Many financial experts say the surge in online gambling last year is an anomaly caused by Covid. Not only Goldman Sachs . The investment bank bets on online casinos and sports betting as a long-term game for its investors. They recently released a guide that US online gambling growth predicted for more than a decade .
Main news
- Goldman Sachs releases positive recommendations for online gambling .
- The investment bank sees that legislative changes stimulate growth .
- Goldman lists four iGaming, betting companies .
Expected Growth in Online Gambling
Goldman Sachs bets on online gambling. The investment bank published positive statements about the future of the industry in a note to clients:
We expect the combination of favorable legislation and consumer acceptance to drive the growth of online sports betting and internet gambling (i-Gaming) from $900 million / $1.5 billion in markets today to $39 billion / $14 billion in 2033 year, which corresponds to 40 percent / 27 percent. CAGR for over a decade.
Goldman Sachs
This is Wall Street talking about "business is booming." And why wouldn't Goldman gamble online? It has been a popular pastime for a long time. Since betting has gone online, their income has been steadily increasing. Countries like the UK have made all forms of betting legal and regulated. The US is catching up with laws and regulations.
U.S. Regulated Online Gambling Markets
US catches on to cyber betting trend . Since Delaware legalized online betting in 2018, more states have adjusted their laws to accommodate online gamblers who have traveled international waters for fun.
Now in 15 states have sites dedicated to gambling, in addition to dozens of others that allow you to bet on horse races. Five of these states have online casinos, and more are on the way.
Most experts expect the online gambling industry to continue to grow in the next few years. Finance Monthly predicts that by 2025 the global industry, which is now worth about $53 billion, will will be valued at $90 billion.
Companies that Goldman is betting on
Many companies associated with the online casino and sports gambling industry are publicly traded in both US and overseas markets. Goldman focused on these four for investors:
DraftKings
Company relatively new to the market, but not for fantasy sports fans . DraftKing's expansion from fantasy sports to sports betting and online casinos has caught the attention of investors.
While the company has yet to turn a profit, Goldman loves it for its sustainable market leadership and presence in states where there are few other competitors.
Caesars Entertainment
Caesars Entertainment is a well-known land-based resort and casino business that is slowly moving online as more states change their gambling laws.
Goldman loves this variety and justifies the recommendation based on its growth forecast for online casinos and sports games.
Rush Street Interactive
Relatively unknown to anyone but insiders, Rush Street Interactive is iGaming company with casino and operations for sports betting in nine states and Latin America.
Her significant contributions to online casinos and sports betting both domestically and internationally have drawn the attention of Goldman.
Penn National Gaming
Like the DraftKings, Penn selected by Goldman because it has become the market leader in sports betting .
Barstool Sportsbook Penn National launched in Michigan and Virginia in January. They hope to get more positions when and if New York, Florida and Texas pass the expected legislation.
The Future of iGaming and Sports Betting
Since the first casino went online over two decades ago, the online gambling industry has shown popularity and growth potential. Now that more states see the chance for much-needed extra revenue, US market opens and expectations look even more encouraging . Goldman Sachs confidence is just the latest indicator.
NOTE. We at OUSC are not financial experts and past inventory performance does not guarantee future performance. Therefore, you act strictly in accordance with this information at your own risk. We recommend that you consult with your broker or financial advisor before investing.
The Goldman Sachs Predicts Surge message on the iGaming Sports market first appeared in US online casinos.
Source: onlineunitedstatescasinos.com
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