Fire In The Hole

About Fire In The Hole

Paired with the recent rise of prediction markets—which allow traders to stake money on everything from sporting events to pop culture outcomes—Americans are risking more money on casino-like activities than ever before.

Buffett has repeatedly raised concerns regarding the mainstreaming of gambling and its marketing under the guise of investing. In May, he targeted prediction markets and traders speculating on short-term instruments like 30-minute bitcoin options.

“If you’re buying or selling one-day options, that is not investing. It is not speculating. It is gambling,” Buffett said during an interview with CNBC. “There’s nobody who can explain why they’re buying an option for one day.”

About Fire In The Hole

The final third derives from a further 0.4% of a club’s gaming machine profits over $1 million during a tax year. 

However, the scheme has faced ongoing scrutiny and criticism. Clubs can direct the funds towards upgrading their own facilities, and there is no mandated verification for how the grant recipients must deploy the money. 

The latest 2025 contribution report indicated that $127 million was awarded, with $53.3 million specifically allocated to sport-related organisations.

About Fire In The Hole

For the AiA, however, the longer-term ambition for Africa Safer Gambling Week extends beyond reducing the size of the offshore market.

Kesitilwe says the AiA also wants to develop a clearer picture of problem gambling across Africa and use that evidence to support engagement with governments and policymakers.

“We also, from the point of view of the Alliance, intend to do Africa-wide studies around prevalence of problem gambling in different markets, obviously working with regulators and associations,” he says.