Could Investing $100,000 in DraftKings Stock Make You a Millionaire?
It's a good news/bad news situation for U.S. sports betting businesses like (NASDAQ: DKNG), it seems. The good news is that gambling facilitators are raking in plenty of revenue nowadays. The bad news is that state governments are taking notice and may seek bigger cuts of the proceeds.
In one state, at least, the size of that cut may cause consternation for some would-be DraftKings stock millionaires. It's an issue to consider for anyone thinking about wagering $100,000 on it in hopes of 10x returns -- but in the long run, taking a smaller stake in the company could be a fairly sensible bet.
If the market hates anything, it's uncertainty. Unfortunately, it's entirely uncertain what the long-term implications will be of Illinois' tax hike on sports betting operators.
Source Fool.com
DraftKings Inc. Stock
Our community is currently high on DraftKings Inc. with 68 Buy predictions and 5 Sell predictions.
As a result the target price of 46 € shows a positive potential of 34.5% compared to the current price of 34.2 € for DraftKings Inc..
