{"id":156905,"date":"2020-11-30T07:40:45","date_gmt":"2020-11-30T15:40:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=156905"},"modified":"2020-11-30T09:22:30","modified_gmt":"2020-11-30T17:22:30","slug":"draftkings-seen-winning-as-canada-embraces-single-game-betting","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/","title":{"rendered":"DraftKings Is Royal Idea as Canada Embraces Conventional Sports Wagering"},"content":{"rendered":"

DraftKings (NASDAQ:DKNG) is a gaming equity for investors to consider, as Canadian policymakers mull legislation that will allow betting on individual sporting events, according to one analyst.<\/p>\n

\"DraftKings
Canadians could soon be able to bet on single games of their beloved Toronto Raptors. That could be a boon for DraftKings, says an analyst. (Image: Complex)<\/figcaption><\/figure>\n

On Monday, Credit Suisse analyst Benjamin Chaiken highlighted the stock as a play based on recently introduced bills in Canada that pave the way for single-game betting. Those proposals, one of which was filed last Thursday<\/a>, enjoy bipartisan support.<\/p>\n

We think the Ontario opportunity is underappreciated (not in the \u201921 guide or our estimates) and it sounds like there could be future momentum in other provinces as well,\u201d said Chaiken in a note to clients.<\/p><\/blockquote>\n

Home to the capital of Ottawa and Toronto — Canada’s largest city — Ontario is the biggest Canadian province by population, with 14.57 million residents. That’s a hefty percentage of the country’s total population of 37.59 million. Four professional teams that play in US-based leagues also reside in Ontario — the NHL’s Maple Leafs and Senators, the NBA’s Raptors, and and Major League Baseball’s (MLB) Blue Jays.<\/p>\n

Not Accounted for in Current Estimates<\/h2>\n

For years, Canadian sports bettors have been able to wager on parlays, but not single games. Provincial lotteries oversee the current offering, which generated $500 million for those governments. But that’s a meager percentage of what gamblers in the Great White North are sending offshore in order to gain access to a fuller menu of wagering options.<\/p>\n

\n

With the idea of Canada permitting single-game wagering being a recent phenomenon, Credit Suisse’s Chaiken says the potential upside from the proposals being signed into law isn’t baked into DraftKings stock. The analyst has an \u201coutperform\u201d rating and a $76 price forecast<\/a> on the name, implying upside of 44.34 percent from last Friday’s close.<\/p>\n<\/div>\n

\u201cAssuming full legalization in Canada, we think this could be a $4 billion revenue opportunity, none of which is in our estimates or street expectation,\u201d writes Chaiken.<\/p>\n

Under a proposal introduced by David Lametti, Minister of Justice and Attorney General of Canada, provinces and territories would have the ability to manage single-game wagering, granting gamblers avenues for placing bets in regulated land-based and online venues<\/strong>.<\/p>\n

Beyond DraftKings, analysts are highlighting other operators as potential winners in Canada<\/a>, including Flutter Entertainment (OTC:PDYPY), because that company’s FanDuel unit already has a daily fantasy spots (DFS) footprint in the country.<\/p>\n

Domestic Musings<\/h2>\n

Much of Wall Street’s enthusiasm<\/a> for DraftKings this year revolves around the thesis that more states will sign off on sports betting, and Election Day 2020 proves that’s happening.<\/p>\n

Massachusetts, Michigan, Ohio, Louisiana, Maryland, and Virginia are expected to join the live and legal sports wagering fray in 2021. Michiganders are currently allowed to bet at retail sportsbooks, with online and mobile wagering slated to start in 2021. Experts say the odds are 50\/50 that Ohio will pass sports betting legislation before the end of 2020.<\/p>\n

The Bay, Buckeye, and Great Lake States combine for almost 10 percent of the US population, representing lucrative opportunity for DraftKings and rival operators<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings (NASDAQ:DKNG) is a gaming equity for investors to consider, as Canadian policymakers mull legislation that will allow betting on individual sporting events, according to one analyst. On Monday, Credit Suisse analyst Benjamin Chaiken highlighted the stock as a play based on recently introduced bills in Canada that pave the way for single-game betting. Those […]<\/p>\n","protected":false},"author":46,"featured_media":156906,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\nDraftKings Seen Winning as Canada Embraces Single-Game Betting<\/title>\n<meta name=\"description\" content=\"DraftKings could get big lift if Canada approves wagering on individual sporting events, says Credit Suisse analyst Benjamin Chaiken.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DraftKings Seen Winning as Canada Embraces Single-Game Betting\" \/>\n<meta property=\"og:description\" content=\"DraftKings could get big lift if Canada approves wagering on individual sporting events, says Credit Suisse analyst Benjamin Chaiken.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-30T15:40:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-30T17:22:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"788\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/\",\"url\":\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/\",\"name\":\"DraftKings Seen Winning as Canada Embraces Single-Game Betting\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg\",\"datePublished\":\"2020-11-30T15:40:45+00:00\",\"dateModified\":\"2020-11-30T17:22:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"DraftKings could get big lift if Canada approves wagering on individual sporting events, says Credit Suisse analyst Benjamin Chaiken.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg\",\"width\":1400,\"height\":788,\"caption\":\"Canadians could soon be able to bet on single games of their beloved Toronto Raptors. That could be a boon for DraftKings, says an analyst. (Image: Complex)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"DraftKings Is Royal Idea as Canada Embraces Conventional Sports Wagering\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"DraftKings Seen Winning as Canada Embraces Single-Game Betting","description":"DraftKings could get big lift if Canada approves wagering on individual sporting events, says Credit Suisse analyst Benjamin Chaiken.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/","og_locale":"en_US","og_type":"article","og_title":"DraftKings Seen Winning as Canada Embraces Single-Game Betting","og_description":"DraftKings could get big lift if Canada approves wagering on individual sporting events, says Credit Suisse analyst Benjamin Chaiken.","og_url":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-11-30T15:40:45+00:00","article_modified_time":"2020-11-30T17:22:30+00:00","og_image":[{"width":1400,"height":788,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/","url":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/","name":"DraftKings Seen Winning as Canada Embraces Single-Game Betting","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg","datePublished":"2020-11-30T15:40:45+00:00","dateModified":"2020-11-30T17:22:30+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"DraftKings could get big lift if Canada approves wagering on individual sporting events, says Credit Suisse analyst Benjamin Chaiken.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/11\/raptors.jpg","width":1400,"height":788,"caption":"Canadians could soon be able to bet on single games of their beloved Toronto Raptors. That could be a boon for DraftKings, says an analyst. (Image: Complex)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/draftkings-seen-winning-as-canada-embraces-single-game-betting\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"DraftKings Is Royal Idea as Canada Embraces Conventional Sports Wagering"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/156905"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=156905"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/156905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/156906"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=156905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=156905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=156905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}