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It appears that online gambling stocks are becoming the hot commodity of 2020. The online gambling and sports betting industry, known as iGaming, is now mainstream and it didn’t even need the pandemic to help catapult it either. In 2018, when the United State Supreme Court overturned the Professional and Amateur Sports Protection Act, it regulated the taxation of interstate gambling and sports betting.
While states like Nevada had been implementing this for years, other states began to take the charge towards iGaming. This is the future of gambling, mostly because of convenience to gamble from home. From a financial standpoint, iGaming has taken off even further with the spread of COVID-19, which makes this stock market one of the growing trends in personal finance.
Prior to the PAPA’s decision to overturn the decision, many casino operators in America couldn’t engage in real-money iGaming. That meant live casinos, playsugarhouse, and other platforms were not able to be active. Sure, the platform could offer a simulated iGaming station, but it was rendered useless to the general public’s eye because the operation was without real money. You can’t exactly grow an industry with fake money.
In 2018, the decision laid the groundwork for the state to create a framework towards regulating their own respective economies. Since then, online gambling and sports betting have been regulated in a safe, marketable way. Playing for real money certainly helped expand that as well. From what it looks like, it only took two years for the future to arrive.
The Selling Point
If you are not familiar with stocks, don’t fear because there are plenty of advisors out there that can help. It’s about finding the right market to invest, and this appears to be the mainstream market to invest your money. Over the next decade, we will likely see iGaming gain tremendous traction as the data analytics are pointing to more and more states looking to adopt a framework to facilitate iGaming.
As of today, there are 30 states that have legalized gambling, while 18 states have operated casinos. The potential growth in this market is there, but what type of market should you specifically give your attention?
The Top Stocks
For starters, DraftKings is on the rise. This platform is widely known in America and owns over 12 million registered accounts with 500,000 monthly active players. The company has expanded to Sportsbook as well to compete against its rival Fanduel. In terms of the iGaming market, DraftKings offers first time bonuses to new registered players and offers you the ability to compete against your friends.
Another stock that could be on the rise is GAN. This is different from other online betting apps because this is a company that helps casinos operate the technology to allow players to compete in iGaming.
In the end, iGaming is on the rise and it appears to be one of the safest plays in stock management. With over 20 states left on the board to legalize gambling, the industry will only grow. That means that your investment will grow with it. The trajectory of gambling can only go up when less that 50% of the market is regulated.
There are currently many states trying to fight to legalize competitive gambling in their state. There are only three states that have not introduced a bill, while four states recently had a bill passed as of November 2020. This market is going to see a surge within the next five years and could be one of the safest stocks on the market.