- Disney stocks and stocks from MGM Resorts will likely increase in value with legal sports betting spreading across the U.S.
- Many states are looking to legalize sports wagering in 2020.
- There are risks that people interested in investing in stocks should consider before doing so.
NEW YORK – With more states looking to legalize sports betting in 2020, some stocks may simultaneously increase in value over the next year.
Two Main Stocks
There are several companies that are in the sports betting industry. A large majority of these companies have stocks that investors can easily buy or sell. Two stocks that potential investors might want to look into are from MGM Resorts and Disney.
MGM Resorts International stocks are currently valued to being around $33. MGM is one of the biggest and most well-known names in the entire gaming industry. On top of that, there are several sportsbooks that have the MGM name attached to it. MGM is likely to increase the number of sportsbooks they operate in 2020.
But it is important to consider that MGM is not the only sports betting company in the United States. Companies such as FanDuel have dominated the online sports betting market, especially in states such as New Jersey. But the MGM brand is without a doubt a powerful one.
It is likely that MGM stocks will become more profitable as the sports betting industry grows in 2020 and the BetMGM app spreads into other states.
Disney stocks are something to also consider. The stocks for Disney are currently worth around $146 a stock.
Disney owns many different companies and that includes broadcasting companies such as ESPN. With legal sports betting becoming more prevalent, ESPN is adjusting its programs. A number of sports betting shows from ESPN have appeared in the last two years. As more states legalize sports betting, more programs will likely be necessary. That is why the stock value for Disney is likely to increase over the course of the next year.
But just because more people are able to bet, that doesn’t necessarily translate into more people watching sports. Sports viewership has not increased by a big amount like many analysts thought it would. That is especially true for certain sports such as the NBA.
Although there have been slight increases, there have not been many increases in the number of people watching sports. But that could end up changing if an increasing number of states legalize sports wagering, especially in key sports markets such as California and Florida.
Investing in the stock market is similar to making a bet on sports. Investors have to look at the industry they are interested in and have some knowledge of what will end up happening. That way, they can choose which stocks to invest in to make the most profit. As sports betting legalization moves forward, stocks related to this industry will likely increase in value.
Daniel is a writer that enjoys writing to inform readers. When Daniel was writing for The Borgen Project, he liked informing the world about victories in global poverty issues. Daniel is also an avid horse racing fan who has been going to the track with his father for over a decade betting the ponies. When he is not writing about sports betting or at the track, Daniel loves playing video games and watching sports in his spare time.