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When you engage in sports gambling, the aim is to forecast what team or individual will win in a sporting occurrence. You will gamble money on what you think will be the result. When you are correct, you gain money; if you are wrong, you will lose the money you used to gamble. This is the typical policy of sports gambling.
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ON AUGUST 3RD, the DraftKings stock price closed at $16.82, down significantly from its 52-week high of $64.58. People are gambling on sports, but the companies aren¡¯t benefiting ¡ª at least, not on Wall Street. So what gives?