2020 has been a whirlwind of a year so far, and we’re only halfway through it right now. The gambling industry has faced many issues as a result of the pandemic this year, yet there have been some incredible stories to keep up with. This is an industry that never sleeps, and we’re proud to be reporting on it. One of them is about DraftKings, and we’re going to cover it in just a moment.
One of the hot topics in the industry right now is which companies are the right ones to invest in as we work through the second half of the year. Investing is difficult at the best of times, but it’s been made even more so by the chaos that 2020 has brought.
A company that is often brought up in discussions like this is DraftKings. DraftKings is one of the biggest players in the game right now, and the company has had a wild year despite the circumstances. They’ve formed mergers, won lawsuits and even entered new markets; and they’re just getting started.
Today, we’re going to be looking at DraftKings in more depth, and analyzing whether now is a good time to invest in them or not. This company is making waves in the community for sure, and we’d encourage you to do your own, independent research before investing in anything.
What we cover
Why is online sports betting so popular right now?
If you’re involved with gambling at all, you will have noticed that there has been a huge increase in the amount of people gambling online in 2020. Companies like DraftKings, FanDuel and William Hill have been making waves in the industry by providing top quality, online gambling entertainment for their audience.
One of the main reasons why online gaming is so popular right now is the pandemic. As many casinos have been closed around the world and people are in lockdown, many people are turning to online gambling to get their betting fix.
Another reason why online gaming is so popular right now is that more and more places around the world are moving to legalize it. As it becomes safer and more regulated, it is becoming more heavily marketed and promoted – so more and more people are getting involved with it.
Finally, the recent developments in gaming technology and visual design software have made online gaming much more popular in 2020. The rate of innovation has been truly inspiring to see, and it’s little wonder that DraftKings has grown to such heights this year.
Who is DraftKings, and what does the company do?
As you will have guessed by now, DraftKings is an online sports betting company with a cult following. The company is based in Boston, Massachusetts and is known for providing top quality online gaming experiences. They’re best known for producing online daily fantasy sports tournaments, but they provide a lot of other fun games as well.
$250
Welcome Package
* New customers only.
$1,000
Welcome Package
* New customers only. 100% match bonus based on first deposit of up to $1,000
$500
Welcome Package
Why could it be a great time to invest in DraftKings right now?
It’s important to note that there are always going to be multiple opinions on whether it’s a good time to invest in a company or not. To make this a fair article, we’ve covered both opinions on whether DraftKings is a good investment choice right now.
One of the main reasons why DraftKings could be a great investment for this year is that this company is known for always staying on top of current trends. DraftKings are known for being pioneers, and they are firmly rooted in the conversations surrounding hot topics like daily fantasy sports and eSports betting too.
Another reason why DraftKings could be a great investment this year is their quick growth, as we covered in this blog post. DraftKings has already grown quickly, and as online sports betting and gaming becomes legal in even more locations, we’re bound to see even quicker growth.
It’s also important to note that this business is known for having a wide variety of products on offer. The fact that DraftKings is involved in so many types of gaming and betting could be very enticing for investors who are looking to spend their money with a versatile company.
All in all, it’s looking to be a great year for DraftKings, despite everything that’s going on right now. We’re excited to see where this company takes the industry next.
Why could it be a bad time to invest in DraftKings right now?
It’s worth considering that it might not be the right time to invest in DraftKings, despite the positives we listed above. As we noted in this blog post, some experts believe that DraftKings’ stock is going to continue to fluctuate throughout the year. If you’re set on investing, wait a few months and observe the market.
It’s also important to consider the current climate. There is a lot of unrest around the world, and plenty of disruption in the gambling industry right now. It could be a good idea to wait before investing, to allow things to settle down more. The global climate can have quite a big impact on the stock market, after all.
To sum up
All in all, it’s essential to make sure that you do your research before investing in any stock, regardless of what industry it is that you’re looking at. Investing takes time and considered effort, and we’d encourage you to spend some time reading up on current trends and companies, to make sure you’re making the best choice possible.
DraftKings has made some incredible moves this year already, and we’ve been excited to see them make an impact on the industry. It’s clear that the sports gambling audience is looking for easy access to high quality online gambling, and DraftKings has met this demand with ease. It’ll be fascinating to see where the company is by the end of the year, that’s for sure.
Are you a New Jersey resident interested in playing online in our state and taking advantage of the best offers? Check out our curated list of NJ casinos, NJ sportsbooks and online bonuses.
$250
Welcome Package
* New customers only.
$1,000
Welcome Package
* New customers only. 100% match bonus based on first deposit of up to $1,000
$500
Welcome Package
