Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why You Should Avoid Online Gambling Stocks Like the Plague

TheMotleyFool

0 0

Why You Should Avoid Online Gambling Stocks Like the Plague: https://g.foolcdn.com/editorial/images/697113/person-betting-on-sports-online.jpg

Shares of online gambling stocks were all the rage in 2020 and 2021 as sports betting spread across the U.S. and growth seemed to be unstoppable. DraftKings (NASDAQ: DKNG) and Rush Street Interactive (NYSE: RSI) went public with much fanfare, and companies like Penn National (NASDAQ: PENN) surged on online gambling speculation as well.

But online sports betting and iGaming have been much harder to make money at than investors thought. Looking back, this wasn't a very good business to invest in and there are some things we can learn from these poor-performing stocks.