Morgan Stanley’s analyst estimates that sports betting will represent about $2 billion of the $120 billion U.S. Gaming revenue, and that if both Boyd and Penn can nab a 10% market share, they. Sports Betting ETFs, Stocks to Surge on More Legalization Nov. 5, 2020 at 10:05 a.m. ET on Zacks.com ETFs to Soar on Resurgence in Coronavirus Cases. It’s also the only pure-play sports betting stock because the others have major casino operations. That gives DKNG the cleanest balance sheet: zero debt — a rarity in the gambling industry. The company started in 2012 as a fantasy-sports company and launched its Draftkings Sportsbook betting service in August 2018. Even NBC Sports Broadcaster Jim Kozimor mentioned in an interview that sports betting will be an extremely strong growth industry. So if you are looking for a way to profit from sports gambling, you should look at the stocks that should benefit from the online betting on sports events. DraftKings is one of the largest pure plays in the online.
Wow, what a week. Things went from Election Day to Election Week, culminating with Democrat Joe Biden becoming the 46th President of the United States of America.
But Americans didn’t just vote for a new president – a few states also voted to legalize sports betting, which also created some buzz on Wall Street. But Election Day wasn’t kind to everyone, looking at you, Ohio.
But don’t worry, PlayUSA has you covered. So strap in; we have some important issues to cover.
On the rewind:
Election Day big for online gambling stocks
The big winners are Election Day, in terms of sports betting, were Louisiana, Maryland, South Dakota – and online gaming stocks. Following the November 3rd frenzy, a handful of gaming stocks including DraftKings and Penn National Gaming saw an uptick on Wall Street.
According to Bloomberg, the morning after election day, online sports betting stocks rallied.
A trio of states legalizing sports betting is great news for companies looking to expand their digital footprint. DraftKings’ stock has been generous to early investors while the emergence of the Barstool Sportsbook has, so far, become an asset for Penn National.
Louisiana will be a tremendous asset to operators who can find footing in the South, especially for NCAA betting.
Maryland is yet another East Coast state surrounded by other sports betting markets like Deleware, New Jersey, and Pennsylvania. Properties like MGM National Harbor, which sits right across the Potomac River from Washington, D.C., should benefit tremendously.
South Dakota on the other hand, only legalized sports betting within the city limits of Deadwood near the Wyoming border. It may not be the most attractive of the three but there are already discussions brewing about online gaming.
The takeaway: The US is steadily embracing sports betting. This means online gaming stocks should continue to see steady gains on Wall Street. But financial analysts are still hesitant to jump completely on board. Some say as many as 20 states need sports betting with 3-4 years of operating data before any concrete value can be placed.
Ohio sports betting just got trickier
Election Day creates two things, winners and losers. This time around, three key supporters of Ohio sports betting were on the losing side.
In Ohio’s 16th District, Rep. Dave Greenspan lost re-election to Democrat Monique Smith. Over in the 32nd District, Republican Sandra O’Brien ousted incumbent Sen.Sean O’Brien, a Democrat. And lastly, Sen. John Eklund was unfortunately termed out.
The loss of Greenspan, O’Brien, and Eklund means, for now, three fewer votes in support of a sports betting bill.
“The governor has said repeatedly that sports betting in Ohio is inevitable,” Dan Dodd, former State Rep. and VP of Gov. Relations at ZHF Consulting toldLegal Sports Report.
“People will pick up the flag and move forward next session. I just don’t know who they will be yet,” he said.
The takeaway: Losing three supporters isn’t a good start. But perhaps Dodd is right. Maybe others will pick up the sports betting banner and charge into Columbus during the lame-duck session and pass a bill. But maybe not. But what’s for certain are the governor’s remarks that sports betting is inevitable. All the state has to do is figure out which government entity will run sports betting when it finally does arrive.
Betting apps we expect to see in Michigan
Our last topic provides a bit of optimism for Michigan sports betting. But the big question in the Wolverine State is, when will online sports betting launch?
While there is no exact launch date just yet, we can provide an educated guess as to which operators you can expect.
Michigan has 15 casino operators, each capable of partnering with one sports betting platform and most already have deals in place.
Some of the sportsbooks you can expect to see include:
FanDuel Sportsbook
DraftKings Sportsbook
Barstool Sportsbook
BetMGM Sportsbook
Some of these operators already have retail sportsbooks like FanDuel at MotorCity Casino in Detroit. So it’s safe to assume a mobile app will follow. While there are only three commercial casinos, there are a number of tribal properties spread across Michigan. With that in mind, don’t rule out other operators like William Hill, FOX Bet, Pointsbet, and BetRivers.
