I am an enthusiastic fan of sports, so for a long time I was aware of the action of sports betting (for better or above). However, sports betting has officially become mainstream, and even occasional fans start trying to try.
Either Sports betting It will have a net positive effect on the sports industry and society as a whole is a topic of discussion, but one thing is for sure: the industry has strengthened as the main force and Draft (Nasdaq: Dkng) He is one of his main players.
Because it is IPO In July 2019, the company and its shareholders experienced roller ride. In March 2021, its share price reached a reach of close to $ 72, but since then it has fallen to about $ 42.50 from February 26, 2025. This is not ideal if you invested near its peak, but the section is set as a good long -term investment.
By the end of 2024, 38 countries and Washington, DC, legalized sports betting in some form. Just a few years ago, the number of potential targeted countries for the gambling industry sat significantly below that. Partly, I am encouraged by the potential of draft growth.
Since the United States Supreme Court allowed the states to self-regust sports betting in May 2018, they slowly but surely began to legalize and create billions from the industry.
California and Texas – the two most influential countries in the country – have not yet legalized sports betting. Together, there are over 52 million adults home. Of course, not all of these adults are interested in sports betting (or sports in general), but it shows how much potential customers have only increased legalization.
Regardless of when additional states legalized sports betting, the draftkings well brought up their current customers. 2024 brought $ 4.77 billion in revenue, compared to $ 3.67 billion in 2023.
Perhaps, however, it is more notable that the drafts have achieved their first full year of positive free cash flow and adapted to earnings before interest, tax, depreciation and depreciation (EBITDA) 2024.
His $ 181 million in custom EBITDA is a beautiful turnaround of $ 151 million, which he lost in 2023 and should be a sign that the company has turned a corner from profitability.
Draft marked one of the leaders in sports betting, but the company has spread from that, embarking on Igaming, a digital lottery and an internet gambling. The indulgence to different avenues extends the revenues of draftskings, as well as providing a company the opportunity to move the sale between its products.
