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Online Betting Continues to Grow as Regulators Reappraise Their Efforts
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NEW YORK, Dec. 21, 2020 /PRNewswire/ More and more states are launching online betting businesses as the legal infrastructure and public opinion have turned in favor of such services. Next year, major markets such as Michigan will join numerous others as online sports betting becomes legal. However, all operators and platform providers, including popular ones like DraftKings and FanDuel, must still earn final licensing approval from the state before launching services. To illustrate just how popular the online sports betting is in states where the market can already operate, New Jersey recorded USD 803.1 Million in bets on sports in the month of October, setting the national record for the third month in a row, according to the state s Division of Gambling Enforcement. Furthermore, according to a report by Mlive, Michigan s commercial c
Online Gambling Shares Are Falling After An Otherwise Successful Year
While the year 2020 has been extremely challenging for businesses across all kinds of sectors, one industry that has been thriving is online gambling.
With brick and mortar casinos having to close across America and around the world due to the coronavirus crisis, the door was opened for online sites to step in and fill the gap.
That resulted in online gambling shares across the board rising at a rapid rate. They have been some of the best stocks to own over the course of the year to date.
However, of late they have been slipping back. So what is the best plan for gambling stocks?