3 Best Sports Betting Stocks in Light of Next Week's Super Bowl

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Three years ago, the U.S. Supreme Court struck down the federal ban on sports gambling and left it up to state governments. Many states have legalized sports betting or have begun the process of making it happen. 

Penn National Gaming Inc. (NASDAQ: PENN), DraftKings Inc. (NASDAQ: DKNG), Boyd Gaming Corporation (NYSE: BYD), Roundhill Sports Betting & iGaming ETF
Depositphotos.com contributor/Depositphotos.com – MarketBeat

That could mean some serious coin in your pocket if you live in one of the states that allows it — in the form of sports betting stocks. 

the latest tech news, global tech news daily, tech news today, startups, usa tech, asia tech, china tech, eu tech, global tech, in-depth electronics reviews, 24h tech news, 24h tech news, top mobile apps, tech news daily, gaming hardware, big tech news, useful technology tips, expert interviews, reporting on the business of technology, venture capital funding, programing language

Since the Super Bowl is imminent (Rams vs. Bengals — next weekend, just in case you weren’t aware), it’s important to note that the NFL makes up nearly half of all sports bets placed in the U.S. The Super Bowl is the most popular betting opportunity each year.

Where is Sports Betting Legal in the U.S.?

Take a look at the list of states where sports betting is currently legal. As it spreads throughout the U.S., more opportunities may come to you to both, directly and indirectly, invest in sports betting.

Global Tech News Daily

Legal

Not Legal

Global Tech News Daily

Alabama

Alaska

Arizona

California

Arkansas

Georgia

Colorado

Hawaii

Connecticut

Idaho

Delaware

Kansas

Florida (though lawsuits in court have held up the sports betting ruling legalizing it)

Kentucky

Illinois

Maine

Indiana

Massachusetts

Iowa

Minnesota

Louisiana (though mobile betting isn’t currently allowed)

Missouri

Maryland

North Dakota

Michigan

South Carolina

Mississippi

Texas

Montana

Utah

Nebraska

Vermont

Nevada

 

New Hampshire

 

New Jersey

 

New Mexico

 

New York

 

North Carolina

 

Ohio

 

Pennsylvania

 

Rhode Island

 

South Dakota (though mobile betting isn’t currently allowed)

 

Tennessee

 

Virginia

 

Washington

 

Washington, D.C.

 

West Virginia

 

Wisconsin

 

Wyoming

 

3 Sports Betting Stocks to Consider Right Now

Ahead of the Super Bowl, consider these three stocks for purchase, especially if you’re leery of directly betting yourself. Instead, why not invest in the companies that make money off of people who will gamble big money? Here’s how you might want to play the game.

Penn National Gaming Inc. (NASDAQ: PENN)

Penn National Gaming Inc. owns and manages gaming and racing facilities and video gaming terminal operations for retail and online gaming, live racing and sports betting entertainment, including slot machine entertainment. It focuses on retail sports betting, online social casino, bingo and iCasino products. It acquired Score Media and Gaming Inc., a Canada-based digital media and sports betting company, for $2 billion. 

Penn National Gaming operates on 44 properties across 20 states, with the following Q4 highlights as of December 31, 2021:

  • Revenues: $1.6 billion, an increase of $545.1 million year-over-year and $231.3 million over 2019.
  • Net income: $44.8 million, an income margin of 2.8%, compared to last year’s net income margin of 1.2% and net loss margin of 6.9% in 2019.
  • Earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR): $480.5 million, an increase of $115.1 million year-over-year compared to 2019’s $81.1 million.
  • Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA): $369.0 million, an increase of $113.1 million year-over-year and $65 million over 2019.

Analysts expect Penn National Gaming’s sales and adjusted earnings to grow further in 2022.

DraftKings Inc. (NASDAQ: DKNG)

DraftKings Inc., headquartered in Boston, is a digital sports entertainment and gaming company and provides customers with daily sports, sports betting and iGaming opportunities as well as licensing sports betting and casino gaming platform software for online and retail through various channels, including traditional websites and direct app downloads, as well as direct-to-consumer digital platforms.

In Q3 2021, DraftKings reported revenue of $213 million, an increase of 60% compared to 2020. Monthly unique payers increased by 31% and average revenue per monthly unique payer grew by 38%. 

DraftKings Marketplace has lots of irons in the fire, including this tiny snapshot:

  • Polygon, an Ethereum-based scaling platform 
  • Micro-betting across the DraftKings Sportsbook
  • Multiyear relationship with the National Basketball Association, which grants DraftKings expansive NBA rights and assets to integrate within its sports betting, daily fantasy sports, iGaming and free-to-play products and promotional offerings.

DraftKings stock offers solid long-term prospects sports betting, though it did fall short of targets last year. It has strong revenue growth and leads the online betting trend. 

Boyd Gaming Corporation (NYSE: BYD)

Boyd Gaming Corporation, headquartered in Las Vegas, manages and operates gaming and entertainment properties with a portfolio that includes hotels, casinos, breweries, resorts and spas. 

Boyd Gaming Corporation currently owns and operates 28 gaming properties in 10 states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania.

