Four Sports Betting Stocks to Watch

If you’re a keen sports bettor, you may like the idea of increasing your opportunities to turn a profit. Investing in sports betting stocks is an excellent way of capitalizing on the latest market trends and seeing a significant return on your investment.

While some sports betting and casino stocks certainly took a beating during the pandemic, now that casino floors are back open and sports are fully underway in front of packed stadia, it’s an excellent opportunity for you to invest in sports betting stock.

If you’re looking for a favorable addition to your portfolio, you should be watching the four sports betting stocks below, which represent some of the best investments in the market today.

1. Flutter Entertainment. 

With its headquarters in Dublin, Ireland, Flutter Entertainment is arguably the biggest name in sports betting. In the US, Flutter boasts the biggest sportsbook with its FanDuel platform and is also responsible for UK-based giants Paddy Power and Betfair. However, from an investment standpoint, the most significant growth proposition for Flutter is the US market.

Their FanDuel platform currently has a 36% share of the sportsbook market in the US, more than nearest rivals BetMGM and DraftKings. Given FanDuel’s popularity with punters and the fact that sports betting is estimated to grow to $8 billion by 2025 in the US, now would be a great time to invest in Flutter stock and reap the rewards of your investment in the years to come.

2. Esports Entertainment Group. 

When it comes to online sports betting, eSports represents one of the leading growth segments. In 2021, global revenue for eSports is expected to reach more than $1 billion, which is a rise of 14% from the previous year. Esports Entertainment Group is the largest dedicated betting company for the eSports segment. Although they don’t offer any type of casino games or other sports betting, there’s enough potential growth in eSports alone to suggest this could be an excellent stock to invest in.

It’s worth noting that Esports Entertainment Group is US-based, but they also have representation in though UK betting websites and Ireland. They’ve also applied to accept eSports bets in New Jersey, the largest sports betting state in the US. Should their application be accepted, and if eSports betting continues on its predicted trajectory, their stock will likely rise in the near future.

3. DraftKings. 

DraftKings is second only to Flutter in terms of market share of the US sportsbook, taking 25%. They’re a big player in the fantasy sports business and have grown from a niche provider into a US powerhouse in recent times. Their revenue is expected to grow 66% in 2021 and then a further 40% in 2022. Although such growth promise is exciting, DraftKings stock is not yet profitable.

However, with more and more US states acting to legalize online gambling, it’s a reasonably safe bet to assume that industry giants like DraftKings will present a decent turn on your investment. As of mid-2021, their stock is trading at 30 times sales, making it highly valued and enticing for investors.

4. MGM Resorts International. 

You might be surprised to hear that MGM Resorts International has branched out into sports betting and online gaming, to complement their famous casino offer. The Las Vegas leviathan has entered the sports betting scene under BetMGM and has launched in ten states already, the most recent being Iowa, Michigan, and Virginia.

As well as a range of sports betting options and online games, BetMGM will also be making the most of technological advances that will offer them a unique position within the sports betting market. One such partnership is with Topgolf, which aims to pair exclusive and interactive gaming with legal sports betting. Analysts believe that innovative partnerships such as this will see BetMGM turn a profit by 2022, so now is a great time to get in on their stock.

Final thoughts on Sports Betting. 

Investing in sportsbooks is an excellent way of taking your gambling to the next level. But it’s also a smart move, as the industry is flourishing and is widely expected to grow in the next few years. This is particularly the case in the US, as more and more states legalize sports betting and permit the registration of new sportsbooks.

The four sports betting stocks that we’ve introduced above are well worth watching over the coming weeks and months and present an ideal opportunity to venture into the stock market.

 

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