Sports betting is one of the fastest-growing industries in the world; it can be associated with how convenient betting is already, by having websites and apps for wagering but also because of the US Supreme Court ruling to legalize sports betting.
Insider Monkey published 10 Best Sports Betting Stocks to Buy Now; a summary of it is below
Number 10 is Penn National. They currently operate several gaming and racing properties in 19 states and are seeing “incredible” revenue growth and volumes post COVID-19 vaccine rollout. The next stock would be from DraftKing. The Boston-based company offers bets on daily and weekly fantasy sports in five major American sports — MLB, the NHL, the NFL, the NBA and the PGA. Despite strong earnings, the firm’s shares seem to underperform.
GAN is a technology company whose platform allows users to initiate their sports bets; it is also being used by commercial casino operators. The company offers Play-For-Fun Simulated Gaming, Real Money iCasino, and Sportsbook experiences. Scientific Games ranks 7th on the list. The company offers a platform for gaming, sports betting, lottery and interactive sports.
Churchill Downs is one of the oldest sports betting companies in the world. The company started in 1875 with one racetrack in Louisville, Kentucky but presently they own online sports betting platforms, racetracks and casinos. Boyd Gaming recently signed a partnership with FanDuel. to launch online casinos in New Jersey and Pennsylvania. Last year, the company launched a new version of its B Connected sports betting app.
London Stock Exchange, 888 operates several sports betting websites. It operates online casinos, sports betting platforms, B2B gaming operations and poker. Casino giant MGM is one of the best sports betting stocks to buy now. The company offers BetMGM app for sports betting.
Roundhill Sports Betting is one of the best sports betting and gaming ETFs to buy to gain exposure to the gaming market. The ETF tracks the performance of the sports betting and iGaming industry. Some of the top holdings of the ETF include William Hill, Penn, Flutter, PointsBet and Kambi.
Finally, Wynn Resorts is also one of the best sports betting stocks to buy now. The $14 billion market cap company offers mobile sports wagering applications and physical sports betting centers. The company’s WynnBET mobile app will soon be available throughout the state.
Read more of Insider Monkey’s 10 Best Sports Betting Stocks to Buy Now here.