Sports Betting Fueling Stock Surge, Two Fury-Joshua Fights in 2021
Promoter Eddie Hearn says rival world heavyweight champions Anthony Joshua and Tyson Fury "have agreed to the basics" of a deal to fight two times in 2021.
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There is no signed contract yet, with the first fight likely to happen in the summer of 2021. Venues and dates have yet to be agreed to, and both English boxers have defenses of their titles to get through for the two fights to happen.
"We have agreed to the basics of the deal, a two-fight deal," Hearn, who promotes Joshua, told ESPN. "The hardest part is to agree to the financial element of the deal. We have agreed with Tyson Fury and the team, and we can now move forward with finalizing the smaller parts of the deal. The good news for fight fans is that we have agreed to do the two fights and we can now go and dot the I's and cross the T's.
"They also have fights in between to make and get through, and that's another issue."
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- Sports Bettors May Be a Driving Force Behind the Stock Market Surge
Axios reports that online brokerages have seen a record number of new accounts opened this year, and the big four — E-Trade, TD Ameritrade, Charles Schwab and Interactive Brokers — executed as many trades in March and April as in the whole first half of last year, per public disclosures.
Robinhood, whose easy-to-use app makes the transition between sports betting and trading seamless, boasts a similar customer base to most sportsbooks, notes Marc Rubinstein in his newsletter, Net Interest.
He notes that DraftKings has worked its way into more Robinhood portfolios than practically any other stock over the past month.
Axios points out that "Sports betting and stock trading aren't all that different. In fact, Barstool Sports just changed its daily gambling radio show from "Picks Central" to "Stocks Central".'
The site adds "day trading has replaced sports betting as a form of entertainment for many Americans during the shutdown, and this phenomenon could partly explain the current disconnect between the economy (down) and the stock market (up)."
- Aaron Goldstein, Gambling911.com
