Shares of gambling stocks and mobile gaming stocks have been trending upwards in recent weeks after the two largest gambling states in the U.S. — Nevada and New Jersey — announced the legalization of online gambling.

Although the state of Nevada has a population of less than 3 million people, the bill allows the state to enter into deals with other states with larger populations. The Nevada Gaming Control Board Chairman A.G. Burnett has stated that he has already received roughly 20 license applications for online gambling. According to American Gaming Association across the world approximately $35 billion is wagered online each year.

“The potential agreements to pool players between states as contemplated by the Nevada bill can likely be attributed to similar practices in the lottery industry, such as Powerball,” Fitch Ratings wrote in a recent report.

Research Driven Investing releases regular market updates on the Gaming Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns.

Shuffle Master operates in legalized gaming markets across the globe and provides state-of-the-art, value-add products in five distinct categories: Utility products, Proprietary Table Games, Electronic Table Systems, Electronic Gaming Machines and newly introduced Shuffle Interactive, which features online versions of Shuffle Master’s table games, social gaming, and mobile applications.

WMS Industries’ subsidiary, Williams Interactive LLC, has recently signed an online content licensing agreement with Sky Betting & Gaming, the online betting and gaming division of UK pay-television broadcaster BSkyB Group. The company has also signed an online gaming agreement with Malta-based Bonnier Gaming.