Gambling Stocks Are Heating Up in 2025: These Are the Ones Worth Your Money
Back in 2018, the U.S. Supreme Court overturned the federal ban on sports betting, unleashing a tidal wave of state-level legalizations. Fast forward to the present day and you’ll see that 38 states, along with Washington, D.C., have legalized sports betting in some form, with Missouri poised to become the 39th in December this year. Online betting, in particular, has seen explosive growth, both in states new to the stage and those with more established markets. With billions of dollars pouring into the industry, investors are eyeing the gambling sector as one of the hottest corners of the stock market.
Gambling stocks are catching fire in 2025, and not just in the usual Vegas suspects. From online sportsbooks to global casino operators turned tech-first giants, the sector is drawing serious attention from investors hunting for high-growth plays. A mix of relaxed regulations, a surge in mobile betting, and bullish quarterly earnings have turned this once-volatile corner of the market into a hotbed of opportunity. And if you’re thinking of diving in, now’s the time to identify which players are actually worth your money. Industry experts and data analysts from NoDepositFriend.com confirm this, stating,
“Investor sentiment around gambling stocks is climbing rapidly, largely due to strong earnings reports and the sector’s agility in digital adaptation. We’re seeing capital inflows not just from traditional funds, but also from tech-savvy retail investors betting big on long-term growth.”
In this piece, we’ll break down our pick of the top gambling stocks that are dominating the market and could be worth seriously considering for your portfolio in 2025.
1. Flutter Entertainment
First up is Flutter Entertainment, a major global player in sports betting and gaming, with operations across the U.S., U.K., Ireland, and Australia. In the U.S., its crown jewel is FanDuel, the country’s leading online sportsbook, holding a commanding 48% market share in 2025, according to company estimates. FanDuel operates in 24 U.S. states and offers online casino gaming in five. Flutter’s strategy of reinvesting profits to expand market share and enhance customer acquisition is paying off, particularly as the U.S. market continues to expand. Internationally, Flutter also dominates in the mature markets of the U.K. and Ireland and boasts a 45% share in Australia’s online betting market through SportsBet.
2. DraftKings
Up next is DraftKings, the second-largest online sportsbook in the U.S, capturing around 25% of the market and operating in 25 states and Washington, D.C. What sets DraftKings apart is its exclusive focus on online operations—there are no physical casinos in its portfolio, making it a pure play on North American digital betting growth. The company added over 3 million active customers in 2024 and continues to see strong revenue growth. While DraftKings plans to pass some high tax costs onto users through surcharges in 2025, it’s a calculated risk aimed at sustaining profitability.
3. MGM Resorts
MGM Resorts is a legacy casino brand with major properties in the U.S. and Macau, and it’s also the co-owner of BetMGM alongside U.K.-based Entain. MGM entered the international online betting scene with its 2022 acquisition of LeoVegas, which now serves as the engine for BetMGM-branded products outside the U.S. While BetMGM’s market share has dropped below 15% in U.S. online betting space, the company remains competitive in the iGaming space. Its real estate plans include a mega-casino in Osaka, Japan, set to open in 2030.
4. Caesars Entertainment
Best known for its iconic Caesars Palace in Las Vegas, Caesars has expanded aggressively through acquisitions. After taking over William Hill, the company rebranded its sportsbook as Caesars Sportsbook and now operates in 32 North American jurisdictions, including 25 with online betting. The company has scaled back its marketing spend to improve profitability. Its digital arm is now EBITDA-positive and trending toward net income profitability.
5. Penn Entertainment
Last but not least is Penn Entertainment, which owns 44 casinos across 20 states and launched ESPNBet through a strategic partnership with ESPN in 2023. The rebranding of its BarStool assets to ESPNBet, combined with its limited marketing budget compared to competitors, is a unique play. It focuses on organic advertising through media integration instead of high-cost campaigns. Its sportsbook is licensed in 20 jurisdictions and operates in Ontario as well. While it may not have captured as much market share as its competitors, Penn is more profitable per customer than many of its rivals.
It is evident that the gambling industry is evolving fast thanks to key legislative changes, technological advancements, and shifting consumer habits. In 2025, it’s not just about Vegas anymore. It’s about who can win the digital turf war. So, whether you’re seeking global giants like Flutter or tech-driven disruptors like DraftKings, there is no shortage of investment opportunities. With that being said, doing your homework is essential if you want to make smart decisions. As the stakes rise, these companies are betting big on the future – and savvy investors might want to do the same.
