Where Will DraftKings Stock Be in 5 Years?

There's no denying online sports-betting platform (NASDAQ: DKNG) has come a long way since launching as a fantasy sports site back in 2012. Chief among these changes? The rollout of wagering on sporting events, which was officially legalized in the United States by the Supreme Court's 2018 decision to strike down a long-standing ban on sports-based betting.

Now five years removed from that sea change, the luster has worn off. The market's getting a bit crowded too. Rival site FanDuel is also in the sports wagering business, while entertainment titan Walt Disney is lending its ESPN brand name to Penn Entertainment to establish yet another means of placing bets on sports. A handful of casinos are also already in the business, of course, including with their own online offerings.

Given all of this, it would be easy to assume DraftKings' best days are all in the past. And, perhaps they are. However, there's still a great deal of upside potential from this stock left to tap into.

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Source Fool.com