RSI bullish thesis: sports betting growth

Rush Street Interactive (RSI), a sports betting company, is seeing increased interest due to the upcoming UEFA Euro 2020 football tournament, driving a bullish thesis among investors. RSI's share price was $27.08 on May 27, with a notable 82% increase in option trading volume on May 31, indicating growing investor activity.

The sports betting industry is poised to benefit from the expanded 48-team Euro 2020 tournament, with North America as the host. This increased demand is expected to boost RSI's user base and revenue, positively impacting the company's valuation. Other sports betting stocks may also experience a lift due to this event.

Investors should watch for RSI's Q2 earnings report, scheduled for August 12, to gauge the impact of Euro 2020 on the company's financials. Additionally, any regulatory updates regarding sports betting in key markets, such as New York and Ontario, could further drive or hinder RSI's growth narrative.