The Right Horses to Bet: 12 Sports Betting Stocks to Buy Now

Simon B. Posted On April 23, 2019

Last year, the U.S. Supreme Court allowed regulation to be taken charge by States instead of the Federal Government. The illegal market in the U.S. alone is estimated at $150 billion waged every year. Legal sports gambling is growing everyday. The industry has a 20% growth projection for the next 5 years.

Across the pond, gamblers have been participating in sports betting. In the U.K.,Europe’s largest sports betting market, has liberalized online gambling regulations.

The most obvious players in the industry to take advantage of this are casinos who are well established. Furthermore, the majority of wagers are expected to take place via apps in the near future.

Here are the best stocks to take advantage of this new opportunity in legalized sports betting.

🃏 Casinos & Gaming

Canadian

Great Canadian Gaming Corp (GC-T)
A Canadian casino operator that has recently won many contracts in Ontario. Due to restrictions and regulations, they have little competition and basically has a monopoly on gaming in Toronto. They are sure to take advantage of sports gambling.

Great Canadian Gaming Corp (GC-T) — Stockchase

It's being acquired now, so there's little juice to squeeze here. The market is assuming the deal will happen. He owns Evolution Gaming (Swedish) instead, which operates the software for online gaming (EVO is the ticker).

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Pollard Banknote Ltd (PBL-T)
They are best known for instant win lottery tickets. They have a great social media presence, pay a good dividend and has been a solid gaming company.

Pollard Banknote Ltd (PBL-T) — Stockchase

Great company that is a good business. Stock price recently over valued, which has caused selloff. Current prices presenting good buying opportunity. One of three companies in the world allowed to print lottery tickets. Huge barriers to entry creates a good business.

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The Stars Group Inc (TSGI-T)
A market leader in poker but are moving into sports gambling now. They made a deal with NBA to be their gambling provider. They’ve expanded into the UK and Australia and they still have some space to grow.

The Stars Group Inc (TSGI-T) — Stockchase

(A Top Pick May 29/19, Up 66%) He sold out previously. He liked the 5 year forecast. As we came into late last year some of the volatility in the stock was not what he was interested in so he exited. He believes they will be stronger going forward.

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United State

MGM Mirage (MGM-N)
The largest casino operator in the U.S. It has invested in sports betting and are building a sports betting empire. They recently made a deal with Major League Baseball as their official gaming partner.

MGM Mirage (MGM-N) — Stockchase

Allan Tong’s Discover Picks MGM made waves before last Christmas when it sold its Mirage Hotel & Casino to Hard Rock for $1.08 billion as part of its “asset-lite” strategy, which includes devoting more capital to its online sport betting operations. Therefore, companies like MGM can operate sports betting but can offset those high costs…

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Churchill Downs Inc (CHDN-O)
They traditionally are a horse betting company, but the legalization of sports betting represents a big opportunity for them. They’ve already entered the market in Mississippi. For the last 5 years, the stock has trended up and has performed well.

Churchill Downs Inc (CHDN-O) — Stockchase

A year ago, we could have made some money. He cannot understand why the stock is making new highs. The horse racing sport is out of favor. The stock needs to pause.

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Penn National Gaming Inc (PENN-Q)
A large casino company that is betting big on sports betting, with a $3.1 million investment to launch sports betting at their Mississippi and Hollywood casinos.

Penn National Gaming Inc (PENN-Q) — Stockchase

Operates casinos, resorts and other betting and gaming apps. Well run, and promising merger with entertainment media Barstool. Covid completely crushed the stock. We can expect some growth as the economy reopens and more states allow gambling. New entrance in the trending stocks with 15 mentions in the past 24 hours.

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Boyd Gaming Corp. (BYD-N)
They announced a partnership with MGM last year to focus on the future of online gambling and sports betting. They will be providing a platform for sports betting, casino gaming and poker.

Boyd Gaming Corp. (BYD-N) — Stockchase

Isn’t a company he follows. They have to look at the legislation. You have to look at the competitors also. So many cities are looking at casinos.

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International Game Technology (IGT-N)
They’ve teamed up with fantasy sports provider FanDuel to enter the New Jersey sports betting market. They are traditionally a slot machine business but they are moving heavily into sports betting.

International Game Technology (IGT-N) — Stockchase

Stockchase Research Editor: Michael O'Reilly The gambling technology company just reported earnings that beat expectations by 21%. Their strategy to enter into online sports betting gives them a competitive advantage. Matched with the return to traditional casino gaming, analysts expect 24% profit growth next year. It has re-instated its quarterly dividend, which is paying a…

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Scientific Games Corp (SGMS-Q)
Their SG Sports platform is an online sports betting platform for soccer, tennis, basketball, etc.
They also partnered with Caesars to launch sports betting at their Casino and racetrack.

Scientific Games Corp (SGMS-Q) — Stockchase

(A Top Pick April 22/04. Then: $20.68) Fundamentals are still good. This business is extremely good. At this level, the stock is very attractive unless something changes dramatically.

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Wynn Resorts Ltd. (WYNN-Q)
Wynn is working on launching a mobile sports betting app, joining the Nevada mobile sports betting applications. They are planning on offering a wide range of functionality and bets on horse races too.

Wynne Resorts Ltd. (WYNN-Q) — Stockchase

He is also worried about their operations in Macau. It's too early to buy Wynn. He regrets recommending this earlier. He didn't expect the Chinese government to mismanage their handling of Covid cases there.

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Las Vegas Sands Corp. (LVS-N)
An IT solutions provider that is launching an all-in-one sports book solutions for SMEs to offer bets. Their ‘sports betting in a box’ includes solutions for hardware, middleware and software, and can even process live betting.

Las Vegas Sands Corp. (LVS-N) — Stockchase

Among the biggest losers on the S&P in 2021 #3, down 37%. It's a terrific casino operator with a huge operation in Macau. It's doubling down in China by selling its Vegas properties. But this suffers during Covid where in China has strong lockdown policies.

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William Hill (WMH-LSE)
The world’s top betting sites who has 25% of the sports betting market in the UK and Ireland. They are looking to venture into the U.S. as well, following the Supreme Court decision. They have a well-established app and has a loyal gambling clientele.