- The BetMGM sports app from MGM Resorts (NYSE:MGM) generated a 5,441% Y/Y increase in the number of bets placed on last weekend's RBC Heritage golf tournament and a 3,982% Y/Y increase in handle, per ESPN's David Paydum.
- The explosion of bets on a second-tier golf tournament is an indication that the return of major sports could see huge demand for BetMGM and betting apps from FanDuel (OTCPK:PDYPY) and DraftKings (NASDAQ:DKNG). The upcoming Barstool Sports (NASDAQ:PENN) sports betting is also expected to generate strong interest.
- BetMGM is present in New Jersey, West Virginia, Indiana, Nevada and Colorado.
- DraftKings as a pure play on sports betting is the stock that's seen the most attention from investors and analysts.