Dave Portnoy Says the Day-Trading Revolution Will Slow down Once Sports Return and People Go Back to Work, but Gambling Analysts Aren't So Sure
As casinos begin to open up this month, Dave Portnoy, the founder of Barstool Sports said he is eager to flock back to the sports betting industry, but market players don't think he will be returning to the same industry that he left before COVID-19 kicked-off.
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Dennis Ehling, business litigation partner at Blank Rome, said: "I would certainly expect some punters to remain active in the stock markets, if only because the stock markets offer different opportunities for big gains (and big losses) than what is available in the typical sports betting markets."
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Ehling said: "One thing that has clearly happened as a result of the pandemic is that, in the US, regulators have realized that, even if there are events to bet on, sports betting stagnates if punters need to visit their local bricks-and-mortar casino to sign-up (or, worse yet, to effectively fund their accounts). "
He added: "One lasting change I think we will see is efforts to make it easier for punters to do both of those things, couched as well with an understanding that increased access means increased chances for a number of people to experience problem gambling."
"Dave Portnoy Says the Day-Trading Revolution Will Slow down Once Sports Return and People Go Back to Work, but Gambling Analysts Aren't So Sure," by Saloni Sardanawas published in Business Insider on June 27, 2020.