All it takes is watching a televised sporting event through a couple of commercial breaks to see the surge in popularity of sports betting. Whatever the network or event, there are ads and partnerships promoting something most sports leagues shunned until fairly recently.

One of the biggest beneficiaries of the surge in sports betting is (NASDAQ: DKNG). The stock has surged over 145% in the past 12 months and is poised to keep the momentum going in the coming years. If you have $1,000 to invest and time on your side, DraftKings is a great growth stock to consider.

Sports betting was long illegal in most of the U.S. until the U.S. Supreme Court ruled against the ban in May 2018, giving states the power to decide if they want to legalize and regulate sports betting in their respective jurisdictions. Since then, positive momentum has been building for the industry as many states have opened up to it.

Continue reading

Source Fool.com