which clearly indicates that even private sector capex is picking up,” he said.
With valuations correcting sharply alongside the broader market, the risk-reward for long-term investors is beginning to improve. “Post correction, now valuations have even turned comfortable… we feel the fair value of the business is closer to Rs 4,000-4,200. So, any dip currently is a good buying opportunity for a long-term investor,” Agrawal said.
In the consumer internet space as well, rising competition and temporary disruptions have weighed on sentiment, but the broader growth story remains intact. “Post correction, even there we feel that the risk-reward is turning favourable. In fact, both these stocks, Eternal as well as Swiggy looks pretty attractive as the long-term growth opportunity is pretty intact,” he said.At the macro level, crude oil remains the key variable for India’s economic outlook. Elevated energy prices could trigger inflationary pressures across the economy if they persist for several months. “In case the crude continues to trade above $90 and in the band of 90 to 110 for a pretty long period of time, three to six months, then definitely it will have an inflationary impact across the value chain, first for the manufacturer and then for the consumer,” Agrawal said.
Still, he noted that India has been experiencing relatively low inflation over the past year, which could provide some cushion if energy prices remain volatile.
In banking, Agrawal said valuations have also become reasonable after the recent correction. “Post correction, now most of the private banks are trading at a pretty reasonable valuation,” he said, adding that a mix of private and well-diversified public sector banks could help investors navigate the current environment.
As markets digest geopolitical risks and commodity volatility, Agrawal believes the current phase of panic could gradually give way to selective opportunities for investors willing to take a longer-term view.
Business
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Business
Dollar Extends Gains as Iran Conflict Shows No Signs of Abating
The U.S. dollar strengthened to its highest level in more than three months against a basket of currencies Friday as investors sought safe-haven assets and energy prices rose due to the widening Middle East conflict.
“We cannot see investors wanting to fight this dollar rally, given there is so little certainty as to when this crisis will end,” ING’s global head of markets, Chris Turner, said in a note.
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