There are several different stocks that can be considered for investment in the sports betting industry. Below we’ll discuss Rush Street Interactive, DraftKings, MGM Resorts, Churchill Downs, and Rush Street Interactive. The next section will detail some of the more commonly held online sports betting stocks. Listed below are the two most popular. Each of these stocks has their own unique advantages and disadvantages. However, they are all excellent investments.
Rush Street Interactive
If you’re a fan of online sports betting, you’ll want to consider investing in Rush Street Interactive (RSI). Its shares surged on Wednesday on an analyst upgrade, and trading volume was higher than usual. But this latest trend in earnings estimate revisions may not translate into a price increase in the near future. Until then, RSI remains among the best online sports betting stocks.
The company’s recent results are a bit disappointing, but the company’s future looks bright. Its revenue grew by only 31% compared to the same period last year, and analysts expect sales to rise by about 4% per year. The company is still growing, and it’s worth considering a wait-and-see approach. The founders own more than half of the company.
Draft Kings
If you are looking for one of the best online sports betting stocks, DraftKings may be the company for you. The company has spent significant amounts of money on advertising and marketing to gain new customers. In fact, its shares are heavily shorted; they’ve lost nearly $47% from their 52-week high. The company plans to expand its business in 2022, so you’ll want to get in now.
There are nine stocks and one exchange-traded fund that give investors access to gains from sports wagering. Some of these stocks are direct bets on the trends, while others are diversified plays on gambling. The company’s long-term growth rate expectations ยูฟ่าเบท represent its average earnings growth over the next three to five years, while its target price represents its average price for the next 18 months. All of this data is gathered from S&P Global Market Intelligence.
MGM Resorts
MGM Resorts is one of the best online sports betting stock picks right now. The company’s interactive gaming platform BetMGM is among the fastest-growing in the industry. There’s also plenty of upside to this stock as more states legalize online sports betting. As of early March, the company’s app is live in 12 states, with 8 more on the way by the end of the year.
Its growth in Nevada and Macau is the largest in the country, providing increased supply of consumers for the companies. And while corporate profits hold an R-squared of 33% of the variation in Las Vegas Convention Attendance, other factors such as household wealth account for 71% of the variance in hotel occupancy. With a growing supply of consumers, MGM Resorts is a solid bet for long-term growth.
Churchill Downs
If you’re an investor in online sports betting, you should be aware of Churchill Downs’ recent developments. The company is focused on expanding its retail offerings, and its TwinSpires segment is among the largest horse race wagering websites in the U.S. In addition to online sports betting, Churchill Downs also has a significant presence in brick-and-mortar casinos in eight states, with more than 11,000 slot machines and 200 table games. The recent Supreme Court decision to legalize sports gambling outside of Nevada has also benefited Churchill Downs, as it is now allowed to operate online casinos in more than two dozen states.
The company is well-positioned to capitalize on the iGaming and sports betting market as it transitions from iGaming to traditional betting. In addition to its stake in the Kentucky Derby and Twinspires horse racing, Churchill Downs also owns multiple casinos and an online gaming platform, BetAmerica. The company is poised to attract new market players with solid financial fundamentals, and its ownership of TwinSpires and the Kentucky derby provides significant leverage. Combined, the two entities make for a promising integrated platform.
Boyd Entertainment
As an online sports betting operator with several locations throughout the country, Boyd Gaming may be among the best online sports betting stocks to own. Despite the recent slump in the economy, the company’s growth potential is unmatched. Not only does it have a diverse range of properties, but it also has a diversified portfolio. The company is well-positioned to benefit from the rebound in the sports betting market.
Conclusion
In addition to its existing sportsbooks in Nevada and online, the company has partnered with several companies to add new sportsbooks in casinos. Its existing sportsbook offers numerous betting options for U.S. and international events. In addition to offering a wide variety of sports events, the company also provides mobile betting and in-play sports betting options, including the B Connected Sports app. It is also working with Flutter Entertainment to add sportsbooks at its various casinos.