Should you buy shares in GAN now? (Stock Analysis) (US Online Gambling stocks)

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Online gambling is a growing & addictive industry for many. From Online Casino games, to poker and even Bingo!
However, Despite everything being online these days…the majority of Land Based Casinos in the US still don’t have a real online gambling experience!

Currently only 12 states offer Legal Online Gambling.
With only 3 states, offering legal online casino gambling these include

New Jersey which is currently the largest market for regulated online gambling in the US.
It has Over a dozen legal and licensed online casino sites and poker rooms compete for an overall market that is worth more than $225 million a year.

Then there is Delaware which was the first state to launch online sports betting post-PASPA and was one of the first to launch online gambling and poker.
Recently in 2019, Pennsylvania
• launched Online sports betting in May 2019
• Online casinos became legal in July 2019
• And Online poker launched in November 2019
Many of PA’s major casinos have rolled out online casino sites.
Players have the option of placing bets in person or online via the website and mobile app.

The online gambling market in the USA was worth $53.7 billion in 2019 and is expected to grow at a compounded annual growth rate of 11.5% from 2020 to 2027.

GAN is the backend software which powers many of these online gambling and sports betting apps. Such as Fan Duel.
As a software as a service business, most of the costs are upfront but then as the customers grow the businesses cost’s don’t grow at the same rate!
These type of businesses with recurring revenue models are extremely powerful.