America's addiction to gambling

I bought DraftKings stock shortly after the company was acquired through a SPAC. It was an odd time for an online sports betting website to go gambling because well, it was in the middle of a global pandemic and sports were largely shut down. It didn’t matter for me however and I still bought in early.

It doesn’t take long to see that Americans are addicted to gambling, specifically sports gambling. Barstool and their partnership with online sportsbook Penn Gaming has been seemingly a perfect marriage matching self-proclaimed “degenerate sports gamblers” to an online sports book.

I have friends who love sports that gamble as a way to make it more fun. I have friends who don’t love watching sports that watch sports so they can gamble. I personally don’t dabble in sports betting, but I can see the appeal.

Sports are making a comeback for the most part, albeit without any fans in the stadium. It’s no surprise to see $DKNG up almost 50% over the past month. As states continue to legalize online gambling to get a piece of that tax revenue and sports continue to come back in full force, I expect the online gambling sites such as DraftKings to continue to grow fast.