Sports betting has seen an exponential growth in the last few years with further escalations during the last year due to the Pandemic. With some countries lifting the ban on sports betting, regulation of the industry, and growth on online sportsbooks in casinos, people are placing bets on sports in large numbers. worth nearly $60 billion, the iGaming industry is predicted to boom in the coming years.
So, it’s no surprise that the investors followed this money trail and started to invest in the iGaming industry. iGaming compromises of sports betting, cryptocurrencies, and esports betting, and the stocks worth keeping an eye on are:
DraftKings (NASDAQ: DKNG)
A popular iGaming platform in the United States, the company offers a wide range of services such as sports betting, online casino gambling, and distribution of casino gaming products and casino gaming platform software. The company also has the requisite resources and potential for growth, promising good long-term prospects on its stock
Penn National Gaming Inc. (NASDAQ: PENN
Founded in 1972, Penn National gambling operates video gambling terminals, live racetracks, and online casinos. It has partnered with Barstool sports and holds the gaming rights of the company for the next 4 decades and owns a 36% stake.
GAN Limited (NASDAQ: GAN)
Games Account Network provides casino content, sports betting applications, and turnkey social gaming. They operate both real-money casinos and virtual simulated games. The company went public in May 2020 and has since then been up 78% overall.
MGM Resorts International (NYSE: MGM)
Showcasing the best in entertainment, MGM Resorts International owns and operates casino resorts, hotels, and sports betting. They are the official sport betting partners of major league franchises around the world. Their BetMGM betting app offers you a full Vegas Casino experience as well as a comprehensive sportsbook. This growth in sports betting has been promising to the stockholders.
Flutter Entertainment provides global sports betting, gaming, and entertainment and is one of the biggest sports betting stocks. It was formed by the merging of Paddy Power and BetFair. They have acquired 55% of the largest poker site -PokerStars and Fanduel which is one of the leading daily fantasy betting sites in the United States.
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Legalizing of sports betting and online gambling have had a major impact on the performance of these shares and are worth keep an eye on.