Daily Archives: July 29, 2021

Robinhood founders Vladimir Tenev and Baiju Bhatt ring the opening bell at the New York Stock ... [+] Exchange along with staff.

Financial advisors are watching with interest as Robinhood prepares to hit the markets in one of the most anticipated initial public offerings of the year, not as investors but as potential competitors and doubters.

Chris Cooke, an Indianapolis-based advisor with eponymous Cooke Financial Group, anticipates a Robinhood effect with clients that will only grow over time. He expects that portfolios full of index and mutual funds may not be enticing for a generation of investors that cut their teeth using the free brokerage app. That could lead to more separately managed accounts where clients can better monitor the underlying stocks. Additionally, he already sees an increased emphasis on user experience and data accessibility that has been key to Robinhoods success.

People expect to have information on a minute by minute basis and a user interface thats quick and effective, Cooke says. The generations that come up in the future will fully and completely expect that client experience, whether they're with Robinhood or with an advisor.

Cooke is no stranger to disruptions in the industry, along with his advising work, he founded RIA aggregator Sanctuary Wealth with his brother Brian.

While he does not anticipate a direct disruption to his business, with clients ranging from $2 million to $200 million in investable assets, he foresees Robinhood being disruptive to the likes of Fidelity Investments and Charles Schwab.

Cooke compares a Robinhood account with a bar account he maintains with clients, allowing them to invest in popular stocks through a brokerage. It is more fun for clients to tell friends they bought Apple AAPL stock over a beer than to say their money manager did, he says.

While he feels Robinhood may be the place where a new generation of clients gets their first impression of the stock market, Cooke expects them to come knocking at his door when they start to take a more serious approach to investing.

There's some number at which people decide their money is important, Cooke says. I don't think Robin Hood is going to be the winner when it comes to that type of investor.

Michael Miller, a top advisor with Wellesley Asset Management in Massachusetts, concedes that the typical Robinhood customer today is young and more focused on trading than investing. However, he think it is still possible that the startup brokerage will adapt to serve a more serious investing audience.

Robinhood is this great platform for kids in their 20s, but that client base is going to turn 30 and 40 and Robinhood is going to want to adjust their business, he adds.

Passing for young in an aging industry, 38-year-old Miller knows people who have made lots of money doing risky trading on Robinhood and has started to have interactions with younger relatives of clients who have used the app. In those discussions, he encourages their limited investing experience but extolls the virtues of a more holistic financial plan.

Jeff Grinspoon, a Virginia-based top advisor with VWG Wealth Management on the Hightower platform, sees much of Robinhoods success as the result of a seemingly endless bull market.

When the markets goes up everyone feels smart, he says, adding that he is skeptical it is a breeding ground for future clients.

Grinspoon wonders what will happen to these new, risk agnostic investors when a bear market hits, worrying that a prolonged pullback will leave them with a misguided and negative impression of markets.

His exposure to Robinhood, through younger family members, has left him encouraged by the newfound investing interest but discouraged that it revolves around speculative investments such as Bitcoin and meme stocks. Grinspoon sees Robinhood as more akin to online sports betting on DraftKings than to the financial planning he does with clients.

While there is still a massive difference between the work done by the likes of Cooke, Grinspoon and Miller and the self-directed trading of Robinhood users, Cooke gives credit where he feels it is due.

I admire what Robinhood has built, he says. There's a place for innovation, they found a niche that theyve exploited.

Originally posted here:

With Robinhood IPO, Financial Advisors See Everything From Gambling To Wealth Managements Future - Forbes

After posting the NHLs worst save percentage (.880) and allowing the most goals in the league a season ago, the Flyers are once again leaving their goaltending situation to chance in 2021-22.

Flyers GM Chuck Fletcher has worked hard this offseason to try and improve his roster adding defensemen Ryan Ellis and Rasmus Ristolainen via the trade market and dumped the offensive-minded Shayne Gostisbehere for cap space. Heck, he even swapped out a major defensive liability at forward in Jakub Voracek for the more defensively responsible Cam Atkinson.

