What Stocks Would Benefit from Sports Betting?

As the sports betting industry continues to grow, investors are curious about which stocks could see a positive impact. With more states legalizing sports betting and leagues like the NFL and NBA embracing it, there are several potential investment opportunities. Here are a few companies that could benefit from the rise of sports betting:

1. Penn National Gaming (PENN)

Penn National Gaming owns and operates casinos and racetracks across the US. The company has already entered the sports betting market through partnerships with several major sports betting companies, including Barstool Sportsbook. With Barstool Sports having a large following and a popular social media presence, there is potential for significant growth in the sports betting sector for Penn National Gaming.

2. DraftKings (DKNG)

DraftKings is a digital sports entertainment and gaming company that became a publicly traded company in April 2020. The company offers daily fantasy sports, sportsbook and iGaming services across the US. DraftKings is already a leading player in the sports betting industry and has partnerships with the NFL, MLB, and PGA Tour.

3. MGM Resorts International (MGM)

MGM Resorts International is a leading global hospitality company that owns and operates several resorts and casinos, including the Bellagio in Las Vegas. The company has also entered the sports betting market through its BetMGM platform. With a well-established brand and a large customer base, there is potential for significant growth in the sports betting sector for MGM Resorts International.

4. FanDuel Group (PDYPY)

FanDuel Group is a digital sports entertainment and gaming company that offers sports betting and daily fantasy sports services. The company has partnerships with several major sports leagues, including the NFL and NBA. With a growing customer base and partnerships with major sports leagues, there is potential for significant growth in the sports betting sector for FanDuel Group.

5. Caesars Entertainment (CZR)

Caesars Entertainment is a leading casino entertainment company that owns and operates several resorts and casinos across the US. The company has also entered the sports betting market through its Caesars Sportsbook platform. With a well-established brand and a large customer base, there is potential for significant growth in the sports betting sector for Caesars Entertainment.

In conclusion, there are several companies that could potentially benefit from the rise of sports betting. Investors seeking exposure to this growing industry may want to consider investing in companies like Penn National Gaming, DraftKings, MGM Resorts International, FanDuel Group, and Caesars Entertainment. However, as with any investment, it’s important to do your research and consider your personal financial goals and risk tolerance before making any decisions.