Online sports betting is the new trend now. The legalization of such activity has been done in the US a few years ago. And based on projections, there will be an 11.4% CAGR or compound annual growth rate by the year 2028. Because of that, there is a vast growth opportunity of online gambling stocks that await numbers of investors.
If you are interested to bet on these sports betting stocks, here are the best ones that you can take the risk to put your bucks in.
Top 2 Sports Gambling Stocks
Let’s keep it straight to the point! DraftKings and Genius Sports are online sports betting stocks that outshine the rest. Let’s find out why:
Genius Sports (GENI)
A $1.9 billion cap gambling company, Genius Sports processes sports events information and apparently sells it to other gambling companies. It is actually the official partner NFL for collecting sports data. Initially, its share price was about $21.60.
Currently, the value of Get DraftKings, Inc. (DKNG) Report is about $13 billion. This is a gambling company that focuses on sports betting activity and iGaming. The legalization of online betting positively affects DraftKings’ expansion.
Being one of the biggest players in the industry, DraftKings has a top-rated app. It generally provides advanced functionalities and features making it more popular with gamers.