With the 2024 NFL season now underway, buy gambling stocks.
After all, according to the American Gaming Association, Americans are expected to spend about $35 billion on NFL games this year. That’s up from the $26.7 billion wagered a year ago.
As noted by CBS Sports, “The NFL remains king, and more money is wagered on the NFL than any other league. The NFL also attracts six-figure wages (and sometimes seven-figure wagers) on a regular basis throughout the season.”
That being said, investors may want to place bets on stocks like Flutter Entertainment (SYM: FLUT).
At the moment, Flutter Entertainment is attempting to push higher after Wells Fargo upgraded the stock to an overweight rating. The firm said investors should consider the stock after a recent pullback. Last trading at $234.65, the stock appears to have caught strong support and is just starting to pivot higher again. We’d like to see a near term retest of $252.84. Helping, the company recently authorized a $5 billion stock buyback program.
