GLOBAL INVESTOR
JEAN PIERRE VERSTER: Place your bets
We like to think that investing isn’t betting, but when it comes to buying into companies that live and die by the tote, here are a few options
Online sports betting (OSB) is becoming increasingly popular worldwide, driven by the ease of making a wager on your phone. Yet until recently in the US, for example, the only state where you could legally bet on sports at all was Nevada.
Then in 2018 a federal ban on sports betting was declared unconstitutional, sparking a wave of states legalising sports betting within their borders (and thereby collecting generous taxes). Today, sports betting is legal in 37 of the 50 US states (it is still illegal to bet across state lines), and there is vigorous competition to win over punters in this burgeoning $100bn-plus market. Let’s take a closer look at the major players: ..
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