In the last two years the US has started on a path to legalising online gambling.
As is usual in the stock market there was initial euphoria, talk of a $300bn market, and bidding up of European gambling shares.
The reality of course is more nuanced – yes the opportunity is big but there are substantial hurdles to overcome and strong competition from well funded US Casinos and Media companies.
There is a good recent Freakonomics episode on US sports gambling.
With European gambling company shares since languishing (partly due to other reasons like increased regulation in the UK) and US legalisation progressing – perhaps it is time to take another look?
Hype cycles do eventually come good. A classic chart.
