Will Sports Betting Pay Off for This Media Stock?

Everyone is seeing dollar signs with the growth of online sports gambling in the U.S., and the lines between sports and gambling are going to get blurrier over time. Sports leagues, TV networks, casinos, and even streaming companies are seeing opportunities to exploit online gambling. 

Industry leaders like DraftKings, MGM Resorts, and Rush Street Interactive have established positions in the market for gambling, and FuboTV is trying to establish itself as the go-to for sports and gambling content. Nearly every sports, gambling, and media company is trying to wiggle its way in. The most daring is a collaboration between Bally's (NYSE: BALY) and Sinclair Broadcasting Group (NASDAQ: SBGI), which are attempting to bring sports betting into the homes of millions of sports viewers across the country. It's an odd pairing, and a do-or-die bet on sports betting as the future of sports broadcasting. 

Image source: Getty Images.

Continue reading

Source Fool.com