The company finished 2021 with record quarterly performances across every segment of its operations. Boyd Gaming reported Q4 results as follows: 

  • Revenues of $879.8 million, up 38.4% from $635.9 million in Q4 2020. 
  • Net income of $109.8 million, or $0.96 per share, for Q4 2021, compared to $83.3 million, or $0.73 per share for 2020.
  • Total adjusted EBITDAR of $347.3 million in the Q4 2021, increasing 65% from $210.5 million  in Q4 2020. 
  • Adjusted earnings for Q4 2021 of $154.3 million, or $1.35 per share, compared to $51.9 million, or $0.46 per share, for the same period in 2020. 
  • Adjusted EBITDAR margins were 39.5% in Q4 of 2021, increasing from 33.1% last year.

Boyd Gaming consistently remains a staple in the casino industry and the sports betting market. 

Consider Sports Betting Stocks Ahead of the Super Bowl

As sports betting continues to burst in popularity and as it continues to expand at the state level, it offers some major investment opportunities, particularly with app-based betting options. If you’re nervous about investing in stocks, consider ETFs like the iBET Sports Betting and Gaming ETF (NYSEARCA: IBET) or the Roundhill Sports Betting & iGaming ETF for instant diversification.  

News Related

OTHER NEWS

Soaring refining margin bodes well for oil firms

The industrial complex in the southern port city of Ulsan where production bases of Korea’s major petrochemical companies are located (Yonhap)South Korean oil refiners’ key profitability measure has been rising ... Read more »

Buckle (BKE) Gains As Market Dips: What You Should Know

Buckle (BKE) closed at $37.24 in the latest trading session, marking a +1.36% move from the prior day. This change outpaced the S&P 500’s 0.37% loss on the day. – ... Read more »

AutoNation (AN) Dips More Than Broader Markets: What You Should Know

In the latest trading session, AutoNation (AN) closed at $103.57, marking a -0.46% move from the previous day. This change lagged the S&P 500’s 0.37% loss on the day. – ... Read more »

FuboTV Inc. (FUBO) Stock Moves -0.3%: What You Should Know

fuboTV Inc. (FUBO) closed at $10.07 in the latest trading session, marking a -0.3% move from the prior day. This change was narrower than the S&P 500’s 0.37% loss on ... Read more »

Fiverr International (FVRR) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Fiverr International (FVRR) closed at $81.01, marking a -0.52% move from the previous day. This change lagged the S&P 500’s daily loss of 0.37%. – ... Read more »

Sterling Construction (STRL) Gains As Market Dips: What You Should Know

Sterling Construction (STRL) closed at $27.51 in the latest trading session, marking a +1.63% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »

Boise Cascade (BCC) Gains As Market Dips: What You Should Know

Boise Cascade (BCC) closed at $77.20 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »

CRISPR Therapeutics AG (CRSP) Gains As Market Dips: What You Should Know

In the latest trading session, CRISPR Therapeutics AG (CRSP) closed at $62.36, marking a +0.76% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.37%. ... Read more »

Bausch Health (BHC) Dips More Than Broader Markets: What You Should Know

Bausch Health (BHC) closed the most recent trading day at $24.39, moving -0.53% from the previous trading session. This move lagged the S&P 500’s daily loss of 0.37%. – Zacks ... Read more »

ETF Strategies to Consider for February as Fed's Rate Hike Nears

Wall Street has been mostly kind to investors so far in February after a tough January. Market participants are upbeat about improving U.S. economic conditions as reflected by encouraging fourth-quarter ... Read more »

Bank of Nova Scotia (BNS) Gains As Market Dips: What You Should Know

Bank of Nova Scotia (BNS) closed at $73.75 in the latest trading session, marking a +0.78% move from the prior day. This move outpaced the S&P 500’s daily loss of ... Read more »

Fox (FOXA) to Report Q2 Earnings: What's in the Offing?

Fox FOXA is set to report second-quarter fiscal 2022 results on Feb 9.For the quarter, the company’s current Zacks Consensus Estimate for earnings is pegged at breakeven against a loss ... Read more »

Generac Holdings (GNRC) Gains As Market Dips: What You Should Know

In the latest trading session, Generac Holdings (GNRC) closed at $279.97, marking a +0.01% move from the previous day. This move outpaced the S&P 500’s daily loss of 0.37%. – ... Read more »

Spirit And Frontier Announce $6.6 Billion Merger

Spirit Airlines Incorporated (NYSE:SAVE) and Frontier Group Holdings Inc (NASDAQ:ULCC) have announced a $6.6 billion merger to create one of the largest low-cost airlines in the U.S. The new airline ... Read more »

First Trust Energy AlphaDEX Fund (FXN) Hits a 52-Week High

The First Trust Energy AlphaDEX Fund FXN is probably a suitable pick for investors looking for momentum. FXN hit a 52-week high and is up 59.6% from its 52-week low ... Read more »

Meta Threatens To Close Facebook And Instagram In Europe Over Data Scramble

In a document filed with the U.S. Securities and Exchange Commission (SEC), Meta Platforms Inc (NASDAQ:FB) has warned it could be forced to close Facebook and Instagram in Europe if ... Read more »

