{"id":367,"date":"2021-06-19T19:30:24","date_gmt":"2021-06-19T16:30:24","guid":{"rendered":"https:\/\/xxbet-company.com\/us-sports-betting-handle-doubles-from-pre-pandemic-levels-says-canaccord-genuity\/"},"modified":"2021-06-19T19:30:24","modified_gmt":"2021-06-19T16:30:24","slug":"us-sports-betting-handle-doubles-from-pre-pandemic-levels-says-canaccord-genuity","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/de\/us-sports-betting-handle-doubles-from-pre-pandemic-levels-says-canaccord-genuity\/","title":{"rendered":"US Sports Betting Handle Doubles from Pre-Pandemic Levels, Says Canaccord Genuity"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Inhaltsverzeichnis<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/de\/us-sports-betting-handle-doubles-from-pre-pandemic-levels-says-canaccord-genuity\/#Ebullience_Builds_for_iGaming\" title=\"Ebullience Builds for iGaming\">Ebullience Builds for iGaming<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/de\/us-sports-betting-handle-doubles-from-pre-pandemic-levels-says-canaccord-genuity\/#Operator_Outlook\" title=\"Operator Outlook\">Operator Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<p>Aided by more states joining the live and legal party, the US sports betting handle more than doubled from the levels seen prior to the coronavirus pandemic, according to Canaccord Genuity.<\/p>\n<figure aria-describedby=\"caption-attachment-176639\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" class=\"wp-image-176639 lazyload\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-142x105.jpg?x38396\" data-src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-142x105.jpg?x38396\" alt=\"sports betting\" width=\"1200\" height=\"889\" data-srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-142x105.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1024x759.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-768x569.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook.jpg 1047w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" data- title=\"\"><img loading=\"lazy\" class=\"wp-image-176639\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-142x105.jpg?x38396\" alt=\"sports betting\" width=\"1200\" height=\"889\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-142x105.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-1024x759.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook-768x569.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/06\/sportsbook.jpg 1047w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" title=\"\"><figcaption class=\"text-description\">Bettors at the Mirage sportsbook in Las Vegas, pictured above. A research firm says the US sports betting handle doubled. (Image: <em>Rapid City Journal<\/em>)<\/figcaption><\/figure>\n<p>Today, there are 21 states and Washington DC where sports betting is legal. Recent launches in Michigan <a href=\"https:\/\/www.casino.org\/news\/rush-street-first-virginia-casino-developer-to-launch-sports-betting\/\" rel=\"nofollow noopener\" target=\"_blank\">and Virginia<\/a>, among others, are driving legalization momentum in the first half of 2021. That strength could continue in the back half of the year as more states enter the regulated sports wagering arena.<\/p>\n<blockquote class=\"main-blockquote\">\n<p>Six states representing an additional 13 percent of the US population have legalized online sports betting this year, but have not yet launched, with Arizona, Maryland, Louisiana, and Wyoming all hoping to launch in time for the start of football season,\u201d write Canaccord analysts Michael Graham and Maria Ripps.\u201d<\/p>\n<\/blockquote>\n<p>The analysts add that <a href=\"https:\/\/www.casino.org\/news\/connecticut-legislature-approves-igaming-sports-betting-bill\/\" rel=\"nofollow noopener\" target=\"_blank\">Connecticut and New York<\/a> signed off on mobile sports betting and are aiming to have it up and running in advance of the next Super Bowl. For operators, New York is a potential coup because it\u2019s the fourth-largest state.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ebullience_Builds_for_iGaming\"><\/span>Ebullience Builds for iGaming<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While sports wagering is permitted in more states and commands most of the headlines, internet casinos are on the rise, too. Currently allowed in just five states representing 11 percent of the population, iGaming revenue more than tripled from levels seen before the pandemic, say the Canaccord analysts.<\/p>\n<div class=\"callout\">\n<p>That growth trajectory jibes with what some industry executives are saying about online casinos. While current legalization is limited relative to online sports betting, gaming insiders view internet casinos as <a href=\"https:\/\/www.casino.org\/news\/mgm-ceo-bill-hornbuckle-positive-on-vegas-rebound\/\" rel=\"nofollow noopener\" target=\"_blank\">a premier long-term growth driver<\/a> for the industry. It is seen as one that will lead to superior margins and higher profitability than sports wagering.<\/p>\n<\/div>\n<p>\u201cTotal US iGaming revenue has steadily increased over the past year, and saw a notable uptick following the recent launch in Michigan, setting a new record of $309 million in March,\u201d notes the Canaccord analysts.<\/p>\n<p>Graham and Ripps forecast that Connecticut will be the sixth state to join the online casino roster, doing so at some point this year. They say FanDuel and DraftKings (NASDAQ:DKNG) have impressive market share in some states, while BetMGM holds dominant positioning in others.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Operator_Outlook\"><\/span>Operator Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Canaccord is bullish on operators <a href=\"https:\/\/www.casino.org\/news\/draftkings-stock-supported-after-being-blasted-by-hindenburg-report\/\" rel=\"nofollow noopener\" target=\"_blank\">including DraftKings<\/a> and Score Media &#038; Gaming (NASDAQ:SCR), the latter of which has a US footprint but is highly levered to single-game betting coming to life in its home country of Canada.<\/p>\n<p>\u201cRecent legalization progress increases our confidence that DraftKings\u2019 current FY21 outlook is conservative, particularly given that guidance does not include any contribution from states the company does not currently operate in,\u201d said the Canaccord analysts.<\/p>\n<p>If Arizona, Maryland, Louisiana, and Wyoming come online before football season, there\u2019s a runway for upward revisions on DraftKings, Graham, and Ripps note.<\/p>\n<p><strong>Canaccord has an $80 price target on the name, implying upside of more than 60 percent from current levels.<\/strong><\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/analysts-say-us-sports-betting-handle-doubled-from-pre-covid-levels\/\" target=\"_blank\">US Sports Betting Handle Doubles from Pre-Pandemic Levels, Says Canaccord Genuity<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Aided by more states joining the live and legal party, the US sports betting handle more than doubled from the levels seen prior to the coronavirus pandemic, according to Canaccord Genuity. Bettors at the Mirage sportsbook in Las Vegas, pictured above. A research firm says the US sports betting handle doubled. (Image: Rapid City Journal) <a href=\"https:\/\/xxbet-company.com\/de\/us-sports-betting-handle-doubles-from-pre-pandemic-levels-says-canaccord-genuity\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/367"}],"collection":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/comments?post=367"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/posts\/367\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media\/368"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/media?parent=367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/categories?post=367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/de\/wp-json\/wp\/v2\/tags?post=367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}