Profit Pregame

The One Stock to Buy Before This Huge Catalyst Kicks Off

This Industry is Wall Street’s #1 Contender

Sports gambling is quickly becoming one of the hottest businesses in the country – and I’m betting on one stock to take home the gold.

What’s happening?

The Tokyo Olympics are in full swing.

While the stands at Olympic venues may be mostly empty due to COVID-19 restrictions, millions of people around the world are tuning in every day to cheer on their country and their favorite athletes.

For many viewers, there’s more than just national pride on the line.

That’s because every four years (or in this case, five years), the Olympics presents one of the biggest gambling opportunities in all of sports.

According to a recent poll by the American Gaming Association, more than 20 million Americans planned on betting on the Olympics.

And with the changes to gambling laws we’ve seen across the country in recent years, the sports books that handle those bets are primed to rake in more revenue than ever before.

Where’s the money?

In years past, the only places you were able to place a sports bet in the U.S. – aside from an illicit bookie – was casinos in places like Las Vegas and Atlantic City.

But the rise of gambling websites, along with legislation allowing them, have opened up a variety of ways for gamblers to place their bets.

There are now 21 states, plus Washington, D.C., that allow online sports gambling. And several more states are currently weighing whether or not to legal in their respective legislatures.

With the additional avenues for sports gambling attracting more and more gamers every day, this could be the biggest year for legal sportsbooks yet.

All told, legal sportsbooks in the U.S. generated a record $1.5 billion in revenue in 2020. And there are signs that the trend continues to gain steam. In Q1 2021, sports betting revenues increased another 270% from the same quarter last year.

And right now could be an incredible time to jump into stocks that will benefit from the rise of sports gambling in the U.S. – especially with the catalyst that’s just around the corner…

How do I get some?

The most popular sport in the U.S. is gearing up to begin its next season.

Right now, football players across the country are reporting to training camp to prepare for the upcoming NFL season.

And sportsbooks are licking their chops at the prospects of an incredibly profitable 2021.

Every year, it’s estimated that more than $100 billion is wagered on NFL games at legal sportsbooks. And with the NFL season now extended to 17 regular season games, sportsbooks have the opportunity to take bets on more games than ever.

My favorite name to play this trend has been and continues to be DraftKings Inc. (DKNG), which has made aggressive move to expand its sportsbook operation into 11 states at this point.

DraftKings stock has rallied well over the last two weeks, but is still sitting roughly 30% below the highs it established back in March.

I think this is a great opportunity to jump into DKNG stock while it’s still at a discount, before increased NFL gambling revenues give it a real boost.

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In the Spotlight:

Over the last year, we’ve highlighted several of the up-and-coming names in the booming video games space.

But a recent crisis for one of the industry’s biggest players showed us how even a huge tailwind like video game makers have behind them right now doesn’t make them immune from missteps.

Controversy began swirling last week for Activision Blizzard, Inc. (ATVI) when California’s Department of Fair Employment and Housing sued the video game maker over alleged incidents of sexual harassment, unequal pay, and retaliatory practices.

Following the filing, Activision brass vehemently denied the allegations, and sent a company-wide memo characterizing them as false and distorted.

That prompted Activision employees to stage a walkout over the company’s response to the complaints, with many taking their grievances to social media.

While Activision executives have since apologized to their employees for the tone deaf response, the damage is done.

Shares of ATVI fell as much as 10.7% from Monday’s high after news broke about the planned walkout.

In the end, I believe ATVI will continue to be one of the top performers in the video game industry, but it needs to get its house in order first. I will be looking for any opportunities to jump into this stock at a discounted price. Stay tuned.

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