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What Are the Top Betting Stocks in Sports?

Eva MarcilleVerified
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Summary：Looking for the best sport betting stocks? DraftKings, MGM Resorts International, and Penn National Gaming are top contenders with strong performance and investment potential.

What Are the Top Betting Stocks in Sports?

Sports betting has become a popular pastime and investment opportunity, creating a demand for companies that operate in this space. In this article, we will explore some of the top betting stocks in sports, their performance, and investment potential.

1. DraftKings Inc. (DKNG)

DraftKings Inc. is a digital sports entertainment and gaming company. The company operates in 11 states in the US and has partnered with several professional sports leagues, including the NFL, NBA, MLB, and NHL. DraftKings has seen significant growth since its IPO in April 2020, with its stock price increasing over 400%. Its revenue for the third quarter of 2020 increased by 98% year-over-year. DraftKings is a promising investment opportunity for those looking to invest in the sports betting industry.

2. MGM Resorts International (MGM)

MGM Resorts International is a well-known name in the gaming industry, with a presence in Las Vegas and other locations worldwide. The company has a sports betting app, BetMGM, which allows users to place bets on a variety of sports events. MGM Resorts International has seen a decline in revenue due to the COVID-19 pandemic, but the company is still expected to perform well in the long term. With a strong brand name and a large customer base, MGM Resorts International is a safe investment option for those interested in the sports betting industry.

3. Penn National Gaming (PENN)

Penn National Gaming is a gaming and racing company that operates 41 properties in 19 states in the US. The company has recently entered the sports betting market through its acquisition of Barstool Sports. Barstool Sports has a large following and a strong brand name, making it a valuable addition to Penn National Gaming's portfolio. Penn National Gaming's stock price has increased over 300% since its low in March 2020. The company is expected to experience significant growth in the sports betting industry in the coming years.

Investment Strategy

Investing in sports betting stocks can be a profitable investment strategy, but it is important to approach it with caution. It is essential to conduct thorough research on the companies and the industry before making any investment decisions. One should also diversify their portfolio and not invest all their money in one company or industry.

In conclusion, sports betting is a growing industry with promising investment opportunities. DraftKings Inc., MGM Resorts International, and Penn National Gaming are some of the top betting stocks in sports, with strong performance and investment potential. It is important to approach sports betting investments with caution and to conduct thorough research before making any investment decisions.

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best sport betting stocksDraftKingsMGM Resorts InternationalPenn National Gaming
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