But while Fletcher took care of items off his offseason checklist, one of if not the most important boxes went unchecked until yesterdays signing of Martin Jones to a one year, $2 million deal to backup Carter Hart.

Yes, that Martin Jones who contributed largely to the NHLs second worst save percentage a year ago out in San Jose (.891). The Sharks allowed the leagues second-most goals, just one below the Flyers.

Jones, 31, was in net for 102 of those goals and endured a third-straight season of sub-.900 save percentage work earning a buyout of the six-year, $34.5 million deal he scored from the Shark back in 2017. Jones sure didnt reward the Sharks for their investment, posting a remarkably bad -45.1 goals saved above average (GSAA) since signing on the dotted line.

Fletcher was forced to turn to the veteran buyout option after being spurned elsewhere in the free agency goalie market for a backup behind the soon-to-be 23-year-old Hart.

Braden Holtby was also bought out, but found the identical deal as Jones in tax-free Texas with the Stars. The Devils overpaid for Jonathan Bernier, James Reimer chose the Sharks, Jaroslav Halak headed up to Vancouver to play behind Thatcher Demko, Antti Raanta joined Frederik Andersen in deciding to play behind the Hurricanes stifling roster, and Laurent Brossoit ended up in Vegas.

The cards fell as they did and Fletcher was left to the scraps.

This wouldnt be as big of a deal if Hart didnt just suffer through his worst season ever while guarding the crease posting an .877 save percentage and a -22.6 GSAA as the Flyers goaltending literally kept them from playoff contention. But not only did Hart struggle numbers-wise, but he struggled mentally in 2020-21 as well. He inexplicably drew the ire of his own coach at one point and was unable to perform, leaving the net up to veteran Brian Elliott last season for far too long of stretches.

The results costed the Flyers a chance to compete for the Stanley Cup and damaged the once-immaculate confidence of their goaltending prodigy, keeping around the same support system that helped break down the 22-year-old around to oversee the task of building him right back up.

And even though the expectation is that Hart bounces back and returns to the form we saw in his first 74 NHL games (.915 save percentage, 2.59 goals-against average), what happens if there are repeat struggles for the youngster in just his fourth NHL season and into the 100s in terms of career games played?

While not many of the open market options would likely suffice in terms of 2021-22 should Hart falter, surely theyd have had better resumes leading into it than Jones who hasnt been anything other than a negative value netminder in each of the last four years. Would committing slightly more money behind Hart been of more value to the Flyers as insurance for a better option, especially after Fletcher invested so much future capital to improve the club in the short-term?

And perhaps the Jones signing is also indicative of how the goaltending fraternity views Hart, with veteran options potentially turning down the chance to play in Philadelphia due to presence of the youngster who looked every bit of the next franchise goaltender just 28 games ago. Goalies like Riemer and Raanta could have looked at Hart and decided that the net would be less crowded elsewhere, while the ever-solid Halak decided on Vancouver being a picturesque last stop before retirement.

Though Jones recent work has indicated that hes simply not very good, Fletcher could also be banking on a relationship from the goaltenders past to help jumpstart his game.

Thatd be Flyers goaltending coach Kim Dillabaugh, who worked with Jones in Los Angeles when he broke out behind Jonathan Quick in a backup role before being traded for a first-round pick and scoring a big contract in San Jose.

And while thats lot of stock to place in a coach to revive a career that has gone off the rails in a big way, and over a large, large sample size its a bold bet that Fletcher is making behind Hart.

Its a bet that he hopes just applies to exactly that the backup goalie. If Hart is Hart as the Flyers brass thinks he is, then the potential dumpster fire of 20-ish games behind him is far less concerning. But as we saw a year ago, nothing is a sure thing and if Hart falters again, the Flyers and Fletcher are going to be praying that Jones can muster up some of the magic he had years ago.

Fletcher hasnt been shy to play his cards this offseason, but this is one play that seems like its going to need a lot of help to hit big and could have enormous consequences if it doesnt.

