NetworkNewsWire Editorial Coverage: A recent change in United States law has led to a gold rush in the gaming industry as numerous companies scramble to set up sports gambling operations.
- The U.S. Supreme Court’s overruling of 1992 gambling legislation essentially makes sports betting widely legal throughout the country.
- Casinos are moving to make the most of this by opening sports books.
- Technology companies are also exploring possible revenue avenues through online gambling apps.
- The United States is set to see a $3–$5 billion take in the global sports betting market within a few years — a market already worth an estimated $40 billion.
One of the new players in the sports gambling space is SinglePoint, Inc. (OTCQB: SING) (SING Profile), a tech company focused on innovation that has invested in gambling app StakeHaul. In the world of big gambling, casino companies such as Caesars Entertainment Corp. (NASDAQ: CZR) are exploring ways to add sports gambling to their existing entertainment rosters. MGM Resorts International (NYSE: MGM) already provides sports gaming alongside traditional betting options. Following suit, Penn National Gaming, Inc. (NASDAQ: PENN) has started offering sports betting at some of its…
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