Analysts see one main winner as New York gets closer to approving online sports betting

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

Online sports betting in New York is close to being a reality, and the regulations taking shape seem to favor one company in particular, according to Wall Street analysts.

Gov. Andrew Cuomo and state legislatures announced on Tuesday that they had agreed to a budget for the upcoming fiscal year that would legalize mobile sports betting. The exact details of the system are not yet known, but analysts say that New York is poised to have one of the highest licensing fee and tax rate combinations for sportsbooks in the U.S.

More In Investing trends

CNBC ProLook out below: These stocks have the furthest to fall, according to analysts
CNBC ProGoldman says these stocks are bouncing with bitcoin — and outperforming the S&P 500 in a big way
CNBC ProCompanies are starting to spend big to fund future growth. Goldman has a way to play it