The sports betting market might grow by 70% this year
Online casinos are on their way to recovery after a harsh 2020.

Casino, gambling and sports betting stocks had a wild ride in 2020 with the COVID-19 pandemic and the cancellation of major sports seasons and events. Bank of America analyst Shaun Kelley shared his thoughts on the entire sector with an outlook for 2021 titled "From shorts to sports." The key story for sports betting in 2021 could be the additional states that have allowed sports betting, increasing the addressable market. "Sports betting / iGaming could grow + 70% in 2021," said Kelley. The sports calendar could be a big topic again in 2021. The postponement of sporting events into the second half of 2020 could create some tough competitions in mature markets like New Jersey, Pennsylvania, and Indiana. States like Michigan and Virginia are expected to introduce sports betting in early 2021. States like New York, Ohio, Massachusetts, Maine, Georgia, and Connecticut are also watching for potential legalization. By the end of 2021, Kelley predicts that 27 states will have legal sports betting, representing 49% of the US population. A total of 24% of the US adult population could enter the sports betting market in 2021 and 2022, up from 10% in 2018 and 23% in 2019 and 2020.





