Sun. Nov 29th, 2020

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Why Online Gambling Stocks Might Be The Next Big Thing

2 min read

In a time of uncertainty, one where people don’t leave their homes but for the most essential of times, gambling has changed. While large-scale exotic casinos face a decline in business and revenue, online gambling sites have come in to take their crown. Platforms that let players from across the world engage in a host of game modes such as Texas Hold ‘em and Situs Judi online from the comfort of their sofas. Powerful privacy and security features coupled with the accessibility offered by cashless payments have skyrocketed virtual casinos into a business that can actually make a dent in the stock market. The theme of offline to online transition is one that can drastically alter the way casinos work in the future.

The Rise Of Online Gambling

In 2018 the USA legalized sports gambling, letting several states enter the fray. While earlier casinos were stigmatized as black or grey market regions, increasing transparency and flexibility means that online gambling is finally becoming safer and easier to access. In fact, it is replacing people’s secondary income streams and even primary sources of income in some cases. While legalization and regulation vary from state to state, it’s safe to say that these avenues are growing by the day. In an age where pandemic keeps people from casinos, states are further enticed to loosen regulations when it comes to online gambling and betting sites. The potential online casinos have with respect to investments is incredible.

Big casinos have teamed up with online ones to strengthen their rankings and revenue. For instance, DraftKings went up by an incredible 231 percent in the previous quarter while Flutter Entertainment was up by 95 percent. Considering that existing numbers must have already been through the roof, these stocks are a testament to the fact that the gambling landscape is changing. It will soon become a hotly contested arena where casinos both old and new fight for a piece of the ever-expanding pie.  Flutter owns PokerStars, the biggest poker company in the world. It has also established itself in the UK with assets such as Sky Bet and Paddy Power. Even established media channels such as Fox Sports have dug into the niche, with a deal with FOX Bet. Needless to say, this is perhaps the best time for an investor to go all out on online gambling and its virtual casinos.