The 7 Best Online Gambling Stocks To Buy Right Now!

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Believe it or not, gambling and casinos have not always been legal. The legalization of gambling is actually quite recent in many places. The first legal casino built outside of Nevada didn’t come until 1978. Online gambling wasn’t legalized in the US for several decades afterward. New Jersey became the first state to legalize online gambling in 2010.

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The legalization of sports betting online is even more recent, having been legalized in 2018. Online gambling is now legal in seven states. General sports betting is legal in more than 20. However, these two sub-markets are becoming increasingly intertwined. 

As more states legalize online gambling and it becomes more socially acceptable, we can expect to see online gambling companies perform very well. COVID-19 has been difficult for the entertainment and gambling industries. Many people have turned to online platforms to enjoy gambling more safely. 

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Best Online Gambling Stocks

Penn National Gaming, Inc (NASDAQ:PENN)

Penn National Gaming is a racetrack and events company based in Pennsylvania. They operate 43 gambling facilities in the US and Canada. Some of the company’s establishments are part of the well-known Hollywood Casino brand.

Penn also has a 36% stake in the company Barstool Sports, an online gambling and digital media company. Barstool Sports recently launched Barstool Sportsbook in September 2020. Barstool Sportsbook is the company’s online sports betting application which was first launched in Pennsylvania.