Sports’ betting is a sector that has generated considerable interest among investors in recent times and for good reason too. One of the companies that you could look into today is Winners Inc (OTCMKTS:WNRS), which saw its stock go one a strong run yesterday and end the day with gains of 2%.
Yesterday, the stock was in the news after it made a major announcement with regards to its subsidiary company VegasWINNERS Inc. The company announced yesterday that VegasWINNERS it got the c coveted approval as a sports wagering vendor from the Tennessee Education Lottery Corporation.
That is a major milestone for the company considering the fact that VegasWINNERS will now be able to refer customers in the state of Tennessee to licensed sports bookmakers. In exchange, VegasWINNERS is going to earn a commission.
Back in April 2019, Tennessee had legalised online only sports betting in the state and that opened the floodgates for companies like Winners. In January 2021 alone, the state generated gross profits of as much as $49 million from sports betting activities. Since the launch of sports betting in November of 2020, wagers to the tune of as much as $523 million have been placed in the state.