Its the Flyers and goaltending, so why wouldnt it be anything other than chaos?

Original post:

NHL: The Philadelphia Flyers are gambling on better results in the crease once again with Carter Hart and Mar - Broad Street Hockey

Photo from: https://pixabay.com/photos/choice-select-decide-decision-vote-2692466/

The UK gambling industry has seen a host of tougher rules applied over the last few years as authorities try to clamp down on problem gambling in the country. Because of the stricter regulations, UK punters are increasingly looking for other options and Non-GamStop casinos are one of most popular in recent times.

UKgamblers are attracted to these sites because they are seeking more freedom in their gambling experience, without the strict betting limits, limited bonuses, and decreased funding options that are now commonplace at UK sites.

For US gaming regulators, there are lessons to be learned from the UK sites and the approach ofnon-UK casinos will be also featured in this article.

In Britain, there has been the introduction of GamStop, which is a non-profit organization that works with the UK Gambling Commission in the country. GamStop runs a self-exclusion schemewhich punters can sign up tofor free, and they will have their access to gambling sites blocked atUK gaming companies. The length of the exclusion can be up to five years.

With many sites now available in the United Kingdom, the scheme allows users to apply a blanket restriction across the nation andput a halt on their betting activities. This can be beneficial for gamblers that are having a losing streak and may struggle to control the psychological urges.

Customers mustprovide their contact details that were used to sign up to the betting sites in the past and GamStop does the rest.

Sites not on GamStop are casinos and gaming sites that are located outside of the United Kingdom and aretherefore not subject to the same regulations. These sites are still regulated by a gaming authority in their own jurisdiction, with two of the common destinations for gaming companiesoutside of Great Britain being Malta and Gibraltar. These sites are overseen by the Malta Gaming Authority or the Gibraltar Governments Gaming Division. The non-UK casino sites are still subject to a high level of compliance with KYC rules and segregation of client funds from the business. Thedownfall of using these sites can be alack of third-party support for dispute resolution, but the requirement for that is up to each user.Sites are also becoming more popular in South American countries with Costa Rica being one example.

UK gamblers are increasingly looking towards these sites because the experience is more free than sites onGamStop. British gambling companies are being subjected to strictregulations and are limited in their ability to market their products and offer attractive rewards and bonuses.

Sites not on GamStop will still have some form of self-exclusion, but not as lengthy as the five years available in the UK.The sites will have an opt-in strategy for exclusion which can be reversed.

There areadvantagesavailable to consumers when choosing the sites that are not required to follow the GamStop rules. For customers who are more comfortable with their betting patterns, they will find that the sites offer a lot more freedom.

The UK government has been pressured by social and mental health groups to police the problem gambling issue and that has seen them enforcing rules on the gaming experience, such as spin timers and bet size limits.

According to casinonotongamstop.net,usingnon-GamStop sitesalso provides access to a wider selection of funding options. The UK gambling industry was forced to halt the use of credit cards as a funding option, which is another attempt to curb problem gambling, but again, it limits the experience for all. At non-UK sites you can still use credit cards, digital wallets, and even cryptocurrencies to fund your account.

The issue created by the regulators is that by applying harsh rules, they simply push gamblers to bet at sites overseas and that impacts on the tax benefits to the UK government. US regulators would be wise to consider that lesson and study the implications of going too far with regulation.

With all consumer choicesthere are pros and cons attached to using a GamStop casino versus a non-UK casino. This is our summary of the important pros and cons:

Cons

Pros

Cons

When looking to regulate the booming gambling scene in the US, it is important to consider the effects of going too far in regulation. The UKGC has made an effortto clamp down on the UK industry but that has seen many users driven to use sites outside of the country. That also means less tax income for the government.

Bet sizes and deposits are free from restrictionsat the non-UK sites, but they are also offeringmore attractive welcome bonuses and rewards. The game librariesat these gaming sitesareoften more extensive than the UK sites and that is another effect of the UKGC marketing rules. Bettors using these sites will also find there are more options available for account funding.

