2020 marks the decade of a growth spurt in iGaming stocks as online gambling steps into the mainstream. The sudden spike in demand can be accredited to the historic US Supreme Court decision, lifting the age-old ban on sports betting within the States. The Professional and Amateur Sports Protection Act or PASPA prohibited states other than Delaware, Nevada, and Oregon from regulating or engaging in interstate sports betting or gambling.
iGaming has been on the cards for nearly half a decade now, although PASPA made it impossible for the operators to think about the future. The landmark decision paved the way for regulating the industry and the market response has been strong, to say the least. Case in point, the iGaming industry is worth nearly $60 billion today and is projected to grow sharply within the next decade.
From an investment perspective, it’s a prime opportunity to bet big on the dark horse. Here’s a list of three popular iGaming stocks with the potential for a massive return. However, viewers are advised to conduct independent research before investing.
Top 3 iGaming Stocks to Invest in 2020
1. GAN – Popular iGaming infrastructure provider GAN might not be the face of online gambling. However, the company offers its array of services to the consumer-facing side of the industry. The SaaS provider deals with some of the largest iGaming platforms in the US and the firm’s proprietary iGaming platform, GameSTACK, offers the crucial backend and foundational technology required to keep casinos in operation. GameSTACK’s account management system stores, processes, and protects sensitive client data and the system is often considered the Holy Grail of iGaming.
2. Landcadia Holdings II (LCA) – Next up on our list is popular iGaming platform Golden Nugget Online Gaming (GNOG). Although LCA might not sound familiar, Golden Nugget is the face of the reverse merger with the bank-check company. GNOG is one of the leading iGaming platforms in business today, operating exclusively in the NJ market. LCA stocks are projected to rise in the imminent future as Golden Nugget retains its foothold in the iGaming niche.
3. DraftKings – Probably the most famous name on our list, DKNG is one of the most popular iGaming platforms in the US, boasting over 12 million registered users and half a million active players. Brand awareness is among the company’s biggest advantages in the stock market since chances are at least one sports fan will have someone in their circle familiar with the brand. Being the largest sports betting provider in town, DraftKings can afford to invest in bonuses and prizes to attract newbies to the game. Thus, increasing revenue in the long run! The company also has the required resources for future expansion, leading to better performance at the stock market.
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