Amaya Gaming Group Inc. is an online gaming company in Canada that has recently had huge gains in the online gaming industry. They may soon have another Canadian competitor in online gaming. Usually in the past if you wanted to bet on sports games, you may go to a bookie, especially if you are outside of areas that can legally accept game bets. TheScore Inc. has decided that they want to revolutionize the online gaming industry by partnering with other online gaming companies, to channel more of its user base towards its particular type of gaming platform.
TheScore Inc. has an idea of having a “bet now”, button when placing sporting bets, which is similar to the “buy now” button that Twitter and Facebook have announced that they plan to add to their apps. Beacon Securities Analyst, Vahan Ajamian, estimates that if the US changes and becomes overwhelmingly in favor of online gambling, they could rake in as much as $50 million annually in profits. Mr. Ajamian stated that they see value in their company shares, just by looking at their current advertising business. He anticipates a $.65 price tag on the stock, as well as maintaining a buy rating.
Mr. Ajamian noted that they see sports gambling as being very lucrative, and as a free call option for any investor. He also states that they are already in discussions with other potential partners about achieving this goal of online sports gaming. Mr. Ajamian made note of it that illegal sports gambling in the USA was estimated to be as high as $500 billion, which makes it a market that could actually be 10 times higher than the market for online poker. By legalizing this industry, especially in the USA, it would legitimize sports betting, as well as bring in a incredible revenues for all parties involved.
Mr. Ajamian believes that people are starting to be in favor of sports betting and to back his argument, he brought up the fact that the NBA commissioner Adam Silver, had reversed his long stance that he had against legalized betting or wagering on games. Mr. Ajamian also stated that due to governments weak budgets, it makes these type of illegal gambling inevitable and unlikely to stop, unless legalized. This will possibly make the NBA to look into making profits off of it. Another argument Mr. Ajamian gives to support online game betting, is New Jersey’s change to now allow casinos and race tracks, the chance to offer sports pools, this is a first step showing a tolerance to change.
In Mr. Ajamian opinion, he feels that the USA is in a financially difficult state, low on options and running out quickly, and they need to make a decision to consider legalizing this type of gambling. Mr. Ajamian stated that not because the NBA has changed its mind on gambling, does not mean that other industries will follow, but the fact that Adam Silver did reverse his decision, means that he may believe that big changes are coming