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3 Gaming Companies to Bet On

Given their size, reach, and resources, these companies could dominate the sports-betting industry, which is projected to witness explosive growth.

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As lockdown restrictions ease and businesses reopen, professional sporting activities are starting to return to arenas. This bodes well for the sports-betting industry, which was growing exponentially until the novel coronavirus threw a wrench in the works.

Legal in the United States since 2018, it's difficult to determine the size of the industry, but its growth prospects are undeniable. Estimates of the size of the sports wagering market vary significantly. Independent research firm Gambling Compliance forecasts the U.S. betting market to reach anywhere between $6 billion and $8 billion by 2024. The market, according to Morgan Stanley, could be worth $12 billion annually by 2025.

Vikram Barhat does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.