Is sports betting legal in the UK? What are the top sports betting stocks?

Summary

• Sports betting in the UK is regulated under the Gambling Act 2005, ensuring fair and transparent laws for everyone in the betting industry.
• Amid the EURO Championship, the sports betting companies expect high volume bets from the UK and other European countries.

Betting for centuries has been a main recreational activity in Britain. Horse racing was initially the favourite theme in the early centuries; thus, the UK has long history and culture of sports betting. In recent times, online betting has seen huge popularity, and the number of people increased substantially, using mobile and tablets to place bets. The betting industry contributes a substantial amount in taxes and employing thousands of people in the UK. Therefore, the sports betting industry of the UK has the most developed laws across the world for the gaming community.

Way back, the land-based UK sports betting operations were legalised by the Betting and Gaming Act of 1960. Sports betting in the UK is regulated under the Gambling Act 2005. The act restricts the individual under 18 from betting activities and ensures that the gambling operations treat everyone fairly and transparent way. With the ongoing EURO Championship, the sports betting companies are witnessing high volume bets from the UK and other European countries.

Let us explore some of the sports betting stocks:

Entain Plc (LON: ENT)

FTSE 100 listed, Entain Plc is one of the largest players in the sports betting and gaming industry. The company had portfolio of sports brands like Eurobet, bwin, Crystalbet, Sportingbet and gaming brands like casinoclub, partypoker, partycasino. The company operates both online and in the retail sector and has a joint venture with MGM Resorts to share its technology platform.

Entain Plc expected over 3 million people to place a bet during the ongoing delayed EURO 2020 championship. The company informed that in initial trends, over 50% of bets were coming from the UK customers, and there was increased betting trends from smaller European countries.

The company has recently made a takeover bid of A$3.5 billion to acquire Australia’s largest gambling company Tabcorp Holdings Limited, but the bid got rejected, and instead Tabcorp Ltd. decided to spin-off its business. Entain Plc already holds various brands, including the Ladbrokes, Neds, Betstar and Bookmaker brands in Australia, and a successful takeover bid of Tabcorp Holdings could have helped the company strengthen its positions in the Australian market.

Share of Entain Plc trades at GBX 1834, down by 1.87% on 7 July at 9:12 am GMT+1 with a market cap of £10.9 billion.

Flutter Entertainment Plc (LON: FLTR)

The company operates as a sports betting and gaming company and owns international brands including FanDuel, TVG, Betfair in the US, PPB Retail, SportsBet in Australia.

The company had planned to list its US market assets, FanDuel, but the potential listing got delayed after its Chief Executive Officer, Matt King, quit the company recently. Also, the company said it is still reviewing the potential listing options and will list the company once the new full-time CEO is appointed.

The company reported £1,485 million in revenue in the quarterly results for the period ended 31 March 2021 and with online revenue growth of 42% and 36% growth in average monthly players’.

Share of Flutter Entertainment Plc trades at GBX 13435, down by 1.43% on 7 July at 9:15 am GMT+1 with a market cap of £23.56 billion.

Gamesys Group Plc (LON:GYS)

London based company operates online casino and bingo brands in the United Kingdom, Asia and Europe.

Recently the takeover offer for the Gamesys Group was approved by the court and the company shareholders. US casino group Bally's Corp. had offered 1,850 pence per share in cash for the London-based gambling company as part of a takeover bid.

Share of Gamesys Group Plc trades at GBX 1,853, down by 0.11% on 7 July at 8:52 am GMT+1 with a market cap of £2.03 billion.