If you spend a big portion of your free time online like we all do, you’ve surely seen an ad or two about an online casino or slot game. The online gambling industry has bloomed in the past few years, breaking revenue records each quarter and year. It shouldn’t be that much of a surprise. Read a Playamo casino review and you’ll easily see why players love online casinos and slots so much.
The fact that you can win life-changing rewards from your couch or on the go is a huge draw for players. Vegas will always stand tall, but the online gambling industry stole a lot of its thunder. With more games, bigger bonuses and promotions and many other surprises, online casinos are on fire right now.
2021 has been the year of the casino. The gambling market did incredibly this year and popped up as one of the best stocks to buy. Online gambling stocks were among the most popular last year, especially as DraftKings hit the market.
Year of Hot Online Gambling Stocks
Last year, investors went crazy on the online gambling stock market. DraftKings went public and had a splash, with Gan Limited and Everi Holdings doing solid as well. Penn National acquired a 36% stake in Barstool Sports and launched a mobile betting app under the Barstool brand. The online gambling stock skyrocketed at that point and never looked back.
Those results led Golden Nugget and Rush Street Interactive seek the same thing. Both companies hit the market trying to get a piece of the pie. Investors are still interested in online gambling stocks, and how could they not be. There are billions to be made in this business, and as new states open up to the idea, the stocks value will continue rising.
The State of Online Gambling in the USA
Most players know that online gambling is not legalized across the USA. There’s no federal ban on online gaming anymore, with all states free to decide how to regulate it on their own. While there have been a few strict opponents to online gambling, most states are open to the idea. That goes double after seeing reports of sky-high annual revenues in Pennsylvania and other states that boost the economy like nothing else.
More and more states are joining the fray including California and Florida. While there are still laws to be tweaked, mobile betting and gambling is legal in most states. Betting giants from Vegas and New Jersey have already started their online ‘outposts’ in many states and are pushing for USA-wide legalization which will take them a step further.
It won’t come that easy or fast. For example, online poker fans have been waiting on legalization for a while. Online gambling companies may still not see the growth investors expect, yet there’s no question that investing in these stocks at the moment is as good as investing in cryptocurrencies. It may be even better, considering Bitcoin’s volatility.
As soon as more states join the fray, we can expect the value of these stocks to skyrocket. What’s clear right now is that the online gambling market will outperform other online stocks, so it’s well worth investing in.
Where to Invest Your Money in Gambling?
With the market being so diversified right now, it can be tough to find the right stocks. Experts believe that the land-based casino sector will make a huge splash this year and beyond. As casinos continue to recover, their stock will grow. It will help the online gambling space too as many land-based companies are also invested in the online sector.
Before you start investing, it would be good to check a few casino sites. An online casino guide will be able to provide information on the best ones on the market in 2021. Those are usually sites built by land-based establishments, with Caesars, Golden Nugget, and Hard Rock all having an online casino or a mobile app. Of course, you should check if they’re available in your state just in case. You don’t want to be caught in a legal whirlwind just to check out a few casino sites.
In any case, it would be wise to keep an eye on stocks in this booming market. Things in the online gambling industry are changing fast, and so is the value of stocks. Make sure to read news on possible market arrivals and check the stock market. As soon as you see positive developments, it might be worth investing a bit of your money in these stocks.