In conclusion, UK gamblers are looking for a fun experience at gaming sites and enforcing too many rules has seen many driven to usenon-GamStop sites. The US gambling regulators should try to avoid the same fate if they attempt to tackle gambling addiction in the country.

View original post here:

Gambling Addiction Efforts in the UK and Non-GamStop Casinos - Californianewstimes.com

A judge has sentenced a Dakota County town clerk to more than two years in prison for stealing more than $650,000 from Vermillion Township to feed her gambling habit.

Maryann H. Stoffel, 71, of Hastings, was sentenced Tuesday in federal court in Minneapolis to 2 years and ordered to pay back the $652,674.66 that she misappropriated from December 2012 through October 2020.

Stoffel pleaded guilty in March to one count of wire fraud.

"This was not a one-time mistake," the prosecution wrote in asking for Stoffel to receive a three-year sentence. "Stoffel made the decision on many different days over the course of eight years to steal money from the Township and to lie to her fellow Township officials. Stoffel did not use the money to buy things that she needed, but rather to fund her yearslong gambling habit."

Defense attorney Catherine Turner countered in a filing before sentencing that Stoffel should be shown mercy by Judge Patrick Schiltz and spared prison for various reasons, including that her marriage is over, her house is being sold to make up in part for what she stole, and "the musk of shame and humiliation surrounds her like an aura."

"Almost everyone she considered a friend or colleague has turned away from her," Turner wrote.

Turner noted that her client did a lot of good for Vermillion Township despite the years of stealing money that she gambled away at the casino.

"She took the hamlet into the 21st century, helping train officials on state statutes and city ordinances," she wrote, adding that Stoffel also "faithfully served" the city of Rosemount for 27 years in its building permit department.

"She was dedicated to improving Vermillion Township and the efficacy of its small government," Turner wrote. "She knows that she ultimately betrayed the town's trust and confidence but it is worth noting [there] were good things that she did for the township under her stewardship that will continue to benefit the residents long after the cloud of her theft has dissipated."

According to the criminal complaint and other federal court records:

Stoffel had signature authority over the township's bank account, which required the signatures of two people before payment would be issued.

Starting in December 2012, the year that Stoffel and her husband filed for personal bankruptcy protection, she sometimes forged the signatures of the township's treasurer and the board chair. At other times, she would collect the treasurer's and chair's signatures on blank checks under the guise that she would submit them to pay township bills.

Stoffel then put the funds in her personal bank account and left off the payments to herself from the township's annual report.

The U.S. Attorney's Office has not said how the thefts were detected.

Paul Walsh 612-673-4482

Excerpt from:

Dakota County clerk who stole $650K to feed gambling habit gets 2 years in prison - Minneapolis Star Tribune

SINGAPORE - Fewer Singaporeans are gambling, while the number of those likely to have gambling addictions remains low, according to the latest survey by the National Council on Problem Gambling (NCPG) released on Thursday (July 29).

This decrease could partly be due to Covid-19 restrictions limiting access to gambling opportunities, said those who work with problem gamblers.

The 2020 edition of the survey found that 44 per cent of Singapore citizens and permanent residents aged 18 and above polled said they had taken part in at least one form of gambling activity in the past year, down from 52 per cent in the 2017 survey.

This decrease was observed across most demographic groups and gambling products such as 4-D, Toto and social gambling.

The decrease is statistically significant, said the council, which has conducted the survey of 3,000 people every three years since 2005 to find out the extent and pattern of gambling here.

But it noted that the percentage of the population that gambles has remained around 50 per cent since the first survey was done.

4-D continued to be the most popular game among those polled, similar to the 2017 survey.

Some 34 per cent placed a wager on 4-D, followed by Toto (31 per cent) and social gambling (16 per cent). Just 1 per cent bet on horses or tried their luck at the jackpots in casinos here, while 0.3 per cent gambled online.

The survey also found that the median monthly betting amounts of gamblers decreased from $30 in 2017 to $15 in 2020, with 89 per cent of gamblers betting $100 or less a month.

