The Danish Gambling Authority has shared data for October 2025, highlighting a large decrease in the total gambling spend when compared to the same month last year, led primarily by the betting market. The total gambling spend has fallen by 3.4% from October 2024 to this year.

However, it’s worth noting that this is primarily led by a massive 46% drop in the betting market. Indeed, that was the only market in Denmark to experience a decrease.

In other areas, like online casinos, for example, gambling spending is actually up. Online casinos saw the biggest increase of 24.4%, while physical casinos and gaming machines rose by 6% and 0.6% respectively.

“The statistics show that the decrease for the total gambling market is due to a large fluctuation in the betting market in October 2025 compared to October 2024,” confirms the statement from the Danish Gambling Authority.

These trends echo similar increases reported earlier this year in Denmark, which saw online casino and betting increasing by 21.6% and 6.1% respectively. Looking at the decrease now, it’s clear that it’s only dropped by that much thanks to the remarkable 46% decrease in the betting market.

Why is Denmark’s betting market trending down?

While there’s no one clear answer for why this is, it could be due to reduced sporting interest, economic caution as recessions loom across Europe, or increased competition from digital casino products. Indeed, the latter option could be a logical assumption, considering online casinos have seen the largest increases since last year.

Indeed, studies show that, while physical casinos tend to suffer during economic downturns, players tend to gravitate towards luck-based games, which could account for increased interest in slot games or online casinos, stealing potential spend away from the betting market, for example.

Featured image: Stenbom on Wikimedia Commons, licensed under CC BY-SA 3.0

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Mark Zuckerberg tumbled from third to fifth place on the Bloomberg Billionaires Index after Meta’ stock plunged 11% on Thursday — wiping out $29.2 billion from his fortune in just one day.

The 41-year-old CEO’s net worth fell to $235.2 billion, his lowest ranking in nearly two years, as investors recoiled from Meta’s plan to issue $30 billion in new debt to fund artificial intelligence spending, according to Bloomberg.

Mark Zuckerberg tumbled two spots on the Bloomberg Billionaires Index after Meta Platforms’ stock plunged 11% on Thursday. REUTERS

The drop was the fourth-largest one-day market-driven loss ever recorded by Bloomberg’s wealth index.

Zuckerberg reportedly refused to clap Wednesday after singer Billie Eilish said at the Wall Street Journal Magazine Innovator Awards that billionaires should “give your money away.”

Meta’s steepest stock selloff since 2022 followed the company’s announcement that it would raise its total expense forecast for 2025 to as much as $118 billion — including up to $72 billion in capital expenditures — to expand its AI infrastructure, with even higher spending anticipated in 2026.

The staggering outlay triggered at least two analyst downgrades, with some warning that Meta’s AI ambitions could squeeze profits.

Zuckerberg, who saw his net worth soar by $57 billion earlier this year as Meta shares rose 28%, was leapfrogged by Amazon founder Jeff Bezos and Google co-founder Larry Page.

Tesla CEO Elon Musk sits comfortably atop the billionaires ranking, followed by Oracle co-founder Larry Ellison.

Both Bezos and Page benefited from strong earnings that drove up their companies’ stock prices.

The 41-year-old CEO’s net worth fell to $235.2 billion, his lowest ranking in nearly two years. Zuckerberg is pictured with wife Priscilla Chan. Getty Images

Amazon’s shares have surged more than 30% since April amid renewed optimism about its cloud-computing unit, which has inked deals with AI startups including Anthropic.

Alphabet stock climbed 2.5% after the company posted better-than-expected third-quarter revenue, powered by demand for cloud and AI services.

Meta’s $30 billion bond sale — the biggest investment-grade offering of 2025 — was meant to bolster spending on AI, data centers and metaverse projects.

Instead, it sparked fears that the social media giant is overextending financially just as competitors gain ground in AI-driven advertising.

The Meta boss has poured hundreds of millions of dollars into real estate, including a massive estate on Kauai, Hawaii. Google

He also owns multiple homes near his main Palo Alto residence, acquired to maintain privacy. Bloomberg via Getty Images

The rout marked a sharp reversal for Zuckerberg, who earlier this year was closing in on Bezos and Elon Musk in the global wealth rankings.

Despite his massive wealth, Zuckerberg has cultivated a public image of modesty — often photographed in plain T-shirts and jeans — while quietly indulging in some of the most extravagant purchases among Silicon Valley elites.

