The latest trading day saw DraftKings (DKNG) settling at $38.98, representing a +0.23% change from its previous close.
States are looking to increase their take from the $16 billion online sports gambling industry as it expands across the country with big partnerships. DraftKings, FanDuel and other betting apps are facing a bigger tax hit in Illinois following changes to tax policy this year. ESPN owner Walt Disney Co. has also gotten involved in the action with ESPN Bet, which has a partnership with the National Hockey League.
Betting on the biggest players in online sports betting is a way to limit the risk from challenges such as scandals and higher state taxes.