A very small proportion (0.3 per cent) gambled with large amounts - average monthly betting amount of more than $1,000.

Due to Covid-19, there were restrictions on gambling activities during the period of survey as gambling operations, such as casinos and Singapore Pools, were suspended at points in 2020.

A Ministry of Social and Family Development (MSF) spokesman said: "Even though we had adjusted the survey to minimise the impact of these restrictions, they may still have affected responses."

Ms Tham Yuen Han, executive director at We Care Community Services, which runs support groups for gambling addicts, said another factor for the decrease could be that since the survey is based on self-reported data of the respondents, those with more compulsive gambling habits would have resorted to alternatives, such as illegal underground channels.

The report also found that the overall probable pathological and problem gambling rates among Singapore residents remained low at 1.2 per cent. Pathological gambling indicates more severe addiction compared with problem gambling.

The probable pathological gambling rate for 2020 was 0.2 per cent, compared with 0.1 per cent in 2017. The probable problem gambling rate for 2020 was 1 per cent, compared with 0.8 per cent in 2017. These differences were not statistically significant.

The report said: "Nonetheless, problem gambling remains a concern. NCPG and MSF will continue to work together to tackle problem gambling."

Ms Tham said that the traditional stereotype of a gambling addict is that of an older male adult from a lower educational background and lower socioeconomic status.

"This stereotype is being challenged by the proliferation of digital media platforms and our increasing pace of technology adoption," she said.

We Care is beginning to see a shift in the profile in the last two years, which now includes professionals, people with tertiary education, and across a much wider age range - from those in their early 20s to those above 50.

The report also found that the overall probable pathological and problem gambling rates among Singapore residents remained low at 1.2 per cent. PHOTO: LIANHE ZAOBAO

NCPG and MSF are also keeping an eye on new gambling trends.

The MSF spokesman said that the lines between online gaming and gambling have become increasingly blurred, and there is also a prevalence of online sports betting.

"Sports betting has become more popular,especially among the young. The fast nature of sports betting and multiple football tournaments and leagues may result in people betting more frequently and with a greater amount of money," she said.

NCPG has also intensified its collaboration with online media platforms and partners to better engage youth via social media, in-campus activities, and competitions to educate them on gambling prevention and gambling risks in online games.

Fei Yue Community Serviceshead of youth services Wong Ying Li said: "Gambling awareness programmes are important because gambling elements have become a part of everyday activities that many find enjoyment in."

Since 2014, Fei Yue has been conducting gambling awareness talks in schools to educate and warn youthof new trends in gambling.

The talks have now evolved to educate youth of the subtle elements of gambling in games that can become addictive, and how game makers will have the advantage in these luck-based games, Ms Wong added.

Read this article:

Fewer Singaporeans gambling, number of those likely to have addictions remains low: Survey - The Straits Times

SINGAPORE - When Alex (not his real name) was 14, his friends introduced him to illegal football gambling through bookies.

"We thought, wow, we can make money out of this, it looks simple and easy," he said.

Little did he know then that it would be the start of a decades-long addiction to gambling that he would try to quit several times, yet come back to each time.

At his lowest point, he was in a six-digit sumof debt, having borrowed from friends and family and "literally everyone I knew" for the purpose of gambling, he said.

Alex, now 37, is still going through counselling and is part of a Gamblers Anonymous support group at We Care Community Services. He is working as a safe distancing enforcement officer and volunteers with We Care to share his story of overcoming a gambling addiction.

But he knows that the temptation from gambling may never fully go away.

"It's probably going to be a lifelong thing since I did it for more than 20 years. It is easy to stop but difficult to stay stopped," he said.

Alex said that he first tried to quit after serving national service when he was 22, as he had lost a large sum of money and had to be bailed out by his parents.

He tried to quit on his own, telling himself to just stop gambling and not to do it.

"I didn't realise I was having an addiction problem. I thought I could just stop gambling whenever I wanted, like anybody else," he said.

