Investing in stocks of companies in the betting industry can offer a long-term strategy for making money. While betting is a popular way to earn money, investing in stocks can produce higher returns if the right stocks are purchased and the market remains favorable. It is essential to bear the risk of losing capital when investing in the stock market, which is an inevitable part of the betting industry.
With the legalization of sports betting in the US in 2018, the online betting industry has been booming, leading to its consistent growth. According to the recent Sports Betting Market Size & Share Analysis Report, the global sports betting market was valued at $83.65 billion in 2022, and the market is continually expanding.
Still, investing in stocks involves potential risk, and investing in the right companies is vital. Flutter Entertainment, a leading operator in the UK and Ireland, has a profitable business and a vast customer base, offering sports betting and gaming services in the UK, Ireland, the US, and Australia. Flutter Entertainment stocks are worth investing in as they remain leaders in the betting segment, backed by their brands’ credibility.
Penn Entertainment is another company offering sports content and casino gambling that has seen tremendous growth in recent years, making it a top player in the US betting market. With a year-on-year revenue increase and expanding business opportunities, Penn Entertainment is an excellent option for investing.
MGM Resorts partnered with Entain to launch BetMGM, an online betting platform, and expanded their offering of mobile sports betting to 13 states since the legalization of sports betting in 2020. The company’s constant growth in the number of states it serves makes MGM Resorts’ stock worth buying.
DraftKings, a popular choice when buying betting stocks, has proved its mettle in the industry with rapid expansion since its reverse merger with a special purpose acquisition company (SPAC) in 2020. The company’s solid prospects and longevity make it a viable option when buying betting shares.
Roundhill Sports Betting & iGaming ETF is a newer player in the sports betting and online gaming world but is a good pick for diversification. It gives access to a wider range of markets and oversees the performance of the Roundhill Sports Betting & iGaming Index, which consists of a collection of stocks for companies involved in the betting and iGaming industry.
In conclusion, investing in a company that has a good standing in the market and strong future prospects is crucial. There are several betting share options available, making it a good long-term strategy within the betting industry.
