by Fred Fuld III
Last year, the Supreme Court came out with a decision that would allow betting on sports in all states, with each state determining whether or not to allow this form of gambling. Several have already legalized legalized online sports betting. Almost half the states are considering legislation. This should lead to more online gambling, and a transition from illegal gambling to legal betting.
Even NBC Sports Broadcaster Jim Kozimor mentioned in an interview back in September that sports betting will be an extremely strong growth industry.
So if you are looking for a way to profit from sports betting without betting on stocks, you should look at the stocks that should benefit from the online betting of sports.
FanDuel is the second largest daily fantasy sports provider and is anticipated to be a leader in the legal sports betting market. Thast year, FanDuel was taken over by Paddy Power Betfair (PDYPY), which trades on the London Stock Exchange in Britain and on the Pink Sheets in the US. This $6,6 billion market cap company trades at 20 times forward earnings and pays a favorable yield of 4.2%.
Boyd Gaming Corp. (BYD), an operator of a company that runs 16 casinos across the United States, has recently released its B Connected Sports app in order to take advantage of increased legalization. The stock trades at 29 times trailing earnings and has a forward price to earnings ratio of 17. It pays a small dividend of 0.8%.
The following is a list of over 20 companies that may benefit from online sports betting.
|Paddy Power Betfair||PDYPY||6.7 B||4.14%|
|MGM Resorts||MGM||14.9 B||1.87%|
|Gaesar’s Entertainment||CZR||6.3 B||0|
|Madison Square Garden||MSG||7.3 B||0|
|Penn National||PENN||2.6 B||0|
|Boyd Gaming||BYD||3.4 B||0.79%|
|Bragg Gaming||BRGGF||16 M||0|
|Churchill Downs||CHDN||3.8 B||0.58%|
|Stars Group||TSG||5.1 B||0|
|William Hill||WIMHY||1.9 B||9.58%|
|International Game Technology||IGT||2.8 B||5.76%|
|El Dorado Resorts||ERI||3.9 B||0|
|Scientific Games||SGMS||1.9 B||0|
|Wynn Resorts||WYNN||15.8 B||2.04%|
|Marriott International||MAR||45.7 B||1.21%|
|Millennial Esports||MLLLF||17 M||0|
|888 Holdings||EIHDF||731 M||5.13%|
|GVC Holdings||GMVHF||4.9 B||4.95%|
|Las Vegas Sands||LVS||51.9 B||4.59%|
Here’s hoping the stock you choose provide you with a big payoff.
Disclosure: Author did not own any of the above at the time the article was written.