ON AUGUST 3RD, the DraftKings stock price closed at $16.82, down significantly from its 52-week high of $64.58. People are gambling on sports, but the companies aren¡¯t benefiting ¡ª at least, not on Wall Street. So what gives?
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Sports betting has become one of the most popular forms of gambling in recent years, with millions of people around the world wagering on the outcome of their favorite sporting events.
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When you engage in sports gambling, the aim is to forecast what team or individual will win in a sporting occurrence. You will gamble money on what you think will be the result. When you are correct, you gain money; if you are wrong, you will lose the money you used to gamble. This is the typical policy of sports gambling.
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