© Provided by The Motley Fool These Were the 3 Best Sports Betting Stocks of 2020

• Best Sports Betting Companies
• Top Sports Betting Companies In Nigeria
• Top Sports Betting Companies
• Best Sport Betting Companies In Kenya

• The sports betting market in Nigeria has witnessed a significant rise in the past few years. Many Nigerians are now conscious of the gains and the losses involved in indulging in sports betting. New sports betting companies are springing up and this gives customers the opportunity to choose the best from the rest. Many betting.
• Top European Betting Companies. We can’t end this article without giving an overview of the top European betting companies. All these are renowned brands that stand behind the leading EU bookies and have high working standards. More importantly, they are the best EU sports betting companies accepting British punters! Usoftgaming N.V.
• Online Sports Betting at SportsBetting.ag. SportsBetting.ag is your ‘top spot’ for the best in sports betting excitement. No matter what your favorite game might be you’ll find it on the board along with a huge variety of sports and betting.

The government has the monopoly on betting and continues to treat its citizens like little kids in this regard, restricting the number of casinos and vigorously resisting any attempts by online betting companies.

Sports betting is big business around the world, and it's been dominated for decades by traditional land-based casinos. That's changing as betting moves online, and the mobile gambling market took a major step forward in 2020 as more states legalized online gambling, and thousands of people began betting legally at home during the pandemic. A few companies hit public markets as well, bringing even more attention and funding to the industry.

As we look back on the year and forward to 2021, the sports betting market has three clear winners in my eyes: DraftKings(NASDAQ: DKNG), MGM Resorts International(NYSE: MGM), and the little known GAN Limited(NASDAQ: GAN).

DraftKings

The hottest sports betting stock of 2020 was DraftKings, hands down. The company hit the market through a special purpose acquisition company and hasn't looked back. Shares shot higher as the pandemic wore on and sports came back, helped by investors hoping that online betting would begin to replace in-person betting. For the year, shares are up 406%.

Best Sports Betting Companies

In some ways, the boom in online betting is happening faster than expected, and that's helped early movers like DraftKings. In New Jersey, which is the bellwether for online gambling because it was the biggest early state to allow betting, there were $91.8 million in bets in November 2020 alone, up 86.9% from a year ago. If that growth and level of revenue are any indication of the potential for the rest of the country, DraftKings has a long runway ahead.

The third-quarter 2020 results were a small indication of how well things are going for DraftKings. Revenue was up 42% on a pro forma basis to $133 million, and monthly unique users grew 64% to 1 million. Revenue is also expected to be $750 million to $850 million in 2021, up 45% at its midpoint from 2020 guidance. This is a sports betting stock with a lot going for it and maybe just at the beginning of its growth story.

MGM Resorts

As gambling moves online, companies with a physical presence can sometimes have an advantage over digital-only companies. They have known brands, regulators sometimes require a physical presence to operate in a state, and there can be synergies between real-world and online casinos. That's the space that MGM Resorts is trying to fill, and it's done so relatively well in 2020.

The joint venture MGM Resorts built to enter the space is BetMGM, which is now offered in eight states and is growing as quickly as states will allow. Like DraftKings, the company is limited by what's legal in the U.S., but betting should be opening up in more states long term.

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What I like about MGM as a sports betting play is that it has a foundation as a physical casino company. MGM can use the cash flow from its casinos to fund online gambling development, and if it does that successfully it should add a lucrative business to the portfolio.

GAN Limited

DraftKings and MGM are the companies that are taking bets and building the apps that consumers are using, but GAN is building the background infrastructure that online gambling is built on. Its software services include player identity validation, payment services, regulatory reporting, and even some game content. And with the recently announced acquisition of Coolbet, it'll enter the sports betting market worldwide.

If sports betting continues to grow, GAN will be one of the beneficiaries because it's providing services to multiple players. And I would expect some casinos and game companies that don't have the capital to build their own infrastructure to lean on a company like GAN.

What's exciting about GAN is that it has the opportunity to grow with the online gambling and sports betting industries as well as grow the services it offers to clients. It already has a turnkey solution for infrastructure, but don't be surprised to see more games added to the portfolio so GAN can white-label the entire casino experience. That's where the real money will be made for this gambling stock.

Online sports betting is booming

As more states are added to the legal betting industry, the amount bet on sports online is growing. And that's going to be a huge tailwind for DraftKings, MGM Resorts, and GAN Limited. The industry saw U.S. betting increase from $1.85 billion in August to $2.19 billion in September and is on its way to $3 billion in monthly bets. If the industry keeps growing at this rate, it could rival the revenue of physical casinos, and that would be a truly disruptive development in gambling.

Travis Hoium owns shares of MGM Resorts International. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Sports gambling has become extraordinarily popular and profitable for many, with sports betting online having turned into a multi-billion dollar industry. The best sports betting sites are now online sports betting sites, as the wealth and breadth of key information on top websites online give gamblers in-depth information and analysis literally moments after this information becomes available.

Parties perhaps interested in delving into online sports betting have to recognize that, like any other reputable industry, and gambling in particular, a great number of rules and regulations are firmly in place to help prevent cheating, crime, and corruption that can materialize so quickly in the betting industry. The best online betting sites recognize these concerns and have in place rules, regulations, and measures that keep their companies operating within the full framework of all laws while still growing and expanding to make their business venture a success.

The Industry Leaders

Gamblers need to realize that laws relating to sports gambling within states, and sports betting online, are constantly changing. Online sports betting sites, the top sites in sport, sites such as Bovada, BetOnline, and MyBookie, make fully clear the rules and regulations of their sites and the industry they serve. Participants should know all the rules and regulations within that site before making bets, and should know what's legal and permissible in one state doesn't necessarily apply to another.

Participating states, and those in line

As of 2018, six states have legal sports betting: New Jersey, Nevada, West Virginia, Pennsylvania, Rhode Island, and Mississippi. Other states are lining up varied legislation that will make the activity legal within their state lines, to varied degrees, coming up. These states include Delaware, New Mexico, Arkansas, Michigan, New York, and Connecticut.

Top Sports Betting Companies In Nigeria

One example of a leader in the industry

MyBookie, whose sportsbook is rated among the best online betting sites in 2019, accept bets on a wide array of U.S. pro and college sports. Sports they feature include the NFL, MLB, NCAA, NHL, NBA, NASCAR, Golf, and Tennis. In addition to straight bets, they offer wager types including Parlays, Buying and Selling Points, Teasers, If Bets and Action wagers. They feature lines displayed in American, Fractional or Decimal Odds. Their new features include Live Bets and a mobile-friendly website that combine with a Casino & North American Racebook.

Top Sports Betting Companies

Ways to get the action with participating websites

Best Sport Betting Companies In Kenya

There are several ways to LIVE stream contests with the best sports betting sites. If players can cast to their Smart TV, or if they own a Google Chromecast, Roku device, or Amazon Fire Stick, they can get the fastest and latest action down on the latest lines. And as an incentive to sign up, players here can get a Sportbook Bonus of 50% up to $1000.

In addition to taking deposits via bank wires, person to person money transfers, and cashiers checks, MyBookie accepts Visa and Mastercard, credit cards, and Bitcoin. Having multiple payout options, they can process withdrawals in less than 24 hours via Bitcoin. This fully licensed online company offers players a series of generous bonuses and rewards welcoming them, providing potential players further incentive to sign up and immediately begin play.