In 2019, at the lowest point of his life, he was admitted to the National Addiction Management Service at the Institute of Mental Health, where he first got to know of We Care, which ran an outreach programme there.

"I realised it was no longer a problem I could solve by myself and I needed professional help," said Alex.

After he was discharged, the counselling sessions and the Gamblers Anonymous group helped him to stay away from his old addiction.

"It is at these places where I can tell others, 'Eh, I felt like gambling again today, but I did not'.And they will be open and try to help," he said.

"These people I had never met before understood my problems more than my closest friends or my family."

His advice to others struggling with a gambling addiction is to be truthful and ask for help, and be willing to accept it.

His relationship with his family that had been strained due to his debt and addictionis slowly improving.

"My mum is very happy for me to stop gambling, she says she can see a difference in me."

More here:

Once mired in six-digit debt, former gambling addict now shares his story to help others like him - The Straits Times

There are many different types of holidays that people can take all over the world. Some people may seek the thrill of adventure holidays, want to explore city sights, or decide to book a relaxing sunny beach escape instead.

For adult travellers, there are a lot of fabulous places around the world that provide top-class entertainment and nightlife too. Those who like to place bets on card games and play slot machines can visit many great gambling hotspots around the world. Here are just three places for adults to visit if they are looking to explore land-based casinos as well as other attractions on a holiday trip.

Las Vegas has long been known as the world's number one gambling destination, thanks to the high number of casinos with world-class entertainment. The Strip boasts some of the most extravagant and luxurious casinos that are full of entertaining nightlife, great food, and popular casino games. Its home to some of the most fabulous casino resorts including The Bellagio, Caesars Palace, and The Venetian. Aside from gaming, Vegas is a great holiday destination as there are many exciting things to do in the city, from helicopter tours to exploring attractions and restaurants.

As well as visiting casinos, tourists can explore the city and experience more of The Strip, the Fountains of Bellagio, and even the Cirque du Soleil aquatic performance O. The gambling capital of the world is also a great filming location too, with movies like The Hangover and the iconic Oceans Eleven being filmed there. Both films used The Strip and some of the Las Vegas casinos for their scenes. This city, which grew out of gambling, receives millions of visitors every year that are attracted by its popularity.

Many tourists flock to Englands capital city each year to experience some of its top attractions. Some of the best London attractions to visit include the London Eye, Buckingham Palace and the Tower of London. The city is also home to the Warner Bros. Studio Tour for fans of Harry Potter who would like to see whats behind the scenes. Although Las Vegas is well-known for being the gambling capital of the world, there are also many beautiful casinos to visit in Europe too, including Londons famous Hippodrome Casino which is one of the most well-known casinos in the United Kingdom.

Opened in 1900, the Hippodrome was originally a theatre, later a nightclub, and now a casino as of 2012. As well as having multiple gaming floors for casino entertainment, it is also home to Magic Mike Live and the Heliot Steak House. Another top casino nearby is also The Empire located in Leicester Square. Its got a variety of table games, slot games, and even a poker room for game tournaments too. The Icon Balcony Bar also offers a fantastic view over the busy Leicester Square. The combination of world-class casinos and the many other attractions makes London a top city to consider when looking for a gambling destination.

Another interesting gambling hotspot for gaming fans to visit on their next overseas trip is Macau. Its located around 40 miles from Hong Kong, is known as Asias gaming capital, and is home to some incredibly luxurious casinos and resorts.

In Macau, there are a variety of casinos for adult tourists to visit on their trip that are located on Taipa Island, the Cotai Strip, or the Macau Peninsula. The Culture Trip provides a useful insight into things to know before travelling to Macau, such as how to get there, what language is spoken, and what is the best time of year to visit.

Macau has a range of top-class casino establishments including the Wynn Macau, MGM Macau, City of Dreams, and the Grand Lapa Macau. The casinos have a variety of features with some featuring a selection of table games, slot machines, VIP rooms, or even suites and restaurants. Macau now has around 41 casinos and its biggest is the famous The Venetian Macau. The Venetian, sister resort of The Venetian Las Vegas, is inspired by Venice and has Italian architecture and designs throughout. This 39-story land-based casino hotel is the largest casino in the world and is located on the Cotai Strip.

