The landscape for sportsbooks has evolved fairly rapidly in recent years, driven in part by legal changes across the globe. Sportsbooks are typically structured such that bettors must risk more capital than they stand to win i.
Flutter Entertainment is a global sports betting and gaming operator with a portfolio of leading international brands and operations. In addition to its sportsbook, PaddyPower takes bets across other game-types in-person, over the phone, and online. DraftKings is a publicly traded daily fantasy and sports betting company headquartered in Boston, Massachusetts. Like Flutter, DraftKings leveraged the brand it built with consumers of DFS to move into sports betting more broadly in , when it became the first legal mobile sports betting operator in the state of Jersey.
The company continues to expand its digital footprint into iGaming via DraftKings Casino. Notably, gambling was not legal in Britain at the outset. In , the company announced that then CEO Philip Bowcock would be replaced by former chief digital officer Ulrik Bengtsson as a part of its broader initiative to increase focus on online and international opportunities , citing the evolving US sports betting landscape as a key opportunity.
Traditional casinos are well positioned to capitalize on the opportunity presented by the legalization of sports betting across the country. The operational experience associated with running sportsbooks historically where legal combined with the extensive network of gambling properties in states where sports betting either was recently legalized or will be legalized in short order offers a distinct advantage versus upstarts.
Additionally, strong brands within gambling and existing customer bases should help cultivating a digital sports betting presence over time. Casino operators tend to earn their highest margins on table games and slots versus their sportsbooks. Penn National Gaming is a diversified operator of gaming and racing properties and video gaming terminal operations.
The company offers sports betting at its properties in Indiana, Iowa, Mississippi, Nevada, Pennsylvania and West Virginia, and operates an iGaming division through its subsidiary, Penn Interactive Ventures. In February , the company completed the acquisition of a minority stake in Barstool Sports, a leading digital sports and media platform. Barstool Sports: Dave Portnoy founded Barstool Sports in , operating as a primarily print enterprise until when it launched on the internet.
Exactly how the combined entity manages their sportsbook over the longer term is yet to be ironed out. The transaction is still awaiting regulatory approvals from a few major regulatory bodies, having most recently received approval from the Federal Trade Commission FTC.
The company subsequently entered into a second sports betting partnership with The Stars Group. Caesars: Private-equity backed Caesars Entertainment operates 34 properties across nine U. In addition to their U. Perhaps more importantly, the company maintains a database of casino customers via its Caesar Rewards program, an invaluable asset as sports betting and gaming more broadly increasingly transition online.
Technology plays a crucial role in maintaining a compelling sports betting offering. To that end, there are companies that offer turn-key solutions to gaming companies interested in building and maintaining a competitive offering in the space. GAN - or Game Account Network - is a global technology provider to the online gaming and sports betting industry. Founded in and listed on the London Stock Exchange in , the company got its start providing technology for games-of-skill, later expanding to offering full gaming software systems and becoming an industry leader in online gaming.
Still the trend seems to be increased legalized sports betting via online and mobile apps across more and more states. So, what are the best ways for investors to capitalize on this huge trend? DraftKings might be one of the best pure plays if you wish to invest in the future of online gaming. While a number of traditional gaming companies that still own huge casinos in places like Las Vegas are also capitalizing on the increasingly mobile betting space in new states, DraftKings is born of and participates in the new era of legalized sports betting.
While the company is still not profitable as it focuses on market share and growth, the company looks to become profitable in the years ahead. MGM along with other traditional casino stocks took a beating in with the collapse of tourism and travel.
BetMGM is operational as a digital gaming platform in a number of states and continues to grow. Penn National Gaming became a household name for young sports fan due to its acquisition of Barstool Sports early in Barstool Sports has a rabid following of young sports fans making it a prime acquisition target looking for a foothold for the next generation of sports bettors.
Penn does have actual casinos and betting locations in various locations around the country, but it is obviously looking to digital as its main growth prospects of the future. Caesars, like MGM, is a traditional casino company that is looking to capitalize on the next era of sports betting in the U.
GAN stands for GameAccount Network and is a company that provides software and back-end services to casinos and gaming companies. As an investor, I do like participating in companies that are leaders in expanding and growing spaces. Sure you could own the best company in a declining category e. Sports betting is indeed that. While digital continues to encompass more and more of our lives through things like food delivery Door Dash, Uber Eats , household goods delivery Amazon , entertainment Netflix , transportation Uber , radio and audio entertainment Spotify , is it really such a surprise that sports betting should also get dominated over time by digital platforms?
You might think of it similar to the choice between going to a movie theater or staying home and watching Netflix. Travel, tourism and conventions are still struggling mightily, so traditional casino operators are going to rely heavily on future growth to come from digital.
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Between its Las Vegas casino presence, the ability to grow regional sportsbooks, and expanded media ties with the ownership of William Hill, Caesars has put itself at the forefront for capitalizing on growth in legal sports betting in the U. Flutter Entertainment may not be a household name, because it is based outside the U. But investors should get comfortable with this international stock, as it has a large cash flow base it is using to expand what is more of a household name in this country.
Flutter is the owner of FanDuel, one of the best known fantasy sports and online sports betting apps in the U. At close to four times sales, and with a base of businesses much larger than just FanDuel, Flutter has cash flow it can use to continue to build its U. FanDuel has a partnership with U. Boyd operates 29 casinos in 10 states, with FanDuel retail sportsbooks helping to grow its online customer base.
FanDuel, in Flutter's U. These divisions can funnel cash to the U. F is less so. Yet the sports betting and online gambling app that was launched in March is growing. New partnerships with professional sports teams , including the NFL's Denver Broncos, Las Vegas Raiders, and Tennessee Titans, will help connect the retail casino presence to the online customer base.
Restrictions from the pandemic have severely affected the majority of MGM's business. A recovery in the retail casino business has to be part of the investment thesis. If the casino business recovers successfully, MGM should have another growth engine in its future with its online betting app. A bet on Caesars and MGM Resorts must include the belief that the retail casino operations recover to pre-pandemic levels.
But knowing there is also a strategy under way to grow their sports betting presence makes it a good time to make that bet. Flutter gives investors a stake in FanDuel's U. With 18 states having already legalized sports betting, and the upcoming election likely to add more, investing in these three players may make a very timely long-term bet. Investing Best Accounts.
Stock Market Basics. Stock Market. Industries to Invest In. Getting Started. A state-by-state look at the status of legal sports betting, and which states stand to become major challengers to the betting markets in Nevada and New Jersey. Which media companies are partnering with sportsbook operators in rapid succession, as well as how the largest players in gambling are handling this new economic territory. The potential dangers posed by the legalization of sports betting, given several ways in which gambling captivates consumers and athletes alike.
You will be redirected back to your article in seconds. Click to expand the Mega Menu. Have a news Tip? Click to Expand Search Input. Log in. Click to Login Login. Subscribe Log in. February 1, am PT. Read on to learn about: 1 A state-by-state look at the status of legal sports betting, and which states stand to become major challengers to the betting markets in Nevada and New Jersey.
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