Key Players in the Sports Betting Stocks Market: DraftKings, Flutter Entertainment, and Penn Entertainment

Wednesday, 3 April 2024, 13:00

The U.S. sports betting industry has seen significant growth since the lifting of the federal ban in 2018. With states legalizing sports betting and generating tax revenue, the market is still in high-growth mode. DraftKings, Flutter Entertainment, and Penn Entertainment are well-positioned to capitalize on this growth, offering investors prime stock opportunities. Their expansion into online and in-person sports betting, along with strategic partnerships, makes them top contenders in a thriving industry with immense potential for further development.
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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.


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