5 Best Sports Betting Stocks to Buy Now

3. MGM Resorts International (NYSE: MGM)

Number of Hedge Fund Holders: 44

Casino giant MGM is one of the best sports betting stocks to buy now. The company offers BetMGM app for sports betting. MGM has a partnership with Yahoo Sports through which it eyes to reach the 60 million users that visit Yahoo’s platform.  Recently, Jefferies upped MGM to Buy, citing an increased demand and casino recovery expected in the future following the mass rollout of COVID-19 vaccine. The firm also said that BetMGM is gaining considerable momentum.

As of the end of the fourth quarter, 44 hedge funds in Insider Monkey’s database of 887 funds held stakes in MGM, compared to 41 funds in the third quarter. Corvex Capital is the biggest stakeholder in the company, with 22.5 million shares, worth $710.2 million.