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Which Stocks to Choose to Invest in Online Gambling?

 

December 18, 2020 (Investorideas.com Newswire) We would all want to own the next Facebook, Google, or Netflix. These heavyweights have secured enormous returns for their shareholders. However, each of these companies was new to their respective niches at some point. People who could recognize the massive potential have turned their lives upside down with the fortunes they made.

With online gambling on a massive growth as an industry, there are numerous opportunities well worth taking advantage of in terms of the stock market prices. You might not be looking at a new Amazon, but some of the online gambling companies we are about to discuss could potentially make you much richer in the future.

DraftKings

With so many betting types on the menu, it is no wonder DraftKings are arguably the most popular sports betting operator in the United States. The company began its adventures as a Daily Fantasy Sports site, but the 2018 annulment of the controversial PASPA opened up an ocean of opportunities for the operator to shine across bountiful states.

DraftKings took advantage by jumping onto several significant online gambling markets, including Pennsylvania and New Jersey. Armed with a strong partnership with the NFL (arguably the biggest professional league in the country) and an enormous customer base of Daily Fantasy Sports enthusiasts, the DKNG stock is probably the best-positioned property in the ever-growing and opportunistic American market.

Flutter Entertainment

FanDuel is probably the only sports betting operator capable of matching DraftKings' heights. The two giants got very close to merging just years ago, but the Federal Trade Commission stopped the transaction just before the finish line. Instead, FanDuel merged with Paddy Power Betfair U.S. in 2018. To finally provide a connection between these several lines and the subtitle, Paddy Power Betfair changed its name to Flutter Entertainment in 2019.

One year later, Flutter Entertainment completed another breakthrough move by teaming up with the Stars Group, operators of the biggest online poker room on the planet, PokerStars. As a consequence, Flutter Entertainment held as much as 44% of the online sports betting market share in the first half of 2020 in the five states that have legalized sports betting. Following the trend of the online sports betting legalization across America, we only have reasons to expect the company's further expansion in the months and years to come.

Penn National Gaming

Unlike the above-mentioned Daily Fantasy Sports giants, Penn National Gaming have gained significant popularity on the back of 41 gaming and racing properties across the United States. They are certainly considered big hitters with a $9.6 billion market value and a 173.3% YTD return. To make it even more attractive for their future shareholders, Penn National Gaming have shown an increasing interest in sports betting as well.

The company already has live sports betting in Pennsylvania, Michigan, Indiana, Iowa, West Virginia, and Mississippi. Nevertheless, they have recently partnered with Barstool Sports aiming to conquer the industry by a storm. The operator is already live in Pennsylvania and has done everything to secure entrance in the newly-opened Coloradan sports betting market. With a massive potential derived from several distinct gambling branches, Penn National Gaming are certainly among the best companies to invest in at this stage.

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