Parlays are paying off for this sports betting giant.

If you have watched any sports event in the past couple of years, you will likely be aware of the explosion in sports betting . Everything including football, esports, table tennis, and mixed martial arts is now eligible to be bet on in many parts of the U.S. (for better or worse, but that's a different story).

Since the U.S. Supreme Court gave states the authority to decide how to regulate sports betting in May 2018, they have been progressively legalizing it and welcoming in mobile and retail sports books. And when you look at the tax revenue they have made as a result, it's easy to see why many states have welcomed it.

One of the main beneficiaries of this new market has been DraftKings ( DKNG 1.02% ) . It was one of t

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