Americans Bet Twice As Much On Sports Last Year As Amazon Earned, Anthony Pompliano Says

Industry

โดย Yahoo Finance·Read original

Summary · why it matters

Americans wagered twice as much money on sports gambling last year as Amazon generated in net income, according to investor Anthony Pompliano. Pompliano cited data from Charlie Bilello, chief market strategist at Creative Planning, who said Americans wagered more than $165 billion on sports last year. The industry has expanded rapidly since the U.S. Supreme Court struck down the federal ban on sports betting in 2018. Despite the growth, shares of DraftKings have fallen 27.93% year to date and 40.08% over the past year, while Flutter Entertainment has declined 52.27% and 63.54%, respectively. The Roundhill Sports Betting & iGaming ETF, which holds companies including Flutter, DraftKings and MGM Resorts, has declined 20.93% over the past year.