It's rare that companies beat the market by sticking to the well-beaten path. It's also rare that investors beat the market by choosing only the safest companies.

If you are looking for life-changing returns in the stock market, you are going to need to focus at least some of your money on disruptive businesses that serve established markets in exciting new ways. FuboTV (FUBO -4.84%) and Penn National Gaming (PENN 2.71%) can help you do that.

Let's dig a little bit deeper and find out why these two growth stocks could supercharge your investment portfolio. 

Someone holding a remote control activates a streaming television platform.

Image source: Getty Images.

1. FuboTV

FuboTV is an online television streaming service that focuses a good portion of its efforts and resources on providing live sports from leagues like the NFL, MLB, and NBA. The company's stock price has risen by over 400% since its IPO at $10 a share in October 2020. The stock gives investors an excellent way to bet on the long-term trend of cord-cutting in the TV industry. FuboTV can also make a splash in the fast-growing sports-betting market because of its recent acquisitions of some online gambling-related businesses. 

Consumers are increasingly ditching their cable subscriptions in favor of direct-to-customer streaming services, which can often offer more value for the money. The coronavirus pandemic has accelerated this trend, with research company eMarketer estimating that 46.6 million households will make the switch by 2024 -- up from 31.2 million households in 2020. 

FuboTV's focus on sports can help it stand out in the industry. And the December acquisition of contest automation software company Balto Sports could give it access to the online wagering market, which is expected to be worth $155 billion globally by 2024. In January, FuboTV acquired another sports-betting start-up called Vigtory, which it plans to use to launch a full-fledged sportsbook later this year. 

FuboTV's third-quarter revenue grew 47% year over year to $61.2 million as its subscriber count expanded along with its average revenue per user (ARPU), which now stands at $67.70. The company now boasts 455,000 paid subscribers, up 58% from the prior-year period. 

2. Penn National Gaming 

It might be inaccurate to say Penn National Gaming could skyrocket because it is already soaring. The stock price has risen 32% year to date, and management plans to keep the momentum going by pivoting to sports betting. In the near-term, the coronavirus pandemic remains a headwind for the casino industry. But Penn National is weathering this challenge better than rivals.

Unlike MGM Resorts or Melco Resorts, which mainly operate in hard-hit gambling hubs like Las Vegas and Macau, Penn generates most of its revenue from regional casinos typically accessed by car. This strategy gives it lower exposure to the weakness in plane-reliant tourism. 

A row of brightly colored casino slot machines.

Image source: Getty Images.

Penn National's fourth-quarter revenue declined 23% to $1.02 billion because of COVID-19-related restrictions. But the company fared significantly better than comparable casino companies like MGM and Melco Resorts, which saw their sales decline by 53% and 87%, respectively, in their most recent quarterly periods. 

Penn National can be considered a growth stock because of the rapid expansion of its sports-betting business, which will likely power top-line growth over the long term. In September, the company launched its Barstool Sports app in Pennsylvania, with plans to offer legal sports betting in every state where it operates by the end of 2021. 

Exciting takes on established industries 

Television and gambling are nothing new, but they are evolving. The trend of cord-cutting has led to a growing market for streaming companies, while the legalization of sports betting has created a massive opportunity for casino operators to expand their businesses. FuboTV and Penn National Gaming, which clearly differentiate themselves from competitors, allow investors to bet on these exciting trends.