Gambling recovered from Covid, but could now be laid low by legal hurdles

Top performer Flutter will update this week, but all UK players could be hit as the regulatory pendulum swings back

The house always wins, even in the midst of a pandemic. In the early days of lockdown, as the stock market lurched into stomach-churning freefall, the share prices of Britain’s gambling powerhouses also tanked.

The cancellation of sports events cut off the steady revenue stream that many had come to enjoy, not just from horse racing but, increasingly, from football betting, which typically involves small stakes but extremely high volumes.

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