- Chief Government Vlad Tenev indicated {that a} transfer into sports activities might take the type of occasion contracts, like those the agency launched proper earlier than the presidential election.
- Shares of Penn Leisure, Flutter and Draft Kings all moved decrease shortly after Tenev made the feedback, however the adjustments had been modest.
Robinhood CEO Vlad Tenev stated Wednesday that brokerage agency is contemplating increasing into sports activities betting not directly.
“We’re keenly trying into that house. Nothing to announce simply but, nevertheless it’s so essential to our clients and in tradition that we’re enthusiastic about it,” Tenev stated at Robinhood’s inaugural investor day occasion.
Tenev indicated {that a} transfer into sports activities might take the type of occasion contracts, like those the agency launched proper earlier than the presidential election. These markets, which let customers purchase and promote from one another, are completely different than conventional sportsbooks the place all bets are made towards the home.
Shares of Penn Leisure, Flutter and Draft Kings all moved decrease shortly after Tenev made the feedback, however the adjustments had been modest. Shares of Flutter had been down lower than 2% on the session, whereas Penn and Draft Kings are nonetheless constructive for the day.
Robinhood’s inventory was up greater than 2% in afternoon buying and selling.
