With the return of professional football in the United States, Sports Gambling Mentions are picking up steam.
Consumer Mentions of placing bets on sporting events have begun to accelerate, pacing +24% QoQ on a 30-day moving average.
Sports betting in the U.S. showed unusual strength in 2020, especially in the months after the post-lockdown return of professional sports. On the 30-day trend line, Mentions are still slightly below 2020 levels (-10% YoY) but already +8% versus 2019.
The current upward trajectory of this trend represents a bullish signal for companies with exposure to the U.S. sports betting market.
DraftKings (DKNG) Showing NFL-Powered Strength
Since the federal legalization of sports gambling in 2018, online sports wagering has become a massive emergent market in the United States. DraftKings (DKNG) is one of our favorite companies in this growing industry.
DraftKings Purchase Intent Mentions are handily outperforming the generic sports betting trend, up +46% QoQ and +17% YoY on a 30-day moving average.
While we’re always happy to see 37% gains in a matter of months, we have loftier expectations for this company.
In fact, we’re starting to see multiple opportunities begin to develop in the sports gambling space. As always, LikeFolio members will be the first to know when we see a stock that the data says is ready to run big.