Will the US Cash in for Online Gambling Stocks?

Dennis Rodman, a former NBA star has just gotten back from Ireland after visiting Paddy Power, opening up several debates about the globalization of online gambling.

This year, net revenue for Paddy Power has been up 22 percent compared to the last few years. Revenue for online gambling has been much more stable in the UK and Europe than it has been in the United States, but that may be changing as online gambling has been legalized in a handful of states.

Online gambling is pretty much fully established in Europe, but some are speculating that its largest firms, such as GVC and William Hill are likely to see profits dip as governments institute new laws and regulations for tax purposes. Paddy Power even may take a hit, as it has a lucrative partnership with Facebook.

However, it’s likely that the companies will move out of Europe and move into other markets that haven’t addressed the online gambling issue, or are at least lax on their laws and policies. Online gambling is expected to raise over $400 million for the state of New Jersey within its first year alone, a cash-cow that other states will find difficult to ignore, thus potentially sparking a new wave of legalities for online gambling.

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