Investors - Are You Going to Miss Out on the Gambling Phenomenon?
August 7, 2019 (Investorideas.com Newswire) With every passing day, the online gambling community is growing at unprecedented rates throughout the US, UK and other parts of the world. The effect of this growth is eventually going to create a financial windfall for any organization embedded in the gambling industry. We're not talking about small, consistent growth. Online gambling has been growing by double-digit percentages over the last 10 years with no end in sight. That's not something an astute investor is going to want to dismiss.
Before anyone broaches the subject, this isn't a matter of former land-based gamblers simply moving their gambling activities to the internet. The genesis of this amazing growth pattern has a whole lot to do with the inclusion of a whole new generation of recreational gamblers who now has access to play games of chance for real cash via the internet without the inconvenience of having to travel to a land-based gambling establishment. If investors want proof times are changing in the gambling industry, they can visit a gambling site like bet-wv.com and see what all the fuss is about.
The Rise of the Gambling Industry in America
For years, US gambling industry analysts have laid claim that more than $150 billion was being wagered illegally or offshore by US sports gamblers alone. That solitary figure has long been the target of gambling operators that have been pushing the federal government to release its ban on sports betting for US citizens.
The release of that ban took place in May of 2018 when the US Supreme Court indeed lifted the ban and remanded the sports gambling decision-making process to the state level. To date, 15 states have already passed the required legislation with 6 states already accepting legal sports wagers. Based on initial revenue figures from those six states, the aforementioned $150 billion number might be a tad on the low side.
As each state moves towards legalizing online gambling capabilities for sports gamblers and slot players, mobile device users will likely jump at the chance to incorporate online gambling into the sphere of their online entertainment activities. If there's any doubt about how much top gambling organizations like The Golden Nugget, Caesars International and MGM are frothing at its collective mouths for a chance to compete for this growing new customer base, those doubts can be set aside.
Double-digit percentage year-over-year growth is like the pot of gold at the end of the rainbow for investors. This is a unique opportunity for investors to look closely at the transformation of the gambling industry as a whole and try to figure out how it's going to reward said investors.
There's still a little work to be done in the US. It looks like as many as 25 states will pass sports and online gambling legislation by mid-2020. By all indications, all but 5 states seem headed in that direction within the next two years. The motivation for states to move is tax monies on gambling revenues. Using the old investment mantra, buy on the rumor and sell on the news. The rumors are out there.
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