Key Players in the Sports Betting Stocks Market: DraftKings, Flutter Entertainment, and Penn Entertainment
Overview
Optimists see money waiting on the table for businesses in this budding field. The sports betting business is hardly anything new. It's been done for decades now -- often illicitly.
Industry Growth
Ever since the U.S. Supreme Court lifted the federal ban on sports-based wagering back in 2018, the industry has grown even more. The Sports Business Journal reports that sports betting in the U.S. totaled nearly $121 billion last year, up 30% from 2022's tally of $93.3 billion.
State Legalization
Most states now permit some sort of sports betting, with a total of 38 states allowing sports-based wagering of some sort, although many only allow in-person wagering.
Prime Stock Opportunities
Investors have good reason to believe the sports betting business still has significant potential for growth. DraftKings, Flutter Entertainment, and Penn Entertainment are among the top companies positioned to benefit from this high-growth market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.