Through its subsidiary VegasWinners, Winners, Inc. (OTC:WNRS) provides sports betting enthusiasts with gambling data, advice, analysis, and predictions to help them place profitable bets. The sports betting industry has been booming ever since the federal law banning sports betting was removed. Now, with over 30 states legalizing sports betting and others currently voting on that matter, WNRS stock could be one of the gambling stocks to watch this quarter. Especially since sports betting could be legalized in California this year as well WNRS stock could be one of the best gambling stocks in 2022.
WNRS Stock Catalysts
With the ongoing wave of states legalizing sports betting, the sports betting industry has grown substantially reaching $71 billion in 2021. Since online sports betting has made sports betting more available to users, it represented 50% of the industry’s revenues for 2020. Considered to be the fastest growing segment of the industry, online sports betting is expected to continue its rapid growth in the future to reach $140 billion by 2028.
A study by Morning Consult found that 18% of US adults aged 21 and older bet on sports last December. This percentage indicates an 80% increase from a January study that found only 10% bet on sports at least once a month. At the same time, weekly bettors more than doubled in the same period – increasing from 5% to 12%. Considering that sports betting companies spent $1.2 billion marketing their services in the US, many new bettors will likely became a part of this industry. As interest in sports betting continues to rise, gambling stocks like WNRS stock could witness significant growth this year.
Taking this into consideration, WNRS is well-positioned to capitalize on this growing market given its services. As more and more bettors look for tools to increase their chances, these bettors may turn to WNRS’ handicappers which have a strong track record of providing correct predictions.
On that note, sports betting companies are already anticipating California’s vote to legalize sports betting in November. As the US’ biggest market, legalizing sports betting in California is expected to generate over $3 billion in revenues annually for this industry.
As the company provides data and predictions for all major sports in the US, WNRS is catering to a massive base of sports enthusiasts. Football is responsible for almost half of all sports bets in the US and the Super Bowl is undoubtedly the most popular sports betting event each year. For this reason, WNRS plans launch more Google ad campaigns across the nation by the beginning of the NFL season.
It is also worth mentioning that 26 million people placed bets on the 2020 Super Bowl – with 5 million betting through their phones or other online platforms. Based on this, gambling stocks like WNRS are becoming more and more attractive to investors due to the profitability of this industry.
Media Sentiment
Investors like @SpaceManTrades are predicting that WNRS could break through its resistance on this higher volume
Technical Analysis
Currently trading at $.0132, WNRS stock shows a main support at .0010 and a resistance at .015 with a secondary resistance near .0188. Accumulation has taken a hit following its offering and the MACD is bearish. The RSI is at 48.
After approaching its resistance, the stock has dipped but could regain momentum after announcing that it has received approval as a registered sports wagering service provider from the Pennsylvania Gaming Control Board Bureau of Licensing as well as its approval to run sports betting campaigns in New Jersey through Google ads.
WNRS Stock Forecast
Given that states are legalizing sports betting to realize revenues from this $71 billion industry, gambling stocks like WNRS provide an opportunity for investors bullish on this industry’s potential. According to studies, sports betting’s popularity is rapidly rising because online betting allows more people to place bets with ease. With the California vote on sports betting approaching, gambling stocks could soar if sports betting becomes legal in the state. Considering the company’s handicappers’ successful predictions, WNRS could be one of the gambling stocks to keep an eye on in 2022.
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