The Meta boss has poured hundreds of millions of dollars into real estate, including a massive estate on Kauai, Hawaii, that reportedly includes an underground bunker with a blast-resistant door.

Zuckerberg has denied reports of a “doomsday bunker.”

He also owns multiple homes near his main Palo Alto, Calif., residence, which was designed to maintain privacy.

Zuckerberg purchased the 387-foot yacht Launchpad for an estimated $300 million, along with a $30 million support vessel dubbed Wingman. Thierry Ameller

For his 40th birthday, Zuckerberg reportedly hosted an extravagant bash aboard Launchpad — one of several lavish celebrations he’s thrown in recent years. Bloomberg via Getty Images

Zuckerberg’s Hawaiian holdings now span thousands of acres, making him one of the state’s largest private landowners.

Local reports say his property features an extensive security system and a network of tunnels linking buildings across the compound.

Though once known for driving modest vehicles such as a Honda Fit, Zuckerberg owns an ultra-rare Italian Pagani Huayra valued at over $1 million, along with a growing collection of vintage cars.

Those include Ford Broncos and a custom Porsche worth about $250,000.

In recent years, he entered the superyacht scene in dramatic fashion. Zuckerberg purchased the 387-foot yacht Launchpad for an estimated $300 million, along with a $30 million support vessel dubbed Wingman.

For his 40th birthday, Zuckerberg reportedly hosted an extravagant bash aboard Launchpad — one of several lavish celebrations he’s thrown in recent years.

The billionaire also commissioned a 7-foot statue of his wife, Priscilla Chan, a piece that underscores both his personal affection and penchant for eye-catching displays of wealth.

Meta shares were down nearly 2% as of 2 p.m. ET on Friday.

Zuckerberg has not publicly commented on the market drop. The Post has sought comment from Meta.

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In mid-morning trading, the Dow was down 538.07 points to 43,592.91, representing a 1.22% decline. The S&P 500 fell 84.72 points to 6,254.67, down 1.34%, while the Nasdaq dropped 357.10 points to 20,765.35, losing 1.69% of its value.

Both the broad-based S&P and the tech-heavy Nasdaq had broken record highs in intraday trading on Thursday.

Stocks fell sharply Friday morning with the Dow Jones Industrial Average dropping as much as 700 points before recovering somewhat. REUTERS

The selloff came after the Bureau of Labor Statistics reported an increase of 73,000 nonfarm payroll positions in July — below economist expectations for 100,000 new positions.

Private sector employment increased by 83,000, while government jobs declined by 10,000, according to the data.

The unemployment rate held steady at 4.2%, matching June’s level, according to a separate BLS report Friday.

Wage growth, meanwhile, maintained its strength at 3.7% annually, continuing to outpace inflation, which currently runs at 2.4%.

“Inflation has cooled, wages have increased, unemployment is stable, and the private sector is growing,” White House spokesperson Karoline Leavitt told The Post.

“President Trump’s America First agenda has ensured new jobs go to American citizens, instead of illegals or foreign-born workers.”

The broad-based selloff accelerated after the Bureau of Labor Statistics reported an increase of just 73,000 nonfarm payroll positions in July. AP

Leavitt also hit out at Fed Chair “Jerome ‘Too Late’ Powell,” saying that the central bank chief “needs to cut rates so our economy can continue to boom.”

However, the weaker-than-expected hiring data combined with looming tariff increases set to take effect next week triggered concern that the economy could be heading toward a downturn.

Market analysts attributed the steep losses to growing pessimism about economic fundamentals as multiple challenges converge simultaneously.

Containers are reflected in a puddle at a cargo terminal in Frankfurt, Germany, on Aug. 1. New tariffs are set to take effect next week. AP

“While investors have been viewing the commencement of the Fed cutting cycle as a positive catalyst for risk assets, today’s release is best characterized as ‘bad news is bad news’ in our view,” Jeffrey Schulze, head of economic and market strategy at ClearBridge Investments, told CNBC.

“With job creation at stall speed levels and the tariff headwind lying ahead, there’s a strong possibility of a negative payroll print in the coming months which may conjure up fears of a recession.”

The Trump administration is preparing to implement sweeping new tariffs beginning Aug. 7, affecting imports from approximately 70 countries.

The trade duties will range from 10% to 41%, replacing temporary baseline rates and significantly escalating trade tensions globally.

