A Friendlier Legal Infrastructure is Accelerating the Growth of Online Gambling

FinancialBuzz.com News Commentary

NEW YORK, April 5, 2021 /PRNewswire/ -- The online gambling industry has seen steady growth in its popularity for several years. However, the pandemic and its consequences have pushed the demand even further. Two major segments of the online gambling industry are online gaming (i-gaming) and sports betting. Both have proved to be pandemic proof segments. The sports betting segment in particular has benefited from a continuously improving and friendlier legal infrastructure. As a result of the evident spike in demand, Morgan Stanley reported that it now projects that the domestic sports betting industry will reach revenues of about USD 7 Billion by 2025, a major increase from the USD 5 Billion projected in June 2018 and reiterated last December, Casino.org reports. Trident Acquisitions Corp. (NASDAQ: TDAC), DraftKings Inc. (NASDAQ: DKNG), Roundhill Sports Betting & iGaming ETF (NYSE: BETZ), fuboTV Inc. (NYSE: FUBO), Skillz Inc. (NYSE: SKLZ)

As the legal infrastructure becomes more and more friendly towards sports betting across the country, announcements regarding investments in this sector have accelerated. For example, earlier in October, WynnBET, the digital gaming division of Wynn Resorts Ltd. that is responsible for Wynn's mobile sportsbook and casino app, announced a multi-year national sports betting partnership. As an Authorized Gaming Operator of NASCAR, WynnBET will collaborate with NASCAR to create and promote engaging sports betting experiences for racing fans across the United States.

Trident Acquisitions Corp. (NASDAQ: TDAC) and Lottery.com, which entered into a definitive agreement with Trident Acquisitions Corp. on February 22, 2021, announced breaking news last week that, "Katie Lever has been appointed the Company's first chief legal officer, who will be further supported by gaming compliance experts on the board of advisors, Mark Lipparelli and Ron Hopkinson. The Company is seeking to continue its expansion efforts and will leverage the combined legal and compliance expertise of these industry professionals to build the future of digital gaming.