Link:

Some Of The World's Most Popular Gambling Hotspots - FTNnews.com

As the sports betting and iGaming industry expands, gambling stocks continue to attract interest from investors.

We take a look at recent headlines surrounding Pennsylvania gambling stocks, and present insights from stock analyst Peter Reznicek.

Peter Reznicek is the founder of ShadowTrader.net and writer of Peters Premarket Perspective, a morning market profile blog to help people plan their trading day and organize their thoughts before the market opens. Reznicek will provide his insight on some of the headlines surrounding gambling stocks. Hes on Twitter and can be reached at [emailprotected]

The Most Dangerous Stocks Models Portfolio recently included $PENN stock. Joseph N. Jaffoni, an investment advisor to Penn National Gaming, called it irresponsible and misleading and said the story makes no mention of the strength of Penns recent operating performance. Zacks Equity Research reported that $PENN is in oversold territory according to its RSI (relative stock index) reading of 28.37.

Reznicek says: Lets look at the chart.Regardless of whether you believe the stock is overvalued or undervalued, it is clear from the price action that it is not healthy right now. There have been two earnings reports since the March 15 high (middle of chart) and price has not responded favorably at all to either of these releases. The 20 period moving average (green) and the 50 period moving average (red) have been pointing downward for months. And more recently it appears that even the 200 period (blue) is starting to roll over. The much slower 200 period average is a barometer of long term bias.

While it is true that RSI readings below 30 often indicate oversold territory, understand that the nature of indicators is that they are price driven and can remain in oversold readings for long periods of time. Generally, traders would be better off ignoring these indicators and relying more on trendlines (yellow dashed line) and moving average direction to gauge direction.

Bank of America named Penn National Gaming as one of its ten best covered call plays.

Reznicek says:

To speak to BOA naming PENN as a top covered call play, I would say ok, maybe. The ideal stocks for covered call plays have higher than average implied volatility in their options but also have charts that grind higher slowly from lower left to upper right. PENN satisfies the first criteria with options expiring 31 days out trading at 61.70% (which implies the potential for a 61.70% move in either direction on an annualized basis). But fails on the second criteria as the current trend is down and price is generally grinding lower.

Fubo Gaming ($FUBO) announced an agreement with the Cordish Companies which gives it access to Pennsylvania for sports betting and online casino. It plans to launch Fubo Sportsbook state-by-state in Q4 of 2021, pending regulatory approvals. Unlike the other sportsbooks in PA, Fubo plans to integrate the sportsbook into FuboTV for a watch-and-wager experience. On April 19, Fubo was $19.43. It closed on July 16 (after the announcement) at $25.90.

Reznicek says:

FuboTV is still in a downtrend but has recently been improving quite a bit and is now starting to make some higher lows. Ive circled the area around $30 where the stock will actually change trend back upwards. That would be a buy point for investors who are looking to take a long term position in the stock.

PlayPA: What are some of the key things you look for when a company, not just one in the gambling/sports betting space, releases its Q2 2021 results?

Reznicek says:

If Im in the long game, I want to see revenue growth from quarter to quarter, preferably in double-digits if its in the tech space. I also want to see an expansion of net income as well. Those are the basics that every fundamental investor should be expecting from their company. If any metrics are not moving in the right direction, then you want to find out if that situation is transitory or ongoing.

As a technical trader, I want to see the chart moving in the right direction. I want to see historically how it reacts to the releases of its numbers. Good news should be met with good price action. If its not, then there could be something going on under the hood that I need to find out about.

Disclaimer: Futures, stocks and options trading involves substantial risk of loss and is not suitable for every investor. You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. This article is intended to provide information, not investment advice.

Lead image via Dreamstime.

Originally posted here:

Market Insights About Gambling Stocks and Latest Penn National News - Play Pennsylvania