The pandemic and corresponding loss of sports betting revenue in 2020 were hard on several states. With Super Bowl, sports betting giant FanDuel is expecting to fill some fiscal gaps that appeared last year.

FanDuel stock price on a rise

The stock price of FanDuel has been increasing constantly as the country gets ready for the biggest sporting event of the year- the Super Bowl. The event is expected to generate the biggest sports betting handle for the company ever. The firm’s CEO Matt King commented on the losses they faced during the pandemic and said that the legalized athletic wagering could bring them bigger handles and better profits.

He said that the firm’s handle during the first 28 days of 2021 was a whopping $1 billion. In 2020, they didn’t reach this level before the last quarter of the year.

A record-breaking event

The American Gaming Association (AGA) suggests that the Sunday event which features Tampa Bay Buccaneers and Kansas City Chiefs is expected to bring over $4.3 billion in wagers. King said that business is booming for his company and it is expecting its biggest single-game activity ever.

He also said that the individual states are now under pressure to fill fiscal gaps because of COVID-19. The increased expenditure from states is making them think about new sources of revenue. Legalized sports wagering could be a good way for states to collect more taxes which could go into funding state programs. King highlighted that states that already have sports betting and iGaming laws are already in a win-win position. It helps players enjoy betting in a safe and regulated environment and checks the growth of illegal gambling markets as well.

FanDuel, he said, he focused on providing users the best betting product on the market. The firm is confident that it will continue to hold a leadership position in the American market.