The takeaway: Michigan residents just need to be patient. Soon, the state will be a hotbed for sports betting and online casino gaming, which experts anticipate will bring in hefty amounts of tax revenue for the state. It’s also safe to assume residents will have upwards of 15 different options for mobile sports betting so start doing your homework.
While everyone is looking to the renowned stocks that have been in the exchange market for decades, some investors are shifting their focus on the online iGaming industry.
Most of us have by now tried betting on sports or playing online casino games. Recently, this is one of the industries that have been escalating at an alarming rate across the globe.
Besides the level of new gaming technology like mobile casinos, and live dealers giving this industry much support for visibility, the introduction and legalization of gambling in most countries have also contributed to its growth. But have you ever thought of investing in this industry as an investor?
Well, it is quite easy, and online casino is a fast-growing market as more and more countries legalize iGaming on the internet. From Canada, Sweden, China, the US, to the UK, the stocks might turn out to be a good investment. Here are ten iGaming stocks that everyone can invest in (this being intended exclusively for information purposes):
1. Ladbrokes – GP.22
Best Online Sports Gambling Stocks
This is another gambling stock that you can invest in that is on the London Stock Exchange. It is a benchmark in the United Kingdom when it comes to online betting. It is one of the most solid companies across the globe in this industry that has made its stocks very stable. After a close analysis of its 10 years in the stock market, experts call it a conservative investment.
2. NetEnt – NETB
This is another high-quality software provider in the virtual casino world. Every tester in Canada, usually go to this company as a quality seal. Although this company joined the gambling sector a little bit late compared to the others, it has been at the forefront when it comes to online casinos and popular slots. Its stocks in the Stockholm Stock Exchange has been doing well after overcoming stiff competition from the other companies in the market.
3. Stars Group – TSGI
Have you ever heard of PokerStars? This is the head and the hub of some of the largest poker sites across the globe. On the internet, it is one of the best gambling companies when it comes to its coverage. With its expertise in the field, it has positioned itself as one of the leading and key players in this industry. But, its stock and shares in the market have been volatile. It is on the Toronto Stock Exchange and it is good for the professional traders.
4. LeoVegas – LEO.ST
Over the past five years, this has been one of the most successful gambling company in Sweden. One of the things that giving LeoVegas a footing in online gambling is its smartphone casinos with the most popular one being Leo Vegas Casino. It has been making it possible for gambling fanatics to play their favorite online slots using their mobile phones. It is on the Nasdaq Stock Exchange.
5. Kindred Group – KIND-SDB
Best Online Sports Gambling Stocks
These stocks and shares from the Kindred Group are on the Stockholm Stock Exchange. It is one of the great companies with various betting sites revolving around sports, online casinos, bingos, and poker. Unibet happens to be the trademark of the Kindred Group which so is the largest betting site in sports globally.
6. Caesars Entertainment Corporation – CZR
For many years, this has been a landmark in the gambling industry. It has recently turned out to be one of the most interesting stocks to put your money. It is one of the leaders in the gambling industry that most investors are watching and aspiring to invest in.
Online Sports Betting Companies Stocks
7. MGM Resorts International – MGM
Top Online Sports Gambling Stocks
If you are a conservative investor and don’t want risks around you, then you can decide to go with MGM. It is trying to get to US betting which will definitely spearhead its stocks and entire market share. It is one of the gambling stocks that has a great presence in China and has been doing well from one year to another.
8. Scientific Games – SGMS
It is one of the stocks that have gained online dominance and beat stiff competition around online casino gaming. It has been a significant company in providing digital gaming services, content, and products. As an infrastructure provider, it has all the chances of growth in this market making it a good stock to watch.
9. International Game Technology – IGT
This is another innovative casino gaming company that is increasing and expanding its digital gaming expertise across the globe. Its live streaming avenue of Dynasty Electronic Table Game (ETG) will provide more games for its players like blackjack and the famous baccarat. With such kind of innovations, definitely, its stock will grow to make it a great gambling stock to put your money in.
Online Sports Gambling Stocks
10. Playtech – PTEC
This Israel based software developer is one of the popular casino software providers across England. It has its stock listed on the London Stock Exchange. Playtech is an expert in online casino gaming has released over 500 games. It uses some of the most advanced technology in virtual casinos. Considering the vast and fast growth of the gambling industry, if you are an active investor, then you can consider one of the above gambling stocks.
DISCLAIMER:
Online Sports Gambling Stocks
News, data and statement included in this article is intended exclusively for information purposes.
It should not be considered a recommendation for the purchase, retention, or sale of the securities referred to herein.