10 Best Gambling Stocks To Buy According to Hedge Funds

3. DraftKings Inc. (NASDAQ:DKNG)   

Number of Hedge Fund Holders: 54  

Market Capitalization as of December 3: $38.69 Billion  

DraftKings Inc. (NASDAQ:DKNG) is a leading digital sports entertainment and gaming company, known for its daily fantasy sports platform. The company has become a major player in online sports betting and iGaming by targeting sports fans and bettors through its user-friendly app and partnerships with professional leagues.

In Q3, DraftKings Inc.’s (NASDAQ:DKNG) Monthly Unique Payers (MUPs) grew significantly, rising 55% year-over-year to an average of 3.6 million monthly unique paying customers. This impressive growth was fueled by effective strategies in customer acquisition and retention across the company’s Sportsbook and iGaming offerings. However, the company reduced customer acquisition costs (CAC) by nearly 20%.

DraftKings Inc. (NASDAQ:DKNG) is leveraging innovative product enhancements, such as exclusive NBA markets and expanded parlay offerings, to attract and retain customers. The company is also investing in AI-driven personalization and expanding into new states to capitalize on the growing U.S. online gambling market. DraftKings Inc. (NASDAQ:DKNG) plans to launch its sportsbook in Missouri, once regulatory approvals are finalized.