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Forget DraftKings, These 2 Stocks Are Better Buys Today

DraftKings isn't profitable in online betting. The better bet may be one of the companies eating up its marketing dollars.

By Travis Hoium – Mar 26, 2024 at 8:51AM EST

Online gambling stocks are hot again and DraftKings (DKNG +4.56%) has ridden that wave on the market. But DraftKings has never shown a profit and it's spending billions each year to attract new customers. In this video, Travis Hoium highlights why there may be better bets for the online gambling market long term.

*Stock prices used were end-of-day prices of March 23, 2024. The video was published on March 25, 2024.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
TMFFlushDraw
X@travishoium

Travis Hoium has positions in MGM Resorts International, Spotify Technology, and Walt Disney. The Motley Fool has positions in and recommends Spotify Technology and Walt Disney. The Motley Fool recommends the following options: long January 2025 $25 calls on Penn Entertainment and short January 2025 $30 calls on Penn Entertainment. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

DraftKings Stock Quote
DraftKings
NASDAQ: DKNG
$23.18
(+4.56%)+$1.01
Walt Disney Stock Quote
Walt Disney
NYSE: DIS
$102.60
(-1.01%)-$1.05
MGM Resorts International Stock Quote
MGM Resorts International
NYSE: MGM
$39.54
(+1.54%)+$0.60
Penn Entertainment Stock Quote
Penn Entertainment
NASDAQ: PENN
$17.24
(-0.12%)-$0.02
Spotify Technology Stock Quote
Spotify Technology
NYSE: SPOT
$518.00
(+0.40%)+$2.06
Flutter Entertainment Plc Stock Quote
Flutter Entertainment Plc
NYSE: FLUT
$111.57
(+5.21%)+$5.52

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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