Should you buy shares inward GAN now? (Stock Analysis) (US Online Gambling stocks)
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Online gambling is a growing & addictive manufacture for many. From Online Casino games, to poker and 50-50 Bingo!
all the same, Despite everything being online these days…the bulk of ground Based Casinos inward the US still don’t take hold a real online gambling experience!
Currently only 12 states offer Legal Online Gambling.
With only 3 states, offering legal online casino gambling these include
New Jersey which is currently the largest market for regulated online gambling inward the US.
It has Over a dozen legal and licensed online casino sites and poker rooms compete for an overall market that is worth more than $225 million a year.
Then there is Delaware which was the firstly state to launch online sports betting post-PASPA and was one of the firstly to launch online gambling and poker.
Recently inward 2019, Pennsylvania
• launched Online sports betting inward May 2019
• Online casinos became legal inward July 2019
• And Online poker launched inward November 2019
Many of PA’s major casinos take hold rolled out online casino sites.
Players take hold the option of placing bets inward person or online via the website and mobile app.
The online gambling market inward the Worldwide was worth $53.7 billion inward 2019 and is expected to grow at a compounded annual growth rate of 11.5% from 2020 to 2027.
GAN is the backend software which powers many of these online gambling and sports betting apps. Such as Fan Duel.
As a software as a service business, most of the costs are upfront but then as the customers grow the businesses cost’s don’t grow at the same rate!
These type of businesses with recurring revenue models are extremely powerful.