In this episode of Industry Focus: Wildcard, Nick Sciple chats with Motley Fool contributor Luis Sanchez about the current state of the online gambling marketplace in the U.S. Online gambling has been around for decades globally. Learn about some of the local and international players, their operations, and how they are developing and using their expertise to gain an upper hand in this space. The guys also share some online gambling stocks to put on your watch list and much more.
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This video was recorded on June 24, 2020.
Nick Sciple: Welcome to Industry Focus. I’m Nick Sciple, today I’m joined by Motley Fool contributor Luis Sanchez who’s here to help me break down the current state of the online gaming industry. Luis, welcome back on the podcast.
Luis Sanchez: Happy to be back.
Sciple: Great to have you on, Luis. I know this is an area in the market that you’ve really been focused on, particularly over the past month. I know a lot of people, particularly in the U.S., have gotten more interested in online gambling since the Supreme Court lifted federal restrictions on online gambling back in 2018. But it’s important to note, this is a global industry that’s been around for decades. When you look at the online gaming industry today, how big is it?
Sanchez: Yeah. So globally, I’ve seen stats that put it at about $450 billion.
Sciple: Yeah. So a $450 billion market. And outside of the U.S., where are the big markets we should be paying attention to? What’s the nature of this industry?
Sanchez: Yeah, the most developed market is Europe. I believe the U.K. is probably the best regulated online. Well, gambling is legal across Italy, Spain, the U.K. There’s actually also some weird gray markets in Europe, like I think Germany is technically not legal but the companies still operate there and they pay their taxes, which is interesting. Australia is actually another really big gambling market. And then, you know, really, it’s a very global industry. In Asia, there’s a few places that are legal, there’s a few…