Partnerships between sports-betting operators and media companies that cover sports betting are creating a full-blown investment sector with loads of opportunity

Companies that take bets on sporting events are cementing alliances with like-minded media outlets, and investors should take notice. Sports wagering companies haven’t just entered the mainstream, they’ve entered the mainstream media. The goal: Create a mania for wagering and a big source of revenue in the years ahead.

Some of the media outlets involved have been around for a while despite the illegality of betting on games until about three years ago. That’s when the Supreme Court overturned the 1992 Professional and Amateur Sports Protection Act, also known as PASPA....

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