As these new legalized States come online who are they taking share from?
1. Locals?
2. Offshore?
3. None. This is new money from recreational gamblers only who have never wagered before.
4. Other?
My guess is offshore is/will feel the brunt of this. This isn't small potatoes either. As an example a small State like Indiana is 4 months in to this and through November has had a handle of 300+ million of action not including the December handle. I realize the professional bettors need the offshore for line shopping but as a whole really what percent of the handle comes from professionals versus recreational bettors? Thoughts?