Lawmakers in several states are betting big on legal sports betting. New York, for example, has just launched mobile sports betting. Ohio and Pennsylvania are expected to legalize sports betting sometime in 2024. Florida is also expected to legalize sports betting this year, with the legislature aiming to iron out the kinks. As more states legalize sports betting, Allen predicts a shakeout in the industry, with only a handful of companies emerging as winners.
Changing attitudes toward the legal industry are driving this shift. The previous emphasis on inputs has given way to an increased focus on output, with customer satisfaction taking a central role. This is causing major disruption, and investors are betting big on the shift. To keep up with the changes, the legal industry needs sophisticated tools. With a growing number of new technology, law firms can produce quality work faster and increase volume. However, clients are demanding more than ever.