Online Sports Gambling Stocks
Sports are coming back. Online betting is increasing. What companies are benefiting?
Sports betting will be as much as about the technology used as it is about online betting. International Game Technology provides technology that makes gaming easy and fun. Activision is also one of the only video game stocks to pay a dividend. As a leader in the gaming and eSports space, Activision is likely to keep delivering. This makes it one of the best stocks in the gaming industry to add to your portfolio. Take Two Interactive (NASDAQ:TTWO). It is predicted that by the year 2022, all around the world, sports fans will be having as much as $1 trillion invested in online betting per year. Five gambling stocks with great potential in 2020. Given below are five gambling stocks that one should keep an eye on in regard to gambling in legalized sports. MGM Resorts (NYSE:MGM).
Two years ago, the Supreme Court allowed betting on sports in all states, with each state deciding whether to allow this form of gambling or not. Several states have already legalized online sports betting. Many more states are considering legislation. These changes should lead to more online gambling, and a transition from illegal gambling to legal betting.
Even NBC Sports Broadcaster Jim Kozimor mentioned in an interview that sports betting will be an extremely strong growth industry.
So if you are looking for a way to profit from sports gambling, you should look at the stocks that should benefit from the online betting on sports events.
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DraftKings (DKNG) is one of the largest pure plays in the online sports betting arena. This was one of the stocks that was created from a SPAC. Revenues for this $20.6 billion market cap company were up 23.6% for the latest quarter. Earnings are minimal giving it a price to earnings ratio of over 1000.
Flutter Entertainment (PDYPY) is one of the largest daily fantasy sports providers and a leader in the legal sports betting market. The company was formerly named Paddy Power Betfair. This $25 billion market cap company trades at 47.5 times earnings.
Boyd Gaming Corp. (BYD), an operator of a company that runs over a dozen casinos across the United States, offers its B Connected Sports app in order to take advantage of increased legalization. The stock trades at 30.9 times forward earnings.
Online Sports Gambling Stocks
The following is a list of over 20 companies that may benefit from online sports betting and Internet gambling, sorted in order of market cap.
| Company | Symbol | Mkt Cap in Millions | Yield |
| Las Vegas Sands | LVS | 36,372 | 4.59% |
| Marriott International | MAR | 31,134 | 1.21% |
| Paddy Power Betfair [Flutter Ent.] | PDYPY | 24,970 | 0.00% |
| DraftKings | DKNG | 20,689 | 0.00% |
| MGM Resorts | MGM | 11,259 | 0.95% |
| Penn National Gaming | PENN | 10,680 | 0.00% |
| Gaesar’s Entertainment | CZR | 9,604 | 0.00% |
| Wynn Resorts | WYNN | 7,940 | 2.04% |
| Churchill Downs | CHDN | 7,154 | 0.39% |
| GVC Holdings | GMVHF | 6,103 | 7.42% |
| Scientific Games | SGMS | 3,475 | 0.00% |
| Boyd Gaming | BYD | 3,470 | 0.00% |
| William Hill | WIMHY | 2,544 | 0.00% |
| International Game Technology | IGT | 2,367 | 7.21% |
| Madison Square Garden Ent. | MSGE | 1,661 | 0.00% |
| 888 Holdings | EIHDF | 851 | 2.21% |
| Gan Ltd | GAN | 485 | 0.00% |
| GameHost | GHIFF | 104 | 0.00% |
| Millennial Esports | MLLLF | 58 | 0.00% |
| Bragg Gaming | BRGGF | 26 | 0.00% |
Disclosure: Author owns DKNG.
Disclaimer: This article is designed to provide information. It is provided with the understanding that neither the author nor the publisher is ...
moreTop Online Sports Gambling Stocks
Disclosure: Author owns DKNG.
Disclaimer: This article is designed to provide information. It is provided with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services. The authors and publisher shall not be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential or other damages. As each individual situation is unique, questions relevant to personal finances and specific to the individual should be addressed to an appropriate professional to ensure that the situation has been carefully and appropriately evaluated.
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