Interesting diversification move from TD Ameritrade

I work in the online gaming world, and this announcement from TD Ameritrade really stood out in the miasma: https://www.forbes.com/sites/sergeiklebnikov/2019/11/14/td-ameritrade-looking-to-enter-sports-gambling-business-report/#7c7e71ec7b06

I don’t advocate for Freetrade to make this move in the forseeable future, as IMO they should maintain their singular focus. But it’s interesting for me/us to watch what’s happening in the increasingly-competitive US no-fee stock trading market (they eliminated fees recently). TD Ameritrade have a massive database, strong brand, deep UX and 24/7 Ops, (I presume) a good level of consumer trust, and (I also presume) strong tech and team. With deep sports knowledge/passion and some good partnerships, they could probably make a reasonable dent through cross-sell.

I think there’s a lot in common between online trading and online gambling, and I’m curious to see how/if they try product integration as well as pure cross-sell. i.e. will equity X increase 2% in the next trading day and team Y cover the spread?

That doesn’t sound too different to what IG do now, although I don’t think they do sports bets they do let you bet on stuff like election outcomes etc. along with the share price and index spreadbetting