Sport in general is among the most favorite pastime activities of an average modern human being. As a matter of fact, it has been this way for hundreds of years. Sports as activities in which people compete are an ancient invention, as there are records of all the major civilizations long gone playing competitive sports and competing against each other in multiple disciplines. Right alongside these fun and challenging activities themselves, another one was taking shape, known today as sports betting.
You simply cannot ignore the innate feeling of people to cheer on and become excited when teaching sports. What is more, those who are really sure in their predictions and knowledge like to back it up with a wager and to win some money in the process when the outcome they deemed most likely to happen wins. Sports betting is an enormous industry in modern sports, and there are no sings that it will ever stop. The sponsorships and collaborations involved nowadays are crucial both for the betting organizations and for the professional teams alike. It is all one big system that functions well on all cylinders.
If you are looking to get in the game, you have to know the basics. Lucky for you, this article has everything you need to know about sports betting operator stocks and sportsbooks. If you are looking to become a part of one of the leading online sportsbook brands in the United States, make sure to check out gamblecolorado.com. Placing wagers on your favorite teams and possible outcomes is made fun and easy with them. On the other hand, following is a list of the best sports betting operator stocks you should consider buying right now.
You have probably seen the logo everywhere and there is a high chance you have already dealt with them if you are a passionate sports gambler. The market value if this public company is $18.9 billion, and their stock right now is $60.11 (DKNG). YTD return sits at over 200%, meaning it is among the best stocks in this field to invest in. This stock competes in the online gaming industry which is one of the most lucrative branches of entertainment on the planet. Everyone recommends the investors to buy the stocks as the surrounding circumstances and potential are quite favorable. One of the special advisors to the company is none other than Michael Jordan, and you know his history of smart business deals.
2. Flutter Entertainment
This company actually planned a merger with DraftKings about three years ago, but the deal failed. That, nor the pandemic, did not hurt Flutter which has a YTD return of 36.1%. The market value of this sports betting operator is $25.6 billion, and the stocks go for around $190 (FLTR). All you really have to know in order to realize the potential they have is this. In the first six months of 2023, Flutter held 44% of the market share in the US states where it does online sports betting. The two states it does online gaming in have yielded a 27% market share. Go ahead and invest in these stocks as soon as possible.
3. MGM Resorts
The physical brick and mortar casinos that are still the majority of MGM’s gambling and betting operations have suffered great losses in 2023 due to COVID. However, their recent moves caused a lot of optimism among experts and investors. Their market value sits at around $11 billion and the MGM share goes for $30. The conglomerate is now the official sports betting partner of the NFL team Detroit Lions. What is more, it is also the official sports betting partner of the Las Vegas Raiders, another NFL team. CEO of MGM Resorts Bill Hornbuckle is making big moves towards a safe sports betting firm for the multi-platform entertainment company, and the future is bright. Another clear indication is that in 2023 alone, BetMGM generated more than $130 million, 18% of which is from the iGaming industry.
4. Penn National Gaming
The next entry on our list of the best sports betting operators to invest in is Penn National Gaming, with a market value of just under $10 billion. Their YTD return is one of the largest at 173.3%, and the stocks sell for $109 (PENN) right now. The company is famous for their 31 racing and gaming properties in 19 American states. Their newfound focus is firmly set on sports betting and an online presence. They have a 36% stake in Barstool Sports, and hold live sports betting in West Virginia, Pennsylvania, Mississippi, Iowa, Michigan, and Indiana. In 2023, they launched the Barstool Sportsbook app, which has 21,000 downloads each day in the first week after the launch. In August alone, their revenue from sports betting was $365 million. Overall, these are things the investors want to hear and that the experts have come to expect from the company.
5. Churchill Downs
Let us finish things with something more gentlemen-like and traditional, and yet the most intriguing in the world of sports betting. The hosts of the famous Kentucky Derby have market value of over $6.7 billion, and the YTD return on their stocks is 23.7%. CHDN stocks right now sit at $203, and despite the circumstances in the world and the fact they organize live events, they are doing more than fine. In September of 2023, they hosted the 101st Kentucky Derby race, the famed first leg of the prestigious Triple Crown in horse racing. Although there weren’t any fans in the stands, the race was held and the bets placed. The owners of the stocks are accustomed by now to favorable stocks, since in the last ten years the CHDN shareholders have had annual returns of around 30%. They have managed to remain so successful thanks to their smart business moves that came in the shape of diverse revenue streams like online horse race wagers, iGaming, and online sports betting. Their BetAmerica platform and casinos in eight different states also have a lot to do with the aforementioned success.