Online Betting Gaming
Sports betting handle has exceeded expectations in recent months, highlighted by New York reporting a whopping $2 billion in sports bets in its first 30 days.
While the internet has disrupted everything from purchasing a car to buying health insurance, antiquated laws have largely shielded the $44 billion US-based gambling industry from the digital revolution.
As more states race to legalize online gambling, some advocates are raising concerns that it could lead to increased rates of unhealthy gambling.
As Uber & Lyft disrupted transportation and Amazon & Alibaba disrupted commerce, FinTechs tried doing the same to the financial services industry, but one major disadvantage: the traditional players had something special, and that it turned out that it is indeed a strong moat – the banking license.
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