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Without Sports, Investors Bet on Diamond Eagles’ Merger With DraftKings

Illustration by Elias Stein

With casinos closed and sports betting moribund, online casino-style gambling is a bright spot for the industry. Internet gaming revenue (excluding sports wagers) in New Jersey rose 66% in March, to $65 million, the state reports. The Garden State is a leader in online gambling, which includes slots and table games like blackjack.

Only a few states allow internet gambling, including New Jersey, Pennsylvania, and Nevada. But more than 15 permit online sports gambling, and even more allow sports betting at physical casinos....