Tennys Sandgren of the United States returns a ball during the singles match against Christopher Eubanks of the United States during the DraftKings All-American Team Cup on July 4, 2020 in Atlanta, Georgia.
Carmen Mandato | Getty Images
The market opportunity for online sports betting will be bigger than many investors believe and DraftKings is well-positioned to remain one of the biggest names in the space, Guggenheim said in a note to clients Friday.
Guggenheim analyst Curry Baker initiated coverage of the stock with a buy rating, saying that the overall sports betting and iGaming business in North America could top $70 billion and DraftKings should be able to carve out a sizeable piece of that.
