I’m a sports nut.
I track it back to my early days as a sports reporter writing about everything from college football to high school softball.
So, when sports finally returned after some uncertainty following the COVID-19 outbreak last year, I was pretty darn excited.
I wasn’t alone.
A small group of companies breathed a collective sigh of relief as the NFL, NBA, college football and other sports returned to the limelight.
These companies focus on one thing: sports betting.
In 2018, sports betting was legalized in the U.S. after the Supreme Court struck down a law banning the practice. It gave states the right to legalize sports betting.
Now, betting on sports is legal in more than two dozen states, and all but three states have some form of legislation in the works.
The question now is whether investing in sports betting stocks is worthwhile.
In this episode of The Bull & The Bear, I look at four of the biggest players in sports betting and tell you whether you should gamble on them or not.
The Explosion of Sports Betting
In the past, betting on sports was confined to smoke-filled rooms in the back of Las Vegas casinos.
Now, you can place a bet using your smartphone on anything from who will win a game to who will score the first points … and just about everything in between.
Sports Betting Revenue to Triple by 2025
Projections show that sports betting will bring in $2.5 billion in revenue in the U.S. this year, with expectations to grow to around $8 billion by 2025.
And there are publicly traded companies at the forefront of this sports betting explosion.
The stock prices of those companies have taken off … reaching new highs.
Let’s see if four of the biggest sports betting stocks are more than just a gamble for your portfolio.
The Bull & The Bear
Led by Adam O’Dell and a team of finance journalists, traders and experts, Money & Markets gives you the information you need to protect your nest egg, grow your wealth and safeguard your financial well-being.
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Research Analyst, Money & Markets
Matt Clark is the research analyst for Money & Markets. He’s the host of our podcast, The Bull & The Bear, as well as the Marijuana Market Update. Before joining the team, he spent 25 years as an investigative journalist and editor — covering everything from politics to business.