DraftKings Inc. (DKNG) has seen steady revenue growth, with more states legalizing sports betting. The company has earned a substantial market share and is poised to see even more expansion in the coming years, as the global sports betting market is expected to grow at a CAGR of 10.3% from 2023 to 2030.
While the company raised its 2023 revenue guidance, its bottom line remains in the red. Wall Street analysts even predict that it won’t become profitable until 2025. Moreover, increasing competition and the possibility of new regulations might create bumps on its road to profitability. So, I think DKNG is not the right stock to gamble with now.
