The Supreme Court created a $1 trillion opportunity on May 14, 2018, when it repealed the Professional and Amateur Sports Protection Act of 1992 (PASPA) and allowed states outside of Nevada to accept wagers on sporting events.
The first couple years of this young trend haven’t been smooth, and while we don’t have to like it, we do have to remember that is par for the course. It is common for brand-new industries to run into regulatory and business hurdles during the first few years.
The good news is that 13 states now offer legal sports gambling. And plenty more are on the way. Over the next few years, I expect most states will legalize some form of sports gambling to keep up with their neighbors. When all is said and done, the industry could be worth over $100 billion. And that’s not even a stretch.
In short, this is definitely the type of investment theme we want to be invested in.