Several major trading partners face immediate impacts.

Canada will see tariffs on most exports increase from 25% to 35% as of August 1, while Mexico maintains 25% duties on certain goods for an additional 90 days following last-minute negotiations.

Brazilians hang an anti-Trump effigy during a protest against tariffs on Brazilian products on Aug. 1. REUTERS

Brazil faces 50% tariffs on most exports, and India will encounter 25% duties starting next week.

The cumulative effect represents a dramatic shift in US trade policy, with the average tariff rate jumping from approximately 2.3% in early 2024 to around 18% after full implementation.

The business community has expressed mounting concern about the economic implications of the tariff expansion.

Small Business Majority Founder and CEO John Arensmeyer highlighted the challenges facing entrepreneurs in a statement released Friday.

“The latest round of tariffs has infused small businesses with a renewed sense of dread,” Arensmeyer said.

Arensmeyer added that the tariffs were causing “months-long confusion and uncertainty” and that the “shifting goalposts makes it nearly impossible for any small business to plan for the future.”

“After all, there is virtually nothing small businesses can do to avoid tariffs in the short term,” he said, adding: “Even products dubbed ‘made in America’ are often assembled from imported components.”

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In March, Reuters reported that President Donald Trump’s Department of Justice (DOJ) was in talks with the airline regarding the lawsuit, which was initiated by the Department of Transportation (DOT) under then-President Joe Biden.

According to the same report, Southwest Airlines had until May 30 to respond to the lawsuit, but the DOJ moved to drop the case ahead of that date.

“We appreciate the DOT’s decision to abandon its lawsuit against Southwest, which we believe is the correct result in this case,” a Southwest spokesperson told Fox Business.

The DOT filed the lawsuit in January during the final days of the Biden administration, accusing the airline of “illegally operating multiple chronically delayed flights and disrupting passengers’ travel,” according to a DOT statement.

The Southwest spokesperson said that the two flights at the core of the Biden administration’s lawsuit occurred during the COVID-19 pandemic, which presented difficulties. 

The Trump administration dropped its lawsuit against Southwest Airlines, allegedly over the chronic flight delays. AP

“The two flights at issue occurred years ago when the industry faced unprecedented challenges from the COVID-19 pandemic and were delayed due to issues outside of Southwest’s control in numerous cases. Since the pandemic, we have made significant investments in our operation, which in 2024 provided our customers with best-in-class operational reliability,” the Southwest spokesperson told FOX Business.

The two flights the lawsuit focused on were one between Chicago Midway International Airport and Oakland, California, and another between Baltimore and Cleveland.

According to a statement from the Biden DOT, 180 passengers were impacted by the disruptions between April and August 2022.

“Each flight was chronically delayed for five straight months,” the Biden DOT wrote.

The report revealed that the airline had until May 30 to respond to the lawsuit, but the Department of Justice (DOJ) decided to drop the case. AP

It also included a complaint that the airline was engaging in “unfair, deceptive and anticompetitive” practices through its alleged use of inaccurate departure and arrival times.

Then-Transportation Secretary Pete Buttigieg emphasized in a statement the need for airlines to ensure they provide travelers with accurate departure and arrival times.

The Transportation Department now says that the lawsuit “should have never been brought forward. Southwest has remedied the underlying issues and USDOT will work with them fairly, not sue them for political gain,” according to a statement to FOX Business from a DOT spokesperson.

The Justice Department declined to comment.

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The changes were in line with those of other major asset managers under political pressure, shifts likely to slow the pace at which boardrooms become less white and male.

But the change was striking for State Street, which in March 2017 installed the famous “Fearless Girl” statue in Manhattan’s financial district as part of a campaign to increase gender diversity in business.

State Street, in March 2017, installed the famous “Fearless Girl” statue in Manhattan’s financial district. REUTERS

Along those lines, the global proxy voting policy of State Street Global Advisors as of March 2024 stated the firm expected boards of companies in major indexes to be 30% female or risk votes against nominating committee members. Larger S&P 500 companies were also expected to have at least one racial or ethnic minority director.

Those targets do not appear in new guidance as of March 2025 from the Boston-based asset manager, however.

The statue was part of a campaign to increase gender diversity in business. REUTERS

Instead State Street wrote that board nominating committees are “best placed” to determine composition.

A State Street representative did not immediately comment.

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