Stock futures inch higher after S&P, Nasdaq fall to start the week

U.S. stock index futures crept higher during overnight trading Monday, after the major averages moved between gains and losses during regular trading as the market awaits key inflation data later ... Read more »

How a To-Don't List Can Help You Achieve Your Goals

To-do lists are helpful tools for many people, but they can quickly take over our lives, making daily living feel like just another item to cross off of a never-ending ... Read more »

Immunovant (IMVT) Reports Wider-Than-Expected Loss in Q3

Immunovant, Inc. IMVT reported a net loss of 36 cents per share in the third quarter of fiscal 2022 (ended Dec 31, 2021), wider than the Zacks Consensus Estimate of ... Read more »

Buckle's (BKE) Sales Run Continues in January, Comps Gain 4.2%

The Buckle, Inc. BKE looks well poised on the back of its robust strategic efforts, including strength in e-commerce business and an impressive sales trend. BKE has been putting up ... Read more »

6 Best-Leveraged ETF Areas of Last Week

Wall Street put up a moderate show last week with the S&P 500 (up 1.6%), the Dow Jones (up 1.1%), the Nasdaq Composite (up 2.4%) and the Russell 2000 (up ... Read more »

Interpublic (IPG) to Report Q4 Earnings: What's in the Cards?

The Interpublic Group of Companies, Inc. IPG is scheduled to report fourth-quarter 2021 results on Feb 10, before the opening bell. – Zacks Let’s check out how things have shaped ... Read more »

Mednax (MD) Buys Night Lite Pediatrics to Boost Portfolio

Mednax, Inc. MD and its affiliated practices Pediatrix Medical Group recently acquired Night Lite Pediatrics, LLC in Orlando, FL. Night Lite is a private 13-clinic pediatric urgent care practice. The ... Read more »

Best Growth Stocks to Buy for February 7th

Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, February 7th: – Zacks Apple AAPL: This company whose business primarily runs around its ... Read more »

Gol Linhas (GOL) Stock up 16.2% in a Month: More Upside Left?

Shares of Gol Linhas GOL have displayed an uptrend on the bourses over the past month, gaining 16.2% against its industry’s 3.1% decline. – Zacks Image Source: Zacks Investment Research ... Read more »

Top Research Reports for Bank of America, Coca-Cola & salesforce

Monday, February 7, 2022 The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Bank ... Read more »

Sanofi's (SNY) Enjaymo Gets FDA Nod For Rare Blood Disorder

Sanofi SNY announced that the FDA has approved its monoclonal antibody, Enjaymo (sutimlimab-jome), to decrease the need for red blood cell transfusion due to hemolysis in adult patients with cold ... Read more »

The Zacks Analyst Blog Highlights: Alphabet, T-Mobile US, Advanced Micro Devices, Mondelez International and Chubb

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »

IRS to stop using facial recognition for identity verification

Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C.Bloomberg | Bloomberg | Getty Images The IRS on Monday announced it will stop using a controversial third-party service for ... Read more »

Why Mid-America Apartment Communities (MAA) is a Great Dividend Stock Right Now

Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »

On Core Values, Self-Honesty and Having Fun with Jairek Robbins, the New President of SUCCESS

“You gotta answer your DMs, man,” says Jairek Robbins, half laughing, in his latest Brilliant Thoughts interview with Tristan Ahumada. Robbins, who is an acclaimed business coach, best-selling author and ... Read more »

Surging Earnings Estimates Signal Upside for Xilinx (XLNX) Stock

Investors might want to bet on Xilinx (XLNX), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and ... Read more »

BCB Bancorp (BCBP) is a Top Dividend Stock Right Now: Should You Buy?

Whether it’s through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you’re an income investor, your primary focus is ... Read more »

The Zacks Analyst Blog Highlights: AbbVie, Merck, Eli Lilly, Novartis and Pfizer

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »

BankUnited (BKU) Stock up 3.4% on New Share Repurchase Plan

BankUnited, Inc. BKU has announced a new share repurchase plan. The company’s board of directors has approved the repurchase of up to $150 million in shares of BKU’s outstanding stock. ... Read more »

TEGNA Inc. (TGNA) Soars 7.4%: Is Further Upside Left in the Stock?

TEGNA Inc. TGNA shares rallied 7.4% in the last trading session to close at $21.34. This move can be attributable to notable volume with a higher number of shares being ... Read more »

Can BCB Bancorp (BCBP) Run Higher on Rising Earnings Estimates?

BCB Bancorp (BCBP) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »

Earnings Estimates Moving Higher for Marathon Oil (MRO): Time to Buy?

Marathon Oil (MRO) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue ... Read more »

Transport ETFs to Buy on Solid Q4 Earnings

The fourth-quarter earnings picture for the transportation sector has been robust. This is especially true as earnings of 95.2% of the market capitalization of the sector that has reported so ... Read more »

The Zacks Analyst Blog Highlights: STMicroelectronics, BP and Asbury Automotive Group

For Immediate Release Chicago, IL – February 7, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the ... Read more »