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What is Legacy Of Dead?
The operational infrastructure available to these new firms, however, remains underdeveloped. Gonzalez contrasts prediction markets with equities, where trading businesses can use prime brokers, clearinghouses and standardised systems such as FIX.
“When it comes to prediction markets, none of that exists,” he said. “Everyone that’s building in the prediction market space mostly starts from ground zero.”
Platforms were generally constructed for one person operating one account, rather than trading organisations requiring separate permissions and controls. According to Gonzalez, some teams still share a single login.
How to play Legacy Of Dead
Entain’s share price tumble follows a broader trend for gaming stocks in recent years. Added to that is a declining interest in the LSEG, as listed companies continue to exit at pace, including Flutter, which removed its secondary listing from LSEG in August.
The gaming giant left for greener pastures in the US, expecting to benefit from higher valuations in the most liquid equity market. But analysts have noted a similar downward trend in Flutter’s share price over time.
Down around 60% in a year, the risk is it becomes just another mid-tier consumer stock on a bigger exchange. “Deeper water doesn’t help if the current is moving somewhere else,” Corfai’s Ben Robinson recently said of Flutter’s stock price.
What is Legacy Of Dead?
In March, William Hill told staff it plans to permanently close approximately 200 of its retail shops in the UK, around 15% of Evoke’s retail estate.
Last month, meanwhile, Betfred announced plans to shutter 132 of its UK betting shops, reducing its workforce by over 600 employees.
Betfred CEO Jo Whittaker said: “We have tried hard to protect all our sites and the colleagues who work in them, but the combined impact of higher employer National Insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty has left us with no choice.”
