Online sports betting stocks are gaining traction as more states legalize this form of gambling. However, these companies should be carefully considered before investing.

Cramer’s top pick for this category is a regional casino operator called Penn National Gaming. This company has a stake in the popular sports betting app Barstool Sports and runs 43 casinos and racetracks.
MGM Resorts International

MGM Resorts International (MGM) is an S&P 500 global gaming and entertainment company that offers best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. The company creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. Its global locations feature 31 unique hotel and casino destinations, including some of the most recognizable resort brands in the world.

The Company’s 50/50 venture, BetMGM, LLC, offers sports betting and online gaming in North America through market-leading brands including BetMGM and partypoker, while its subsidiary LeoVegas AB offers sports betting and online gaming in several jurisdictions throughout Europe. In addition, the Company’s MGM China segment operates integrated casino, hotel, and entertainment resorts in Macau.

During the fiscal year ended December 29, 2022, MGM Resorts International Operations filed 80 labor condition applications for H1B visa and 6 labor certifications for green card. This is a decrease of 76 LCAs and 3 LCs from the fiscal year ended January 20, 2022.

This is a good sign that the US government is trying to make the immigration process easier for employers. This will help in bringing in high-skilled workers to the United States and filling the workforce needs of businesses across industries.

MGM Resorts is a company that has an excellent ESG track record and strong business model. In addition, it has the right mix of assets to generate growth and profitability for shareholders. The company is a leader in the casino sector and its growth strategy is well-positioned to drive long-term sustainable performance.

In addition to their ESG program, MGM Resorts is working toward a carbon-neutral footprint. They have three key climate goals: emissions reduction in direct operations, low carbon electricity sourcing, and value chain emissions reductions. These goals will support their broader decarbonization agenda and increase their resilience to climate risk.

The Company is also committed to providing its employees with a safe and healthy workplace. They have a robust occupational health and safety program and provide on-site wellness facilities. This includes a health and fitness center, an employee assistance program, and a company-wide wellness initiative. MGM Resorts International also provides financial support for the American Heart Association and other charitable causes.
DraftKings

DraftKings is a multi-channel provider of sports betting and gaming services. It has significant market share in both fantasy sports and regulated online gambling. Its revenue and profits are growing quickly, but they still have lower margins than some of their competitors. Its website is easy to use and offers features like live cash-out options.


Founded by Jason Robins, Matt Kalish, and Paul Liberman, the company has a wide range of consumer product offerings. Its daily fantasy sports platform attracts millions of users in weekly peer-to-peer competitions. https://www.lightsofamerica.com/ has an esports division and sportsbook, which are designed to appeal to more sophisticated players.

Its products are available across multiple platforms, including iOS and Android devices, PCs, and mobile apps. They can be used to play real money games or for free in a practice mode. DraftKings also offers a variety of tournament formats and has several ways to earn bonus prizes. For example, if you deposit $50 into your account, you can receive a $5 bonus, while winning the jackpot in a jackpot tournament will earn you $500.

The company has a wide range of advertising partnerships that allow it to run branded tournaments on its platform. These events feature athletes, celebrities, and other prominent figures and are designed to generate brand awareness for DraftKings. The company has closed ad deals with companies such as Hooters, Sprint, and Jagermeister. These tournaments are a form of sponsorship that pays the sponsor on both a fixed fee and incentive basis.

In addition to the sportsbook, DraftKings has a large selection of other games, such as a virtual horse race and a lottery-like game called Pick’em Pools. The company also operates a casino and has partnered with a number of sports teams to host in-person events. In addition, it has a robust social media presence and a solid marketing team.

The company has offices in New Jersey, Las Vegas, Boston, and San Francisco. Its staff is experienced in the digital space and has a diverse background. It has also expanded its international operations and opened offices in Dublin, Kyiv, Sofia, and Tel Aviv.
FanDuel

FanDuel is an online sportsbook that offers bets on major sporting events in the US. Its betting markets include spreads and money lines, as well as prop bets and same game parlays. In addition to these traditional bets, FanDuel also has a special feature called boost markets that take the odds up to a much higher level. This is a great way to increase the excitement of watching your favorite team play and can help you win big money!

The company’s sportsbook products are available in a number of states, including New Jersey and Virginia. They also offer a variety of promotions, including football-themed free bets and no-brainer promos. Their sportsbook apps offer a variety of security measures, including two-factor authentication, which requires a six-digit code acquired via text message to login to the app. This extra layer of security is increasingly becoming a standard feature for online sportsbooks, especially as states begin to regulate them.

In addition to the sportsbook, FanDuel has a social betting platform that allows customers to bet on games with their friends and family. The site also has a rewards program that gives users a $10 bonus for each friend they refer to the site. This is a great way to reward loyal fans and attract new ones.

Sportsbook operations at FanDuel have been booming since the Supreme Court struck down the 1992 federal law that prevented sports betting in most states. The change in regulations opened the door to billions of dollars in tax revenues, and states jumped on it. FanDuel has embraced the opportunity, and is expanding its physical sportsbook branches and apps in states where it is legal.

In the first quarter of 2021, FanDuel’s average monthly players grew by 46%, and revenue increased by 112% year-over-year. The company’s chief executive, Peter Jackson, credits this growth to high retention rates and what he calls the industry’s leading sports product bolstered by same-game parlays. He also cited the success of Ohio and Massachusetts, which both launched in late January. These launches drove a 20% increase in customer acquisition.
Rush Street Interactive

Rush Street Interactive is a trusted online gaming and sports entertainment company focused on markets in the United States and Latin America. It currently offers real-money mobile and online operations through its brands, BetRivers, PlaySugarHouse, and RushBet. Its proprietary online gaming platform powers some of the most popular casino and sports betting products in the United States. The company also operates a network of physical casinos in Pittsburgh, Philadelphia and Schenectady, New York.

The company has won several awards for its customer service and is well positioned to capitalize on the growing demand for online gambling. It has a solid balance sheet and is expanding its presence in the US. This makes it a top pick among online sports betting stocks.

RSI’s focus on providing excellent service and a smooth user experience has paid off, with the company winning the EGR North America Customer Services Operator of the Year award for 2023. This is the fourth time RSI has won this accolade, and it reinforces the company’s dedication to delivering an outstanding customer experience.

In addition to being named Customer Services Operator of the Year, RSI also won a Best Mobile Sportsbook award and a Best Customer Support Team award. RSI’s customer service team is dedicated to ensuring that all customers have a positive experience when wagering on sports and casino games. The company focuses on creating a seamless user experience and provides a variety of different channels to help players with their needs.

Last year, the company grew its employee count by 48%. It also increased revenue and diversified its product offerings. In addition to iGaming, the company’s product portfolio now includes online sports betting and social gaming.

The iGaming industry is evolving from an era of advertising shock and awe to one of profitability. In this shift, operators will focus on generating recurring revenues rather than acquiring new customers. As a result, it’s important for companies to be careful about entering new markets and abandoning unprofitable ones.

RSI is an equal opportunity employer and is committed to a diverse workforce. All qualified applicants will be considered for employment without regard to race, national origin, ancestry, age, gender, sexual orientation, marital status, culture, lifestyle, religion, military and veteran status, or disability.