DraftKings and FanDuel Are Immediate Frontrunners as New York Prepares to Approve Mobile Sports Betting

The online mobile sports betting drama playing out in New York looks like it's coming to an end, with the result falling on the side of approval.

A week after the mood soured toward legalizing online sports wagers in the state, the state legislature has apparently reached an agreement with Gov. Andrew Cuomo as part of the overall budget process and it appears mobile betting will be possible. The development immediately puts DraftKings (NASDAQ: DKNG) and Flutter Entertainment's (OTC: PDYPF) FanDuel in leading positions for the handful of licenses that will become available.

Image source: FanDuel.

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Source Fool.com