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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In February, according to Twitter, the top hashtag included in sports betting tweets about the Super Bowl between the Los Angeles Rams and Cincinnati Bengals wasn't #ramsnation or #whodey -- it was #GamblingTwitter.
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Until recently, every generation has grown up with some form of delayed gratification as it pertains to placing legal bets. Now, depending on where you live, you can bet on a game quicker than you can cross the room to get a glass of water.
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