US Sports Betting & iGaming: Reasons Morgan Stanley are Confident on Legalization in 2021

US Sports Betting & iGaming: Reasons Morgan Stanley are Confident on  Legalization in 2021

We expect 12 states to legalize sports betting in ’21, NY to legalize OSB, 2-3 states to legalize iGaming, & Ontario to legalize both. With legislative session dates largely set, this will mostly happen in 1H21. Almost all states are proposing <20% tax rates, countering the tax rate bear thesis.

As we outlined in our recent Outlook, we expect a lot of states to legalize sports betting and iGaming in 2021, driving stocks like DKNG higher.

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