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Super Bowl LV will be a bonanza for gambling companies


Super Bowl LV will be a bonanza for gambling companies
The Kansas City Chiefs or Tampa Bay Buccaneers? We don’t know who will win Super Bowl LV. But the big sports betting and fantasy firms are already champs.
DraftKings shares have surged nearly 35% this year ahead of Sunday’s big game in Tampa. The stock is up nearly 260% since it went public last April following a merger with a “blank check” special purpose acquisition company, or SPAC.
This is the third Super Bowl since the Supreme Court legalized sports betting at the state level in 2018. Several states have since approved measures allowing bets to be placed at physical locations (known as sportsbooks) as well as through online wagering. That means 2021 could be the best year yet for the gambling giants. ....

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